The Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament on 1/2/2023, which projects a baseline GDP growth of 6.5 per cent in real terms in FY24. The projection is broadly...
Indian Economy
Reserve Bank defines CBDC as the legal tender issued by a central bank in a digital form. It is the same as a sovereign currency and is exchangeable one-to-one at par (1:1) with the fiat currency9. While money in...
The gross GST revenue collected in the month of October 2022 is ₹ 1,51,718 crore of which CGST is ₹ 26,039 crore, SGST is ₹ 33,396 crore, IGST is ₹ 81,778 crore (including ₹ 37,297 crore collected on import of goods) and Cess is ₹ 10,505...
In terms of Regulation 7(1) of Foreign Exchange Management (Deposit) Regulations, 2016, AD banks in India have been permitted to open Rupee Vostro Accounts. Accordingly, for settlement of trade transactions with any country, AD bank in India may open...
Practice Direction to be followed by Courts dealing with cases u/s 138 of NI Act 1881(22.04.2022)
2 min read
The Magistrates of first-class/Metropolitan Magistrates having jurisdiction are directed to try the offences under the Negotiable Instruments Act, 1881, under summary procedure as enumerated under Section 143 of the said Act. They are further directed to record reasons for...
. Two MoUs on implementation of India-UK Global Innovation Partnership and on the Global Centre for Nuclear Energy Partnership (GCNEP) were exchanged during the visit. Through the Global Innovation Partnership, India and UK have agreed to co-finance up to...
Indian tax revenue for 2021-22 was estimated at 22.17 lakh crore, received 27.07 lakh crore
3 min read
The tax revenue in the Union Budget for 2021-22 was estimated at ₹22.17 lakh crore against the revised estimates of ₹19 lakh crore, with a growth of 17%. The Union Budget was presented on 1st February, 2021 when the...
As per the Quarterly Bulletin ( January-March 2021) of Periodic Labour Force Survey (PLFS) conducted by National Statistical Office (NSO), the estimates of Unemployment Rate (UR) according to Current Weekly Status (CWS) in urban areas of different States for female, male and persons...
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Major Port Authorities Act 2021 provides regulation, operation and planning of Major Ports in India
3 min read
The Major Port Authorities Act, 2021 provide for regulation, operation and planning of Major Ports in India and vests the administration, control and management of such ports upon the Boards of Major Port Authorities. The legislation empowers these ports...
Special Economic Zones (SEZs) as on 14/02/2022 Presently, there are 425 formally approved Special Economic Zones (SEZs) in the country. As on date, 376 SEZs are notified and 268 SEZs are operational. SEZs are primarily private investment driven initiatives....
Under Pradhan Mantri Jan Vikas Karyakram (PMJVK), which is a Centrally Sponsored Scheme, the communities notified as minority communities under Section 2 (c) of the National Commission for Minorities Act (NCM), 1992 are taken as Minority Communities. The Central...
