11 July, 2020

  • Do we need a Fiscal council? (Article) - Economy
  • Reform with caution (Article) - Polity
  • Right to education is kore than a right - Polity
  • In the name of cooperative federalism (Article) - Polity
  • Solar energy will play big role in Atmanirbhar Bharat: PM - Economy
  • News Summary
  • question for the day

Prelims Quiz

    Solution.

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    Description

    Do we need a fiscal council? 

    The Government needs to borrow more amount of money in order to provide fiscal stimulus and revive the Indian Economy. However, this would lead to increase in the Fiscal Deficit and Public Debt, which can have an adverse impact on the medium-term GDP growth rates of Indian Economy. Apart from that, this can also lead to downgrade in India's Sovereign Credit Ratings. Due to such fears, the Government has restrained itself from announcing higher Fiscal Stimulus measures.

    In order to avoid this problem, some of the economists have pointed out that the Government need not worry about Fiscal Stimulus measures to revive Indian Economy. However, such fiscal stimulus measures should be accompanied by strong Fiscal Consolidation roadmap after the economic recovery. This would ensure that the higher Fiscal Deficit and Public Debt do not have an adverse impact on Economy. At the same time, it would send a strong signal to the market that the Government is committed to the path of Fiscal Discipline.

    • Background on government budgeting
    • What is Fiscal Council?
    • International Experience with Fiscal Council
    • Idea of Fiscal Council in India
    • What should be the role of Fiscal council in India?
    • Way Forward

     

    Reform with caution

    • About the committee for reforms in criminal law
    • Procedural law issues
    • Evidence law changes
    • Amendments to IPC?
    • Authors’ View
    • Way forward

     

    ‘Right to education is more than a right’

    • Evolution of The Right to Education in India
    • The RTE Act provides for the following

     

    In the name of ‘cooperative federalism’ 

    The COVID-19 and the present Economic slowdown requires the coordinated and synergistic efforts from both the Centre and states in the spirit of Cooperative Federalism. The State Governments account for almost two-thirds of the overall capital expenditure in India and hence need adequate amount of financial resources to tide over the economic crisis.

    However, according to a State Bank of India report, the collective loss to GSDP due to the pandemic is Rs 30 lakh crore or about 13.5% of GSDP. This loss in the GSDP accompanied by decrease in the overall revenues has severely constrained the ability of the State Governments to counter the present economic slowdown. In this regard, this article discusses as to how the revenues of the states have been adversely affected on account of number of reasons.

    • Lower Tax Devolution
    • Delay in Payment of GST Compensation
    • Imposition of Cess
    • Lack of Financial Flexibility and Autonomy

     

    Solar energy will play big role in ‘Atmanirbhar Bharat’: PM

    • National Solar Mission
    • PM-KUSUM SCHEME

     

    Prelims Summary

    • China, U.S. in new spat over Uighur crackdown
    • List of fighter aircrafts deployed in Indian Army
    • Rajasthan’s education guidelines irk NCPCR
    Comments

    Md Ayaz Ahmed 4 months ago

    sedition is 124A

    MRITUNJAY RAI 4 months ago

    80