1. The New Definition of MSME

    The New Definition of MSME


    Let us discuss about the new definition of MSME – turnover for the definition of MSMEs

    MSMEs won't be characterized by investment anymore.

    Union Minister Nitin Gadkari said in October 2019 that the revised definition of micro, small and medium-sized enterprises may grant a unified description of all tax, investment and more.

    The changed description was to be implemented through an amendment that would further refine the Indian business scenario. Union Cabinet had approved the amendment to change the criteria for classifying MSMEs from "plant and machinery investment" to "annual turnover."

    Finance Minister Nirmala Sitharaman added the additional turnover concept alongside the expenditure on 13 May 2020.

    MSME d

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  2. Reforms in the Banking Sector India

    Reforms in the Banking Sector India


    Let us discuss about the Reforms in the Banking Sector India

    The Finance minister Nirmala Sitharaman said that foreign portfolio investor (FPI) caps on corporate bonds would be raised from the existing 9% to 15% of outstanding stocks.

    A clean, reliable and flexible financial sector is essential to achieving India’s vision of becoming a five-trillion economy over the next five years, Finance Minister Nirmala Sitharaman said Saturday.

    "The financial system should begin to grow and shift from strength to strength," she said when discussing Parliament's 2020-21 Union Budget.

    In order to access private capital, Mrs. Sitharaman suggested the selling of the IDBI Bank's government balance sheet to individual, retail and institutional investors v

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  3. US China Trade War

    US China Trade War


    US China Trade War- The world's two largest economies have been involved in a bitter trade battle.

    The dispute has led to US and China imposes tariffs on hundreds of billions of dollars worth of one another's goods.

    US President Donald Trump has long accused China for following unfair trading practices and intellectual property theft.

    There is a perception in China that America is trying to curb its rise as a global economic power.

    • The US-China trade war in charts
    • US-China trade war: 'We're all paying for this'

    There are ongoing negotiations but have been proven difficult. In January, the two sides mutually agreed and signed a preliminary deal, however, some of the

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  4. Benefits of Pradhan Mantri Matsya Sampada Yojana

    Benefits of Pradhan Mantri Matsya Sampada Yojana


    Let us discuss about the Benefits of Pradhan Mantri Matsya Sampada Yojana

    The aim of the plan is to strengthen or enhance horticulture, modernize handling and abatement agrarian waste and to utilize the potential in the fishery area. The administration proposed the Pradhan Mantri Matsya Sampada Yojana (PMMSY) in order to build a powerful fishery board structure and scan for any loopholes in the worth chain. Government has clarified that ‘Blue Revolution’ or ‘Neeli Kranti’ has a possibility of achieving the primary spot on the planet in fish creation. It incorporates MoFPI’s plans, for example, Food Parks, Food Safety and Infrastructure.

    Implementation of the Scheme

    The government has drafted a plan of spending Rs. 6000 and is required to hold speculati

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  5. Aatmanirbhar Bharat

    Aatmanirbhar Bharat


    Economic Package Aatmanirbhar Bharat: How much does it actually cost?

    Analysis by banks and investment houses reports that the fiscal cost to the government of the 'Aatmanirbhar Bharat' plan would be nearly 1% of GDP. BOOM looked at HSBC, Jefferies, SBI, Barclays and Deutsche Bank analysis findings to see that they all estimated the value of government expenditures about 1%. According to the Ministry of Finance, the total value of the kit is around 20, 97,053 Crores or approximately 10 percent of GDP. Finance Minister Nirmala Sitharaman announced the overview of the Rs 20 lakh Crore plans to the public Sunday. After the program was launched, several analysts have debated the true extent of real government funding. Recall that the umbrella program subsumes past acts by the Indian Reserve Bank and the recently launched program of 1.7 lakh Crore and certain ancillary allocations by the government.

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  6. How to pay no tax on salary above 20 lakh?

    How to pay no tax on salary above 20 lakh?


    Budget 2020 proposes to give taxpayers the option of paying taxes either as per the existing tax structure or forgo most tax exemptions and deductions to pay as per a new lower income tax rate regime. How can a salaried individual earning more than Rs 15 lakh, say Rs 20 lakh, decide if he/she should continue with the existing tax regime or opt for the new tax regime?
    Shown below is a table that gives how many total deductions and tax-exemptions a person with a total salary income of Rs 20 lakh in a financial year should claim so that the individual’s tax-liability stays the same in both tax structures.


    Existing Regime Tax p

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  7. What will be the economic scenario post COVID19?

    What will be the economic scenario post COVID19?

    What will be the economic scenario post COVID19?

    Duvvuri Subbarao, a former RBI governor, said that India may look forward to a V-shaped recovery.

    Economic recovery suggestions

    On 23 April Confederation of Indian Industry (CII), in a paper titled "A plan for economic recovery", it has outlined three measures that the government must undertake such as cash transfers to JAM account holders, a credit protection scheme for Micro, Small and Medium Enterprises (MSMEs) and creation of a special

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