economy

Major Components of Union Budget, Key Concept and Significance

Context: The Budget consists of three major components: expenditure, receipts and deficit indicators. Fundamentals of Budget-Making Constitution: According to Article 112 of the Indian Constitution, the Union Budget of a year is a statement of the estimated receipts and expenditures...

Central Bank Digital Currencies (CBDCs), Types and Benefits

Context: US President Donald Trump has issued an executive order banning the establishment of a central bank digital currency. About Central Bank Digital Currency (CBDC) It is a digital form of national currency issued and regulated by a country’s central...

India’s Digital Economy, Characteristics and Challenges

Context India's digital economy is projected to grow at twice the pace of the overall economy and constitute 13.42% of national income by 2024-25, compared to 11.74% in 2022-23, as per an Indian Council for Research on International Economic Relations...

New Norms for Tax Avoidance Treaties

Context: The Central Board of Direct Taxes (CBDT) has issued new guidelines regarding the Principal Purpose Test (PPT) under Double Tax Avoidance Agreements (DTAAs). About the New Norms for Tax Avoidance Treaties Applicability of PPT: The Principal Purpose Test (PPT)...

Legal Guarantee to Minimum Support Price (MSP)

Context: Recently demand for a legal guarantee to minimum support price (MSP) was raised by the agitating farmers in Punjab. What is the Minimum Support Price? The Minimum Support Price (MSP) is the price at which the government commits to...

Official Gold Import Figures for Nov Revised Down by $5 Billion

Context: The Ministry of Commerce and Industry has revised the gold import figures for November, reducing them by $5 billion from $14.8 billion to $9.9 billion. Overview of Gold Import Data Revision Initial Data: Gold imports for November 2024 were...

Decoding India’s Growth Slowdown

Context: The first advance estimates of India’s Gross Domestic Product (GDP) for the fiscal year 2024-25, released by the National Statistics Office (NSO). What was the Finding? A decline in the real GDP growth rate to 6.4%, down from 8.2%...

India Post Payments Bank (IPPB), Revolutionizing Digital Banking in India

India Post Payments Bank (IPPB) is a unique initiative by the Government of India to promote financial inclusion through digital banking services. Established under the Department of Posts, IPPB leverages the extensive network of post offices nationwide to provide accessible,...

The Outlook for India in the Year Ahead

Context: India stands out globally due to economic growth and political stability, amidst a world witnessing profound economic and geopolitical shifts. Challenges for India in 2025 China Relations Recent Developments: Border Negotiations: Apparent disengagement at the Line of Actual Control...

Income Disparity Reduced in FY23 in India and Global Comparison

Context: A working paper by the People Research on India’s Consumer Economy (PRICE) indicates that income inequality in India decreased in 2022-23. PRICE is an Not for profit think tank based in Delhi. Key Findings of the PRICE Working Paper...