Introduction In a surprising move, the Indian government recently announced the demonetization of the INR 2,000 currency notes under the Reserve Bank of India’s (RBI) Clean Note Policy, although they will still be considered legal tender even after September 30. Immediate instructions have been given to banks to cease issuing…

Background Once upon a time, in the heartland of America, a great nation faced a unique challenge that would test its financial resilience and political will. This challenge was known as the US debt ceiling. The nation’s economy, like a well-choreographed dance, relied on a delicate balance of spending and…

Introduction India is poised to become a major investment destination for global businesses as the country’s economy continues to recover from the Covid-19 pandemic. Despite facing significant challenges during the pandemic, including a sharp economic contraction in 2020, India is now seeing strong growth in various sectors, including manufacturing, services,…

Introduction The Indian aviation industry has been experiencing significant growth in recent years. It is one of the fastest-growing aviation markets in the world, with a high demand for both domestic and international air travel. The industry is supported by a growing economy, rising income levels, and a large population…

Background The financial markets have been rocked by the collapse of five banks across the United States and Europe during the last few weeks. Although not all banks have failed, their near-simultaneous troubles have led to regulators across the globe hurrying to take measures to prevent further crises, due to…

The Reserve Bank of India (RBI) regularly conducts meetings and announces changes in policy rates such as repo rate, reverse repo rate, etc. The RBI also releases broad commentary explaining the state of the Indian economy and the reasons behind its decision. The changes in policy rates are awaited keenly…

Context In 2020, Finance Minister Nirmala Sitharaman made an ambitious announcement in the annual budget speech – to reduce the logistics cost from 14% of GDP to less than 10% of GDP by 2022. Even the developed nations do not have such higher logistics costs. India’s logistics sector consists of…

Context “Where golden birds fly every morning, that India is my country” – the latest leap taken by India has awakened the feeling of patriotism amongst the citizens once again. The Union Ministry of Mines has announced that 5.9 million tonnes of lithium reserves have been found in Salal –…

Following are the key changes relating to Goods and services tax – Decriminalisation of certain offences The government has been focussing on ease of doing business for a long time and decriminalisation of offences under business laws is an important part of it. The minimum threshold to launch a prosecution…

Following are the key changes relating to income tax assessments– Changes related to assessments In Budget 2022, the time limit for summary or scrutiny assessment under section 143 or best judgement assessment under section 144 was reduced to 21 months from the end of the financial year. Earlier, this time…