economy

Index of Industrial Production 2024, Formula, Calculation, Importance

Index of Industrial Production 2024 India's industrial output growth slowed to 4.9% in March 2024, down from February's 5.6%. Mining Output Decline: Mining output growth decelerated to 1.2%, marking a 19-month low. Manufacturing Surge: Manufacturing, constituting 77.6% of the Index...

Non Market Economy, Criteria, Implications and Impact

Context: Vietnam wants the United States to change its designation as a "non-market economy" to a "market economy." This change would help Vietnam reduce the high tariffs placed on its goods imported into the US. Overview of Non Market Economy...

India’s Agri Trade, Import Trends and Policy Effects

Context: India's agricultural exports dropped by 8.2%, totalling $48.82 billion, down from a record $53.15 billion in 2022-23 and $50.24 billion the previous fiscal year. More In News This decline follows a previous downturn where exports fell from $43.25 billion...

Inheritance Tax in India, Key Aspects, History, Challenges

Recently, the discourse surrounding wealth redistribution and income inequality has gained significant debate in India. Among the various proposed measures, implementing an inheritance tax has emerged as a subject of considerable debate. In this article, we will discuss the concept...

Anti Dumping Duty, Goals, Legality and Examples

Context: The Directorate General of Trade Remedies (DGTR) recommended the imposition of anti-dumping duty on sodium cyanide (NaCN) imported from China, the European Union, Japan and Korea. Over the past three financial years, the Finance Ministry has imposed anti-dumping duties...

Household Savings, Concerns About Rising Household Debt

Context: India has seen a sharp decline in household net financial savings, raising concerns about economic growth and stability. This decrease coincides with a rise in household debt burden. What is Household Savings? Household savings is the money that households add...

Why has India allowed FIIs to Invest in its Sovereign Green Bonds (SGrBs)?

Context: The Reserve Bank of India (RBI) has approved  Foreign Institutional Investors (FIIS) to invest in the Sovereign Green Bonds (SGrBs). India's commitment to achieving net-zero emissions by 2070, as announced by Prime Minister Narendra Modi at COP26, necessitates significant...

India Mauritius Double Taxation Avoidance Agreement (DTAA)

Context India has signed a protocol amending the Double Taxation Avoidance Agreement (DTAA) with Mauritius to plug treaty abuse for tax evasion or avoidance. The India-Mauritius Tax Treaty Amendment includes the introduction of the Principal Purpose Test (PPT) in Article...

Food Inflation in India, Current Situation, International Prices

Context Food price inflation in India remains high (8.7% in February 2024) compared to overall inflation (5.1%). This poses a challenge for the RBI's Monetary Policy Committee (MPC) to cut interest rates. Food Inflation Food inflation refers to the rise...

Central Board of Direct Taxes (CBDT), Functions, Structure

The Election Commission has directed the CBDT to verify any mismatch in the information provided in the affidavit filed by Union Minister and BJP candidate Rajeev Chandrasekhar as he contests from Thiruvananthapuram. CBDT Released key Direct Tax Statistics through Time-Series...