Economy

Explained: What is the basis of MSP? How is it fixed, and how binding is it?

After reading this article, answer the following question for Mains answer writing practice. Also you can get your answer checked free of cost by clicking on the following link. For Mains:https://www.jatinverma.org/home/typepost/dailymainsanswerwriting Context: The Cabinet Committee on Economic Affairs (CCEA)... .Read more

Updated on 25 September, 2020 GS3 Economy

CAG: Centre broke the law, used funds for GST compensation elsewhere

After reading this article, answer the following question for Mains answer writing practice. Also you can get your answer checked free of cost by clicking on the following link. For Mains:https://www.jatinverma.org/home/typepost/dailymainsanswerwriting Context: The Comptroller and Auditor General (CAG) of Ind... .Read more

Updated on 25 September, 2020 GS3 Economy

Bilateral Netting of Qualified Financial Contracts Bill 2020

Context: The Lok Sabha passed the Bilateral Netting of Qualified Financial Contracts Bill 2020 that seeks to further develop the financial market in India and provide an unambiguous legal framework for enforceability of netting of a qualified financial contract. This Bill is significant as India currently does not have a legal framework for bilateral n... .Read more

Updated on 24 September, 2020 Economy

Parliament passes Insolvency and Bankruptcy Code Bill

Context: The Parliament passed a bill that temporarily suspends initiation of corporate insolvency resolution process under the IBC, for a period not exceeding one year from March 25, to provide relief to companies affected by COVID-19 to recover from the financial stress. The Insolvency and Bankruptcy Code (Second Amendment) Bill 2020 The propose... .Read more

Updated on 22 September, 2020 GS3 Economy

Shell Companies and Section 248 of the Companies Act, 2013 (PIB)

Context: Based on non-filing of financial statements consecutively for two years or more, companies were identified and after following due process of law, more than 3.8 lakh shell companies were struck off during the last three years. Analysis The term "shell company" is not defined under the Companies Act. It normally refers to a company without... .Read more

Updated on 22 September, 2020 Economy

DoT unlikely to agree on lower licence fee recommended by Trai, alter AGR definition

Context: The Department of Telecommunications (DoT) is unlikely to accept the Telecom Regulatory Authority of India (Trai) recommendations on lowering the licence fee of telcos from 8 per cent to 6. More on news: In its recommendations in 2015, TRAI had suggested lowering the licence fee of telcos to 6 per cent from the current 8 and suggested... .Read more

Updated on 21 September, 2020 GS3 Economy