What’s in the news? According to the official data, the net direct tax collection grew almost 68% during the April 1-November 23 period to more than ₹6.92 lakh crore. The Net Direct Tax Collection figures for the FY- 2021-22 as …
About the Scheme Zero Defect and Zero Effect (ZED) is a certification scheme. The MSMEs are assessed for their process in achieving Zero defects in their products and processes. Similarly the process which they adopt for production should not affect …
Background Last year, the 15th Finance Commission (Chair: Mr. N. K. Singh) submitted recommendations for the 2021-26 period and the report was tabled in Parliament on February 1, 2021. Key recommendations in the report for 2021-26 include: Share of states …
What’s in the news? A Reserve Bank of India (RBI) Working Group (WG) on digital lending, including lending through online platforms and mobile apps, has recommended a separate legislation to oversee such lending as well as a nodal agency to …
EAC-PM Economic Advisory Council to the Prime Minister (EAC-PM) is a non-constitutional, non-permanent and independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister. The Terms of Reference of …
What is the Banking Ombudsman Scheme? The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. It is introduced under Section 35 A of the Banking …
About WPI Wholesale Price Index measures and tracks the changes in the price of goods in the stages before the retail level. It provides estimates of inflation at the wholesale transaction level for the economy as a whole. WPI basket …
About CPI It is an index which measures the weighted average of prices of a basket of consumer goods and services such as transportation, food and medical care. It is calculated by measuring price changes for each item in the …
About IIP The Index of Industrial Production (IIP) details the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. It is compiled and published every month by the National Statistical Office (NSO) under the Ministry …
About the scheme The Production Linked Incentive (PLI) aims to give companies incentives on incremental sales from products manufactured in domestic units. Apart from inviting foreign companies to set shop in India, the scheme also aims to encourage local companies …