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Borrow abroad and profit

GS-III: Borrow abroad and profit Context The government is planning to issue 10-year bonds denominated in foreign currency. Why it is a good idea Such borrowing would be cheaper because a dollar or yen interest rates are lower than rupee interest rates. Our debt to GDP ratio is not very high, the exchange rate is stable, and foreign exchange reserves are high. So foreign borrowing, if it's long-term, is not a problem. If foreign bond issuance was accompanied by a move

Allocation are Keys

GS-III: Allocation are Keys Context The budget must focus on the priority areas for the budget allocations. It is expected to provide funds and an assurance that the allocations would be rule-based. Rural distress needs to be allocated to funds. Drinking water Improving the efficiency of existing irrigation systems Rural finance  including temporary waiver of loan repayments : Job creation It will depend on the revival of industrial production, continuing g

GST overhaul next on agenda after budget

GST overhaul next on agenda after budget Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.   Prelims and Mains focus: on the key issues to be discussed regarding the overhaul of GST; the composition scheme: eligibility and its merits   News: The Narendra Modi administration and state governments will hold fresh negotiations to overhaul the goods and services tax (GST) after the Union budget i

A fiscal stimulus in budget has to get balance right

A fiscal stimulus in the budget has to get balance right Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.   Prelims and Mains focus: about the ongoing economic slowdown what should the next year’s budget bring to contain it   News: Finance minister Nirmala Sitharaman will present the Union budget in four weeks. The expectation, including in RBI’s monetary policy committee, is tha

The govt is likely to find it hard to trim fiscal deficit

The govt is likely to find it hard to trim the fiscal deficit Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.   Prelims and Mains focus: about the problems faced by the govt. in GST collections and its impact on the fiscal deficit   News: The budgeted fiscal deficit for 2019-20 stands at Rs. 7.04 trillion. However, the fiscal deficit for the period April-November is higher than this and sta

5% growth cloud over budget

5% growth cloud over budget Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.   Prelims and Mains focus: on the recent economic slowdown in the Indian economy and the measures to be taken to overcome it in the upcoming budget   News: India’s economy is expected to grow 5% in the current fiscal, the statistics ministry said on Tuesday, signalling what would be the slowest pace of annual

The link between growth, demand and investment

The link between growth, demand and investment Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.   Prelims and Mains focus: the ongoing economic slowdown and its impact on India’s GDP; measures to be taken in the upcoming budget   News: As per the government’s first advance estimate, gross domestic product (GDP) growth for FY20 is likely to be 5%— the lowest since the global

Road to Budget 2020

Road to Budget 2020 Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.   Prelims and Mains focus: About the economic slowdown and its impact on this year’s budget; measures to be taken to address it; About PMI   Context: Finance Minister Nirmala Sitharaman will present her second budget at a time when the economy has hit rock bottom, with growth plummeting to a six-and-a-half-year low an

Infrastructure Investment Trusts (InvITs)

Infrastructure Investment Trusts (InvITs) Syllabus subtopic: Infrastructure: Energy, Ports, Roads, Airports, Railways etc. Government Budgeting   Prelims and Mains focus: about the move to boost private InviTs and its benefits   News: Union budget proposals are set to boost investments in the infrastructure space with tax exemptions for private infrastructure investment trusts (InvITs), which have emerged as an investment route of choice for large institutiona

India’s tariff policy

India’s tariff policy Syllabus subtopic: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Prelims and Mains focus: about import tariff regime in India; amended proposed to it and its implications   News: Some of the budget proposals have the potential to revive the import substitution regime of the pre-1991 liberalization era. The old regime, which sought to protect domestic industries, bred an uncompetitive man

The link between small savings and deficit

The link between small savings and deficit Prelims and Mains focus: on the exemptions in this year’s budget and its impact on savings and deficit   News: Getting rid of exemptions under a new tax regime proposed by the budget could make small savings less attractive for individuals and dry up this source of funds for the government.     How do exemptions apply to small savings? Small savings schemes are savings instruments such as the Public Prov

