Fixation Of Minimum Wages And National Floor Minimum Wages: The Ministry of Labour & Employment has constituted the Expert Group to provide recommendations to the government on the fixation of Minimum Wages and National Floor Minimum Wages. The Group has been constituted for a period of three years from the date of notification. The Expert […]
Category: Economics Current Affairs
World Employment And Social Outlook Trends Report 2021
World Employment And Social Outlook Trends 2021 Report: ILO: The International Labour Organisation (ILO) has released the World Employment and Social Outlook: Trends (WESO) report 2021. Impact of Covid: It has pushed over 100 million more workers into poverty worldwide. The world would be 75 million jobs short at the end of this year compared […]
New Pension Rules For Civil Servants
New Pension Rules For Civil Servants: The Central Government has amended its pension rules putting new restrictions on officials of intelligence and security organizations after retirement. The government has amended Rule-8(3)(a) of the CCS (Central Civil Services) Pension Rules-1972. The Centre has notified Central Civil Services (Pension) Amendment Rules, 2020. The said rules were first […]
What is Digital Services Tax?
Digital Services Taxes: The United States recently announced 25% tariffs on over $2 billion worth of imports from six nations over their digital services taxes, but immediately suspended the duties to allow time for international tax negotiations to continue. The S. Trade Representative’s office had approved the threatened tariffs on goods from Britain, Italy, Spain, […]
GDP Contracted By 7.3% In 2020-21
GDP Contracted By 7.3% In 2020-21: India’s Gross Domestic Product (GDP) contracted by 7.3% in 2020-21, as per provisional National Income estimates released by the National Statistical Office. GDP growth in 2019-20, prior to the COVID-19 pandemic, was 4%. The Gross Value Added (GVA) in the economy shrank 6.2% in 2020-21, compared to a […]
Index Of Eight Core Industries (ICI) : April 2021
Index Of Eight Core Industries (ICI) For The Month Of April 2021.: The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade released the Index of Eight Core Industries (ICI) for the Month of April 2021. ICI measures combined and individual performance of production in selected eight core industries viz. Coal, […]
Centre Extends Powers Related To Citizenship Application
Centre Extends Powers Related To Citizenship Application: The Central Government issued a notification granting powers related to citizenship applications under existing rules to authorities of five states. The order has been issued under the Citizenship Act, 1955 and the Citizenship Rules, 2009 and not under the Citizenship Amendment Act, 2019 since its rules have not […]
The Economic Community of West African States (ECOWAS)
The Economic Community of West African States (ECOWAS): The Economic Community of West African States (ECOWAS) is attempting to mediate to solve the crisis in Mali. Since 1960, when Mali gained independence from France, there have been five coups — and only one peaceful transition from one democratically elected president to another. Recent coup: Nine […]
Emergency Credit Line Guarantee Scheme
Emergency Credit Line Guarantee Scheme: On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy, Government has further enlarged the scope of Emergency Credit Line Guarantee Scheme as under. ECLGS 4.0: 100% guarantee cover to loans up to Rs.2 crore to hospitals/nursing homes/clinics/medical […]
43rd GST Council Meeting 2021 : Important Points
The 43rd GST Council: The 43rd GST Council met under the Chairmanship of the Union Finance Minister. The GST Council has made the following recommendations: As a COVID-19 relief measure, a number of specified COVID-19 related goods such as medical oxygen, oxygen concentrators, and other oxygen storage and transportation equipment, certain diagnostic markers test kits […]
