Category: Economics Current Affairs

Unified Payments Interface (UPI): The Unified Payments Interface (UPI) payments system has cut across the Indian socio-economic digital divide amazingly fast. Even though UPI is indeed a groundbreaking innovation in the digital payments landscape, reliability and security are still considered to be at stake, keeping many individuals and businesses apprehensive about the payment system. Unified […]

Input Tax Credit: The CBIC (Central Board of Indirect Taxes and Customs) issued guidelines on blocking of tax credit by GST (Goods and Services Tax) field officers, saying that such blocking should be on the basis of ‘material evidence’ and not just out of ‘suspicion’. Input Tax Credit: It is the tax that a business […]

eGCA (e-Governance in Directorate General of Civil Aviation): Jyotiraditya M. Scindia, Union Minster of Civil Aviation dedicated eGCA, the e-governance platform in Directorate General of Civil Aviation (DGCA) to the nation. DGCA has implemented its e-governance platform eGCA. The project has been aimed at automation of the processes and functions of DGCA, with 99 services […]

Customer Centric Initiatives Of The Reserve Bank Of India: Prime Minister Shri Narendra Modi will launch two innovative customer centric initiatives of the Reserve Bank of India on 12 November, 2021 at 11 AM via video conferencing. These initiatives are the RBI Retail Direct Scheme and the Reserve Bank – Integrated Ombudsman Scheme. RBI Retail […]

Digital Atlantic Charter Initiative: U.S. Air Force Brigadier General Robert Spalding has announced the Digital Atlantic Charter initiative, a public-private effort focused on safeguarding democracies worldwide. It is created in the spirit of the Atlantic Charter and following the recent AUKUS trilateral security partnership between Australia, U.K. and the U.S. The initiative supports countries in […]

Current Account Deficit: According to a recent report by British brokerage Barclays, India’s trade deficit has been jumping continuously since July 2021. The widening Current Account Deficit (CAD) is driven by the massive spike in commodity prices led by crude oil. The CAD is expected to reach $45 billion or 1.4% of GDP by March […]

RBI’s Retail Direct Scheme: The Prime Minister has launched the Reserve Bank of India (RBI)- Retail Direct Scheme to open up the Government bond market for the retail investors. In February 2021, RBI proposed to allow retail investors to open gilt accounts with the central bank to invest in Government securities (G-secs) directly. Under the […]

Tenures Of CBI & ED Directors Extended: The President promulgated two ordinances that would allow the Centre to extend the tenures of the directors of the Central Bureau of Investigation and the Enforcement Directorate from two years to up to five years. The Delhi Special Police Establishment (DSPE) Act,1946 and the Central Vigilance Commission (CVC) […]

H-1B Visa Holders: The United States has agreed to provide automatic work authorisation permits to the spouses of H-1B visa holders — a move that is likely to benefit thousands of Indian professionals based in the US. As per the latest amendments, while L-1 spouses will be given the extension without applying for it, H-4 […]

Services Export Target: Minister of Commerce and Industry Piyush Goyal said that India is poised to achieve a services export target of one trillion dollars by 2030. He was addressing the Global Services Conclave-2021 in New Delhi. The Minister said that in 2020, India became the 7th largest services exporter in the world, moving up […]