Why is China limiting exports of raw materials? Subject : Economy Section: External sector Context: The Chinese Ministry of Commerce announced that it would implement export controls on items related to gallium and germanium. Details: It is seen as the country’s retaliatory move in the ‘chip war’. It said that the controls were […]
Government brings GSTN under PMLA Subject :Economy Section: Fiscal Policy Concept : Aiming to plug tax evasion through fake billing, Centre has brought the GST Network (GSTN) under the purview of Prevention of Money Laundering Act (PMLA). This will give more power to the Enforcement Directorate (ED), the anti-money laundering agency, to act […]
Government to share PM Gati Shakti data Subject : Economy Concept : The government is working out a mechanism to share data with industry and potential investors about multi-modal connectivity as well as other physical and social infrastructure captured on the PM Gati Shakti platform. Details The Network Planning Group (NPG) under PM […]
Time to step up credit to small farmers, micro enterprises: FM to PSBs Subject :Economy Section: Monetary Policy Context: Underlining that public sector bank balance-sheets are in good shape, Finance Minister Nirmala Sitharaman on Thursday advised PSB chief executives to step up credit to small and marginal farmers and micro enterprises besides taking […]
Bank locker agreements: RBI’s conditions, customer complaints Subject : Economy Section: Monetary Policy Concept : The Reserve Bank of India’s (RBI) stipulation that bank locker owners should renew their locker agreements on a stamp paper within a set of new deadlines has sent locker owners scrambling to comply, as banks have started asking […]
GloBE rules Pillar II to come in action soon Subject : Economy Section: Fiscal Policy Background: Organisation for Economic Co-operation and Development (OECD)’s Base Erosion and Profit Shifting (BEPS) emerged in 2015 in an effort to set rules for taxing international business income especially in the digitalised and globalised business environment. OECD’s BEPS […]
GST Council to discuss demand of CGST and IGST refund in 11 hill states Subject : Economy Section: Fiscal Policy In News: GST Council is likely to discuss a demand of industrial units located in 11 Himalayan and North-Eastern states for reimbursement of full Central GST and 50% of net Integrated GST (IGST) […]