Harmonised System Of Nomenclature HSN Code, Or Service Accounting Code, SAC: The government has made it mandatory that a GST taxpayer having turnover of more than 5 crore rupees in the preceding financial year will have to furnish 6 digits Harmonised System of Nomenclature HSN Code, or Service Accounting Code, SAC from April 1, 2021, […]
Category: Economics Current Affairs
India’s Trade Deficit : Reasons
India’s Trade Deficit: Preliminary data released by the government showed that India’s trade deficit in goods widened to USD 14.11 billion in March 2021 from USD 9.98 billion during March 2020. Merchandise Exports: India’s merchandise exports in March 2021 were USD 34.0 billion as compared to USD 21.49 billion in March 2020, an increase of […]
MyNEP2020 Web Portal : Important Points
MyNEP2020: Union Education Minister launched the “MyNEP2020” Platform of NCTE Web Portal. The platform seeks to invite suggestions from the stakeholders for preparing a draft for the development of National Professional Standards for Teachers (NPST) and National Mission for Mentoring Program membership (NMM). The “MyNEP2020” platform will be operational from 1st April 2021 to 15th […]
Small Savings Instruments For The First Quarter Of 2021-22
Small Savings Instruments For The First Quarter Of 2021-22: The government has sharply slashed the rates on all small savings instruments for the first quarter of 2021-22. It has brought the rate of return on the Public Provident Fund down from 7.1% to 6.4% and effecting cuts ranging from 40 basis points (0.4%) to 110 […]
Emergency Credit Line Guarantee Scheme (ECLGS) 3.0
Emergency Credit Line Guarantee Scheme (ECLGS) 3.0: In recognition of the continuing adverse impact of the COVID-19 pandemic on certain service sectors, the Government has now extended the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) through the introduction of ECLGS 3.0. ECLGS 3.0 will cover business enterprises in Hospitality, Travel & Tourism, Leisure […]
Pakistan Will Allow The Import Of Cotton And Sugar From India
Pakistan Will Allow The Import Of Cotton And Sugar From India: Pakistan will allow the import of cotton and sugar from India, partially reversing a two-year-old decision to suspend all trade with India. The decision to cancel trade was taken by the Pakistan government in August 2019, days after the Indian government amended Article 370 […]
Inflation Target Of 4% : RBI
Inflation Target Of 4%:RBI: The Government of India has decided to retain the inflation target of 4%, with a tolerance band of +/- 2 percentage points for the Monetary Policy Committee of the Reserve Bank of India (RBI) for the coming five years. Earlier, the RBI in its Currency and Finance (RCF) report for the […]
Overseas Citizens Of India (OCI)
Overseas Citizens Of India (OCI): People of Indian origin and the Indian diaspora having Overseas Citizens of India (OCI) cards will not have to carry their old, expired passports for travel to India, as was required earlier, according to a government notification. OCI cardholders: The government of India launched the ‘Overseas Citizenship of India […]
Supreme Court on National Company Law Appellate Tribunal (NCLAT)
Tata Group’s Decision To Remove Cyrus Pallonji Mistry As The Executive Chairman And Director Of Tata Sons: The Supreme Court overturned the National Company Law Appellate Tribunal (NCLAT) decision and upheld Tata Group’s decision to remove Cyrus Pallonji Mistry as the Executive Chairman and Director of Tata Sons. Supreme Court Observations: Minority shareholders or their […]
Right To Information (RTI) Requests In 2019-20
Right to Information (RTI) requests in 2019-20: The Centre has only rejected 4.3% of all Right to Information (RTI) requests in 2019-20, the lowest ever rate, according to the Central Information Commission’s annual report. However, almost 40% of these rejections did not include any valid reason, as they did not invoke one of the permissible […]
