Economy

India has huge livestock population, in terms of trade it stands insignificant in the world trade of livestock products. However, it is to be noted that India has tremendous potential to produce and export various livestock products. The high potential of the domestic market coupled with marketing opportunities abroad due to the GATT provisions now … Read more

The Generalized System of Preferences (GSP) is a U.S. trade program designed to promote economic growth in the developing world by providing preferential duty-free entry for up to 4,800 products from 129 designated beneficiary countries and territories. GSP was instituted on January 1, 1976, by the Trade Act of 1974. Under the GSP program, certain products can enter the … Read more

The interest rate fluctuation impacts foreign investment in India. The developing countries like India tend to have a higher interest rate than those developed countries. The foreign investment institutes such as FIIs (Foreign Institutional Investors) borrow money from their domestic market at a low-interest rate and invest it in countries like India where the interest … Read more

The 1991 is a hallmark year as it launched Indian into a new era of economic freedom. It majorly changed our economy from controlled to a free economy. One of the ingredient was tax reforms. The major changes one can observed in the tax system are as follows: Widening of tax bases both by addition … Read more

Project Saksham: The project is for creation of a New Indirect Tax Network (System Integration) of the Central Board of Excise and Customs.  The project will help in Implementation of Goods and Services Tax (GST),  Extension of the Indian Customs Single Window Interface for Facilitating Trade (SWIFT) and  Other taxpayer-friendly initiatives under Digital India and … Read more

India’s growth period has not been able to create job opportunities and hence sometimes it is termed as jobless growth.  According to a report of CII, 12 million are entering into work force annually. This figure reaches to 18-19 million if we count the people leaving the already saturated agriculture sector. But catch lies in … Read more

India has been facing serious issues as far as economy is concerned. The growth rate plummeted   to 4.5%. Unemployment rate is highest in 45 years and at the same time food inflation is also on higher side. So we are going towards stagflation. The major reasons for economic slow down are as follows: Twin balance … Read more

The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding borrowing. Current account deficit is when country’s export of goods, services and transfers are lesser than its imports of goods, services and transfers.   Impacts of Fiscal deficit: If unchecked it will lead to crowding out effect, manipulation of … Read more

Galvanizing Organic Bio-Agro Resources Dhan (GOBAR-DHAN) scheme was first announced in Budget 2018. The scheme would focus on managing and converting cattle dung and solid waste in farms to compost, biogas and bio-CNG. It wiill help in keeping the village clean while increasing the income of farmers and cattle herders.  Under it, villagers will be … Read more