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Budget on Green Growth

In News Recently the Ministry of Finance listed priorities for Green Growth in the Budget submission for 2022-2023. Key Takeaways: The Union ministry has listed a series of seven initiatives from green hydrogen to mangroves protection to green credit to replacement of polluting vehicles. These principles complement each other and act as the ‘Saptarishi’ guiding […]

Angel Tax & Start-Ups in India

In News Recently, The Finance Bill, 2023, unveiled by the Finance Minister has proposed to amend the Section of the Income Tax Act which might affect Start-Ups funding in India. More about the News About: The Finance Bill, 2023 has proposed to amend Section 56(2) VII B of the Income Tax Act. These new age […]

Reverse-flipping

Context Economic Survey 2022-23 states that Indian start-up companies are looking at ‘reverse flipping’. What is Reverse-flipping Flipping is the process of transferring entire ownership of an Indian company to an overseas entity. It is generally accompanied by a transfer of all intellectual property and data owned by an Indian company. Reverse Flipping is the […]

Amrit Bharat Station Scheme

In Context Recently, 15 railway stations under the Ambala Railway Division were selected to be developed under the Amrit Bharat Station Scheme. The Union Ministry of Railways launched Amrit Bharat Station Scheme in December 2022 to modernize over 1,000 small stations over the coming years. Amrit Bharat Station Scheme About: The scheme envisages the development […]

Key Highlights: Budget 2023-24

In News Recently, the Union Finance Minister presented the Budget in Parliament. Seven priorities of the budget or ‘Saptarishi’ are:  Inclusive development,  Reaching the last mile,  Infrastructure and investment,  Unleashing the potential,  Green growth,  Youth power and  Financial sector. Budget highlights Agriculture: Atmanirbhar Clean Plant Program  The program to be launched to boost availability of […]

Lab-Grown Diamonds

In News Finance Minister Nirmala Sitharaman announced in the budget 2023-24, the government’s proposal to focus on lab-grown diamonds by reducing the Customs duty on the seeds used in lab-grown diamond manufacturing. FM also announced a grant to IITs to facilitate the growth of Lab-Grown Diamonds in India. This will encourage the indigenous production of […]

Revamping MSMEs

In News The Union budget 2023 presents an opportunity for our visionary government to amp up its efforts towards making our MSMEs competitive and self-reliant. MSME Sector In India  About: Micro, Small and Medium Enterprises (MSME), are small-sized business enterprises defined in terms of their investment. Significance of the sector: Contribution to GDP: In India, […]

IMF’s latest World Economic Outlook update

In News The International Monetary Fund (IMF) released the January update of its World Economic Outlook. About World Economic Outlook It presents analyses of global economic developments during the near and medium term.  Chapters give an overview as well as a more detailed analysis of the world economy; consider issues affecting industrial countries, developing countries, […]

Theory of Alienation

In News The idea of ‘alienation’ by Karl Marx is one of the most widely discussed concepts in social, political and economic theory. Meaning of Alienation  About: Alienation refers to a person’s “withdrawal or separation from an object or position of former attachment” or, in the case of property, “a conveyance of property to another.”  […]

Economic Survey 2022-23: Key Highlights

In News Recently, the Union Minister for Finance tabled the Economic Survey 2022-23 highlighting the outlook for India’s growth, inflation and unemployment in the coming years. About The Economic Survey of India suggests that the economy has recovered from the Covid disruption and is poised for sustained robust growth in the rest of the decade. […]