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ΰ€°ΰ₯ΰ€₯ΰ€΅ΰ₯ΰ€―ΰ€΅ΰ€Έΰ₯ΰ€₯ΰ€Ύ Bhartiya Arthvyavastha | Indian Economy (Hindi Edition Book) 2024 - 2025 | By Vivek Singh | UPSC Civil Services Exam CSE | General Studies GS Paper 3 | Includes Budget 2024-25 & Economic Survey 2023-24
11/12/2024, 10:19:28 AM
Bhartiya Arthvyavastha | Indian Economy (Hindi Edition Book) 2024 - 2025 | By Vivek Singh | UPSC Civil Services Exam CSE | General Studies GS Paper 3 | Includes Budget 2024-25 & Economic Survey 2023-24 on Flipkart
11/12/2024, 10:18:45 AM
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10/29/2024, 3:56:43 PM
Source: The Hindu
MUDRA is mostly refinance scheme where Govt. provides funds to Banks/NBFCs and then they provide loans to Informal businesses without any collateral. But Govt. has set up a fund 'Credit Guarantee Fund for Micro Units' (CGFMU) which provides credit guarantee on these loans. Of course it will have a cost to Govt. but Govt. does this so that cost of credit remains cheap and accessible for the micro units.
There are three category of loans:
Shishu: < Rs. 50,000
Kishore: Rs. 50,000 < Rs. 5 lacs
Tarun: Rs. 5 lacs < Rs. 10 lacs
Now this Tarun category limit has been increased only for those who have already borrowed and repaid
10/26/2024, 3:51:28 AM
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5/29/2024, 2:37:01 PM
Source: Indian Express
Income Tax Department (Ministry of Finance) has notified 'Cost Inflation Index (CII)' for calculating long term capital gain tax arising from sale of immovable properties, securities (shares/bonds) and jewellery).
For example. If i purchased a house worth Rs. 1 crore in present year and sold it in Rs. 1.1 crore next year and the CII is 10% then I don't need to pay any capital gain tax as the increase in the price of my house is just equivalent to inflation. If there is any additional gain over inflation (CII) then only I need to pay any capital gain tax.
5/26/2024, 3:01:09 AM
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5/23/2024, 9:53:02 AM
Source: The Hindu
Every year RBI earns income from seigniorage (currency printing) and other sources and out of this income some part it keeps with itself (contingency risk buffer) and some part it transfers (dividend) to Govt. of India. This is called 'Economic Capital Framework'.
Bimal Jalan Committee has recommended to keep contingency risk buffer in the range of 5.5% to 6.5% of the balance sheet (i.e. assets or liabilities).
Higher income of RBI may be because of higher currency circulation in the system due to higher economic growth and higher amount of transactions.
5/23/2024, 5:11:11 AM
Indian Govt. securities joining Global Bond Index
β’JP Morgan and Bloomberg will include (in June 2024) Govt. of India bonds/securities in their βGlobal Bond Indexβ. This will enable Govt. of India to access foreign debt capital easily.
β’A βbond indexβ includes bonds of different entities like different corporations and Governments.
β’An investor can invest either in the bonds of a single institution/company/government or they can invest in a "Bond Index (fund)" where the money will be put in bonds of various institutions/Governments proportionately as per the weights of the different bonds in the "Bond Index".
β’If a foreign investor wants to purchase Govt. of India bonds, then they need approval of SEBI. But if foreign investors are investing through bond index (fund) then every foreign investor does not require SEBI approval, rather, only the (JP Morgan) bond index (fund) will require SEBI approval as a foreign portfolio investor (FPI). [So basically whenever a foreign investor invests in JP Morgan bond index fund then this fund will purchase Govt. rupee denominated bonds]
β’This could lead to billions of dollars worth of inflows into Indiaβs rupee-denominated government debt. (Earlier there was a discussion that its foreign currency denominated.... but actually it will be rupee denominated. In the book also its written foreign currency denominated but it will be Rupee denominated)
β’Everything else remaining same, an incremental source of demand from foreign investors will bring down the government cost of borrowing and will free up the liquidity for domestic financers to deploy in more productive assets. This will also result in increase in liquidity in Indian Govt. securities.
