Criticism of 2023 Amendments and Broadened Scope of Angel Tax
Context: Recent amendments in 2023 and the broadened scope of the Angel tax have faced criticism due to a significant downturn in startup funding and the resulting job losses. Relevance: GS III: Indian Economy Dimensions of the Article: What is Angel Tax? Expansion Under Finance Act, 2023: Funding Winter and Job Losses: Industry Perspective on […]
India’s Rise as a Strategic Intellectual Hub
Context: In recent years, India’s transformation from a back-office service provider to a strategic intellectual hub for Multinational Corporations (MNCs) has been driven by the rise of Global Capability Centers (GCCs). GCCs are offshore units established by MNCs to perform strategic functions using specialized talent, cost advantages, and operational efficiencies in different locations worldwide. Relevance: […]
Global Economic Prospects Report
Context; According to the recently released Global Economic Prospects Report by the World Bank, India is predicted to remain the fastest-growing major economy globally, with a projected GDP growth rate of 6.6% for FY25. Relevance: GS III: Indian Economy Dimensions of the Article: Global Findings: South Asian Region (SAR) Findings: India-Specific Findings: Risks to the Global Economy Identified in […]
Growth in Coal-Fired Thermal Capacity and Alleged Misrepresentation of Coal Quality
Context: According to the data on NITI Aayog’s energy dashboard, India’s coal-fired thermal capacity grew to 218 GW in FY24 from 205 GW in FY20, marking a 6% growth. Additionally, a recent report alleges that in 2014, a company misrepresented low-grade Indonesian coal as high-quality and sold it to a public power generation company in […]
About Authorised Economic Operator (AEO) Programme
Context: Recently, the gem and jewellery sector has been granted Authorised Economic Operator (AEO) status by the Ministry of Finance, easing export-import processes with shorter cargo release times and reduced bank guarantees. Relevance: GS III: Indian Economy Dimensions of the Article: About Authorised Economic Operator (AEO) Programme Overview of the AEO Programme Benefits of AEO Status Eligibility […]
RBI’s Aspirational Goals for India’s Fast-Growing Economy
Context: Recently, the Reserve Bank of India (RBI) has outlined several aspirational goals in preparation for India’s fast-growing economy, aiming to be “future-ready” by the time it reaches its centenary year, RBI@100. Relevance: GS III: Indian Economy Dimensions of the Article: What are the Aspirational Goals of RBI? Capital Account Convertibility: Non-Resident Transactions: Digital Payment […]
About Duty Drawback Scheme
Context: The Central Board of Indirect Taxes and Customs (CBIC) recently started automatic electronic payment of duty drawback amounts directly into exporters’ bank accounts. Relevance: GS III: Indian Economy Dimensions of the Article: About Duty Drawback Scheme Key Facts about Central Board of Indirect Taxes and Customs (CBIC) -Source: The Hindu
Household Consumption Expenditure Survey
Context: Recently, the detailed report of Household Consumption Expenditure Survey (HCES) 2022-23 was released by Ministry of Statistics and Programme Implementation (MoSPI). Relevance: GS III: Indian Economy Dimensions of the Article: What is the Household Consumption Expenditure Survey? Highlights of the Recent Household Consumption Expenditure Survey National Statistical Office (NSO): -Source: Indian Express
About Pump and Dump Scheme
Context: The Securities Exchange Board of India’s (SEBI) recently slapped a fine of Rs 7.75 crore on 11 individuals for allegedly operating a ‘pump and dump’ scheme. Relevance: GS III: Indian Economy About Pump and Dump Scheme: How Pump and Dump Schemes Work: Impact: *Under the SEBI guidelines, pump and dump schemes are entirely prohibited. […]
Public Sector Banks Issue Look-out Circulars
Context: Since 2018, six Public Sector Banks (PSBs) have issued 1,071 Look-out Circulars (LOCs) to prevent wilful defaulters from absconding to other countries. Relevance: GS III: Indian Economy Dimensions of the Article: What is a Look-Out Circular (LOC)? Issuance and Validity Maintenance and Action Power of Public Sector Banks (PSBs) About Wilful Defaulter: Criteria for […]