“Special Corona Fee” imposed on Liquor by Delhi Government

On May 4, 2020, the third phase of lock down began in India. Under the third phase, the liquor shops were opened in selected regions with certain restrictions. Highlights With the liquor shops opening after a long gap, there were long queues at store all over the country. The Delhi Government acted swiftly on the ..

Month: Current Affairs - May, 2020

Category: India Nation & States Current Affairs

Topics: Alcohol • Alcohol Ban • Delhi Government • GST • Liquor Ban • Reserve Bank of India (RBI) • Revenue • Value-added tax

United Nations: India and China likely to stay away from Global Recessions

The United Nations Conference on Trade and Development (UNCTAD) made a new analysis under the title “The COVID-19 Shock to Developing Countries”. Highlights The analysis says that leading exporting countries are to face drop in investments between 2 trillion USD and 3 trillion USD in the next two years. The world economy is to go ..

Month: Current Affairs - March, 2020

Category: Reports & Indexes Current Affairs

Topics: Corona virus • COVID-19 • Economic Slowdown • Recession • Revenue • Tourism • UNCTAD • United Nations

GoI notifies rules for Vivad Se Vishwas Scheme

On March 19, 2020, Govenrment of India has notified rules to avail full benefit of direct tax dispute resolution under the Vivad Se Vishwas Scheme. Highlights Currently, there are more than 400,000 cases that are eligible to avail the scheme. This involves Rs 9.3 lakh crores. The scheme aims to settle disputes and aid in ..

Month: Current Affairs - March, 2020

Category: Government Schemes Current Affairs

Topics: Corona virus • COVID-19 • Finance Minister • GST • nirmala sitaraman • Revenue • union budget 2020-21 • Vivad Se Vishwas

Corona Virus: GoI halts three crucial policies as revenues shrink

As the outbreak of corona virus has hit revenue collection, the Government of India has dropped three crucial policies. Highlights The revenue collection for the fiscal year 2019-20 has contracted by 3.5% in the first 11 months. With the increasing threat of Corona Virus, it is expected that the revenue collection is to get reduced ..

Month: Current Affairs - March, 2020

Category: India Nation & States Current Affairs

Topics: Agriculture • Corona virus • COVID-19 • fiscal deficit • Food fortification • GST collection • Ministry of Food Processing • Revenue

Fiscal Deficit of GoI touched 132% of full year target

On January 31, 2020, the Controller General of Accounts (CGA) released data on fiscal deficit of Government of India. According to the report, the fiscal deficit of India touched 132.4% of the full-year target in December, 2019. Highlights The gap between revenue and expenditure is terms as fiscal deficit. According to the CGA data, the ..

Month: Current Affairs - February, 2020

Category: Economy & Banking Current Affairs

Topics: Economic Survey • economic survey 2020 • Economic Survey Report • Expenditure • fiscal deficit • GDP • Revenue