Context The Asian Development Bank (ADB) recently warned that India could face imported inflation as the rupee could depreciate amid the rise in interest rates in the West Imported Inflation It refers to the rise in the prices of goods and services in a country, caused by an increase in the price or the cost […]
Imported inflation Read More »
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
Fiscal Challenges Confronting Low-income Nations Read More »
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
13th Finance Commission Chairman called for GST Reform Read More »