Subject: Economy Context: FC chairperson N.K. Singh said that the pandemic has necessitated reconsideration of 42% devolution assigned in the 2020-21 Concept: The Finance Commission is a constitutional body set up by the President of India, every five years or earlier to decide the share of the Union government and state governments in the divisible […]
Subject: Economy Context: Banking Regulation Bill introduced in Lok Sabha. Concept: The Bill, which seeks to replace an ordinance issued by the Government in last week of June It likes to empower the Reserve Bank of India (RBI) to effectively handle the mishaps in private banks without allowing any loss of public confidence and disruption […]
Subject: Economy Context: Minister of State for Finance & Corporate Affairs in response to a question asked in the Lok Sabha said in September 2019, the Government announced several measures to promote growth, investment and create new employment opportunities through the amendments in the Income-tax Act, 1961 and Finance act 2019. Concept: Measures taken by […]
Subject: Economy Context: Government deficit is possibly the most dominating issue in the global financial markets these days. Concept: A high government deficit leaves little for the private sector for investment and puts upward pressure on interest rates—also referred as crowding out. But in an open economy, the country can always import capital to naturalize […]