SMALL SAVINGS INSTRUMENTS Subject : Economy Context : The government has sharply slashed the rates on all small savings instruments for the first quarter of 2021-22. Concept : It has brought the rate of return on the Public Provident Fund down from 7.1% to 6.4% and effecting cuts ranging from 40 basis points […]

    CRUISE SERVICE Subject : Economy Context : Minister of State for Ports, Shipping & Waterways (I/C) Shri Mansukh Mandaviya  flagged off  the Cruise service from Hazira Port of Surat to Diu today via video conferencing. Concept : For the cruise between Surat and Diu, the one side voyage time will be approximately 13 […]

    PUBLIC DISTRIBUTION SYSTEM Subject: Economy Context: Inspection finds PDS food grains being supplied in Delhi unfit to consume. Concept: The Public distribution system (PDS) is an Indian food Security System established under the Ministry of Consumer Affairs, Food, and Public Distribution. PDS evolved as a system of management of scarcity through distribution of […]

    DIGITAL TAX Subject : Economy Context :The government has decided not to levy 2% digital service tax if goods and services are sold through Indian arm of foreign e-commerce players. Concept : The amendment to Finance Bill 2021 clarifies that offshore e-commerce platforms don’t have to pay 2% equalisation levy if they have […]

    Petrol and Diesel future inclusion in GST Subject: Economy Context: Concept: In 2017 when GST was brought in five commodities – crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of it. GST sought to subsume dozen central and state levies under a single tax structure. This meant […]

    Relaxation of Valuation of AT1 bonds Subject: Economy Context: SEBI has relaxed the valuation of ATI bonds after finance ministry asked for it. Concept: Relaxation: The deemed residual maturity of Basel III AT-1 bonds will be 10 years until March 31, 2022. It will be increased to 20 years from April 1, 2022 […]

    Women harder hit by job losses due to Pandemic Subject: Economy Context: According to the recently released PLFS and CMIE data the women has been hit harder by the pandemic w.r.t participation in workforce. Concept: From 16.4% in May-August of 2016, the female labour participation rate (employed women as a proportion of all […]