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JUNE, 2023

NEAR TERM ECONOMIC CHALLENGES

• fiscal deficit
• inflation
• current account deficit
• rupee depreciation
• cut in excise duties on diesel & petrol
• stagflation
• indian economy grew 8.7% in 2021 - 2022

5G - in India

GST system

• proposal - dec 2018 - end multiple slabs
• sin tax - high gst rates
• atf, petrol, diesel - exempted - substantial share of taxes in india

fall in value of cryptos

• their prices depend on the demand for them

states, freebies, cost of fiscal profligacy

• state finances should be in conformance with FISCAL Responsibility AND BUDGET Management Targets (FRBM)
• freebies often happen off budget - extra budget borrowings - CAG

bad bank

• nat. asset reconstruction company (NARCL) with india debt resolution company (IDRCL)
• “financial entity to buy non performing assets or bad loas from banks
• help free capital of over 5lakh crore rupees locked by banks against these bad loans
• us, germany, japan tried this
• troubled asset relief program(TARP) - us treasury aftermath of 2008 financial crisis

open network for digital commerce (ONDC)

• 5 cities - delhi ncr, bengaluru, bhopal, shillong, coimbatore
• not for profit org - platform for local digital commerce stores
• neither a aggregator app or hosting platform
• can voluntarily choose to adopt and become a part
• existing platform - centric model - buyer and seller need to use same platform for business transaction
• ONDC - no matter what platform both use, unless connected with ondc

climate change & crop failure

• large deficient rainfall - kerala
• cardamom
• cashew nut
• paddy
• sugarcane
• black pepper
• coffee, tea
• soil fertility

salt sector crisis

• at the time independence, imported from UK
• major sources;
  • sea brine
  • lake brine
  • sub soil brine
  • rock salt deposits
• salt - union list in 7th schedule
• challenge in meeting the rising demand - demand increasing at the rate of 8%, but production at the rate of 3%
• no msp
• british time laws in process
• listed as mining industry - during British time, but only 0.5% is produced through mining currently, remaining through solar production

1. china
2. USA
3. india

guj alone - 80% of total production gujarat, mahtn, adp, odisha, wb 87% - small scale producers

Revenue deficit grants

• dept of expenditure, MoF - released the report for 14 states
• art 275
• 15th Finance commission - recommended post devolution revenue deficit grants to 14 states for 2022- 23
  • HP, UK, PUN,
  • ADP, KTK
  • WB
  • RAJ
  • ASSAM, SIK, MEG, TRI, NAG, MANI, MIZO

PURPLE REVOLUTION

• aroma / lavender mission by csir
• hilly states - ukhand, hp, jk
• lavender -
  • native to Europe, now naturalised in india
  • temperate climate
  • tolerate drought & frost
  • higher altitudes - higher yield
  • requires good sunlight

nat conference on millet

• by ASSOCHAM + MoFPI
• theme: “the future super food for india”
• 5th largest exporter of millets
• major millets growing states
  • har, up
  • raj, guj, mp, mah
  • ktk, tel, adp, tn
  • chatt

mithun

• nat mithun research centre - nagaland - 1988
• autonomous - under IARI
• ruminant species - family bovidae - domesticated wild gaur
• sacrificial ox
• india, china, myanmar, bhutan, bangladesh
• state animal - arunachal, nagaland

udyami bharat programme

• initiatives for MSME
  • RAMP - raising and accelerating msme performance scheme
    • initial outlay - 6000cr
  • CBFTE - capacity building of first time msme exporters scheme
  • PMEGP - pm’s employment generation programme
    • for manufacturing sector 50laks
    • service sector - 20lakhs

