Economy

Context ∙ The net Direct Tax collection is 80.61% of the total Budget Estimates of Direct Taxes for F.Y. 2023-24. What is Tax? ∙ In order to garner income for the government to finance social projects, tax is collected from individuals and corporations via direct tax and indirect tax. ∙ Direct tax is the tax […]

In Context ∙ India’s masur (lentil) production is estimated to touch an all-time high of 1.6 million tonnes in 2023-24. About ∙ The total masur acreage has increased to 1.94 million hectare in the ongoing rabi season, when compared to 1.83 million hectare in the year-ago period. ∙ Despite being the world’s largest producer and

Context ∙ Ola group’s AI firm Krutrim is India’s first artificial intelligence unicorn. ∙ Krutrim has raised $50 million at a valuation of $1 billion in a funding round. What is a Unicorn? ∙ Unicorn is a term used in the venture capital industry to describe a privately held startup company with a value of

Context ∙ According to a recent report by the State Bank of India (SBI), India has witnessed a significant fall in inequality over the last decade. Key Findings ∙ The report claims that the Gini coefficient has fallen from 0.472 in 2014-15 to 0.402 in 2022-23. ∙ The Gini coefficient falls for regular wage and

In News ∙ Union minister for road transport and highways announced over 200 Ropeway Projects Worth 1.25 Lakh Crore under Parvat Mala Program. About Parvatmala Pariyojana ∙ Union Finance Minister, while presenting Union Budget for 2022-23, announced the National Ropeways Development Programme – “Parvatmala” – which will be taken up on PPP mode. ∙ The

Context: ∙ As per the recent official press release, the toy industry became a net exporter between FY 2014-15 and FY 2022-23. ∙ Its exports increased by 239% and imports declined by 52%, turning India into a net exporter. Indian Toy Industry ∙ The Indian toy industry is among the fastest-growing globally, projected to reach

Context ∙ S.Venkitaramanan, who served as the Governor of the Reserve Bank of India (RBI) from 1990 to1992 passed away recently. About S.Venkitaramanan ∙ He was appointed as the 18th Governor of RBI by the government in 1990. ∙ He navigated the Reserve Bank of India through the crucial years of the 1990 balance of

Context ∙ S.Venkitaramanan, who served as the Governor of the Reserve Bank of India (RBI) from 1990 to1992 passed away recently. About S.Venkitaramanan ∙ He was appointed as the 18th Governor of RBI by the government in 1990. ∙ He navigated the Reserve Bank of India through the crucial years of the 1990 balance of

In News ∙ According to a study by the State Bank of India, the ongoing debate about a K-shaped recovery of the domestic economy post-pandemic seems flawed and biased. Key Findings of the SBI’s study ∙ Income inequality decreasing: The gap between different income levels, measured by the Gini coefficient of taxable income, decreased notably