Why the tax Cuts are a One-Way Gamble Sub : Eco Sec: Fiscal Policy Context: Union Budget & recent Tax Cuts The latest Union Budget has introduced significant income tax cuts, largely benefiting the middle class (2-3% of the population). Key changes: Tax-free income limit raised from ₹7 lakh to ₹12 lakh. Exemption […]
Key Takeaways from the Economic Survey 2024-25 Sub : Eco Sec : National Economy /Income Why in News? Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024-25 in Parliament. It provides an overview of the Indian economy’s performance in FY24 and projections for FY25. Prepared by the Department of Economic Affairs under the […]
Revised Tariff Structure to Improve India’s Global Trade Image Sub : Eco Sec : External sector Why in News? The Union Budget 2024-25, announced on February 1, 2025, has introduced a revised tariff structure aimed at rationalizing import duties and correcting India’s global trade optics. Context: The Indian government has reduced peak customs […]
Trump slaps 25% tariff on imports from Canada, Mexico; additional 10% duty for Chinese goods Sub: Eco Sec: External sector Context: U.S. President Donald Trump announced new tariffs on key trading partners Canada, Mexico, and China. The rationale behind the move was to address what Trump described as a “major threat” posed by […]
Odisha Tops NITI Aayog’s First Fiscal Health Index Sub : Eco Sec : Fiscal Policy Why in News The NITI Aayog has released its inaugural Fiscal Health Index (FHI) Report 2025, which assesses the fiscal health of Indian states for the year 2022-23. The report is significant for understanding states’ fiscal stability, debt […]
Is poverty being underestimated in India? Sub : Eco Sec: Unemployment and inflation Context:- Last month, the government released a factsheet on the 2023-24 Household Consumption Expenditure Survey (HCES), which recorded a decline in poverty in urban and rural areas. Over the last few years, policymakers and academics have debated the issues of […]
Tea Industry Concerns Rise Amidst Surge in Kenyan Imports Sub: Eco Sec: External sector Why in News? India, the second-largest tea producer globally, has seen a massive 288% increase in tea imports from Kenya in 2024. This surge has raised alarms among domestic producers already struggling with oversupply and stagnant prices. Context […]
Digital Economy to Constitute a Fifth of Indian GDP by 2030 – ICRIER Report Sub: Eco Sec: National Income Why in News? The Indian Council for Research on International Economic Relations (ICRIER) has released a report, in collaboration with the Ministry of Electronics and Information Technology, projecting that India’s digital economy will contribute […]
U.S. Implements Tiered Export Rules for AI Chips Sub : Eco Sec: External sector Why in News? The U.S. Bureau of Industry and Security (BIS) has introduced a tiered framework for the export, re-export, and transfer of advanced AI chips and technology to strengthen national security and curb misuse by adversaries. Context The […]
India Issues Guidelines on Principal Purpose Test (PPT) for Tax Treaties Sub : Eco Sec: Fiscal Policy Why in News? The Central Board of Direct Taxes (CBDT) has issued new guidelines on the applicability of the Principal Purpose Test (PPT) under Double Tax Avoidance Agreements (DTAAs). The circular clarifies treaty benefits, particularly in […]