NIRYAT portal

• nat import export for yearly analysis of trade
• informational portal
• vanijya bhawan

dutch disease

• country witnesses uneven growth across sectors due to discovery of natural resources especially large oil reserves
• relationship between increase in development of specific sector and decline in other sectors
• export on one good increases - currency appreciates - encouraging imports - decreases price competitiveness of exports of other sectors
• 1977 - 1st coined - decline in manufacturing industries in netherlands due to discovery of gas reserves in north sea

stagflation

10 lakh employment

JULY, 2023

depreciation of indian rupee

• depreciated more than 7% from the beginning of 2022
• discourages imports
• import more expensive
• inflation
• reason:
  • massive outflow of FPI
  • drop in forex reserves
  • increased demand for dollar
  • excess supply of rupee
  • widening trade deficit - spending more in imports than exports
  • increased import of gold - 33% more compared to 2021 imported in 2022
• RBI measures:
  • liberalise foreign inflows
  • high interest rates on foreign currency non resident bank and external deposits
  • sell dollar to offer more support to rupee
  • improve the demand for rupee and increase its value
• govt measures;
  • increase import duty on gold
  • impose cess on export of crude oil and fuels

outflow of fpi from india

• pull factor - attracting fpi
• push factor - outward flow of fpi

india’s investment led revival

• asian financial crisis, 1997 - public infrastructure projects - golden quadrilateral project, PM gram sadak yojana
• helped crowd private investments

gdp

• employment elasticity - % change in employment associated with % point change in economic growth
• 1% of gdp growth today yields less than 1/4th pf the number of good quality jobs that it did in 1980s

five years of gst

• initially increased inflation
• cpi increased to 4.24% after implementation
• revenue neutral rate (RNR) - rate of tax that allows the govt to keep earning the same tax revenue, despite a change in the governing tax laws
• positive impacts - on inflation of goods like pan, tobacco, intoxicants, clothing and footwear, housing, miscellaneous
• govt est nat anti profiteering authority (NAA), to make sure companies did not use gst as an excuse to raise prices.

gst on select food items sold in pre packed, labelled form even if not branded

• 5% levied
• upto 25kgs
• 85% of the country’s consumers use unbranded goods

dragon fruit

• indigenous to america
• cactaceae family
• super fruit
• tropical and sub tropical areas
• mah, ktk, adp, wb, tel, tn, odi, guj, a&n islands

RANKING OF STATES’ EXERCISE, 2021 - DPIIT

• since 2018
• facilitate ease of building a start up
• 7 broad reform areas - 26 action points
• best performers:
  • state - guj, ktk
  • ut & ne - meg
• top performers:
  • states - ker, mah, odi, tel
  • ut & ne - j&k

nat apprenticeship promotion scheme, 2016

• MoSD&E
• nat skill dev corpration

taranga hill - ambaji - abu road rail line

• cabinet committee on economic affairs approved
• between ahmedabad and abu road, guj

settling intl trade in rupees

• special vostro account
• with SL, Iran, Russia
• reduce the risk of depreciation of rupee
• towards complete convertibility of rupee
• concern - volatility of rupee

FEBRUARY, 2023

ICRISAT

• intl crops research institute for semi arid tropics
• intl org
• 171
• FAO & UNDP

india’s first water taxi

• mah

nat agriculture disaster management scheme

• ICAR, MoA&FW, NICRA, NADM
• disaster management act, 2005

PM - DevINE

• development initiative for north east
• implemented through north eastern council

saffron bowl project

• perennial herb - family iridaceae
• best on acidic soi
• temperate climate regions, can also cultivate in tropical regions
• jk, hp
• pampre -saffron bowl of kashmir
• extending its cultivation to north east

towns of export excellence

• financial assistance under market access initiative scheme
• export promotion capital goods scheme
• karur - tn

centre to form FPOs with small farmers

• small and marginal farmes - 80% of the farming community in india

rbi digital currency plan

• central bank digital currency cbdc
• 2020 - bahamas - world’s first cbdc

step up agri spending, boost farm incomes

• AGRICULTURE ORIENTATION INDEX
  • developed as a part of GOAL 2 - ZERO HUNGER - 2030 agenda for sustainable development
  • dividing agriculture share of govt expenditure by agri value added share of gdp
• INDIA:
  • budgetary allocation: increased by 4.4% in 2022-23
  • one of the lowest, not commensurate with sector’s contribution
  • 38th rank globally
• eastern asian countries highest in asia
• concerns:
  • overall increase in the allocation of market intervention scheme and price support scheme was low
  • PM annadata aay sanrakshan abhiyaan (PM ASHA) - reduction in 2021-22

time to relook at privatisation

• fiscal deficit for fy22 - 6.8% of gdp
• 12.7% if debts of states are included
• disinvestment commission - 1996 under min of industries
• dept of disinvestment under min of finance, later upgraded to ministry, then degraded to dept in 2004
• concerns of monopoly:
  • cigarettes - single player - 77% market share in fy21
  • paint - one entity - 40% in fy 21
  • telecom - 3 players
  • airways
• singapore - min - policy making; temasek holding - private firm - takes care of privatisation

dipping graph in occupational safety and health (OSH)

