Current Affair Category: Indian Economy

General Financial Rules (GFR) India has reformed its General Financial Rules (GFR) in June 2025 to boost research and development (R&D) procurement. The changes aim to remove barriers created by rigid procurement processes like the Government e-Marketplace (GeM), which often delayed innovation and compromised research quality. Key Points: General Financial Rules (GFR) Issue with Previous […]

What is Pink Tax ? The issue of Pink Tax is in the news as it highlights the gender-based price discrimination where products and services targeted at women cost more than similar products for men. Though not an actual tax, it silently impacts household budgets and reflects economic inequality.  Key Points: What is Pink Tax? […]

India’s Retail Inflation Retail inflation in India rose to 2.1% in August 2025, breaking a nine-month declining streak, according to official data released by the Ministry of Statistics and Programme Implementation (MoSPI). This was higher than July 2025’s figure of 1.55%, but still near the lower bound of the RBI’s comfort band of 2%-6%. The […]

Impact of USA Tariff on State Bhadohi Carpet: The handmade carpet industry in Bhadohi, Uttar Pradesh, is facing a severe crisis after the United States imposed a 50% tariff on India’s handmade carpet exports. This has led to massive order cancellations, factory shutdowns, wage losses, and a looming threat to the centuries-old craft that provides […]

Crypto Regulation Bill The cryptocurrency sector has been in focus due to recent global regulatory developments, including India’s ongoing discussions on creating a comprehensive framework for crypto assets, and concerns over illicit transactions and investor protection. Key Points: Crypto Regulation Bill Global Push for Regulation: The G20 and Financial Action Task Force (FATF) are urging […]

What are ESG standards UKIIFB celebrated its first year with the release of a report in London. In September 2024, India and the U.K. jointly initiated the program, which is supposed to stimulate investment activity in the Indian infrastructure sector that requires a total of $2 trillion by 2030. In retrospect to the previous project-specific […]

The inverted duty structure (IDS) The inverted duty structure (IDS) under GST has been a long-standing issue for several industries like textiles, bicycles, tractors, and fertilizers. Recently, the GST Council reduced rates on certain inputs to address the inversion problem, bringing some relief. However, gaps still remain, particularly for sectors where input tax rates are […]

On September 3, 2025, the GST Council approved major reforms to the Goods and Services Tax system, representing a pivotal moment in India’s taxation framework.These reforms are expected to improve the overall economic mood and stimulate growth, especially when other engines of growth such as exports and private investments are faltering. Key Highlights of GST […]

Why in the News?  The Goods and Services Tax (GST) Council, in its 56th meeting, announced a major overhaul of the GST tax structure, introducing a simplified two-rate system with a special higher rate for sin and luxury goods. This reform aims to make the GST regime simpler, reduce the burden on common people, boost […]

Why in the News? Singapore’s Prime Minister, Lawrence Wong, has begun a three-day trip to India with the objective of strengthening economic ties between the two nations. This is Wong’s first visit to India as Prime Minister, where he is accompanied by senior cabinet ministers. The visit aims to expand two-way economic engagement and sign […]