Finance Commission

The report of the Fifteenth Finance Commission, along with an Action Taken Report, was tabled in Parliament. The Commission, headed by N K Singh, had submitted its Report to the President in December 2019. The government had accepted the recommendations of the Commission “in substantial measure a/c to FM. The Finance Commission and its purpose… Continue reading

[pib] National Mission on Quantum Technologies & Applications

The Finance Minister in budget 2020 has announced a National Mission on Quantum Technologies & Applications (NM-QTA). What is Quantum Technology? Quantum Technology is based on the principles of quantum theory, which explains the nature of energy and matter on the atomic and subatomic level. It concerns the control and manipulation of quantum systems, with… Continue reading

Species in news: Flame-throated Bulbul

The flame-throated bulbul, also called the Rubigula, was chosen as the mascot of the 36th National Games to be held in Goa. It is the State bird of Goa. Flame-throated Bulbul IUCN status: Least Concern The Flame-throated Bulbul is endemic to southern peninsular India where it is locally distributed in southern Andhra Pradesh, eastern Karnataka,… Continue reading

Key Highlights of Economic Survey 2019-20

The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman presented the Economic Survey 2019-20 in the Parliament today. The Key Highlights of the Survey are as follows: Wealth Creation: The Invisible Hand Supported by the Hand of Trust [Covered in a separate newscard] Survey posits that India’s aspiration to become a $5… Continue reading

Strategy for boosting Wealth Creation

The big idea from the Economic Survey 2019-20 is the need to push towards increasing the number of wealth creators in the Indian economy. The Survey states that to achieve the goal of becoming a $5-trillion economy, the invisible hand of markets will need the support of “the hand of trust”. Wealth Creation Essentially, this… Continue reading

Dividend Distribution Tax (DDT)

Finance Minister announced abolition of DDT to be paid by companies in her budget speech. What is DDT? A dividend is a return given by a company to its shareholders out of the profits earned by the company in a particular year. Dividend constitutes income in the hands of the shareholders which ideally should… Continue reading

Public Health Emergency of International Concern (PHEIC)

The World Health Organization (WHO) has declared the novel Coronavirus infection a Public Health Emergency of International Concern (PHEIC). In the past decade, WHO has declared public health emergencies for outbreaks including swine flu, polio and Ebola. What is PHEIC? Definition: Under the International Health Regulations (IHR), a public health emergency is defined as… Continue reading

[pib] National Commission for Indian System of Medicines

The Union Cabinet has given its approval for proposal of Official Amendments in the National Commission for Indian System of Medicine Bill, 2019 (NCIM) which is pending in the Rajya Sabha. About the Commission The main objective of establishing NCIM is to promote equity by ensuring adequate supply of quality medical professionals and enforce high… Continue reading

[op-ed snap] How to protect trade in a tug of war between nations

Context Developing countries have argued for decades that the rules governing international trade are profoundly unfair. But similar complaints are now emanating from the developed countries that established most of those rules. Why are developed countries complaining now? Competition: A simple but inadequate explanation is “competition.” Turning tide: In the 1960s and 1970s, industrialized countries… Continue reading

[op-ed snap] Examining the slowdown

Context Setting aside the gloomy projections based on short-term economic trends, the long-term and comparative evidence reveal interesting trends about the health of the Indian economy. Performance of the Indian economy after 1991 Higher growth plateau reached after 1991: After the 1991 economic reforms, the Indian economy reached a higher growth plateau of 7% compared… Continue reading

Explained: Fiscal Marksmanship

Over the past few years, many have questioned the government’s fiscal marksmanship. What is fiscal marksmanship? Fiscal marksmanship essentially refers to the accuracy of the government’s forecast of fiscal parameters such as revenues, expenditures and deficits etc. In other words, if the difference between what the government projected as the likely tax revenues in the… Continue reading

Reintroduction of African Cheetahs in Indian forests

The Supreme Court lifted its seven-year stay on a proposal to introduce African cheetahs from Namibia into the Indian habitat on an experimental basis. The plan was to revive the Indian cheetah population. Asiatic cheetahs in India In 1947, Maharaja Ramanuj Pratap Singh of Deoghar of Koriya, Chhattisgarh — who was infamous for shooting… Continue reading

10 more wetlands from India get the Ramsar site tag

Ramsar has declared 10 more wetland sites from India as sites of international importance. News Ramsar Wetlands With this, the numbers of Ramsar sites in India are now 37 and the surface area covered by these sites is now 1,067,939 hectares. Maharashtra gets its first Ramsar site (Nandur Madhameshwar) , Punjab which already had 3… Continue reading

[pib] Bhuvan Panchayat V 3.0

The Bhuvan Panchayat V 3.0 web portal was recently launched. Bhuvan Panchayat Version 3.0 For better planning and monitoring of government projects, the ISRO has launched the Bhuvan Panchayat web portal’s version 3.0. For the first time, a thematic data base on a 1:1000 scale for the entire country is available with integrated high resolution… Continue reading

[op-ed snap] The stress in state finances

Context Lower tax devolution, delays in GST compensation are potential risks to the states. Trends in the finances of the state The unaudited fiscal data of 21 states: These states account for around 90 per cent of India’s GDP in 2017-18. The data reveal some trends. First Trend: Revenue receipt sliding down From 15.6 to… Continue reading

Comprehensive Bodo Settlement Agreement

The MHA, the Assam government and the Bodo groups have signed an agreement to redraw and rename the Bodoland Territorial Area District (BTAD) in Assam, currently spread over four districts of Kokrajhar, Chirang, Baksa and Udalguri. Several Bodo groups led have been demanding a separate land for the ethnic community since 1972, a movement… Continue reading

Legislative Councils and its abolition

The Andhra Pradesh Assembly recently passed a resolution to abolish the state’s Legislative Council (LC). Legislative Councils The LC or Vidhan Parishad is the upper house in those states that have a bicameral legislature; the lower house being the State Legislative Assembly. Its establishment is defined in Article 169 of the Constitution of India. Each… Continue reading

[op-ed of the day] The convergence of rich nations with the rest has gone off track

Context Sound policies are needed to put emerging economies back on a higher growth path and ameliorate regional inequalities. The theory of convergence The theory of convergence is one of the most powerful and noblest ideas in economics. What is it? It is the concept that other things being equal, poorer economies should catch up… Continue reading

Biorock technique for Coral Restoration

The Zoological Survey of India (ZSI), with help from Gujarat’s forest department, is attempting for the first time a process to restore coral reefs using biorock or mineral accretion technology. What is Biorock Technique? Biorock is the name given to the substance formed by electro accumulation of minerals dissolved in seawater on steel structures that… Continue reading

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