Levy and Collection of GST – Scope of supply (Section 7) Relevant for Exam.

Q1. What is the scope of the term ‘supply’ as defined in the CGST Act, 2017? Ans. As per Section 7(1) of the CGST Act, 2017, Supply includes: 1. all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made […]

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Pradhan Mantri Gram Sadak Yojna (PMGSY)

GS Paper 3 of UPSC  Topic Name : Infrastructure. Pradhan Mantri Gram Sadak Yojna (PMGSY) PMGSY Context: A parliamentary panel has found discrepancies including diversion of funds, issuing tenders prior to technical sanctions, incomplete projects, preference to certain villages etc. in the implementation of the Pradhan Mantri Gram Sadak Yojna (PMGSY) — a flagship programme of […]

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LONG TERM CHALLENGES OF INDIAN ECONOMY

What are the ‘Long-term challenges’ that the Economic Survey 2018 highlights? Challenges of long-term – Economic Convergence Gender Inequality and Women empowerment Climate change and Agriculture Delays in the Appeals and Judicial Process Science and Technology ECONOMIC CONVERGENCE Theory of Economic Convergence or the ‘Catch-Up Effect’   What is Economic Convergence or the ‘Catch- Up […]

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CURRENT SCENARIO of INDIAN ECONOMY as per Economy Survey 2018

Understanding India’s (Temporary) “Decoupling” India’s economy temporarily decelerated as the rest of the world accelerated. Reasons: demonetization, teething difficulties in the new GST, high and rising real interest rates, Twin Balance Sheet (TBS) problem, and sharp falls in certain food prices that impacted agricultural incomes also rising oil prices Later, economic growth improved as some […]

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National Income-Definition, Usefulness and Importance of National Income

National Income Definition of National Income :-National Income refers to as the net economic value of all final goods and services produced within the domestic territory of a country in an accounting year plus the net factor income from abroad. According to the Central Statistical Organisation (CSO) ‘National income is the sum total of factor […]

Attracting and Retaining Youth in Agriculture (ARYA)

Ministry of Agriculture and Farmers Welfare Implemented by : ICAR (Indian Council of Agricultural Research), Ministry of Agriculture & Farmers Welfare. Objective: The objectives of ARYA project are To attract and empower the Youth in Rural Areas to take up various Agriculture, allied and service sector enterprises for sustainable income and gainful employment in selected […]

Highlights of the Economy Survey 2018

1. Highlights of the macro economy Gross Domestic Product (GDP): The Central Statistics Office (CSO) has estimated the GDP growth to be 6.5% in 2017-18 as compared to 7% in 2016-17.  The average GDP growth rate from 2014-15 till 2017-18 is expected to be 7.3% as compared to the average 7.5% between 2014-15 and 2016-17.  […]