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Budget 2026 Growth Strategy Syllabus GS 3: Indian Economy Why in the News? Recently, discussions around Budget 2026–27 gained prominence as India navigated global trade headwinds, sustained reform momentum, and explored fiscal strategies to strengthen domestic growth engines, competitiveness, and long-term economic resilience. The budget also aims to address environmental concerns through improved environmental clearance …
Read MorePM Modi Launches GST Bachat Utsav Tax Reforms Why in News ? Prime Minister Narendra Modi launched the GST Bachat Utsav, introducing major tax cuts on automobiles and essential goods. The Next-Gen GST reforms aim to reduce citizens’ tax burden, increase affordability, and make India’s tax system simpler, transparent, and people-friendly. These reforms align with …
Read MoreGST Reforms: 99% Goods Shifted to 5% Bracket, Boosting Digital Economy Why in the News? Union Finance Minister Nirmala Sitharaman announced that under the latest GST reforms, 99% of goods in the 12% tax bracket have now moved to the 5% bracket, reducing consumer costs and simplifying the tax system while boosting government revenue. This …
Read More₹95,000 CRORE SURPLUS LIKELY IN GST COMPENSATION FUND BY 2026 GST Council to Review Compensation Fund Surplus Surplus estimate: The GST Compensation Fund may have a ₹95,000 crore surplus by March 31, 2026. Liabilities cleared: This projection comes after clearing all state dues and debt liabilities incurred during the compensation period. Council review: The GST …
Read MoreSYLLABUS: GS 2: Functions and responsibilities of the Union and the States, issues and challenges pertaining to the federal structure, devolution of powers and finances up to local levels and challenges therein. Focus: The GST Council must not lose sight of broader reforms. The Goods and Services Tax (GST) Council was convened last week for …
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