Government has announced a number of economic measures which seeks to revive economic growth through fiscal stimulus. These measures were brought in the backdrop of the economic slowdown in India.The measures announced are:- The surcharge announced in the budget on Foreign Portfolio Investors (FPIs) has been withdrawn.This will check the outflow of FPI from India.… Continue reading Centre responds to downturn with steps to boost growth
Category: Daily Factly articles
Vice President of India successfully completes visit to the three Baltic nations
Vice President has concluded his visit to the three Baltic nations namely Lithuania, Latvia and Estonia. The visit was aimed at strengthening the bilateral engagements with the three nations,besides giving the relationships a fresh impetus in the context of a changing global order. India established diplomatic relations with Baltic states in 1992 after the disintegration… Continue reading Vice President of India successfully completes visit to the three Baltic nations
Russia launches floating nuclear reactor in Arctic
Russia has successfully launched the world’s first floating nuclear reactor called Akademik Lomonosov in the Arctic region. Akademik Lomonosov is a non-self-propelled powership.The reactor will be the northernmost nuclear plant in the world. The reactor is suited for powering remote areas and island states that require stable, green sources of energy.It will also power the… Continue reading Russia launches floating nuclear reactor in Arctic
Development financial institution to fund infrastructure
Government has proposed to set up a development financial institution (DFI). DFI is expected to solve the infrastructure financing needs of the country as banks do not have the long-term funds to finance such projects.DFI’s will also help in reviving the economic growth of the country. Development financial institution(DFI) are specialized institutions set up primarily… Continue reading Development financial institution to fund infrastructure
Explained: What is Adratiklit boulahfa?
Scientists from London Natural History Museum(NHM) have described a species named Adratiklit boulahfa as a stegosaurus,a type of dinosaur. They dated the species back to 168 million years ago which makes it the oldest known member of that group of dinosaurs ever known. The species is also the first stegosaurus to be found in North… Continue reading Explained: What is Adratiklit boulahfa?
Sitharaman gives MSME sector a breather
Finance minister has announced several measures to provide some relief to Micro,Small and Medium Enterprises(MSMEs) sector. Finance Minister has announced that all pending Goods and Services tax(GST) dues for the MSME sector shall be cleared within 30 days.In the future,all such dues would be cleared within 60 days of application. Further,the banks will issue improved… Continue reading Sitharaman gives MSME sector a breather
Escape from angel tax delights start-ups
Finance minister has announced that angel tax will not be applicable on startups that are registered with the Department for Promotion of Industry and Internal Trade(DPIIT). The move is likely to give a long-demanded angel tax relief to start-ups and exempt them from scrutiny. The government has also decided to set up a dedicated cell… Continue reading Escape from angel tax delights start-ups
Terror funding watchdog FATF Asia-Pacific Group ‘blacklists’ Pakistan
Asia Pacific group(APG) has placed Pakistan on its Blacklist for its failure in meeting the required global standards and combating terrorism and money laundering. Pakistan was non-compliant in 32 of the 40 Compliance Parameters on Money Laundering & Terror Financing and was low in 10 of the 11 Effectiveness Parameters. In June 2018,Financial Action Task… Continue reading Terror funding watchdog FATF Asia-Pacific Group ‘blacklists’ Pakistan
SEBI announces reward of Rs 1 crore to insider trading informants
Securities and Exchange Board of India(SEBI) has approved a detailed set of rules for the new ‘Informant Mechanism’ under its Prohibition of Insider Trading Regulations. However,these rules would only be available to individuals and corporates.But professionals like auditors will not be able to use this route as they are duty-bound to report any wrongdoing. Insider… Continue reading SEBI announces reward of Rs 1 crore to insider trading informants
Sabka Vishwas – Legacy Dispute Resolution Scheme
In Budget 2019-20,Government had announced the Sabka Vishwas legacy Dispute Resolution Scheme,2019.The Scheme has now been notified and will be operationalized from 1st September 2019. The objective of the scheme is to free the large number of small taxpayers of their pending disputes with the tax administration. The two main components of the Scheme are… Continue reading Sabka Vishwas – Legacy Dispute Resolution Scheme
