Indian Economy

Context: Income inequality remains a critical global challenge, requiring comprehensive solutions. To achieve greater equity, there is a need to shift from the traditional “economies of scope and scale” to an “economy of purpose.” Key Strategies to Combat Income Inequality Implementing Progressive Taxation: Progressive tax systems are essential for redistributing …

Unemployment is defined as the condition of being without a job despite actively seeking employment and possessing the necessary qualifications, skills, and willingness to work. Types of Unemployment Frictional Unemployment: Temporary joblessness when individuals are between jobs or changing careers. Structural Unemployment: Occurs due to a mismatch between job seekers’ …

Context A dive into the taxation system in India and its impact on the black money market. Black Money Definition: Also known as illicit wealth, black money refers to assets and income not declared to the government for taxation. Sources: Includes income from illegal activities like drug trafficking and money …

The Reserve Bank of India (RBI) has permitted resident individuals to open Foreign Currency Accounts at International Financial Services Centres (IFSCs) in GIFT City, Gujarat, under the Liberalised Remittance Scheme (LRS). Details: Authorised Persons: These are entities authorised by the RBI, such as banks and designated FX dealers, to facilitate …

Context: Indian industry bodies have expressed concerns regarding the Angel Tax, particularly its recent expansion in the Finance Bill 2023. This development comes amidst a decline in startup funding and job losses. Understanding Angel Tax: Angel Tax refers to the income tax levied on unlisted companies that issue shares to …

Relevance : Hunar se Rozgar Scheme, India Skills Report 2024 And Skill Development In India, and Higher Education & The Skill Requirements In The Job. Since 2006, the Ministry of Tourism is implementing a relatively less-known scheme called ‘Hunar se Rozgar’ meaning skill to employment, primarily aimed at catching the …

Scheme Overview: Launched: Union Budget 2022-23 (ongoing till 2025-26) Target: Border villages along the northern borders of India (Himachal Pradesh, Uttarakhand, Sikkim, Arunachal Pradesh, Ladakh) Focus: Comprehensive development of these villages to improve living standards and curb outmigration. Funding: Centrally Sponsored Scheme with a budget of ₹4,800 crores. Key Objectives: …

Introduction: The Pradhan Mantri Awas Yojana (PMAY), also known as “Housing for All” mission, is a flagship initiative launched by the Government of India in 2015. It aims to achieve the ambitious goal of “Housing for All by 2022” by providing affordable housing solutions to all eligible urban and rural …

Concept Green bonds have emerged as a financial instrument aimed at channeling investments into environmentally sustainable projects. As the world grapples with climate change and environmental degradation, green bonds offer a mechanism to finance initiatives that mitigate environmental impact and promote sustainability. Definition of Green Bonds: Green bonds are debt …

What is the Representation of People Act, 1951? The electoral framework in India is regulated by specific sections within the Indian Constitution, namely Articles 324 to 329 of Part XV. These provisions empower the Parliament to formulate legislation pertaining to both national and statelevel elections. Article 324 specifically establishes the …