Debt levels of many States precarious: Crisil Subject: Economy Context: According to a report by Crisil most States have precarious debt levels, which will constrain their ability for higher spending on capital expenditure. Debt for eight States (Tamil Nadu, Andhra Pradesh, West Bengal, Rajasthan, Madhya Pradesh, Uttar Pradesh, Uttarakhand, and Bihar) has surpassed […]
Section 109 of the GST Act Subject: Economy Context: The Supreme Court on Monday said the government had no option but to constitute the Goods and Services Tax (GST) Appellate Tribunal Concept: Section 109 of the GST Act mandates the constitution of the Tribunal The Government shall, on the recommendations of the Council, […]
Composition Scheme Subject: Economy Context: The Goods and Services Tax (GST) Council is likely to consider a ministerial group’s report on introducing a differentiated regime for sectors where tax evasion is very high, such as brick kilns, sand mining, and gutkha and pan masala production, even as experts have urged caution about such […]
Mexico Oil spills Subject: Environment Context: Divers searching for the origin of a substantial oil spill in the Gulf of Mexico one of several spotted off Louisiana’s coast after Hurricane Ida have discovered three damaged pipelines near the leak. Concept: What is an Oil Spill? An oil spill refers to any uncontrolled release […]
Climate change and adverse health impacts Subject: Environment Context: In a first-of-its-kind effort, editors of more than 220 leading health journals from all over the world have published a joint editorial asking governments to take immediate and more ambitious climate action to hold global temperatures from rising beyond 1.5°C from pre-industrial times. Concept: Climate change has […]
Fall of Panjshir Subject: IR Context: The fall of Panjshir, the last remaining holdout controlled by the Northern Alliance forces, means curtains for the armed opposition to the new rulers of Afghanistan for now. Concept: The Panjshir Valley literally Valley of the Five Lions is a valley in north-central Afghanistan. It is divided by the Panjshir River. The […]
Budget making exercise set kick off Subject: Polity Context: Preparation for the Budget by the Finance Ministry is set in motion with issuance of the Budget circular. The Budget Division of Economic Affairs Department issues this circular between the third and fourth week of September or by the first week of October. The […]
Daily Practice Sheet 7 September 2021 On this Day September 7 is celebrated as ‘International Day of Clean Air for Blue skies’ to make communities and various stakeholders aware of sustainable action. Daily Prelims Topic Budget making exercise set kick off Fall of Panjshir Climate change and adverse health impacts Mexico Oil spills […]