GST will subsume almost all cesses
The issue? The GST is a destination-based tax, and as such is viewed as being to the advantage of the consuming States and to the detriment of the producing States…
All about Goods and Service Tax
Goods and Services Tax (GST), a historic tax reform, will come into effect from tomorrow i.e.1st July, 2017. GST will completely transform the Indirect Taxation landscape in the country involving both…
Legal Metrology (Packaged Commodities) Rules, 2011
Use of proper, accurate and standard weights and measures are very important for effective functioning of any economy, as it plays an indispensable role in consumer protection as protection from…
What is capital flight in economics?
A term that refers to an event where investors pull capital out of an economy on a large scale by selling the financial assets that they own. Capital flight occurs…
What is Ordoliberalism in Economics?
An economic ideology that views the the state as an institution that offers an appropriate legal framework for the efficient functioning of the market economy. It emphasises that the state…
What is Hubris syndrome in Psychology?
A condition where the behaviour of politicians, business leaders, and other people in power, changes for the worse as they come to enjoy increasing power and influence. The syndrome causes…
RBI has indicated that India’s CAD has narrowed
According to Reserve Bank of India (RBI), India’s current account deficit (CAD) narrowed during 2016-17 fiscal owing to a contraction in the country’s trade deficit. The CAD for the last…
India Liveability index
The urban development minister has launched its first liveability index which will rank the country’s 116 major cities on the basis of the quality of life. The index named ‘City…
What is Kuznets curve in Economics?
A curve used to demonstrate the hypothesis that economic growth initially leads to greater inequality, followed later by the reduction of inequality. The idea was first proposed by American economist…
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