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Syllabus subtopic: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Prelims and Mains focus: about the govt’s fiscal deficit target; about 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 period was 121.5 per cent of the corresponding target. &
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-Infrastruct
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 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 Friday,
Budget 2021 and Public Transportation With a clear focus on 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 car and two-wheeler bubbles. There is little doubt that when the pande
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 Introduction This article discuss about the various allocations under the Union Budget 2021–22 towards the health sector. Context of packages Aatmanirbhar Bharat Abhiyaan packages announces several short-term and longer-term measures to strengthen the health sector. Production-Linked Incentive schemes have been announced to boost domestic manufacture of pharmaceuticals and medical devices. Mission COVID Suraksha has a
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 earmarked for health spending in the current fiscal year. More focus on drinking water and sanitation The Minister,
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, 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 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 c
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