economy

Goods and Services Tax (GST), Objectives, Features, Subsumed Taxes

Goods and Services Tax (GST) Goods and Services Tax (GST) is an indirect tax system introduced in India on July 1, 2017, which subsumed multiple indirect taxes levied by the central and state governments, such as VAT, excise duty, and...

Evaluating the Impact of Corporate Tax Cuts

Context: In the years before the pandemic, two of the largest economies in the world — the U.S. and India — cut corporate tax rates in an attempt to stimulate growth. Tax Cuts in the USA Legislation: The Tax Cuts...

World Bank Raises India’s Growth Forecast to 7% for FY25

The World Bank has raised India's growth forecast to 7% for FY25, up from 6.6%, driven by a recovery in agriculture, increased rural demand, and government infrastructure investments. Despite a slowdown in the April-June quarter due to reduced government spending,...

Gender Budget Statement in India 2024-25 and Contributing Factors

Context: This year's share of allocations to pro-women schemes stands at approximately 6.8% of the total budget expenditure for 2024-25. Overview of the Gender Budget Statement (GBS) The GBS has been instrumental in allocating funds to pro-women programs since its...

India Post Payments Bank (IPPB) Celebrated 7th Foundation Day

India Post Payments Bank (IPPB) Celebrates 7th Foundation Day India Post Payments Bank (IPPB), a significant force in advancing financial inclusion across the nation, celebrates its 7th Foundation Day on 1st September 2024. Launched nationwide in 2018 by Prime Minister...

Supreme Court’s Stance on Bail in Money Laundering Cases

SC on Bail in Money Laundering cases The Supreme Court of India has progressively shifted its stance on bail, especially in the context of money laundering cases under the Prevention of Money Laundering Act (PMLA). More in News The court...

RBI to launch Unified Lending Interface (ULI), Check Features and Benefits

Context: The RBI Governor has announced that the nationwide launch of the Unified Lending Interface (ULI) will happen soon. What is Unified Lending Interface (ULI)? ULI is a digital platform to simplify the lending ecosystem. It is designed and developed...

Sustainable Mass Employment, Components, Significance

India, despite its rapid economic growth, faces a significant challenge in providing sustainable employment opportunities for its vast population. What is Meant by Sustainable Employment? Sustainable employment is the ability of the employee to provide added value for an organisation...

India’s Inflation Problem, Reasons and Impacts

Context: The Economic Survey preceding the 2024 Union Budget proposed excluding food prices from the Reserve Bank of India's (RBI) inflation target, suggesting a shift from targeting headline inflation to core inflation. More in News This recommendation arises amid concerns...

RBI enhances UPI tax payment limit to ₹5 lakh per Transaction

The RBI has decided to enhance the limit for tax payments via UPI from ₹1 lakh to ₹5 lakh per transaction. RBI is also provisioning to introduce ‘Delegated Payments’ through UPI. This will enable a secondary user, like a spouse,...