Budget announces implementation of Nirvik Scheme

News:The Finance minister has announced the NIRVIK (Niryat Rin Vikas Yojana) scheme in the Budget 2020. Facts: About NIRVIK Scheme: Aim:To provide a) enhanced insurance cover b) reduced premium for small exporters and c) Simplified procedure for claim settlements. Ministry:The scheme is being prepared by the Ministry of Commerce and Industry. Features of the scheme:… Continue reading Budget announces implementation of Nirvik Scheme

Budget 2020:Dividend Distribution Tax

News:Union Budget has proposed to abolish the dividend distribution tax(DDT) at the company’s level.The dividend income will now be added to the taxable income of the recipient and taxed at the applicable rate. Facts: About Dividend Distribution Tax(DDT): A dividend is a return given by a company to its shareholders out of the profits earned… Continue reading Budget 2020:Dividend Distribution Tax

Budget 2020:Investment Clearance Cell

News:The Finance Minister has proposed setting up of ‘Investment Clearance Cell’ for young entrepreneurs. Facts: About Investment Clearance Cell: The Investment Clearance cell will be a pan-India single-window clearance system for entrepreneurs. It will be setup by the Department for Promotion of Industry and Internal Trade(DPIIT). The cell will give investors free investment advisory, land… Continue reading Budget 2020:Investment Clearance Cell

Budget 2020:Taxation and Governance

News:The Finance minister has announced the Vivad Se Vishwas scheme in Budget 2020-21 that would help in reducing litigation. Facts: About Vivaad se Vishwas Scheme: Vivaad se Vishwaas is an amnesty scheme aims at reducing tax litigations pending at various forums. Under the proposed scheme, a taxpayer would be required to pay only the amount… Continue reading Budget 2020:Taxation and Governance

Union Budget 2020-21

News:The General Budget 2020-21 has been presented by the Union Finance Minister in the Lok Sabha. Facts: About Budget: The word Budget has not been used in the Constitution of India.Rather Article 112 of the Constitution of India mentions the term “Annual Financial statement”. The budget is a statement of the estimated receipts and expenditure… Continue reading Union Budget 2020-21

Budget 2020:Macro-economic Framework Statement (MFS) 2020-21

News:In Budget 2020-21,Government of India has presented the Macro-economic Framework Statement(MFS) 2020-21. Facts: Key Highlights of the statement: The Macroeconomic Framework Statement(MFS) 2020-21 describes the return path of fiscal consolidation without compromising the needs of investment out of public funds. Fiscal Deficit:The government’s fiscal deficit for 2019-20 will be 3.8% of the gross domestic product(GDP)… Continue reading Budget 2020:Macro-economic Framework Statement (MFS) 2020-21

Budget 2020: Govt unveils 16-point action plan to revive agricultural sector

News:Union Finance minister has proposed 16 action points focusing on doubling Farmers income, Horticulture sector, Food storage, Animal Husbandry and Blue economy. Facts: About 16 point Action Plan:The key highlight of the 16-point action plan includes: Help 20 lakh farmers setup standalone solar pumps under PM-KUSUM scheme. Artificial insemination to be increased to 70% from… Continue reading Budget 2020: Govt unveils 16-point action plan to revive agricultural sector

Union Budget 2020:Education and Skill Development

News:The Budget 2020 was presented at the Parliament under three themes. One of the themes is Aspirational India.The Education and Skills is a subtheme under Aspirational India. Facts: Key takeaways in the Education Sector and Skill Development: Under Study in India Programme,IND-SAT exam will be conducted in African and Asian countries for foreign candidates who… Continue reading Union Budget 2020:Education and Skill Development

7 PM Daily Editorials Brief – February 9, 2018 (Union budget 2018-19: a cause for women to cheer)

Read In-depth analysis of all the Editorials here Source : Ujjwala Yojana to benefit eight crore women now Analysis : Union budget 2018-19: a cause for women to cheer