The Debate Over GST on Health Insurance Sub: Eco Sec: Fiscal Policy Context: Opposition leaders are demanding the withdrawal of GST on life and health insurance premiums. The rise in insurance premiums, combined with the 18% GST, has made insurance less affordable for many people. Current GST on Insurance Premiums: GST Rate: Fixed […]

    Bangladesh Crisis: Potential Shift in Garment Orders to India Sub: Eco Sec: Fiscal Policy Impact on Indian Textile and Apparel Sector: The ongoing crisis in Bangladesh is expected to impact the Indian textile and apparel sector in the short term. Statistics: India exported $1.7 billion worth of cotton, cotton yarn, and fabrics to […]

    India’s Sovereign Credit Rating and Fiscal Deficit Sub: Eco Sec: Fiscal Policy S&P Global Ratings Outlook Current Rating Outlook: S&P Global raised India’s rating outlook to ‘positive‘ earlier this year. This decision was based on policy stability, economic reforms, and infrastructure investments promising sustained growth. Criteria for Rating Upgrade: A key criterion for […]

    Aftershocks of Carry Trade Could Still Have Reverberations Sub: Eco Sec: External Sector Continued Unwinding Risks: Investors noted that the aftershocks of a massive carry trade impacting global financial markets were not yet over. Further unwinding in the coming days could increase the risk of shakeouts in other assets. Triggering Factors: The sell-offs […]

    Customs duty hike imposed for lab chemicals Subject: Eco Sec: Fiscal Policy Context: The Finance Ministry has withdrawn a customs duty hike on imported laboratory chemicals, which was proposed post the Budget, after scientists raised a furore. Laboratory Chemicals: Laboratory chemicals include imported chemicals, reagents, and enzymes that are crucial for scientific research across various fields. […]

    SC Asks Banks to Identify MSME Stress Before Accounts Turn to NPA Sub: Eco Sec : Monetary policy Supreme Court’s Mandate: The Supreme Court has mandated that banks and creditors must identify incipient stress in the accounts of Micro, Small, and Medium Enterprises (MSMEs) before these accounts turn into non-performing assets (NPAs). Judgment […]