• CRUSHED report, 201 by SAFE IN INDIA (SII)
• industria accidents are reported by labour bureau
  • industrial injuries are covered only in few sectors like factories, mines, railways, ports, etc.
  • doesn’t include plantations, construction, service sector, etc
• challenges :
  • under reporting
  • defaulth by major states like tn, kerala
  • shortage on inspectors: proportion of sanctioned factory inspectors rate for india - 70.6% - 2019
    • mah 38.93%
    • guj - 57%
    • tn - 58%
• 2019 - one inspector for every 487 registered factories
• one inspector for every 25,415 workers
• low inspection rates
• low conviction rates
• international labour org conventions, labor inspection convention, 1947; labour statistics convention, 1985 - ratified by india
• VISION@2047 document for the labour ministry to be framed

on equal footing - high and low income states

• HIS - high income states - mah, tn, guj, ktk, adp, tel - 32% population - 4% of factories - 54% net value added to the country - 55% of institutional credit - 56% of industrial credit
• LIS - low income states - bihar, jkhand, up, mp, odisha, raj - 43% population - 15% institutional credit - 5% industrial credit
• ENERGY INDIA OUTLOOK, 2021 - prices of electricity different among states due to different tax and subsidy regimes
• CENTRAL ELECTRICITY AUTHORITY, 2021 - 6 HIS - consumed 50% of total installed capacity of power; 6 LIS got 25% of power
• solutions:
  • one tariff policy
  • 1 nation, 1 grid, 1 frequency, 1 price

lifting of export prohibition on bamboo charcoal

• KHADI & VILLAGE INDUSTRES COMMISSION (KVIC) urged govt to lift export prohibition
• bamboo wastes are used for making bamboo charcoal
• rising demand in us, japan, korea, belgium, germany, italy, france, uk
• exports of bamboo charcoal, bamboo pulp, unprocessed shoots are in the prohibited category in India

KISAN DRONES

• drones in agri for smart and sustainable agriculture

india has still to get a good grip on road safety

• MoRT&H - target - reduce 50% of road accidents by 2025 and bring down number of deaths due to road accidents to zero by 2030
• motor vehicles (amendment) act, 2019 - included penalty for violation of rules - but not implemented uniformly

a red pen moment for corporate governance

• sebi - regulatory authority - sebi act, 1992

role of MIIs

• market infrastructure institutions
• stock exchanges, depositories, clearing houses - together called MIIs
• bimal jalan comittee, 201 - defined MII
• a technical glitch in the nse, in 2021 - resulted in trade block for 4 hours

economic survey - 2021 - 22

union budget 2022

• 4 priorities
  • pm gati shakthi
  • inclusive development
  • productivity enhancement & investment, sunrise opportunities, energy transition, climate action
  • financing of investments

parvatmala

• ta ropeways development programme
• hilly states - hp, ukhand, jk, north east
• PPP mode

a betrayal of the social sector when it needs help:

• reduced allocation for PM POSHAN - mid day meal scheme

a disjointed response

• taxation regime for virtual digital assets at 30% along with applicable surcharge and cess
• commissioner of income tax, guj VS sc kothari: a business if illegal, neither profit nor loss is enforceable by law. but this does not take the profit out of tax statute

APRIL 2023

Interchange fee on UPI

Foreign trade policy 2023

Smart cities mission

Vibrant Villages programme

SEBI - new measures

controlled digital lending - issue of public interest

poor testing of pashima shawls

Dabba trading

EU’s ew crypt legislation

virtual digital assets

wheat blasts

mircha rice

chinese dual use infra facilities in myanmar and SL

future of nuclear power

baba saheb ambedhkar yatra

not by vande bharat alone

welfare of gig workers

digital higways

india - malaysia settle trade in rupee

February 2025

LIC receives ₹57.2 crore GST notice from Delhi Government

Life Insurance Corporation of India received a goods and service tax notice from the State government of Delhi on February 24 asking for a ₹57.27 crore monetary sum.

