What is GST? Goods and Services Tax (GST) is a value-added tax at each stage of the supply of goods and services precisely on the amount of value addition achieved. It seeks to eliminate inefficiencies in the tax system that result in ‘tax on tax’, known as cascading of taxes. GST is a destination-based tax… Continue reading All you need to know about GST
Category: Indian Economy
All you wanted to know about PARA
What is it? The Public Sector Asset Rehabilitation Agency or PARA will be an independent entity that will identify the largest and most vexatious NPA accounts held by banks, and then buy these out from them. By consolidating problem accounts across banks, the PARA is expected to solve two problems. One, it can effect speedier… Continue reading All you wanted to know about PARA
Government launches ‘SEVA’ App
Govt launched the Saral Eindhan Vitaran Application (SEVA), for power sector consumers. SEVA is a part of ‘Digital India’ initiative, which is aimed at increasing the Consumer Connect as well as the Transparency and Accountability in Coal dispatch. The consumer friendly mobile app helps in tracking of coal dispatch to 118 Power Plants through Fuel… Continue reading Government launches ‘SEVA’ App
Cabinet approves National Steel Policy 2017
The Indian steel sector has grown exponentially over the past few years to be the third largest producer of steel globally, contributing to about 2% of the country's GDP and employing about 5 lakh people directly and about 20 lakh people indirectly. Key features of the National Steel Policy 2017: Create self-sufficiency in steel production… Continue reading Cabinet approves National Steel Policy 2017
Anti-dumping duty imposed on clear float glass imports from Iran
India has imposed anti-dumping duty on a certain type of glass from Iran and also Chinese aluminium radiators to protect domestic industry from cheap imports. Clear float glass is used in construction, refrigeration, mirror and solar energy industries. The product is a superior quality of glass. Anti-dumping steps are taken to ensure fair trade and… Continue reading Anti-dumping duty imposed on clear float glass imports from Iran
All about revision of Index of Industrial production (IIP)
Definition: The Index of Industrial Production (IIP) is an index which shows the growth rates in different industry groups of the economy in a stipulated period of time. The IIP index is computed and published by the Central Statistical Organisation (CSO) on a monthly basis. Description: IIP is a composite indicator that measures the growth… Continue reading All about revision of Index of Industrial production (IIP)
Government plans 27,000km economic corridors
The government is planning to make 44 highway stretches totalling 27,000 km to be developed as “economic corridors” for seamless movement of cargo vehicles, cut delays, deepen economic activities and create jobs. This will be the biggest highway expansion plan since the rolling out of Golden Quadrilateral and North South East West Corridor, totalling 13,000… Continue reading Government plans 27,000km economic corridors
Merger of Associate Banks with SBI
Introduction The five banks set to merge with SBI are State Bank of Bikaner and Jaipur, State Bank of Travancore,State Bank of Mysore, State Bank of Hyderabad and State Bank of Patiala. SBI will also absorbBharatiya Mahila Bank. This is a bigger merger. 6 banks will be merging at the same time. This has never happened… Continue reading Merger of Associate Banks with SBI
More cold chains, food parks to boost farm incomes
The government is planning to set up 100 new cold chain projects at a cost of Rs. 12,000 crore to Rs.13,000 crore. The centre has also kicked off the process to invite investors to set up six new mega food parks. These measures are aimed at boosting farm sector incomes by establishing farm to fork… Continue reading More cold chains, food parks to boost farm incomes
The currency question
Livemint The recent agreement between the Government of India and the Reserve Bank of India to make inflation targeting the central bank’s prime focus has long way to go. This move represents an important structural shift in one of the two pillars of conventional macroeconomic policy (the other, of course, being fiscal policy). Background: Since… Continue reading The currency question
