Context: A Group of Ministers (GoM), led by Bihar´s Deputy Chief Minister Samrat Chaudhary, has recommended full goods and services tax (GST) exemption on pure term life insurance policies by reducing it to 5 percent from 18 percent. What is Goods and Services Tax(GST)? Main Features of GST Read more>>
India on 10th spot in US trade deficit rankings
Context: India was not among the top 10 countries with the largest trade deficits with the US in CY 2023, but ranked 10th according to data for CY 2024, as electronics exports recorded an increase. Key Highlights: Countries where the US records a trade deficit: India’s trade deficit statistics: What is Trade Deficit? Also Read: Merchandise Export Falls
Fiscal Deficit at 4.4% of GDP FY26
Context: The government is expected to set the fiscal deficit target at 4.4 per cent of gross domestic product (GDP) for FY26 in the upcoming Budget. What is Fiscal Deficit? Also Read: Fiscal Deficit Hits 46.5% of FY25BE
Net Direct Tax Collections Rises
Context: India’s net direct tax collections were up 16.5%, crossing â‚ą15.82 lakh crore by December 17, with non-corporate taxes leading the growth. What is Direct tax and Indirect Tax? Direct Taxes are imposed on one’s income and earnings and are paid directly to the government. On the other hand, indirect taxes are just opposite and are paid to the government whenever any goods or services are purchased.
Manage Sacred Groves: SC tells Govt.
Context: The Supreme Court on Wednesday directed the Centre to create a comprehensive policy for the management of sacred groves across the country. Key Highlights:
INS Nirdeshak
Context:INS Nirdeshak, the second ship of the Survey Vessel project, was commissioned into the Indian Navy. Key Features:
HLVM3 for Gaganyaan’s Flight
Context: The Indian Space Research Organisation on Wednesday commenced the assembly of the Human Rated Launch Vehicle Mark-3 (HLVM3) for the Gaganyaan mission’s maiden uncrewed flight. What is Gaganyaan Mission?
Ganges River Dolphin
Context: GUWAHATI A team of wildlife conservationists tagged the almost-blind Ganges river dolphin for the first time in India. Ganges River dolphin (Platanista gangetica gangetica) According to the IUCN, the Ganges River dolphin (Platanista gangetica gangetica) is listed as endangered. The Ganges River dolphin are almost blind and uses echolocation to navigate, find prey, and sense its environment. Also known as the Susu.
India-China talks
Context: India and China “positively affirmed” the outcome of their disengagement agreement on the Line of Actual Control (LAC), as National Security Adviser Ajit Doval met with Chinese Foreign Minister Wang Yi in Beijing on Wednesday for the first boundary talks between the Special Representatives (SRs) since 2019. The Line of Actual Control (LAC) The LAC is the actual line of control separating the part of Indian territory from that of China. The line is drawn with the 1962 Sino-Indian war. Some remarks about the LAC: Read more about LAC?
H-1B Visa Rules to Hire Foreign Workers
Context: The outgoing Biden administration has relaxed rules for H-1B visas that will make it easier for American companies to hire foreign workers with special skills and facilitate a smoother transition from F-1 student visas to H-1Bvisas, a move that is likely to benefit thousands of Indian tech professionals. What is H1B Visa? H-1B non immigrant visa program allows U.S. employers to temporarily employ foreign workers in specialty occupations, defined by statute as occupations that require highly specialized knowledge and a bachelor’s or higher degree in the specific specialty, or its equivalent.
