Category: Economics Current Affairs

Production Linked Incentive (PLI) Scheme For Automobile Industry: Union Cabinet has approved the Production Linked Incentive (PLI) Scheme for Automobile Industry. The PLI scheme for the auto sector will incentivize high value Advanced Automotive Technology vehicles and products. The incentive structure will encourage industry to make fresh investments for indigenous global supply chain of Advanced […]

Production Linked Incentive (PLI) Scheme For Drone Industry: Union Cabinet has approved the Production Linked Incentive (PLI) Scheme for Drone Industry. The PLI Scheme for the Drones and Drone components industry addresses the strategic, tactical and operational uses of this revolutionary technology. The total amount allocated for the PLI scheme for drones and drone components […]

Index Of Industrial Production: India’s industrial output grew by 11.5% in July compared to a 10.5% contraction a year ago, as per quick estimates from the National Statistical Office (NSO). Mining, manufacturing and electricity recorded growth of 19.5%, 10.5% and 11.1%, respectively, albeit driven by favourable base effect. The country’s output of the eight core […]

IRDAI (Trade Credit Insurance) Guidelines, 2021:   The Insurance Regulatory and Development Authority of India (IRDAI) has issued revised guidelines for trade credit insurance. Trade credit insurance protects businesses against the risk of non-payment for goods and services. It usually covers a portfolio of buyers and indemnifies an agreed percentage of an invoice or invoices […]

National Financial Reporting Authority (NFRA):   As it seeks to enhance engagement with stakeholders, the National Financial Reporting Authority (NFRA) will set up a single stakeholders’ advisory group as well as a research cell to support the group. A large majority of the respondents have expressed the urgent need for a settlement mechanism rather than […]

T+1 Settlement System: If stock Markus exchanges agree to the proposal for the T+1 settlement system made by the Securities and Exchange Board of India (Sebi), investors will get money for shares they sold or bought in their accounts faster, and in a safer and risk-free environment. On September 7, Sebi allowed stock exchanges to […]

Insolvency And Bankruptcy Code (IBC): The Supreme Court has said “judicial delay” was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to “strictly adhere” to the timelines under the new law and clear pending resolution plans. […]

Input Tax Credit (ITC): The Supreme Court has confirmed a Madras High Court judgment which upheld a fiscal formula included in the Central Goods and Service Tax Rules to execute refund of unutilised Input Tax Credit (ITC) accumulated on account of input services. The Madras HC had held last year that Section 54(3) of the […]

Serious And Major Concerns About Cryptocurrencies: RBI Governor Shaktikanta Das recently said the central bank continues to have “serious and major” concerns about cryptocurrencies like Bitcoin and has conveyed them to the government. Private cryptocurrencies like Bitcoin, which are unregulated, mined through a complex process and have highly volatile prices, are under the regulatory gaze […]