RBI may mandate domestic processing of payment transactions Subject: Economy Section: Monetary Policy Context: Keeping in view the emerging geopolitical risks, options are being explored to ring fence domestic payment systems What are the present guidelines regarding processing of payment transactions? Under current regulations, even though there is no bar on processing payments […]
Widening of Tax base Subject : Economy Section: Fiscal Policy The tax base is the total amount of assets or revenue that a government can charge tax on. For example, the assessed value is the tax base for property taxes and taxable income is the tax base for income tax. It can also be […]
Strengthening NFRA: Govt examining panel proposals Subject: Economy Section: Regulatory Body Context: The Centre on Saturday said it is committed to strengthening the working of the National Financial Reporting Authority (NFRA), the independent regulatory body setup under the Corporate Affairs Ministry for the auditing professional. Concept: NFRA is an independent regulatory body set […]
India Africa trade Subject :Economy Section : External Sector Concept : The African Union is India’s fourth largest trading partner after the US, China and the UAE. India has a negative trade balance with Africa, implying a dominance of imports over exports. In 2019-20, India’s trade deficit with Africa was valued at $9.1 […]
High-speed rail network’s first train to arrive soon Subject :Economy Section :Infrastructure Context: Trial run on Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) corridor expected in late 2022 being built by National Capital Region Transport Corporation. National Capital Region Transport Corporation (NCRTC) The NCRTC is a joint venture of the Centre and the governments […]
India, SA, Indonesia want focus on e-commerce developmental aspects Subject: Economy Section: Indian economy Call for discussions on redressing inequitable gains, uneven spread. This is for consideration at the 12th Ministerial Conference in Geneva beginning on June 12. The submission by the three is also important in the light of attempts made by […]
CCI penalizes 7 companies for cartelisation in Railways tender Subject: Economy Section: Indian economy Context: The case was initiated on the basis of a lesser penalty application filed by one of the cartelising entities. Under Section 46 of the Competition Act, a cartel member may approach the Commission by way of filing an […]