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Why in the news? The Department for Promotion of Industry and Internal Trade (DPIIT) backs the removal of angel tax. Secretary Rajesh Kumar Singh emphasised the recommendation based on startup ecosystem discussions. The Confederation of Indian Industry (CII) supports this move to boost capital formation. source:slideshare About Angel Tax: Definition: Tax on capital raised via …
Read MoreWhy in the news? ISMA calls for lifting export curbs due to high sugar stocks, which could lead to additional costs for millers. Government’s FRP hike for sugarcane increases production costs, emphasising the need for surplus sugar export to maintain financial liquidity. source: quora About Indian Sugar Mills Association (ISMA): Premier sugar organisation in India. …
Read MoreWhy in the news? India’s liquefied natural gas (LNG) imports hit a 44-month peak in June due to increased electricity demand during a severe heatwave. Gas-based power plants operated at significantly higher levels to meet the surge in electricity needs. Source: PSM Data: Gas-based power generation in June reached 4.60 billion units, a 52% increase …
Read MoreWhy in the news? High-Level Diplomatic Talks: Indian External Affairs Minister S Jaishankar met with Chinese Foreign Minister Wang Yi at the SCO Summit in Astana, Kazakhstan. Expansion and Relevance: India highlighted SCO’s strategic importance in its foreign policy, welcoming Belarus as the organization’s newest member. Source: Sputnik Shanghai Cooperation Organization (SCO) Formation and Structure …
Read MoreWhy in the news? The DPIIT Secretary announced a new model for the Producer Price Index (PPI) aimed at better reflecting input costs in the economy. Consultations with the Ministry of Statistics and Programme Implementation are underway to potentially shift from Wholesale Price Index (WPI) to PPI. Source: Toppers Key Developments The DPIIT has finalized …
Read MoreWhy in the news? The Commerce and Industry Ministry is advocating for lower import tariffs on inputs for electronics and other sectors. High tariffs are seen as negating the benefits of the Production Linked Incentive (PLI) scheme compared to competitors like China and Vietnam. About Production Linked Incentive (PLI) Scheme: Initiative: Started by the Government …
Read MoreWhy in the news? Lone female gharial discovered in Kaziranga National Park, potentially reviving species in Brahmaputra after presumed extinction. Wildlife experts eye reintroduction of gharials from Lucknow to support breeding in ideal Kaziranga conditions. source:eduhub About Kaziranga National Park: Location: Golaghat and Nagaon districts, Assam Establishment: Declared a national park in 1974 UNESCO Status: …
Read MoreRelevance: GS 2 – Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests; India and its neighborhood- relations. Why in the News? Myanmar’s conflict between the military junta and ethnic armed organizations (EAOs) has caused a major humanitarian crisis. The United Nations Security Council discussed the issue on July 3rd. Experts …
Read MoreWhy in the news? The state government has requested the central government to link e-challans with motorists’ bank accounts to recover ₹2,429 crore from 42.89 million traffic violators. Despite various drives, only 35% of the penalties levied through e-challans have been recovered in the last five years. Source: HT About the Proposal : The …
Read MoreWhy in the news? India will host the 46th UNESCO World Heritage Committee session in New Delhi from July 21-31, 2024. Event expected to attract over 2,500 delegates, likely inaugurated by Prime Minister Modi. source:scribd About World Heritage Committee: A committee of UNESCO (United Nations Educational, Scientific, and Cultural Organization). Responsible for implementing the World …
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