Source: Indian Express Relevance – Data localization is being taken seriously in India. Aspirants must have knowledge of all aspects linked to it. Synopsis: Recently, the Reserve Bank of India has barred three foreign card payment network companies (Mastercard, American Express, and Diners Club) from taking new customers on board over the issue of storing… Continue reading Curbs on foreign card firms
Tag: Economy
Fuel price surge: What India can learn from Biden and Sunak’s tax policies
Source: Business Standard Relevance – The article highlights the options that government can use instead of increasing oil prices. Synopsis: Government should tax the rich to find alternate avenues to raise public resources. When the times change, the policy has to adapt Background Even when the second OPEC-driven oil shock sent international oil prices past… Continue reading Fuel price surge: What India can learn from Biden and Sunak’s tax policies
RBI action on Mastercard again shows why it is urgent to have an omnibus data protection law
Source: TOI Synopsis: Mastercard Asia has been ordered by RBI to refrain from taking on new customers as it failed to fulfil its obligations under the local data storage rules. Also Read: Mastercard can’t issue new cards from July 22: RBI Issues involved Impact on the payments market: India’s retail payments landscape has transitioned to contactless… Continue reading RBI action on Mastercard again shows why it is urgent to have an omnibus data protection law
Potential Economic Consequences of Pandemic
Source: Livemint Relevance: This article highlights the possible long-term economic consequences of COVID-19 for India. Introduction: A recent exercise at the National Council of Applied Economic Research shows a few possible scenarios. It reveals the permanent effects of the pandemic shock that will persist for a very long time. Possible Long-term consequences: Firstly, after the V-shaped… Continue reading Potential Economic Consequences of Pandemic
Power users may soon get to choose supplier
Source: Live Mint Relevance: Electricity amendment bill 2021 will improve energy efficiency and consumer protection. Synopsis: Electricity (Amendment) Bill, 2021 is a landmark bill to reform power distribution. The Landmark Electricity (Amendment) Bill, 2021 is expected to be introduced in the monsoon session of the parliament. Provisions of the Landmark Electricity (Amendment) Bill, 2021 Aims… Continue reading Power users may soon get to choose supplier
Subsidy scheme for shipping firms approved
Source: The Hindu and PIB Relevance: The article highlights one of the challenges with Indian shipping industry and the new government scheme to tackle it. Synopsis: Cabinet has recently approved a scheme for the promotion of merchant ships in India by providing subsidy support to Indian shipping companies in global tenders floated by Ministries and CPSEs.… Continue reading Subsidy scheme for shipping firms approved
Cairn Energy dispute and Government disputes with private entities – Explained, pointwise
Introduction Britain’s Cairn Energy Plc has secured an order from a French court authorizing the freezing of 20 Indian government properties in Paris valued at over 20 million euros. This is the first court order secured against India to enforce a $1.2-billion arbitration award that Cairn Energy had won against the Indian government in the… Continue reading Cairn Energy dispute and Government disputes with private entities – Explained, pointwise
Let’s not politicise the Central Vista project
Source: The Indian Express Relevance: Central Vista project is an important topic under Infrastructure. Synopsis: People are also questioning the purpose and benefits of the Central Vista Project. But The questions are short-sighted. About the Central Vista Redevelopment Project: The initiative to build a new Parliament building was taken by the then Lok Sabha in 2012.… Continue reading Let’s not politicise the Central Vista project
Share info with Govt, ban on ‘specific’ flash sales: Move to tighten e-commerce norms
Context: Tightening of norms for e-commerce companies News: The Ministry of Consumer Affairs, Food and Public Distribution is planning major changes to the Consumer Protection (E-Commerce) Rules, 2020. A range of amendments has been proposed. Comments sought from relevant stakeholders by July 6. Background In December 2018, the Industry Department had published changes to its foreign direct investment (FDI) policy for e-commerce. These changes were introduced to… Continue reading Share info with Govt, ban on ‘specific’ flash sales: Move to tighten e-commerce norms
Why are the Governments in India relying on liquor sales so much ?
Is it a good idea to go against WHO advisory to open liquor shops during a lockdown?
