Author: ForumIAS

GI tag for Thanjavur Netti and Arumbavur Wood carving

News:Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Thanjavur Netti and Arumbavur Wood carving from Tamil Nadu. Facts: Thanjavur Netti: Thanjavur Netti Works (Thanjavur Pith Work) is made from Netti (pith) from a marshy plant called as Aeschynomene Aspera.  This is a traditional art form and has been transferred from one generation… Continue reading GI tag for Thanjavur Netti and Arumbavur Wood carving

Major States lost ₹97,100 crore in own revenue in April: India Ratings

News:According to India Ratings and Research, due to lockdown 21 major States will suffer a collective revenue loss of about ₹ 97,100 crore for the month of April alone. Facts: States Sources of Income:The States revenue mainly comes from following heads:  State Goods and Services Tax(SGST): It is a destination based tax on consumption of… Continue reading Major States lost ₹97,100 crore in own revenue in April: India Ratings

Economic Package to make India self reliant: Atma Nirbhar Bharat Abhiyan

News:Union Finance Minister has announced the first tranche of the Atma Nirbhar Bharat Abhiyan to deal with the COVID-19 pandemic. Facts: Key Features of the Package: Real Estate:The deadline for completion of projects has been extended by up to six months treating the coronavirus outbreak as an event of ‘force majeure’ under the realty law… Continue reading Economic Package to make India self reliant: Atma Nirbhar Bharat Abhiyan

EPFO contributions reduced; gains in take home, employee cost

News:The Finance minister has provided relaxation to all private sector companies by reducing the statutory PF contribution of both employer and employee from 12% to 10% for the next three months. Facts: Employees’ Provident Fund(EPF) Scheme: Employees Provident Fund (EPF): It is a retirement benefit scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act,… Continue reading EPFO contributions reduced; gains in take home, employee cost

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