Centre gives states 2 options: easier terms for lower borrowing

GST RevenuesApprox Read Time: 5 min GST Revenues In News: The union ministry of finance has shared the details of the two borrowing options presented to states under which they can borrow money to cover the shortfall in GST (Goods and Services Tax) revenues expected in the current fiscal year.Both options will be available to the states only for the current fiscal year. In April 2021, the Council will review and decide action…

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Economic Bytes: Factory output positive in November

Factory output positive in NovemberApprox Read Time: 5 minutes In News: The data of Index of Industrial Production (IIP) has been released by the National Statistical Office (NSO). As per the data, the country’s industrial production growth turned positive in November after three consecutive months of contraction. News Summary: IIP data for November 2019 Overall data: Official data showed the index of industrial production (IIP) grew 1.8% in November. This…

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Governance Bytes: National e-Assessment Centre

Govt. unveils faceless I-T assessment, opens National e-Assessment CentreApprox Read Time: 2 minutes In News: Department of Revenue, Ministry of Finance has launched the faceless assessment system in the Income Tax department and has inaugurated the National e-Assessment Centre. The nodal National e-Assessment Centre (NeAC) will be located in Delhi and headed by the Principal Chief Commissioner of Income Tax. News Summary: Need for NeAC: The e-assessment process is aimed…

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Economic Concerns: Affects of Bank Mergers

Published on 11-Sept-2019 – Affects of Bank Mergers How will mergers affect public banks? (Affects of Bank Mergers) Approx Read Time: 4 minutes In News (Affects of Bank Mergers): FM Mrs. Sitharaman recently announced that 10 banks owned by the Government of India will be merged into four larger banks, thus the total number of state-owned banks in the country will have come down from 27 (in 2017) to 12.…

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Economy Bytes: (FinTech)

Published on 03-Sept-2019 - FinTech FinTech ReportApprox Read Time: 5 minutes In News: The Steering Committee on FinTech related issues constituted by the Ministry of Finance, Department of Economic Affairs, on 2nd September, submitted its Final Report to Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman in her office in New Delhi. The Committee was constituted in pursuance to the announcement made by the Union Minister of Finance and…

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