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What is Transition Tax Credit?

Taxpayers who had missed out on getting the benefit of transitional tax credits during India’s switchover to the Goods and Services Tax (GST) regime five years ago, will now get a fresh window to avail them. What is Transitional Tax Credit? A tax credit is a component of a company’s tax payment that can be… Continue reading What is Transition Tax Credit?

Indian Antarctic Bill, 2022

The Lok Sabha deferred the consideration and passing of the Indian Antarctic Bill, 2022 as the Opposition benches were empty due to the ongoing protests outside of Parliament. Indian Antarctic Bill, 2022 Aims and objectives: To provide for national measures to protect the Antarctic environment and associated ecosystems and to give effect to the Antarctic… Continue reading Indian Antarctic Bill, 2022

Karnataka tops India Innovation Index List

Karnataka has bagged the top rank in NITI Aayog’s India Innovation Index, 2022, which determines innovation capacities and ecosystems at the sub-national level. India Innovation Index (III) The release of the second edition of the index—the first was launched in October 2019—demonstrates the Government’s continued commitment to transforming the country into an innovation-driven economy. The… Continue reading Karnataka tops India Innovation Index List

What are Tetrapods?

In Mumbai, the unusual vibrations (like earthquakes), coinciding with high-tide times, were the result of the relocation of tetrapods as part of the ongoing Coastal Road Project (MCRP). What are tetrapods? Tetra pod in Greek means four-legged. These are four-legged concrete structures that are placed along coastlines to prevent erosion and water damage. Tetrapods were… Continue reading What are Tetrapods?

Explained: Weapons of Mass Destruction and their Delivery Systems Amendment Bill, 2022

External Affairs Minister S Jaishankar has introduced The Weapons of Mass Destruction (WMD) and their Delivery Systems (Prohibition of Unlawful Activities) Amendment Bill, 2022, which will amend the 2005 Act. What is the WMD Bill? The Bill amends the WMD and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 which prohibits the unlawful manufacture,… Continue reading Explained: Weapons of Mass Destruction and their Delivery Systems Amendment Bill, 2022

[pib] NAMASTE scheme

The Government has formulated a National Action Plan for Mechanized Sanitation Ecosystem- NAMASTE scheme for cleaning of sewers and septic tank. NAMASTE Scheme The scheme is a joint venture of Department of Drinking Water and Sanitation, Ministry of Social Justice and Empowerment and the Ministry of Housing and Urban Affairs. It aims to achieve outcomes… Continue reading [pib] NAMASTE scheme

Renouncement of Indian Citizenship

Over 1.6 lakh Indians renounced their citizenship in 2021, highest in the past five years, according to information provided by the Ministry of Home Affairs (MHA). Destination US Over 78,000 Indians acquired the US citizenship, the highest among all other countries. India does not allow dual citizenship (Pakistan does allow). As many as 362 Indians… Continue reading Renouncement of Indian Citizenship

EU’s Markets in Crypto-Assets (MiCA) Law

The Markets in Crypto-Assets (MiCA) law of European Parliament is the first comprehensive regulation for cryptos, and some expect it to become a trendsetter for crypto regulation globally. What is MiCA Legislation? The MiCA law seeks to address concerns like money-laundering, protection of consumers and investors, accountability of crypto firms, stablecoins and the environmental footprint… Continue reading EU’s Markets in Crypto-Assets (MiCA) Law

Curtailing ‘unparliamentary’ expressions could stifle voice of MPs

Context The Lok Sabha secretariat recently released a booklet of unparliamentary words that will henceforth be banned and if used, will be expunged, it created an uproar among the opposing parties. Historical Background In the early days of parliamentary functioning in England, members would challenge one another to a duel if they felt dishonoured by another… Continue reading Curtailing ‘unparliamentary’ expressions could stifle voice of MPs

Municipal finances

Context Recently, the Indian Institute for Human Settlements (IIHS) analysed data from 80 urban local bodies (ULBs) across 24 States between 2012-13 and 2016-17 to understand ULB finance and spending, and found some key trends. Health of municipal finances The 74th Constitution Amendment Act was passed in 1992 mandating the setting up and devolution of… Continue reading Municipal finances

How to increase production of coal

Context With inflation at unprecedented levels in many countries, concerns over energy security have gained centre stage. National Coal Index to factor in the increased price of imported coal This index was created to provide a benchmark for revenue-sharing contracts being executed after the auctions for commercial mining of coal. The NCI had to be introduced as… Continue reading How to increase production of coal

Key terminologies in news: Yield Inversion, Soft-Landing and Reverse Currency Wars

This article provides a quick summary of what has been happening in the global economy. These are few key terms that one is likely to hear repeatedly in the coming days and weeks: Yield Inversion Soft-landing and Reverse Currency War Here’s a quick look at what they mean and why they are significant at present.… Continue reading Key terminologies in news: Yield Inversion, Soft-Landing and Reverse Currency Wars

GST Slab Changes

Customers will have to pay a 5% Goods and Services Tax (GST) on pre-packed, labelled food items such as atta, paneer and curd, besides hospital rooms with rents above ₹5,000. What is GST? GST launched in India on 1 July 2017 is a comprehensive indirect tax for the entire country. It is charged at the… Continue reading GST Slab Changes

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