economy

New GST Reforms in India: Need for GST 2.0, Tax Slabs, Reclassification of Items

Context: The Justice Kurian Joseph Committee on Union-State Relations released a landmark report advocating for GST 2.0. The report warns that the current GST framework has eroded the fiscal autonomy of States and needs a second generation of reforms to...

Non-Deliverable Derivatives (NDDs): Meaning, Types and Market Impact

Context The RBI has barred banks from non-deliverable derivative (NDD) contracts in the rupee, a segment often linked to speculative trading by large currency players. This move signals a push for greater control and transparency in the forex market, aiming...

FCRA Amendment Bill 2026: Key Provisions, Concerns and Criticism

Context: The Union government has deferred discussion on the FCRA Amendment Bill, 2026, which aims to tighten regulation of foreign funding under the 2010 Act to protect national interest and security, but has sparked political controversy over concerns of its impact...

16th Finance Commission on Disaster Funding: Strengthening India’s Fiscal Resilience

Context: Despite being India's most disaster-vulnerable state, Odisha has faced the largest reduction in disaster funding share due to a flawed allocation metric adopted by the 16th Finance Commission. 16th Finance Commission on Disaster Funding The 16th Finance Commission (FC)...

RBI Extends Export Realisation Timeline: Key Details and Impact

Context: The RBI has extended the export realisation timeline and credit period to support exporters amid global disruptions and West Asia tensions. Export Realisation and Export Credit in India Export realisation refers to the process by which Indian exporters receive...

Removal of the Chief Election Commissioner in India: Constitutional Provisions

Context: The Opposition’s impeachment move against the Chief Election Commissioner of the Election Commission of India is largely symbolic, reflecting deep mistrust. Though unlikely to succeed, it signals rising tensions, where a Constitutional authority is increasingly viewed as a political...

FATF Report on India’s Action on Virtual Asset Service Providers (VASPs)

Context: A FATF report on “Understanding and Mitigating the Risks of Offshore Virtual Asset Service Providers (oVASPs)” highlighted India’s l measures to curb money laundering and terror financing. About Offshore Virtual Asset Service Providers (oVASPs) These are digital asset entities...

RBI Payments Vision 2028: Objectives, Features and Digital Payments Growth

Context The Reserve Bank of India (RBI) has released its ‘Payments Vision 2028’ document, titled Shaping India’s Payment Frontier. This strategic roadmap succeeds the 4Es (Everyone, Everywhere, Every time) vision of 2025, shifting the focus toward deepening consumer trust. About...

Periodic Labour Force Survey (PLFS) Annual Report 2025: Key Findings

Context: The Ministry of Statistics and Programme Implementation (MoSPI) released the Periodic Labour Force Survey (PLFS) Annual Report for 2025. Periodic Labour Force Survey (PLFS) Annual Report 2025 The Periodic Labour Force Survey (PLFS) is a large-scale survey carried out...

Excise Duty on Petrol: Impact on Petrol Prices in India | Latest Updates

In a major policy move amid rising global crude oil prices, the Government of India has slashed excise duty on petrol by ₹10 per litre (March 2026). While this has raised expectations of cheaper fuel, the real impact on petrol...