21 Sep, 2019

  • In a Big Boost, Govt. Cuts Corporate Tax - Economy
  • No GST Relief for Automobiles - Economy
  • Firms Can Use CSR Funds for Research and Development - Economy
  • An Independent Fiscal Watch Dog for Parliament - Economy
  • Rs. 58 Crores Saved in Reverse Tendering: AP - Geography
  • Practice questions

Prelims Quiz

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    AN INDEPENDENT FISCAL WATCHDOG FOR PARLIAMENT

    There is a major institutional gap in India's Fiscal System. This gap has been recognized and identified by number of committees such as recent Finance Commissions and the FRBM Review Committee. International experience also points to the importance of such an institution. In order to overcome this gap, in many countries, a ‘Fiscal Council’ has been set up.

    • About Fiscal Council
    • International Experience with Fiscal Council
    • Fiscal Council in India
    • Need for Fiscal Council in India

     

    IN A BIG BOOST, GOVT. CUTS CORPORATE TAX    

    The Union Finance Minister has recently stated that the Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance Act 2019. This has been done in response to the present economic slowdown so as to provide corporate tax relief to the corporate sector and promote greater amount of investment in the Indian Economy.

    • About Corporate Tax in India
    • Minimum Alternate Tax (MAT)
    • Government's Announcement on Tax Changes
    • Likely Impact

     

    NO GST RELIEF FOR AUTOMOBILES                                            

    In its 37th Meeting, the GST Council has announced a number of changes in the GST regime. In this regard, let us look at the important highlights of the announcement.

    • Difference from the Google Maps or GPS based maps
    • Survey of India

     

    RS 58 CR. SAVED IN REVERSE TENDERING: A.P.   

    The Andhra Pradesh  government appears to have succeeded in its attempt to go in for reverse tendering. It has saved Rs 58 crore. 

    • POLAVARAM dam

     

    FIRMS CAN USE CSR FUNDS FOR R&D

    The Government has decided to expand the scope of CSR 2 percent spending.

    • Government announcement
    • What is CSR
    • Legal mandate
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