Context: Union Finance and Corporate Affairs recently stated that India would need four or five more banks like the SBI to support economic growth. Why does India need big banks? The way in which the economy is shifting to a different plane altogether, the way in which industry is adapting, so many new challenges keep arising. To addre... .Read more
Updated on 27 September, 2021 GS3 Economy
Context: Setting the stage for an overhaul of the multiple tax rates under the Goods and Services Tax regime, the government has tasked a Group of Ministers (GoM), led by Karnataka Chief Minister, with proposing a rationalisation of tax rates and considering the merger of different tax slabs within two months. Current tax regime Currently, the GST r... .Read more
Context: After two successive droughts in 2014-15 and 2015-16, Prime Minister set out an ambitious target to double farmers’ incomes by 2022-23. The Ashok Dalwai Committee said that the target of doubling farmers’ incomes was in real terms and the goal was to be achieved over seven years with the base year of 2015-16. It... .Read more
Context: Two recent cases clearly demonstrate that our investigating agencies are a face without a heart. On September 10, 2021, officers of the Income-Tax Department visited the premises of NewsClick and Newslaundry. A survey by officers of the IT-Department is governed by Section 133A of the Income-Tax Act. Background ... .Read more
Context The government has announced the setting up of the National Asset Reconstruction Company Ltd (NARCL). This will take over bad debts of nearly ₹2-lakh crore from banks. More in News The government is also providing a back-up guarantee of over ₹30,600 crore to the entity. Indian Debt Resolution Company Ltd, whic... .Read more
Context: The Union Finance Minister stated that the Indian economy was on a sustained path of revival and cited the rise in GST collections and direct taxes to support her assertion. The confidence in the Indian stock market was growing as retail and small investors were keenly investing money in the market. With government revenues picking up, along... .Read more
Updated on 25 September, 2021 GS3 Economy
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