Category: Economics Current Affairs

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 […]

Periodic Labour Force Survey (PLFS): The National Statistical Office (NSO) released the quarterly bulletin of Periodic Labour Force Survey (PLFS) for October-December 2020. This dataset differs from the Annual Report of Periodic Labour Force Survey, which covers both rural and urban areas. Unemployment data for urban areas is released quarterly. NSO is the central statistical […]

Indian citizens To Work In The Portuguese Republic: The Union Cabinet has approved the signing of an agreement on the recruitment of Indian citizens to work in the Portuguese Republic between the Government of India and Portugal. The present agreement would set an institutional mechanism for partnership and cooperation between India and Portugal on sending […]

‘Main Bhi Digital 3.0’: Ministry of Housing and urban Affairs (MoHUA) in collaboration with the Ministry of Electronics & Information Technology (MeitY) launched the pilot drive ‘Main Bhi Digital 3.0’ – A special Campaign for Digital Onboarding and Training for street vendors under PM SVANidhi scheme across 223 cities in the country. The BharatPe, Mswipe, […]

Delegation Of Financial Powers To Defence Services (DFPDS), 2021 Rules.: The Ministry of Defence has released the Delegation of Financial Powers to Defence Services (DFPDS), 2021 rules. The primary focus of the enhanced delegation of financial powers is to overcome procedural delays, bring about greater decentralisation and operational efficiency. The DFPDS 2021 rules is another […]

Production Linked Incentive (PLI) Scheme For Textiles: Government of India has approved Production Linked Incentive (PLI) Scheme for Textiles for MMF Apparel, MMF Fabrics and 10 segments/ products of Technical Textiles with a budgetary outlay of Rs. 10,683 crore. PLI for Textiles along with RoSCTL, RoDTEP and other measures of Government in sector e.g. providing […]

GST Appellate Tribunal: The Supreme Court has warned that the government had no option but to constitute the Goods and Services Tax (GST) Appellate Tribunal. GST Appellate Tribunal: The GST Appellate Tribunal (GSTAT) is the second appeal forum under GST for any dissatisfactory order passed by the First Appellate Authorities. The National Appellate Tribunal is […]