What is Basic Customs Duty (BCD)? The Government recently reduced the Basic Customs Duty (BCD) on major imported crude edible oils with a view to moderating domestic edible oil prices. Basic Customs Duty (BCD) is a type of tax imposed on goods imported into India. It is the principal custom duty levied on imported goods. […]
Category: Economics Current Affairs
What is Transfer Pricing?
What is Transfer Pricing? The Finance Minister recently urged BRICS nations to share their experiences on treaty interpretation and multilateral negotiations in international taxation, saying global transfer pricing disputes “disproportionately” burden developing countries. Transfer pricing refers to the prices of goods and services that are exchanged between companies under common control. For instance, when a […]
World Circular Economy Forum 2026
World Circular Economy Forum 2026: The World Circular Economy Forum (WCEF) 2026 was held in Gandhinagar, Gujarat, under the theme “Circular Economy: Transition for People and Prosperity”. It was the first time WCEF was hosted in South Asia, focusing on practical and scalable circular economy solutions.The Central Pollution Control Board (CPCB), the Ministry of Environment, […]
The OMO (Open Market Operation) Auction
The OMO (Open Market Operation) Auction: The Reserve Bank of India (RBI) conducted an Open Market Operation (OMO) sale auction, offloading ₹25,000 crore worth of Government of India securities (G-Secs) to drain durable surplus rupee liquidity from the banking system. It is a quantitative monetary policy tool through which the central bank (RBI) conducts outright […]
Real-World Asset Tokenisation
Real-World Asset Tokenisation: The Government of Maharashtra has proposed the Digitisation and Exchange of Land Token Assets (DELTA) Act to establish a state-backed legal framework for Real-World Asset (RWA) tokenisation. The Act aims to make Maharashtra India’s first “tokenised State” by converting physical assets such as land into secure and tradable digital tokens.With land serving […]
SPARSH Pension System
SPARSH Pension System: Defence Accounts Department (DAD) has achieved a remarkable milestone in the normalization of discrepant pension cases on SPARSH (System for Pension Administration – Raksha) through a focused and concentrated approach. SPARSH Pension System is an initiative of the Ministry of Defence, Government of India. SPARSH is world’s largest pension system for defence […]
India’s Bamboo Economy
India’s Bamboo Economy: Bamboo has gained attention as a sustainable livelihood resource due to its growing role in rural entrepreneurship, handicrafts, construction and green industries. Bamboo has traditionally supported rural and tribal livelihoods through handicrafts, construction and small-scale enterprises. It has diverse applications ranging from traditional crafts and food products to furniture and modern construction […]
Financial Intelligence Unit- India
Financial Intelligence Unit- India: The Director, Financial Intelligence Unit-India (FIU-IND) has issued notices for non-compliance to following fifteen (15) Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act, 2002(PMLA). It was set by the Government of India in 2004. It is the central national agency responsible for […]
Digital Hawala
Digital Hawala: The Financial Action Task Force (FATF) has flagged the growing use of digital hawala for money laundering and terror financing.Its latest report notes that nearly 70% of surveyed jurisdictions have detected the use of new technologies in underground banking networks. Digital hawala is the technology-enabled evolution of the traditional informal hawala system, where […]
Asian-Pacific Postal Union
Asian-Pacific Postal Union: Vinaya Prakash Singh, a 1988 batch officer of the Indian Postal Service, has been recently reelected as Secretary-General of the Asian-Pacific Postal Union (APPU) for a second consecutive four-year term. Asian-Pacific Postal Union (APPU) is an intergovernmental organization of 32 member countries of the Asian-Pacific region. Headquarters: Bangkok, Thailand. It is the […]
