Author: ForumIAS

Entering the age of GST Context: GST is expected to meet country’s economic growth for a long run but along with it there’s a challenge to untangle the initial shortcomings. Pros and Cons The objective of including real estate within a reasonable time period is appreciated because besides expanding the tax base, this will help… Continue reading Entering the age of GST

At stroke of midnight, India gets a ‘good and simple tax’ Context: India’s biggest tax reform since Independence, rolled out on 1st July, 2017. The new good and simple GST (Good and Service Tax) ushers in a ray of hope for the economic pillars of the country. Significance: To serve the purpose of national integration,… Continue reading At stroke of midnight, India gets a ‘good and simple tax’

RBI says bank funding can’t be substituted Context Banks are increasingly retrenching credits whereas mutual funds, non-banking finance companies (NBFCs) are continuously offsetting the retrenchment effect. Does this implies that role and relevance of Bank funding in on decrease? What is the Issue? Retrenchment of credit by public sector banks is partly offset by NBFC’s,… Continue reading RBI says bank funding can’t be substituted

TRAI pitches for lower GST Context The Telecom Regulatory Authority of India has pitched for a reduction in the GST rate for telecom services. Details TRAI has asked the Department of Telecom (DoT) to approach the Finance Ministry with two issues: Reduction in GST rate to 5%cent from the current 18% Treating telecom as core… Continue reading TRAI pitches for lower GST

How will the Centre ensure States’ finances are not hurt? Context Right from its initiation, it was perceived that implementation of the Goods and Services Tax will not go in favor of States in terms of finance Reaching at a consensus with regard to the compensation the Centre would have to pay States for any… Continue reading How will the Centre ensure States’ finances are not hurt?

Prelims Related News By Jupiter! NASA’s new revelation: Context NASA’s Earth-bound Gemini North telescope has beamed back a stunning image of Jupiter showing haze particles over a range of altitudes. What has happened? As the Juno spacecraft orbits Jupiter, the Gemini telescope is providing high-resolution images to help guide its exploration of the giant planet.… Continue reading Prelims Related News

Aerosols ‘shrinking’ India’s monsoon: Context: Researchers have come to the conclusion that aerosols may be weakening the Indian monsoon even more than greenhouse gases. Details: A team led by climatologist R. Krishnan of the Indian Institute of Tropical Meteorology, Pune, has come up to the conclusion that aerosols affect the strength of the Indian monsoon. The… Continue reading Aerosols ‘shrinking’ India’s monsoon:

In a new regime: Context Sections of the Opposition are critical of the GST and have boycotted the Joint Session of Parliament that formally began the GST regime Efficient Implementation of GST will require coming together of all stakeholders Government’s Assurance The government has assured that procedural lapses in the first two months of the new… Continue reading In a new regime: