Subject: Economy Context: Department of Pharmaceuticals has written to domestic medical devices manufacturers to report on unfair trade practices in exporting market. Concept: An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports […]

Subject:Economy Context: Reserve Bank has decided to conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for ₹10,000 crores each on July 02, 2020 Concept: OMO Open market operations are the sale and purchase of government securities and treasury bills by RBI or the central bank of the country. The objective of OMO is to regulate the money supply in […]

Subject: Economy Context: Just one week left to pay first installment of the equalisation levy on e-Commerce companies. Concept: Equalization Levy was introduced in India in 2016-2017, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. Equalization Levy is a direct tax, which is withheld at […]

Subject: Economy Context: Ministry of finance has disallowed the automatic carry forward of unspent money by various ministries and departments over the next month or quarter. It also decided that order restricting overall quarterly expenditure of certain ministries and departments to 15-20% of their budgeted amounts in the first quarter of this fiscal, will continue […]