Context In the Union Budget 2023-24, the government has set a disinvestment target of Rs. 51,000 crore which is the lowest in 7 years and 21% less than the budget estimate for the current year. Disinvestment About: Disinvestment means the sale or liquidation of assets by the government like Central public sector enterprises (CPSE) and […]
In News The Union government needs to reassign Goods and Services Tax (GST) to States to address fiscal imbalance between the Union and State governments. About Major Economic Changes in Recent Past: The divisible taxes of the Union government expanded from two to all the Union taxes, thus enlarging the revenue base to be shared […]
In News Recently, the Union Finance Ministry told the Supreme Court (SC) that demonetisation in 2016 led to a phenomenal growth in digital transactions, shrunk fake currency and saw more income tax payers. Government’s Response to SC Impact of Demonetisation: Bridging formal informal divide: The withdrawal of ?500 and ?1000 banknotes, which had at the […]
In News A recent survey has revealed that even 6 years after demonetisation, people prefer cash transactions, especially in real estate deals. Key Findings Purpose of Demonetisation: The process of demonetisation was conducted six years ago in order to curb the circulation of black money. Failed Move: The step has faltered in the long run, […]
In News The Reserve Bank of India (RBI) said that the first pilot in the Digital Rupee, Wholesale segment (e?-W) will commence on November 1, 2022. It also announced that the first pilot in the Digital Rupee – Retail segment is planned for launch within a month in select locations in closed user groups comprising […]
In News Recently, the Reserve Bank of India (RBI) removed the Central Bank of India from its Prompt Corrective Action Framework (PCAF). Key Points Background: The RBI had imposed the PCA norms on the Central Bank of India in June 2017 due to its high net NPA and negative return of assets (RoA). This is […]
In News Recently, India surpassed the UK to become the world’s fifth biggest economy. Key Highlights Leaving behind UK: India leaped past the UK in the final three months of 2021 to become the fifth-biggest economy. The calculation is based in US dollars, and India extended its lead in the first quarter, according to GDP […]
In News Coal companies carry out various programmes and activities through their Corporate Social Responsibility (CSR) funds benefit the peripheral areas around coal mines. Corporate Social Responsibility (CSR) The CSR concept in India is governed by Section 135 of the Companies Act, 2013, Schedule VII of the Act and Companies (CSR Policy) Rules, 2014. The […]
In News (LIBOR) rose for the fourth straight session, rising roughly 2.5 basis points to 2.83229%, the highest since November 2008. What Is London Interbank Offered Rate (LIBOR)? It is a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans. It serves as a […]
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