β’But it could also expose the country to a greater degree of exchange rate risk and potentially lead to volatility in the rupee if external conditions were to turn adverse.
5/16/2024, 3:20:47 AM
The above is just a draft guideline by RBI.
RBI has increased the provisioning required for Project finance (loans for which there is no additional collateral and the lenders expect to receive the principal and interest payment only from the specific project revenues to which the lender has provided loan).
Because of increase in provisioning requirement, Lenders will have to keep an additional amount for any future losses due to loans given for project finance (which are risky). So, due to provisioning, the account books of banks will change.... students don't need to go in detail as it requires an understanding of accounting concepts, but let me just put it in simple words.
Suppose a bank did provisioning of Rs. 100 crore amount then this amount will be subtracted from the income statement (as loss) and the same will be adjusted in the balance sheet of the bank due to which 'Common Equity Tier 1 capital' will get reduced which will result in reduction in 'Capital Adequacy Ratio (CAR)' [which is includes Tier 1 capital on numerator] and it also increases banks cost (of lending) as this much amount can't be lent.
5/7/2024, 8:36:29 AM
Relevant points of above article:
1. All GST anti-profiteering complaints are now dealt by the Competition Commission of India (CCI) from December 1, 2022. Prior, the National Anti-profiteering Authority (NAA) was set up in November, 2017 to check unfair profiteering activities by registered suppliers. And now the GST Appellate Tribunal (GSTAT) has also been operationalized.
2. Monthly GST Collections in April 2024 has crossed Rs. 2 lakh crore out of which SGST completely goes to States, IGST.... half goes to states and half to Centre and, out of CGST..... 41% goes to Stattes (as per Finance Commission)
3. Revenue Neutral (Tax) Rate in the context of implementing GST is basically that rate of GST at which the GST tax revenue will be equal to the tax revenue before implementing GST. This was suggested to be 15.3 per cent at the time of implementation of GST. But this Revenue Neutral Tax Rate has come down to 11.6 per cent that means now after implementing GST even at 11.6% of effective GST rate the tax revenue collection will be equal to what was the revenue collection at 15.3% at the time of implementation of GST. This is really good.
4. Tax Buoyancy has improved from 0.72 (before GST) to 1.22 right now. Even if we remove the compensation cess, GST Tax Revenue Buoyancy will be around 1.15. (Above 1 is considered as good).
5. Gross GST to Tax ratio has touched almost 7%. Overall Tax/GDP ratio of India is around 16%
6. GST is best example of Cooperative federalism as almost all the decisions happen through consensus.
5/7/2024, 6:03:35 AM
Indian Economy Book by Vivek Singh new (8th) edition will be released in July 2024 just after the new Budget and Reforms are announced.
The 8th edition will also be brought in few other languages... will confirm soon.
4/30/2024, 3:07:48 AM
The answer to the above question is (b).
Monetary policy transmission means when RBI is changing the repo rate (or some other operations like OMO) then how it gets transmitted in deposit and lending rates in financial markets.
When RBI changes repo rate then MSF rate automatically changes by the difference of 0.25%, so that is not called transmission.
4/29/2024, 3:22:25 AM
Question of the Day
Which of the following indicators is/are used to observe the monetary transmission mechanism in the economy?
1. Weighted average lending rate
2. Weighted average domestic term deposit rate
3. 1-year median MCLR
4. MSF rate
4/27/2024, 4:30:43 AM
In India, the present status of the above taxes is:
1. Estate Duty (Inheritance tax or death tax) abolished in 1985.
It was a tax levied on the total value of money and property of a deceased person before it is distributed to their legal heirs.
2. Wealth tax abolished in 2015
A tax levied on the net wealth owned by a person
3. Gift tax abolished in 1998
(But is was reintroduced in other form. Gifts from unrelated persons is included in 'income from other sources' and is taxed as per income tax slab. Gifts from blood relations are exempted)
4/25/2024, 4:59:01 AM
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4/23/2024, 8:59:00 AM
Tax Collection in FY 2023-24
(major Central taxes on a net basis)
Personal Income Tax = Rs. 10.44 lakh crore
Corporate Income Tax = Rs. 9.11 lakh crore
GST Collection = Rs. 9.01 lakh crore
4/22/2024, 3:12:49 AM