E-invoicing and GSTN Subject: Economy Section :Fiscal Policy Context: Businesses with an annual turnover of more than ₹10 crore will soon be required to issue e-invoice. Concept: The GST Council, in its 37th meeting on September 20, 2019, recommended the introduction of an electronic invoice in GST in a phased manner. E-invoicing started […]
High yielding currency and Currency carry trade Subject: Economy Section : External Sector Context: Goldman Sachs Group has warned high-yielding currencies such as the Indian rupee and Indonesian rupiah may reel amid deteriorating external finances and as the Fed tightening spurs risk-off sentiment. Concept: High yielding currency-High-yielding currencies are those country’s currencies where […]
How do weak currencies exacerbate imported inflation? Subject: Economy Section: External Sector Context: The surge in the dollar has set Asian currencies on course for their worst quarter since 1997, creating a dilemma for central bankers- this would add to the pressure of the monetary policy tightening as weak currencies exacerbate imported inflation. […]
US complaints WTO over non GMO Subject : Economy Section: External Sector Why in the news? The US has complained at the WTO that, despite several requests from trade partners, India has provided “neither scientific justification nor a risk assessment’’ supporting its mandatory requirement for non-GMO (genetically modified origin) and GM-free status certificates […]
What does the unchanged small savings rates mean? Subject : Economy Section: Monetary Policy Why in the news? The government said that it had decided to keep interest rates on small savings instruments unchanged for the July-September quarter. Details: Schemes like Public Provident Fund (PPF) and the National Savings Certificate (NSC) will continue […]
Special additional excise duty or SAED or windfall tax Subject: Economy Section: Fiscal Policy Context: In a series of measures to regulate the import and export of items such as crude oil and gold the government has imposed special additional excise duty/ cesses on exports of these items. What? A special additional excise […]