Economy

MSME Outreach Programme

As part of this programme, 12 key initiatives are unveiled which will help the growth, expansion and facilitation of MSMEs across the country. There are five key aspects for facilitating the MSME sector. These include: Access to credit, Access to market, Technology upgradation, Ease of doing business, and Sense of security for employees.   MSME …

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IL&FS Controversy

Context: A series of defaults by the IL&FS holding company and group outfits beginning in August have set off a market-wide contagion. About IL&FS: Infrastructure Leasing & Financial Services Ltd. (IL&FS) was set up in 1987 to finance and promote infrastructure projects in the country. This holding company is now a financial behemoth with assets …

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Bank NPAs : DRT Changes

Context: Union Finance Ministry has doubled pecuniary limit to Rs. 20 lakh from Rs.10 lakh for filing loan recovery application in Debt Recovery Tribunals (DRT) by banks and financial institutions. It means that bank or financial institution or consortium of banks or financial institutions cannot approach DRTs if pecuniary limit amount due is less than …

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Advance Pricing Agreement : Analysis

What is an Advance Pricing Agreement? APAs are primarily aimed at avoiding transfer pricing disputes arising from cross-border transactions undertaken by MNCs. Through these agreements, tax department and companies seek to resolve transfer pricing disputes in advance before the cross-border related party transaction actually takes place. Its provision was introduced in Income-tax Act, 1961 in …

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Generalized System of Preferences (GSP)

GSP is largest and oldest US trade preference programme introduced in 1976. It is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries both developing and developed countries. Under it, a wide range of industrial and agricultural products originating from certain developing countries are given preferential access …

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