Trips Waiver Subject: Economy Section: IPR Context: India risks being left out of TRIPS waiver New Draft TRIPS Waiver plan Draft waiver includes only COVID-19 vaccines and not other COVID-19 medical products Draft waiver proposes to waive only patents and not other IP rights. Draft waiver is not universal. Only those developing countries […]

    Tax evasion vs tax avoidance Subject: Economy Section: Fiscal Policy Context: Tax evasion by companies Concept: Tax liability of an individual can be reduced by tax avoidance, tax planning and tax evasion. Whereas, tax planning and tax avoidance are legal means, tax evasion are completely illegal means. The objective of Tax avoidance is […]

    Inflation targeting Subject: Economy Section: Monetary Policy Context: The world economy is currently passing through a growth-inflation configuration. The downside risks to growth have been accentuated globally for multiple reasons — low investments, high input costs, productivity slowdown, Ukraine crisis and related supply chain disruption, higher inflation due to ultra loose monetary policy […]