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Why in the news? Net direct tax collections exceed 2023-24 target, driven by personal income tax surge; corporate tax contribution declines. About the Growth in Tax Kitty: India’s net direct tax collections rose by 17.7% in 2023-24, reaching ₹19.58 lakh crore. This surpassed both the Budget estimates and revised estimates by 7.4% and ₹73,000 crore …
Read MoreSyllabus: GS 2: India and its Neighborhood- Relations. Effect of Policies and Politics of Developed and Developing Countries on India’s interests, Indian Diaspora. Why in the News? Following the Israeli airstrike on its consulate in Damascus, Iran swiftly promised retaliation, escalating tensions in the region. Iran deployed a combination of attack drones, cruise missiles, and …
Read MoreWhy in the news? FY24 witnesses 15.3% dip in new private investments; States lead capital expenditure rise, Maharashtra tops new project acquisition. Source:slideshare About the Investment Trends in FY24: New private sector investment plans declined by 15.3% in 2023-24, while foreign investors reduced new outlays by nearly a third, resulting in a 5% drop in …
Read MoreWhy in the news? Iran-Israel conflict escalation raises concerns over oil prices, supply disruptions; India’s heavy import dependence amplifies economic impact. source:scribd About the Geopolitical Impact on Oil Trade: Escalation in Iran-Israel conflict may elevate crude oil prices due to increased risk premiums and concerns over supply disruptions in West Asia. India, as the world’s …
Read MoreWhy in the news? Industrial output surged 5.7% in February, led by growth in mining and electricity, with uneven consumption patterns. source:scribd About Recovery in Output: India’s industrial output growth reached a four-month high of 5.7% in February, up from January’s 4.1%, driven by an 8% increase in mining and a 7.5% surge in electricity …
Read MoreWhy in the news? Vijay Kelkar calls for urgent GST reform, advocating a single 12% rate and equitable revenue sharing with local governments. source:slideserve About the Proposal for Single GST Rate: Advocates adoption of a single GST rate of 12%, shared equally among all tiers of government, to streamline tax structure. Highlights success of countries …
Read MoreSyllabus: GS-3- Indian economy , RBI and the functioning of RBI Focus : The RBI’s Monetary Policy Committee (MPC) has chosen to maintain the benchmark policy repo rate at 6.5%. This decision marks the seventh consecutive meeting where the rate remains unchanged. Source- RBI RBI’s Monetary Policy Decision: The above decision was supported by food …
Read MoreWhy in the news? Services PMI survey signals the strongest growth in activity since 2010, indicating a robust expansion in the service sector. source:magzter Highlights of the Surge in Services: HSBC’s March survey indicates that sales and business activity in the services sector experienced the quickest expansion in over 13 and a half years. The …
Read MoreSyllabus: GS 3 : Government budgeting Focus: India’s CAD has seen a notable decline, dropping from 2% of the GDP in Q3 2022-23 to a mere 1.2% in Q4 2023-24. Source: IE Significance: CAD serves as a pivotal indicator, reflecting a country’s external economic balance. A higher CAD often triggers concerns about potential rupee depreciation. …
Read MoreWhy in the news? China and India’s economic comparison, highlighting the significance of per capita GDP growth for individual prosperity and national development. source:IE About the Per Capita GDP Focus: China’s sustained growth led to its per capita GDP crossing $10,000 by 2019, showcasing the importance of individual prosperity. India’s growth, though steady, has been …
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