economy

New Tax Regime vs Old Tax Regime, Comparative Analysis

Taxation systems play a vital role in shaping a country's economy and influencing individual financial decisions. In India, taxpayers have the option to choose between the new and old tax regimes, each with its own set of benefits and drawbacks....

Household Savings, Concerns About Rising Household Debt

Context: India has seen a sharp decline in household net financial savings, raising concerns about economic growth and stability. This decrease coincides with a rise in household debt burden. What is Household Savings? Household savings is the money that households add...

Why has India allowed FIIs to Invest in its Sovereign Green Bonds (SGrBs)?

Context: The Reserve Bank of India (RBI) has approved  Foreign Institutional Investors (FIIS) to invest in the Sovereign Green Bonds (SGrBs). India's commitment to achieving net-zero emissions by 2070, as announced by Prime Minister Narendra Modi at COP26, necessitates significant...

Wholesale Price Index (WPI) Latest Data in 2024

Wholesale Price Index Latest Data in 2024 Wholesale price inflation rose to a 3-month high of 0.53% in March 2024, compared to 0.2% in February 2024. Aspect Details Food Price Spike The increase was driven by a rise in the...

India Mauritius Double Taxation Avoidance Agreement (DTAA)

Context India has signed a protocol amending the Double Taxation Avoidance Agreement (DTAA) with Mauritius to plug treaty abuse for tax evasion or avoidance. The India-Mauritius Tax Treaty Amendment includes the introduction of the Principal Purpose Test (PPT) in Article...

Unemployment Rate in India, Current Rate is 8% February 2024

A recent report released by the International Labour Organization (ILO) and the Institute for Human Development (IHD) revealed that two out of every three unemployed individuals was a young graduate. Unemployment Rate in India: CMIE India continues to grapple with...

Food Inflation in India, Current Situation, International Prices

Context Food price inflation in India remains high (8.7% in February 2024) compared to overall inflation (5.1%). This poses a challenge for the RBI's Monetary Policy Committee (MPC) to cut interest rates. Food Inflation Food inflation refers to the rise...

Central Board of Direct Taxes (CBDT), Functions, Structure

The Election Commission has directed the CBDT to verify any mismatch in the information provided in the affidavit filed by Union Minister and BJP candidate Rajeev Chandrasekhar as he contests from Thiruvananthapuram. CBDT Released key Direct Tax Statistics through Time-Series...

Anti Dumping Duty, Goals, Legality and Examples

Context: The Directorate General of Trade Remedies (DGTR) recommended the imposition of anti-dumping duty on sodium cyanide (NaCN) imported from China, the European Union, Japan and Korea. What is Dumping? Dumping occurs when a country or company exports a product...

Editorial of the Day (9th Apr): Status of Indian Economy

Context: The Indian economy is projected to have 7% GDP growth in 2024-25. Indian Economy: Current Status Economic Growth and Optimism GDP Growth: India's GDP grew by 8.4% in Q3 of 2023-24, with manufacturing PMI at a 16-month high of...