The Assistant Commissioner, Ward 206: Zone 11 of Delhi, has demanded the GST amount from the state-owned insurance giant.

According to the official release, the demand notice comprises ₹31,04,35,201 (31.04 crore) of GST, ₹23,13,21,002 (23.13 crore) of Interest payments, and ₹3,10,43,519 (3.10 crore) in GST penalties.

LIC shares have lost 6.25 per cent in the last five-year period and over 25 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares are trading 13.60 per cent lower in 2025. However, in the last five market sessions, LIC shares have gained 1.7 per cent.

Mint

SWAYATT Initiative on GeM – 6 Years of Impact

📍 About SWAYATT Launched on 19th Feb 2019, SWAYATT promotes women-led enterprises, startups, MSMEs, and SHGs in public procurement.

Objective: Improve market access, finance, and value addition for entrepreneurs through GeM (Government e-Marketplace).

📍 Key Achievements 8% of registered sellers on GeM are women entrepreneurs. Enabled startups to fulfill ₹35,950 Cr worth of orders. 1,77,786 MSMEs registered, achieving ₹46,615 Cr in transactions. 29,000+ startups have business opportunities on GeM.

📍 Major Partnerships & Future Goals MoU with FICCI-FLO to provide direct market access to 9,500+ women entrepreneurs. Expansion of “Startup Runway” & “Womaniya” storefronts for better visibility. Target to onboard 1 Lakh DPIIT-registered startups and double women’s procurement share from 3.78%.

March 2025

Swavalambini Scheme

Swavalambini aims to establish a structured and stage-wise entrepreneurial journey for young women. 

This programme aims to nurture the entrepreneurial spirit among young women in Higher Education Institutions (HEIs) by providing them with the necessary mindset, resources, and mentorship to successfully build and scale their ventures.

📍Key Features of the Swavalambini Programme

Faculty Development Programme (FDP): Swavalambini focuses on training faculty members from participating Higher Education Institutions (HEIs) with five-day training sessions.

Mentorship: Once participants have developed their business plans, they receive mentorship from industry experts and successful entrepreneurs.

📍Additionally, the programme facilitates:

Access to funding opportunities through government schemes and private investors. Networking opportunities with established business leaders and professionals.

Women Entrepreneurship Development Programme (EDP): Building on the foundation laid in the EAP, the Entrepreneurship Development Programme (EDP) provides a deeper understanding of: 🔸Business planning, Leadership and decision-making skills, 🔸Financial literacy and investment strategies. 🔸Market research and competitive analysis

December 2025

Intraday trading

• Refers to the buying and selling of stocks within the same trading day
• There is no transfer of share ownership to your demat account
• The goal is to profit from small price fluctuations that happened during the day
• You never technically own the shares, and are not eligible for dividends or voting rights

Buying long

• You expect the price to go up
• buy at so ₹100 at 10:00 AM and sell at ₹102 at 2:00 PM

Selling short

• you expect the price to go down
• you sell shares but you don't own borrowed from the broker, at ₹100 and buy them back at ₹98 literally to make a profit.

January 2026

Additional excise duty on tobacco products and health says on pan masala

the new levy on the tobacco and pan masala will be over and above the GST rate and will replace the compensation fees that are currently being levied on such sin goods.

Products such as pan masala, cigarettes, tobacco, and other products will attract a GST rate of 40%, while beedis will attract 18% GST.

On top of this, a health and national security system will be levied on Paan Masala, while tobacco and related products will attract additional excise duty.

The Finance Ministry also notified that Chewing Tobacco, Jarda Scented Tobacco and Gutka Packing Machines (Capacity Determination and Collection of Duty) Rules 2026. with Feb 1 as the implementation date for these levies.

Business Standard