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RBI to issue new fluorescent blue Rs 50 banknotes

23 hrs ago
Important for Exam: 3 people agreed

The note has other designs, geometric patterns that align with the overall colour scheme, both at the obverse and reverse sides.

Cabinet approves raising Rs 9020 Cr for Long Term Irrigation Fund

Aug 18, 2017
Important for Exam: 1 people agreed

The Union Cabinet has given its approval for raising Extra Budgetary Resources (EBR) of up to Rs 9020 Cr for Long Term Irrigation Fund as per the requirement during 2017-18.

Union Government releases 4th Advance Estimate of production of major crops for 2016-17

Aug 17, 2017
Important for Exam: 0 people agreed

The total food grain production in the country is estimated at 275.68 million tonnes, which is higher by 10.64 million tonnes (4.01%) than the previous record production of food grain achieved during 2013-14.

Cabinet approves procedure and mechanism for Strategic Disinvestment

Aug 17, 2017
Important for Exam: 3 people agreed

The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of Department of Investment and public Asset Management (DIPAM) for revision in the procedure and mechanism for strategic disinvestment.

RBI makes Aadhar linkage mandatory for farmers to avail short-term crop loans in 2017-18

Aug 17, 2017
Important for Exam: 3 people agreed

To ensure the concessional crop loan reaches to genuine farmers, RBI has advised banks to ensure proper documentation including the recording of land details even when the farmer avails gold loans for such purposes.

Economic Survey Volume II admits achieving 7.5% growth target for this fiscal as tough

Aug 12, 2017
Important for Exam: 6 people agreed

Volume 2 of the Survey noticed a rekindled optimism on structural reforms in Indian economy riding on various factors such as Positive impacts of demonetization, Launch of the GST among others.

Parliament passes Banking Amendment Bill empowering RBI to deal with wilful defaulters

Aug 11, 2017
Important for Exam: 8 people agreed

Parliament has passed the Banking Regulation (Amendment) Bill, 2017 with the Rajya Sabha approving it on 10 August 2017; the Lok Sabha has already passed it.

SEBI launches online registration for custodians of securities

Aug 10, 2017
Important for Exam: 0 people agreed

Custodian of securities holds shares and other assets in electronic or physical form.

RBI releases Third Bi-monthly Monetary Policy Statement 2017-18

Aug 3, 2017
Important for Exam: 5 people agreed

The economic growth forecast was retained at 7.3 per cent amid prospects of a better harvest even though the industrial sector continues to struggle.

PM Modi announces Rs 100cr corpus to study & find permanent solution to flood problem in North-East

Aug 2, 2017
Important for Exam: 2 people agreed

PM Modi has announced Rs 2000 crore as an immediate aid for flood-hit Assam, Arunachal, Nagaland, Manipur and Mizoram.

Union Government orders LPG prices to be hiked by Rs 4 per month

Aug 1, 2017
Important for Exam: 6 people agreed

Earlier, the government asked Indian Oil, Bharat Petroleum and Hindustan Petroleum to raise rates of subsidised domestic LPG by Rs 2 per 14.2-kg cylinder per month.

BRICS nations sign memorandum to facilitate taxation cooperation

Jul 28, 2017
Important for Exam: 11 people agreed

Tax authorities of the five BRICS nations signed a landmark document, the BRICS Taxation Cooperation Memorandum to establish a mechanism for taxation cooperation.

Union Cabinet approves revision of guidelines of Sovereign Gold Bonds Scheme

Jul 27, 2017
Important for Exam: 1 people agreed

As per the changes, the investment limit per fiscal year has been increased to 4 kilogramme for individuals, 4 kilogramme for Hindu Undivided Family and 20 kilogramme for Trusts and similar entities notified by the Government from time to time.

Banking Regulation (Amendment) Bill, 2017 introduced in Lok Sabha

Jul 24, 2017
Important for Exam: 5 people agreed

It empowers RBI to issue other directions for resolution, appoint or approve authorities or committees to advise the banking companies for stressed asset resolution.

