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General Anti-Avoidance Rule (GAAR)

In News  Recently, the revenue department has launched investigations under the General Anti-avoidance Rule (GAAR)  into companies and entities that may have used creative methods to avoid paying taxes. About  A Hyderabad-based company, Ekge Retail, has received a notice in which the department has applied Section 96(1)(d) of the Income-tax Act, which deals with impermissible […]

Depreciation of Rupee

In News The Indian Rupee has depreciated 3.5 percent against the US dollar in 2022. In this past month alone, the Rupee has depreciated by over 1.2%.  The depreciation is expected to impact the economy in general and various segments such as imports, mainly fuel prices, and push up inflation. Reason for Rupee Falling Russia-Ukraine […]

Goods and Services Tax (GST)

In News Recently, the Supreme Court said that Centre and states have equal power to make laws on GST. About    Article 246A: The court emphasised that Article 246A (which gives the States power to make laws with respect to GST) of the Constitution treat the Union and the States as equal units. Article 279A: […]

Barb Fish

In News  A team of scientists at the Kerala University of Fisheries and Ocean Studies (Kufos) has standardised the techniques for artificial breeding of Olive barbs (Kuruva Paral) and Filament barb (Kalakkodiyan) About  They have developed brood stocks for Highfin barb (Kooral) and Carnatic carp (Pachilavetti).  These freshwater species of barbs and carp used to […]

Drought in Numbers 2022: UN report

In News United Nations Convention to Combat Desertification (UNCCD) recently presented the Drought in Numbers, 2022 report at the ongoing 15th Conference of Parties (CoP15) which highlighted India’s vulnerability to droughts. The report assessment analysed droughts and their impacts on life and livelihood over 122 years covering 196 countries. Highlights of the Report Indian scenario: […]

20% Ethanol Blending in Petrol by 2025

 In News The Union Cabinet through an amendment in National Policy on Biofuels, 2018 has advanced the date by which fuel companies have to increase the percentage of ethanol in petrol to 20%, from 2030 to 2025. Earlier the target was to achieve 10 percent blending in petrol by 2022 and 10 percent in diesel […]

India’s First 5G Testbed

In News  Recently, the Prime Minister of India inaugurated the country’s first 5G testbed that will enable start-ups and industry players to test their products locally, thereby reducing dependence on facilities abroad. About  The 5G testbed had been set up at a cost of about ?220 crore. It is  an important step towards self-reliance in […]

State of Inequality in India Report

In News Recently, the Institute for Competitiveness released a report titled “The State of Inequality in India”. Major suggestions by the report Universal basic income (UBI) scheme: It has suggested that the Government should launch a guaranteed employment programme for the urban unemployed and roll out a universal basic income (UBI) scheme to reduce income […]

Surat (Guided Missile Destroyer) & Udaygiri (Stealth Frigate)

In News  The Ministry of Defence launched two frontline warships of the Indian Navy – ‘Surat’ and ‘Udaygiri’ – at Mazagon Docks Limited (MDL).  About  ‘Surat’ is the fourth Guided Missile Destroyer of P15B class, while ‘Udaygiri’ is the second Stealth Frigate of P17A class.  Both warships have been designed in-house by the Directorate of […]

Repo Rate

In News Recently, analysts expect the RBI to hike repo rates against the backdrop of high retail inflation. About Repo rate Meaning The repo rate is one of several direct and indirect instruments that are used by the RBI for implementing monetary policy. Specifically, the RBI defines the repo rate as the fixed interest rate […]

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