The Centre’s decision to liberalise norms for entry into coal mining and relax regulations on mining and selling coal in the country is significant in many respects. What is the amendment? Amendments to two legacy Acts through the Mineral Laws (Amendment) Ordinance 2020 cleared by the Cabinet on Wednesday will free the sector from restrictions... Continued.
The Competition Commission of India (CCI) released a Report titled ‘Market Study on E-commerce in India: Key Findings and Observations’ today. The Market Study on E-commerce in India (‘the study’) was initiated by the CCI in April 2019 with a view to better understand the functioning of e-commerce in India and its implications for markets... Continued.
On Tuesday, the National Statistical Office (NSO) released the first advance estimates of the national income that projected growth in India’s GDP at market prices for 2019-20 at 4.98% in “real” terms, the lowest since the 3.89% in the global financial crisis year of 2008-09. But even more significant was the estimated growth of 7.53%... Continued.
Relevant for GS Prelims & Mains Paper III; Economics Even as the trade war between China and the United States shows no signs of ending, Washington has paralysed the World Trade Organization’s Appellate Body, which acts as a supreme court for international trade. In December 2019, the U.S. chose to spike the Appellate Body by... Continued.
Payments to go swadeshi: 50+ Crore revenue Businesses to compulsorily have Govt owned digital payment systems
In a move aimed at encouraging digital payments and helping India move towards a less-cash economy, the govt. has taken a significant step. It has decided that from February 1, companies with annual turnover of over Rs 50 crores which do not accept payments through home-grown RuPay and Unified Payments Interface (UPI) platforms will have... Continued.
Coffee Board chairman M.S. Boje Gowda said this year’s Arabica yield would fall more than 50% after the torrential rains, floods and landslides during August-September last year which destroyed coffee plants in Chikkamagaluru, Hassan, Kodagu and Wayanad districts. Five years ago, India’s Arabica production was 1.5 lakh tonnes. It fell to 80,000 tonnes last year.... Continued.
The unveiling by Finance Minister Nirmala Sitharaman of a mega push to infrastructure investment adding up to Rs. 102 lakh crore over the next five years belongs in this category. Projects in energy, roads, railways and urban infrastructure under the National Infrastructure Pipeline (NIP) have been identified by a task force. About 42% of such... Continued.
After two consecutive months of contraction in September and October, Goods and Services Tax (GST) collections in December (for November sales) rose over the Rs 1-lakh crore mark, a growth of 8.9 per cent year-over-year. In November too, the GST mop-up had topped Rs 1 lakh crore, but December figures were keenly awaited since the... Continued.
Is the economy in really bad shape? Is this a result of a cyclical phenomenon or has it been driven by a structural malaise arising from deficiencies in the economic framework?
On November 30 this year, India’s statistical machinery revealed that growth in the quarter from July to September had slipped to 4.5%. This was the lowest level recorded in six-and-a-half years, with the 6.1% nominal GDP growth (real growth plus inflation) coming in as the slowest in a decade. Compared to the previous quarter when... Continued.
Policymakers face a tricky dilemma as prices in the economy continue to rise even as economic growth has plummeted to well under 5%. Food inflation, now in double-digits, has caused significant pain. The International Monetary Fund on December 23 called for “urgent” policy measures to reverse the current slowdown. The warning is timely given the... Continued.