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Is Recommendation of GST Council Binding?

GST Council’s Proposals: The Supreme Court, in a judgment championing the importance of “cooperative federalism”, held that Union and State legislatures have “equal, simultaneous and unique powers” to make laws on Goods and Services Tax (GST) and the recommendations of the GST Council are not binding on them. The apex court’s decision came while confirming […]

Gifted Child Category : Qualifying Criteria By AICTE

Gifted Child Category : Qualifying Criteria By AICTE Last month, the All India Council for Technical Education (AICTE) stated that it will allow institutions to set aside two more seats under the “gifted child” category. The criteria: A prizewinner of at least one national/international level competition organised by a government or a recognised private body. […]

Remittance Expected To Increase By 4.2 Percent In 2022

Remittance Expected To Increase By 4.2 Percent In 2022: Officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2 percent in 2022 to reach $630 billion. This follows an almost record recovery of 8.6 percent in 2021, according to the World Bank’s latest Migration and Development Brief released today. […]

Central African Republic (CAR) Became The Second Country To Adopt Bitcoin

Central African Republic (CAR) Became The Second Country To Adopt Bitcoin: The Central African Republic (CAR) became the second country after El Salvador to adopt Bitcoin as legal tender. The Union Budget 2022-2023 of India has also proposed to introduce a digital currency in the coming financial year. It was also announced that “any income […]

Foreign Exchange Reserves : RBI Added 16.58 Tonnes Of Gold

Foreign Exchange Reserves: The Reserve Bank of India (RBI) added another 16.58 tonnes of gold to the country’s foreign exchange reserves in the last six months, bringing the country’s gold holdings to more than 700 tonnes (around 760.42). Gold was acquired by the RBI at a time when Foreign Portfolio Investors (FPIs) left India, and […]

Foreign Contribution (Regulation) Act, 2010

Foreign Contribution (Regulation) Act, 2010: Representatives of NGOs, middlemen and public servants of Foreign Contribution Regulation Act (FCRA) division of MHA were recently arrested by the CBI for committing violations of FCRA provisions and facilitating illegal clearances in lieu of bribes”. FCRA clearances have been a fraught issue for several years, and the government has […]