Shiksha Saptah 2024: The Union Ministry of Education celebrated the 4th anniversary of the National Education Policy (NEP) 2020 with a week-long campaign called “Shiksha Saptah.” This campaign is designed to promote and celebrate the achievements and objectives of NEP 2020. Shiksha Saptah: Vidyanjali Program is an initiative by the Department of School Education and […]
Category: Economics Current Affairs
Indexation
Indexation: The changes in the long-term capital gains (LTCG) tax regime, particularly the withdrawal of the indexation benefit, has emerged as one of the most contentious decisions announced in the Union Budget for 2024-25. Indexation is the process of adjusting the original purchase price of an asset or investment in order to neutralise the impact […]
Subvention Scheme
Subvention Scheme: The Supreme Court has provided relief to homebuyers in the National Capital Region (NCR) under the Subvention scheme. The Supreme Court has instructed banks not to take coercive action against individuals who have not received possession of their flats. Subvention Scheme involve a tripartite agreement between the buyer, banker, and developer. The buyer […]
Angel Tax : Union Budget 2024-2025
Angel Tax : Union Budget 2024-2025 The Union Minister for Finance proposed to abolish ‘angel tax’ for all classes of investors, while presenting the Union Budget 2024-25 in Parliament. Angel Tax was levied on the capital raised via the issue of shares by unlisted companiesfrom an Indian investor if the share price of issued shares […]
Climate Finance Taxonomy
Climate Finance Taxonomy: Presenting the Union Budget for 2024-25, the Finance Minister announced that the government would develop a ‘climate finance taxonomy’. Climate Finance Taxonomy is a system that classifies which parts of the economy may be marketed as sustainable investments. It helps guide investors and banks in directing trillions toward impactful investments to tackle […]
Skill Loan Scheme
Skill Loan Scheme: The Union Finance Minister recently announced a revision to the model skill loan scheme, which will now facilitate loans up to Rs 7.5 lakh backed by a guarantee from a government-promoted fund. Skill Loan Scheme was introduced in July, 2015, to offer institutional credit to individuals pursuing skill development courses aligned with […]
Tax Incidence
Tax Incidence: The Union government recently said Goods and Services Tax (GST) has decreased tax incidence on the common man. Tax Incidence is an economic term for understanding the division of a tax burden between stakeholders, such as buyers and sellers or producers and consumers. The initial incidence (also called statutory incidence) of a tax […]
NPS Vatsalya Scheme
NPS Vatsalya Scheme: The finance minister recently made the announcement of a new pension scheme under the National Pension Scheme (NPS), called NPS Vatsalya. NPS Vatsalya Scheme is a scheme under the National Pension Scheme (NPS). It is designed to help parents and guardians plan for their children’s future financial needs. Under this […]
Economic Survey 2023-24
Economic Survey 2023-24: Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2023-24 in Parliament, setting the stage for the Union Budget 2024-25 . The latest Economic Survey remains bullish on India’s growth and macroeconomic outlook. It pegged India’s GDP growth for FY25 at 6.5-7 per cent and the country’s inflation lower at 4.5 […]
International Centre For Audit Of Local Governance
International Centre For Audit Of Local Governance: The International Centre for Audit of Local Governance (iCAL) was inaugurated by the Comptroller and Auditor General (CAG) of India. iCAL, the first of its kind in India, aims to set global standards for auditing local governance bodies. iCAL will bring together policymakers, administrators, and auditors associated with […]