Record GST collection Subject: Economy Context: Gross Goods and Services Tax (GST) collections rose to Rs 1,51,718 crore for October, the second highest level since the roll-out of the indirect tax regime in July 2017. Details: Monthly GST revenues have been above the Rs 1.4 lakh crore mark for the last eight months […]
Shared water resources can be used as weapon by any nation: Murmu Subject : Economy Context- Emphasising the significance of limited freshwater supply for a growing global population and rising industrialisation, President DroupadiMurmu said that a vast quantity of this available freshwater is spread across international borders, and this “water resource” can be […]
FAR bonds Subject: Economy Context: Foreign investors have sold Indian government debt worth nearly $500 million in the past two sessions, with the so-called FAR bonds bearing the brunt of a selloff. Details: Causes: Market participants linked the sudden move to the Fed’s policy decision due on Wednesday. Disappointment that Indian government bonds […]
Income tax returns Subject: Economy Context: The Central Board of Direct Taxes (CBDT), under the Finance Ministry, released a draft common ITR form Details: Currently, there are seven types of ITR forms which are filed by different categories of taxpayers. According to the proposal, all taxpayers, barring trusts and non-profit organisations, can use […]
Quantitative Easing Subject: Economy Context: The Bank of England conducted its first auction to sell government bonds from its quantitative easing stockpile. Details: It has been reducing its holdings of British government bonds, known as gilts, bought under quantitative easing QE in addition to not reinvesting the proceeds of maturing bonds.. The Federal […]
Day 1 of CBDC Subject: Economy Context: Government securities worth ₹275 crore were traded using the central bank digital currency (CBDC), on the first day of a pilot project in the wholesale segment according to the data published by the Clearing Corp. of India (CCIL) . Details: RBI opened a new platform called […]
Credit Rating Agencies Subject: Economy Context: Capital markets regulator Sebi gave fresh guidelines to standardise the usage of rating scales used by Credit Rating Agencies (CRAs). Guidelines: The regulator has specified standard descriptors for rating watch and rating outlook. ‘Rating outlook’ indicates CRA’s view on the expected direction of the rating movement in […]