India’s Population and Sustainability
Context: There is much discussion and debate surrounding India’s immense population. Many are expressing concerns that this growing population could become a significant challenge for the nation’s future. As of January 2024, India’s population stood at 1.44 billion and has likely increased slightly since then. Over the past decade, the population has been expanding at a […]
Report on Currency and Finance
Context: The Reserve Bank of India (RBI) released the Report on Currency and Finance (RCF) for the year 2023-24 with the theme – India’s Digital Revolution. Relevance: GS III: Indian Economy Dimensions of the Article: India’s Digital Revolution – Key Highlights Significance of Digitalisation in India’s Financial Sector Challenges Posed by Digitalisation in Finance Remittances in […]
Surge in Tax Concessions for Political Donations
Context: Recent financial data shows a notable increase in tax concessions for donations to political parties, with nearly Rs 4,000 crore granted in the fiscal year 2022-23. This rise underscores the growing trend of using tax deductions to support electoral funding and highlights broader shifts in political finance and its impact on fiscal policy. Relevance: […]
Impatience With Jobs
Context: A major focus of this Budget speech is the change in approach toward employment, with a noticeable increase in its mentions. “Employment” was the central theme of the Budget, highlighting the Prime Minister’s package aimed at facilitating jobs and skills as a top priority. The proposed ₹2 lakh crore package aims to assist 4.1 crore youth over […]
Budget 2024: A Blueprint for Long-Term Growth
Context: In a crucial move to bolster India’s economic strength, the Union Budget for the fiscal year 2024-25 has taken major steps to ensure the continuity of progressive reforms. There is excitement in the MSME, E-commerce, and start-up sectors, which have received additional support as the nation advances toward the goal of a Viksit Bharat. Relevance: Mains […]
MEA’s Development Assistance Plans in Union Budget 2024-25
Context: In the recently announced Union Budget 2024-25, the Ministry of External Affairs (MEA) has outlined its development assistance plans, focusing on strategic partners and neighbouring countries. This initiative aims to promote regional connectivity, cooperation, and stability in line with India’s Neighbourhood First Policy. Relevance: GS III: Indian Economy Dimensions of the Article: Distribution of […]
About The Angel Tax
Context: Recently, the Union Minister for Finance proposed to abolish ‘angel tax’ for all classes of investors, while presenting the Union Budget 2024-25 in Parliament. Relevance: GS III: Indian Economy Angel Tax Definition: Legal Basis: Tax Rate: Exemption for Startups (2019): Investor Conditions: Purpose: -Source: The Hindu
About The Skill Loan Scheme
Context: The finance minister recently announced a revision to the model skill loan scheme, which will now facilitate loans up to Rs 7.5 lakh backed by a guarantee from a government-promoted fund. Relevance: GS III: Indian Economy Dimensions of the Article: Skill Loan Scheme Introduction: Eligibility: Features: Credit Guarantee Fund: Key Points: -Source: Business Standards
Surge in Domestic Patent Applications in FY24
Context: For the first time, domestic patent applications in FY24 have exceeded those from foreign applicants, driven by a surge in fields such as computer science, IT, pharmaceuticals, and chemicals. However, foreign entities still hold a significant share of the patents awarded in India, accounting for nearly two-thirds of all approved applications. Relevance: GS III: […]
Need for bolstering MSMEs
Context: Recently, Union Minister for MSMEs said six pillars were identified as focus areas for the growth of the MSME sector namely Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Mobilization of Resources) Dimensions of the Article: Understanding MSMEs in India Pointers about MSMEs in India Measures that can give some hope to […]