Union Government launches Pradhan Mantri Vaya Vandana Yojana

Jul 21, 2017
Important for Exam: 11 people agreed

The Scheme can be purchased offline as well as online through Life Insurance Corporation of India which has been given the sole privilege to operate this scheme.

Finance Minister Arun Jaitley released National Trade Facilitation Action Plan

Jul 21, 2017
Important for Exam: 3 people agreed

The NTFAP aims to improve ease of doing business by improving investment climate through better infrastructure and doing away glitches that trouble businesses to perform well.

GST Council increases cess on cigarettes

Jul 18, 2017
Important for Exam: 6 people agreed

The cess was increased to make the total tax incidence on cigarettes in GST regime at par with the total tax incidence in pre-GST regime.

Railways Minister dedicates country's first solar powered DEMU train to nation

Jul 15, 2017
Important for Exam: 15 people agreed

India’s first 1600 HP solar-powered DEMU train was launched from Safdarjung railway station. It will run from Sarai Rohilla in Delhi to Farukh Nagar in Haryana.

Union Government forms Directorate to flag high-risk areas in Customs, GST

Jul 14, 2017
Important for Exam: 1 people agreed

The Directorate General of Analytics and Risk Management will function under the Central Board of Excise and Customs (CBEC) for data analytics and risk management.

GST Rates: Services by Educational Institution to students are exempted from Tax

Jul 14, 2017
Important for Exam: 1 people agreed

Denying the reports that GST@18% is levied on fees being charged for lodging hostels, the finance ministry said that there is no change in tax liability relating to education and related services in the GST era, except the reduction in tax rate on certain items of education.

DIPP to set up India’s first TISC in Punjab

Jul 14, 2017
Important for Exam: 2 people agreed

TISC offers several services like access to online patent and non-patent resources and assistance in searching and retrieving technology information among others.

Union Government launches new tax payer service module Aaykar Setu

Jul 11, 2017
Important for Exam: 5 people agreed

While launching the Aaykar Setu, Arun Jaitley stated that this e-initiative would help in reducing physical interface between assesses and tax assessing authorities and thereby minimizing the chances of any tax harassment.

Union Government exempts import of aircraft, aircraft engines from ambit of GST

Jul 10, 2017
Important for Exam: 2 people agreed

The aviation industry had been asking for relief as it was facing a dual levy of 5 per cent at the time of import and another 5 per cent at the time of payment of lease rent.

MRP on packaged consumer products to be same from January 1

Jul 7, 2017
Important for Exam: 7 people agreed

The Legal Metrology (Packaged Commodities) Rules, 2011 was amended to make manufacturers to sell a packaged product at same price across all platforms.

EPFO inks agreement with 5 banks to collect PF dues

Jul 6, 2017
Important for Exam: 8 people agreed

Before, only State Bank of India was authorised to collect contributions from employers and make payment to employees.

CGST won't apply on items not registered under trademark law

Jul 6, 2017
Important for Exam: 1 people agreed

The Registered Brand Name is defined as the brand name or trade name, which is registered under the Trade Marks Act, 1999.

Notify price increase through advertisement in two newspapers, if increased due to GST

Jul 5, 2017
Important for Exam: 2 people agreed

The manufacturers, traders and importers have been given a time till 30 September 2017 to sell out the pre-GST goods, i.e., stock lying with them prior to 1 July 2017.

Government listed 22 products for physically challenged persons at concessional GST rate of 5%

Jul 4, 2017
Important for Exam: 1 people agreed

Products to be made available at 5% concessional GST rates includes Braille writers and braille writing instruments & Optical, Environmental Sensors among others.

Free GST Facilitation Centres set up across Goa

Jul 4, 2017
Important for Exam: 0 people agreed

In Goa, the Office of the Commissioner of Commercial Taxes has set up GST facilitation centres in ward offices across the state and at the department’s head office in Panaji.

President Bashar Assad appears on Syrian Lira for first time

Jul 3, 2017
Important for Exam: 1 people agreed

The Syrian Central Bank has put into circulation a new 2,000 Syrian Lira ($3.9) banknote with the face of country’s current President Bashar Assad.

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