News: Recent guidelines by the central government have asked its arms, including state-run firms to avoid appeal against every arbitration award, especially in the cases that have a low probability of success. These guidelines are released to avoid project delays. What are the implications of these project delays? Project delays and cost overruns cause a lot of harm to the exchequer. Government has to at the… Continue reading Challenge arbitration awards carefully
Category: 9 PM Daily Articles
Friend in need: On India-Sri Lanka ties
News: In the visit to Sri Lanka, External Affairs Minister assured to help Sri Lanka to overcome economic and other challenges that occurred because of the pandemic. What is the economic condition of Sri Lanka? Sri Lankan economy is in big crisis with a credit crunch, a slump in GDP, foreign reserves that reduced from $7.5… Continue reading Friend in need: On India-Sri Lanka ties
Search for tax evasion
News: The tax department has conducted a record level of searches in the current fiscal year. As reported by Business Standard last week, so far, the department has found an undisclosed income of Rs 32,000 crore. While it is encouraging that the tax department is working hard to make sure that everyone pays his or… Continue reading Search for tax evasion
Account aggregators are ready to widen Indian access to credit
News: Complementing the PMJDY, India recently unveiled the account aggregator (AA) network to overcome the challenges of access to micro-credit for individuals and micro, small and medium enterprises (MSMEs) The AA network along with Pradhan Mantri Jan Dhan Yojna (PMJDY) would help India formalize credit and boost economic growth in the post-covid era. What is… Continue reading Account aggregators are ready to widen Indian access to credit
How do SDRs help maintain balance of payments?
News: In July-September 2021, India received $31.2 billion foreign exchange reserves. Out of this, $17.86 billion was by way of Special Drawing Rights (SDR) support received from the International Monetary Fund. SDRs being one of the components of foreign exchange reserves (FER) of a country, an increase in its holdings is reflected in the BOP.… Continue reading How do SDRs help maintain balance of payments?
The Cryptocurrency deception
News: Cryptocurrencies are neither a currency, nor an asset. They are a fraud which needs extensive scrutiny by the government agencies. Why Cryptocurrencies are not a currency? For any instrument to classify as a currency, it must have the following features: – One, it is a promissory note wherein the issuer is promising the bearer… Continue reading The Cryptocurrency deception
Taxing Cryptocurrency transactions
News: As many as 10 crore Indians may already have investments exceeding a total of $10 million in Cryptocurrencies. This not only creates an avenue for generation of tax revenue, but also puts forth a huge challenge for the tax authorities who have to track and tax transactions involving cryptocurrencies. What is the current legal… Continue reading Taxing Cryptocurrency transactions
India’s green cover has advanced far too slowly
News–India State of Forest Report (ISFR) 2021 has reported very slow progress of afforestation over the past two years. India must aim for faster progress to adapt and mitigate the effects of worsening climate change. What are the details about the latest India state of forest report? Read here. Why slow progress is a cause of concern? India set… Continue reading India’s green cover has advanced far too slowly
Countering hate in the digital world
News: Recently controversial apps like “Bulli Bai” and “Sulli Deals” made news headlines in which prominent Muslim women were auctioned. While it is under police investigation, it signals increasing levels of radicalization in the digital world. Contents1 What is the significance of this issue?2 How are digital space shaping identities and impacting individual?3 Why hate… Continue reading Countering hate in the digital world
Urban governance and urban floods: Storm warnings of a megacity collapse
News: Chennai witnessed 24 cm rainfall, a very high level, on December 30, 2021. This again raises questions on urban governance and management of urban floods. What are the challenges in urban governance? Like the 2005 Mumbai floods, there was community support and mobilization for change, but changes remained on paper. Niti Aayog’s report on… Continue reading Urban governance and urban floods: Storm warnings of a megacity collapse