Fiscal deficit touches 128.5% of Budget Estimate

The fiscal deficit touches 128.5% of the Budget Estimate Syllabus subtopic: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment.   Prelims and Mains focus: on the government’s fiscal deficit target; on various terms used in the budget   News: The fiscal deficit touched 128.5 per cent of the whole-year Budget target during the April-January period.   Background The deficit in the year-ago pe

Budget during COVID-19

Budget during COVID-19 India’s GDP is estimated at ? 200 lakh crore. The first priority for spending should be health and infrastructure. India has only five beds for 10,000 Indians and ranks 155th on bed availability in the Human Development Report of 2020. Experts opine that the government should increase healthcare spending from 1.5% of the GDP to 2.5%. The National Infrastructure Pipeline https://www.aspireias.com/daily-news-analysis-current-affairs/National-Infrastruc

Law to ban Cryptocurrencies

Law to ban Cryptocurrencies India plans to introduce a law to ban private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the central bank, according to a legislative agenda listed by the government.   The law will “create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India (RBI),” the agenda, published on the lower house website on Fri

Budget 2021 and Public Transportation

Budget 2021 and Public Transportation With a clear focus on the expansion of Metro Rail and bus services through Central funding, Budget 2021 has recognised a core component of urbanisation. Comfortable, safe and affordable commuting has well-recognised multiplier effects for the economy and more generally for public health, although COVID-19 has had the perverse effect of driving people away to the safety of personal cars and two-wheeler bubbles. There is little doubt that when the

Push for entrepreneurs

Push for entrepreneurs Context In her Budget speech, Union Finance Minister Nirmala Sitharaman announced measures to ease norms on setting up one-person companies (OPCs) which would directly benefit start-ups and innovators. What is a one-person company? As the name suggests, a one-person company is a company that can be formed by just one person as a shareholder. These companies can be contrasted with private companies, which require a minimum of two members to get going.

Hitting the right notes with the health budget

Hitting the right notes with the health budget Introduction This article discusses the various allocations under the Union Budget 2021–22 towards the health sector. Context of packages Aatmanirbhar Bharat Abhiyaan packages announce several short-term and longer-term measures to strengthen the health sector. Production-Linked Incentive schemes have been announced to boost the domestic manufacture of pharmaceuticals and medical devices. Mission COVID Suraksha has al

An introduction to Budget 2021-22

An introduction to Budget 2021-22 Introduction There is greater spending on health care and some fiscal push to undergird the struggling demand in the pandemic-hit economy. The Union Budget for 2021-2022 presented to Parliament on Monday, instead reveals an estimated health outlay of ? 74,602 crore, almost 10% lower than the revised estimate of? 82,445 crore was earmarked for health spending in the current fiscal year. More focus on drinking water and sanitation The Minis

BUDGET DATA

BUDGET 2021-22 DATA Prominent Themes of Budget 2020-21 Budget 2020-21 is woven around three prominent themes: Aspirational India in which all sections of the society seek better standards of living, empowerment with access to health, education and better jobs. Economic development for all is indicated in the Prime Minister’s exhortation of “Sabka Saath, Sabka Vikas, Sabka Vishwas”. This would entail reforms across swathes of the economy. Simultaneously,

EPF tax rules- Social Security

EPF tax rules- Social Security GS-Paper-3: Economic issue and Economics Optional – UPSC PRELIMS – Mains Application Context: The new EPF tax rules will come into effect from April 1, 2021, as announced in the Union Budget of 2021. Highly important for UPSC-PRELIMS and EPFO examination. For EPFO PREPARATION: https://www.aspireias.com/upsc-epfo Free SOCIAL SECURITY Booklet: https://www.aspireias.com/uploads/upladfile/Social_security_(2).pdf Existing rule? If a person

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