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Strategic Petroleum Reserves

In News  Recently, India has started selling crude oil from its strategic reserves to state refiners with a view to soften the blow from surging global crude prices. About   Strategic petroleum reserves are essentially huge stockpiles of crude oil to keep the wheels of the country running in crunch situations. The petroleum reserves are strategic […]

Privatisation of Air India

In News Recently, the government announced its decision to sell all its stake in Air India (AI) as well as AI’s stake in two other businesses — Air India Express Ltd (AIXL) and Air India SATS Airport Services Pvt Ltd (AISATS). History of Air India (AI) Established:  AI was started by the Tata Group in […]

Bharatmala Pariyojana

In News  Recently, the Shiromani Akali Dal demanded at least a 100% hike in compensation to the farmers for the land being acquired under the “Bharat Mala” project for different highways in the State. It is said that Punjab farmers have been put at a loss of over ?25,000 crores by the State government’s “devious […]

Government e-Marketplace (GeM)

In Context  Government e-Marketplace (GeM) was announced as the winner in the “Best Use of Digital Technology” category at the CIPS Excellence in Procurement Awards 2021 (CIPS Awards).  CIPS Awards  They are one of the leading recognitions around procurement globally, which is conducted under the aegis of The Chartered Institute of Procurement & Supply (CIPS), […]

45th GST Council Meeting

In News Recently, the GST Council’s 45th meeting was held in Lucknow under the chairmanship of the Union Finance Minister. Key Decisions Drugs:  Life-saving drugs Zolgensma and Viltepso used in treatment of Spinal-Muscular Atrophy are exempted from GST when imported for personal use. Extension of existing concessional GST rates on certain COVID-19 treatment drugs upto […]

Strategic Disinvestment

In News Recently, the Government allowed disinvested PSUs to set off previous losses. About the recent developments In order to facilitate the strategic disinvestment, it has been decided that Section 79 of the Income-tax Act, 1961, shall not apply to an erstwhile public sector company that has become so as a result of strategic disinvestment. […]

National Monetisation Pipeline

In News  Recently, the Union Minister for Finance & Corporate Affairs announced the launch of the National Monetisation Pipeline.  The National Monetisation Pipeline book will also be released. The book has been prepared by Crisil Infrastructure Advisory, an arm of Crisil Objectives and Need The global pandemic led to the economic crisis in the country […]

National Mission on Edible Oils – Oil Palm

In News  Recently, the Union Cabinet has given its approval to launch a new Mission on Oil palm to be known as the National Mission on Edible Oils – Oil Palm (NMEO-OP). Objectives and need  Oil Palm is comparatively a new crop in India and is the highest vegetable oil yielding perennial crop. With quality […]

Amendments to the Limited Liability Partnership Act, 2008

In News Recently, the Cabinet has cleared amendments to the Limited Liability Partnership (LLP) Act of 2008, to whittle down several provisions. Proposed Amendments Decriminalising Offences: Of the 24 penal provisions in the Act, one would be omitted and a total of 12 cognisable offences were being decriminalised under the Limited Liability Act, 2008 which […]

Cairn Energy Dispute

In News In a recent setback to India, Britain’s Cairn Energy Plc has secured a French court order to seize around 20 government properties in Paris to recover a part of the USD 1.72 billion due from India following an arbitration panel overturning levy of retrospective taxes. About the Issue The French court, Tribunal Judiciaire […]