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Fiscal Challenges Confronting Low-income Nations

Context The International Monetary Fund (IMF) has expressed its concern over the debt and fiscal challenges confronting low-income nations. Background The IMF lowered its 2024 growth forecast for low-income countries as a group to 4.7% from an estimate of 4.9% in January. Meanwhile, the World Bank noted a concerning trend where half of the world’s …

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13th Finance Commission Chairman called for GST Reform

Context The Goods and Services Tax (GST), introduced in India in 2017, is characterized by multiple tax rates and a compensation cess on certain goods The structure, which was largely designed to maintain revenue neutrality, has been deemed counterproductive High GST rates have led to an increase in tax evasion and fraud.  Key Issues involved …

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Real Estate (Regulation and Development) Act, 2016

Real Estate (Regulation and Development) Act, 2016 Context • The Union Ministry of Housing and Urban Affairs is in the process of reviewing the functioning of the Real Estate (Regulation and Development) Act, 2016. About • To protect the interest of homebuyers and to ensure transparency and accountability in the Real Estate Sector, Parliament enacted …

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