Relief Measures For Taxpayers Under GST: In view of the corona pandemic, the government has announced various relief measures for taxpayers under GST law including a reduction in the interest rate and waiving of late fees. The Finance Ministry has issued a notification in this regard. A lower rate of interest of 9 percent for […]
Category: Economics Current Affairs
Meeting Of Foreign Ministers Of G7 Countries
Meeting Of Foreign Ministers Of G7 Countries: External Affairs Minister S Jaishankar will embark on a four-day visit to London to participate in a meeting of foreign ministers of G7 countries. India has been invited to the meeting as a guest country. The G-7 or ‘Group of Seven’ are Canada, France, Germany, Italy, Japan, the […]
Scheme of Financial Assistance to States for Capital Expenditure
Scheme of Financial Assistance to States for Capital Expenditure: The Ministry of Finance, Government of India has decided to provide an additional amount of up to Rs. 15,000 crore to States as interest-free 50-year loan for spending on capital projects. The Department of Expenditure has issued fresh guidelines in this regard on the “Scheme of […]
Sustainable Livelihoods For Tribal Households in India: TRIFED
Sustainable Livelihoods For Tribal Households in India: TRIFED has now entered into a collaborative project titled “Sustainable Livelihoods For Tribal Households in India” with The LINK Fund, a philanthropic operational foundation that is mandated to eradicate extreme poverty and mitigate the effects of climate change. TRIFED and The LINK Fund have entered into an MoU […]
What Is Asset Reconstruction Company (ARC)?
Asset Reconstruction Company (ARC): The Reserve Bank of India (RBI) in its report on Asset Reconstruction Companies (ARCs) said that the growth of the ARC industry has not been consistent over time and not always been synchronous with the trends in Non-Performing Assets (NPAs) of banks and Non-Banking Financial Companies (NBFCs). However, the RBI has […]
Ways And Means Advances (WMA): RBI
Ways And Means Advances (WMA): The Reserve Bank of India (RBI) decided to continue with the existing interim Ways and Means Advances (WMA) scheme limit of ₹51,560 crores for all States/ UTs shall for six months i.e., up to September 30, given the prevalence of COVID-19. Ways and means advances (WMA) is a mechanism used […]
India’s Crude Oil Production And Natural Gas Output Declined
India’s Crude Oil Production And Natural Gas Output Declined: According to the latest government data India’s crude oil production and natural gas output declined in the Financial Year (FY) 2020-2021. India’s crude oil and natural gas production have been falling consistently since 2011-12. Decline in Production: Crude Oil Production: Declined by 5.2% as private and […]
India On The Watchlist For Currency Manipulators
U.S. Government’s Decision To Put India On The Watchlist For Currency Manipulators: Union Commerce Secretary questioned the rationale behind the U.S. government’s decision to put India on the watchlist for currency manipulators and said the list constituted an intrusion into the policy space needed by central banks around the world to meet their mandates. The […]
The Council Of The European Union
The Council Of The European Union: The Council of the European Union approved conclusions on a European Union strategy for cooperation in the Indo-Pacific to reinforce its strategic focus to contribute to regional stability at a time of “rising challenges and tensions in the region. The Council tasked the High Representative and the Commission with […]
Britcoin : Digital Currency Of Britain
Britcoin: British authorities are exploring the possibility of creating a Central Bank Digital Currency, being touted as “Britcoin.” It is a step towards future-proofing Pound Sterling (currency of the United Kingdom) against cryptocurrencies and improving the payments system. About Britcoin: In the wake of declining cash payments in the country partly due to the Corona […]
