economy

What is Angel Tax? Key Features and Abolition of Angel Tax

Finance Minister Nirmala Sitharman scrapped the angel tax in a bid to strengthen the startup ecosystem and to support innovation in the country. Know all about Angel tax in this article. What is Angel Tax? The angel tax, formally known...

Union Budget 2024 Interim, Highlights, Budget Key Features

Union Budget 2024 Today, Union Finance Minister Nirmala Sitharaman is poised to present the Interim Budget for the The Interim Budget for 2024-25 was presented by Finance Minister Ms. Nirmala Sitharaman on February 1, 2024. This budget will fund the...

Gig Economy in India, Regulation for Gig Workers

Context: The Karnataka government plans to introduce a bill aimed at improving the welfare of gig workers. What is the Gig Economy? The gig economy refers to a free market system in which temporary positions are commonly characterised by the...

Micro, Small and Medium Enterprises (MSME)

Context: The Economic Survey highlighted areas for MSME growth. Micro, Small and Medium Enterprises (MSME) Regulatory Framework: MSMEs are regulated under the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006. Governing Body: The Ministry of MSME manages MSMEs in...

Focus on Female Employment to Counter Unemployment

Context: The India Employment Report (IER) 2024 highlights a complex employment scenario with rising unemployment rates. It was published by the Institute for Human Development and the International Labour Organization. India Employment Report (IER) 2024: Key Findings Unemployment Rate: Increased...

SEBI’s Proposed New Asset Class for High Risk Takers

Context: Securities and Exchange Board of India (SEBI) proposed to introduce a new asset class or product category to bridge the gap between mutual funds (MFs) and portfolio management services (PMS). What is New Asset Class? Objective: This new category...

Trade Of India: India’s total exports estimated to grow at 5.40% in June 2024

Context: The Ministry of Commerce released quick trade estimates. Insights of Trade Of India 2023-24 Exports: Total Exports: Total merchandise and services exports reached a record high of $200.3 billion in the Q1 of 2024-25. Merchandise Export: Rising by 2.55%...

Financial Devolution of Taxes Among States

Context: Southern Indian states have raised concerns about the unequal distribution of funds under the current financial devolution system. Recently, Tamil Nadu's Chief Minister, M.K. Stalin, highlighted concerns about the Union government withholding funds for state projects. Divisible Pool of...

Financial Inclusion Index for FY-2024 released by RBI

Context: RBI released the Financial Inclusion Index for the FY-2024. Financial Inclusion Index 2024 The financial inclusion index for FY 2024 stands at 64.2 up from 60.1 in March 2023. According to RBI improvement in the FI-Index is mainly contributed...

Minimum Support Price (MSP), Key Issues and Demands of Farmers

Context: The Union cabinet approved giving rise to MSP of 14 Kharif crops. Farmers demand a radical shift in government budgets to address their crises. What is Minimum Support Price (MSP)? The Minimum Support Price (MSP) is the price at...