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Syllabus: GS-3: Mobilization of Resources , Fiscal Policy Focus: The Income-tax Bill, 2025, introduced in the Lok Sabha, aims to replace the Income-tax Act, 1961, by removing outdated provisions, simplifying tax laws, and reducing litigation. It introduces clear tabular formats, eliminates redundant sections, and replaces the ‘Assessment Year’ with ‘Tax Year’, ensuring a more transparent …
Read MoreWhy in the news? The Union Budget highlighted infrastructure development and passenger comfort for Indian Railways, but key concerns like delayed safety initiatives, pending high-speed rail projects, and unclear timelines for Vande Bharat train expansion have raised criticism. Key Announcements: The Railways Minister emphasized infrastructure development, modernization of stations, and enhancing passenger connectivity, safety, and …
Read MoreSyllabus: GS-2: Indian Constitution , Government Policies & Interventions GS-3: Growth & Development , Planning ,Government Budgeting , Fiscal Policy , Inclusive Growth Focus: The Union Budget for FY 2025-26 announced a massive Rs 1 lakh crore tax relief for income taxpayers. The expectation is that this tax relief will boost consumption demand and push …
Read MoreWhy in the news? Delhi’s gender budget allocation for women’s education has declined significantly, dropping from 54% in 2017-18 to 27% in 2024-25, raising concerns over women’s empowerment, skill development, and economic participation. Trends in Delhi’s Gender Budget: Delhi’s overall budget increased from ₹271 billion (2011-12) to ₹760 billion (2024-25). The gender budget rose sevenfold, …
Read MoreWhy in the news? The Union Budget 2025 raised the Nil Tax Slab to ₹12 lakh, offering tax-free income up to ₹12.75 lakh for salaried individuals, along with new tax slabs to reduce the financial burden on taxpayers. Key Highlights: Finance Minister Nirmala Sitharaman presented the first full-fledged budget of the NDA government’s third term …
Read MoreWhy in the news? The upcoming Union Budget for FY2025-26 highlights newly launched schemes with significant funding and others with reduced allocations. Key sectors like AI, renewable energy, and electric mobility are expected to receive substantial financial support in the budget. Recently Launched Schemes (2024-25 Allocations): Solar Rooftop Installation Scheme: ₹6,250 crore for promoting solar …
Read MoreSyllabus: GS-3: Growth & Development , Fiscal Policy Focus: The Indian government faces an economic slowdown, with private consumption and investment stagnating despite efforts like capital expenditure. The upcoming 2025 Budget is seen as a crucial opportunity to shift fiscal priorities toward social welfare and employment generation to stimulate economic recovery. Understanding the Growth Decline: …
Read MoreRelevance: GS 3 – Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment; Inclusive growth and issues arising from it; Government Budgeting. Why in the News? Corporate investment has remained stagnant despite tax cuts, indicating that availability of resources alone does not drive growth. Last year’s budget emphasized improving coordination …
Read MoreWhy in the News? The National Statistical Office (NSO) released the first advance estimates for GDP for the financial year 2024-25 on January 7. India’s economy is projected to witness a year-on-year (YoY) slowdown in GDP growth: Growth rate for 2023-24: 2% Expected growth rate for 2024-25: 4% The YoY decline may not fully reflect …
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