TDS On Virtual Digital Assets: The Government of India clarified that the TDS on virtual digital assets (VDA) continues to be 1%. The clarification from the Income Tax comes at a time when some media reports mentioned that the TDS rate for virtual digital assets has been dropped to 0.1% from 1% as announced earlier […]
Category: Economics Current Affairs
Regulations Review Authority
Regulations Review Authority: The Regulations Review Authority of the Reserve Bank of India (RBI) has recommended withdrawal of 714 regulatory instructions which have either become obsolete or redundant. This is part of the RRA 2.0 recommendations on issues such as, Ease of compliance, Reduction of regulatory burden Rationalization of reporting mechanism, Streamlining instructions and communication. […]
Hike in Repo Rate
Repo Rate: The Reserve Bank of India (RBI) Governor announced that the Monetary Policy Committee voted unanimously to hike the benchmark interest rate by 50 bps with immediate effect. The Reserve Bank of India (RBI) increased the repo rate by 50 basis points to 4.90%. The earlier repo rate was 4.40% after the rates were […]
Monetary Policy Committee Decisions: June 2022
The Monetary Policy Committee Decisions: The Monetary Policy Committee of Reserve Bank of India, which met from 6-8 June 2022, took the following decisions. Taking into account the increase in housing prices since the limits were last revised and considering the customer needs, it has been decided to increase the existing limits on individual housing […]
Resolution of First Set of Bad Loans
What Is a Bad Bank? The Ministry of Finance has announced that the National Asset Reconstruction Company (NARCL) along with the India Debt Resolution Company (IDRCL) will take over the first set of bad loans from banks and try to resolve them. The health of the balance sheets of Indian banks has improved significantly over […]
Single Nodal Agency (SNA) Dashboard
Single Nodal Agency (SNA) Dashboard: Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman launched the Single Nodal Agency (SNA) Dashboard during the Iconic Week Celebrations of Azadi Ka Amrit Mahotsav celebrations of Ministry of Finance, in New Delhi. The Ministry of Finance & Ministry of Corporate Affairs’ Iconic Week celebrations from 6th June […]
Stagflation
Stagflation: Authorities worldwide, particularly central bankers, foresaw a period in the near future “where growth is low, unemployment is at least up a little bit and inflation is still high”, adding, “So you could call that stagflation”. The most difficult problem for policymakers is when inflation runs high even as economic output either stagnates or, […]
What Is a Green Bond?
What Is a Green Bond? India is likely to face an uphill battle if it goes ahead with its first sovereign green bond sale as it aims to issue the securities in rupees, putting off most overseas investors. The timing might not be ideal for India though, especially for a rupee issuance. The currency has […]
Government-e-Marketplace (GeM)
Government-e-Marketplace (GeM): The Union Cabinet cleared a proposal allowing cooperatives to sell products on the Government-e-Marketplace (GeM) platform in a transparent manner. The move will benefit 27 crore people associated with 8.5 lakh cooperatives. The micro and medium small industries will get buyers and it will boost the prospects of “Vocal for local” and Atma […]
Gig Workers
Gig Workers: Concerned at the lack of job and social security among gig and platform workers, the Centre has decided to train officials of the Union and State governments on technological change, new forms of employment, working conditions and mechanisms to protect labour and social security rights of these workers. Gig workers are independent contractors, […]
