Goods and Services Tax (GST) rolled out as soon the clock chimed midnight on Saturday, July 1, 2017, the One Nation - One Tax - One Market, is the biggest tax reform in Indian history that promises to change the way India does business and has potential to add up to 2 percent to India’s GDP. GST that subsumes around 17 c...
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Category: Economy
NITI Aayog to Transform UP
National Institution for Transforming India (NITI) Aayog, at the instance of Prime Minister Office, has drawn up plan to transform Uttar Pradesh, with focus on tackling education, health & poverty, tourism, infrastructure creation, connectivity and the complete development of the state. Centre to assist UP on mission mode with efforts to pull state out of poverty and lift its performance across indices to li...
India revises macroeconomic Indices to capture structural changes in economy and improve the quality and representativeness
India has revised its key macroeconomic indicators to capture structural changes in the economy and improve the quality and representativeness of the indices. The base year of the all-India Index of Industrial Production (IIP) & Wholesale Price Index (WPI) has been revised from 2004-05 to 2011-12 to align i...
Ease of Doing Business in India
The scenario on the front doing business in India has improved with India jumping up in global ranking from 134 in 2015 to 130 in ease of doing business index published by the World Bank in 2016, as the government has initiated certain measures to remove bottle necks so that a positive environment may be created in hassle free for commercial establishments, particularly start up businesses to flourish. The draco...
Trends in Banking Progress to Financial Inclusion
The statutory Report on Trend and Progress of Banking in India 2015-16 (RTP) has been released on December 29, 2016 by Reserve Bank of India (RBI). RTP presents performance and salient policy measures relating to the banking sector during the fin...
Success of Startup Scenario
The startup business in India, though relatively new, has been warmly welcomed by business community, particularly by budding entrepreneurs because of the opportunities it brought to willing and capable entrepreneurs who had earlier not been able to start their own businesses due to lack of adequate capital. They found latitude in starting their new ventures due to government’s meg...
BHIM-Aadhaar Pay app a Path Breaking Initiative
BHIM-Aadhaar Pay app, launched by Prime Minister Narendra Modi on April 14, 2017, on the occasion of the 126th birth anniversary of Dr. B. R. Ambedkar, is a system which allows payment through thumb impression. It is a robust, secure and user friendly digital ecosystem for citizens that will be seen as the foundation for an economic revolution in the wor...
Digi Dhan Vyapar Yojana Cashback Award Scheme for Merchants
The era of playing fraud with the system came to a sudden halt when the Prime Minister Narendra Modi, in his historic announcement of November 8, 2016, declared the high values currency as null and void. The declaration came as shock to those who took the laws, rules and regulations for granted; but the honest citizens across the length and breadth of the country celebrated the unshackling of the system from sco...
Brexit-Britain Leaving European Union
Brexit is the term derived from the addition of two words -Britain and exit- implying British declaration of abandoning the membership of European Union (EU) which finally came on 23 June, 2016 through a referendum in which 51.9% of British voters exercised their votes in favour of withdrawing from European Union whereas the rest voted against the proposal. The results of the referendum came as a shock to the in...
Surge in Digital Payments Leads to Less Cash Economy
Surge in digital payments is leading India to the cusp of a digital revolution as more than one billion Indians have a unique identity number with a biometric identifier which is unique in its own way. Even countries which are technologically far more advanced than India with comparatively much smaller size population do not have such a system in place. The Aadhaar card initiative is a watershed event in the dev...