Author: ForumIAS

‘NPAs, high debt level to ebb in 6-9 months’  Context Twin balance sheet problem refers to the stress on balance sheets of banks due to non-performing assets (NPAs) or bad loans on the one hand, and heavily indebted corporates on the other. “Our own assessment is that it would take another six to nine months… Continue reading ‘NPAs, high debt level to ebb in 6-9 months’

Modi’s visit could see pacts on migrants, Ayurveda centre Context CHOGM meeting & Indian PM’s bilateral visit to the U.K. Issues to be discussed at CHOGM Explore ways of raising intra-Commonwealth trade from around $525 billion in 2015 to around $700 billion by 2020 Bilateral visit A memorandum of understanding on the return of illegal… Continue reading Modi’s visit could see pacts on migrants, Ayurveda centre

What demonetisation did to tax collections Context Effect of Demonetisation Demonetisation’s effect on tax collections Net collections have increased by 17.1% in the just concluded fiscal year, to Rs. 9.95 lakh crore. In FY15 and FY16, India’s direct tax kitty witnessed growth of just 8.9% and 6.9%. But seen from a historical perspective, a 14%… Continue reading What demonetisation did to tax collections

Mandate and allocations Context Conclave of Finance Ministers of the southern States to discuss contentious issues in the Terms of Reference (ToR) of 15th Finance Commission Finance Commission (Article 280) The President shall, within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year or at such earlier… Continue reading Mandate and allocations

PMLA will need more changes Context Money laundering Author’s contention India should make money laundering a standalone offence keeping in mind the on-site mutual evaluation by the Financial Action Task Force (FATF), which is due in November-December 2020 What is the legislation that deals with money laundering in India? Prevention of Money laundering Act (PMLA)… Continue reading PMLA will need more changes

At home and in exile      Context We need to adequately plan for internal migration due to climate change  What has happened? In “Groundswell: Preparing for Internal Climate Migration”, a recent report by the World Bank, it is estimated that in Latin America, South Asia and Sub-Saharan Africa over 143 million people would be forced… Continue reading At home and in exile     

It’s time to replace the UGC Act Context Replacing the UGC Act, 1956 Reforms initiated The HRD Ministry first saw the passage of the Indian Institutes of Management Bill, 2017, which will extend greater autonomy to the IIMs It followed this up with reforms in the rules and regulations of the University Grants Commission (UGC),… Continue reading It’s time to replace the UGC Act

India needs 8.1 million jobs a year, says WB What has happened? India needs to create 8.1 million jobs a year to maintain its employment rate, according to a World Bank report which projected the country’s growth to accelerate to 7.3% in the current financial year. It also projected the growth rate to increase further… Continue reading India needs 8.1 million jobs a year, says WB

Simply Put: Why India is on US currency monitoring list Context For the first time, it meets two of three criteria: significant bilateral surplus with US; and persistent intervention in forex markets What does the report say? India met two of the three criteria for the first time in this report — having a significant bilateral… Continue reading Simply Put: Why India is on US currency monitoring list

Slippery slick What has happened? After a sharp fall at the beginning of the year, oil prices have risen dramatically in recent weeks. The price of Brent crude has risen by around $10 since it touched a short-term low of around $62 in early February, hitting its highest mark since late 2014. Reason for high… Continue reading Slippery slick