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Sri Lanka Crisis: How Country’s Balance Of Payments Problem Played A Major Role In Toppling Its Economy

Pooja YadavMay 12, 20220

Sri Lanka has been in the news such a lot lately that its current woes are the things of popular knowledge. Everyone can see the intense deprivation caused to its people thanks to the absence of their staple food at an inexpensive price within the market and therefore the shortage of petrol at the pump. Those with even a modicum of data on economics can trace it back to the dwindling interchange reserves which are needed not only to import food but also to service external debt. The Sri Lankan economy has been facing a crisis due to a heavy Balance of Payments (BoP) problem. Its exchange reserves are depleting rapidly and it's becoming increasingly difficult for the country to import essential consumer goods. The current Sri Lankan financial condition is the product of ...

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ArticleFinanceIndia

How Direct Benefit Transfers Can A solution To Problems Of Subsidies?

Pooja YadavMay 12, 20220

Though one of the benefits of subsidies is that the greater supply of products, a shortage of supply also can occur. this is often because lowered prices can cause a sudden rise in demand that several producers may find very hard to satisfy. Ultimately, it can result in very high demand which causes a rise in prices. Subsidies are usually effective and helpful. However, if the govt. were to form a report of its success in using subsidies, it might be a distinct story. this is often because it's hard to quantify the success of subsidies. How will the govt raise funds to use for subsidizing industries? after all, by imposing higher taxes. So, it's the final population and corporations who provide the means to enable the govt to subsidize industries. Given above are only few samp...

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Economy May Take 12 Years To Recover From Loss Due To COVID-19: RBI Report

Gunjan ChaudharyApril 30, 20220

According to a report released by the Reserve Bank of India (RBI) on Friday i.e. 29th April, the Indian economy is likely to take more than 12 years to recover from the damage of Covid-19. In the report by RBI on 'Money and Finance for the Year 2021-22', the RBI said that the structural changes brought about by the pandemic could potentially change the growth outlook in the medium term. The report issued even said that continued thrust on capital expenditure by the government, promotion of digitization, e-commerce, start-ups, renewables and supply chain logistics can contribute to the growing opportunities for new investments. RBI further said in the report that the pre-Covid situation growth rate would have been 6.6 per cent (CAGR for 2012-13 to 2019-20) and it would have been up...

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ArticleFinanceIndia

Ukraine Crisis: Inflation, Interest Rates Likely To Increase Debt By Rs 60 Thousand Crore, Says Report

Gunjan ChaudharyApril 26, 20220

The size of risky loans is expected to increase by Rs 60,000 crore in the current financial year due to factors such as high inflation due to the Russia-Ukraine war,  the rating agency India Ratings gave this warning in a report on Monday. According to the report, due to these problems facing the economy, by the end of the financial year 2022-23, the amount of risky debt will be Rs 6.9 lakh crore. Had the Russia-Ukraine war not broken out, the debt-to-risk ratio in the current financial year would have remained at Rs 6.3 lakh crore. By risky debt, the rating agency means more than five times the debt taken by the rating agency keeping in view the operating profit of the companies. The rating agency has given this estimate on the basis of an analysis of 1,385 companies. In such...

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DSA To Scan Internet’s Big Social Giants, Curb Digitally Illegal Content: EU

Sonia SolankiApril 25, 20220

The EU (European Union) has come up with Digital Services Act under which the government will govern the internet. So, the aim is to curb the illegal content and any disinformation on multiple big giants like Facebook, Twitter, Google etc. The officials from the European parliament, the French presidency of the council of the EU and the Commission, all agreed to the new rules. These new rules will be applicable to internet techs and giants. "The Digital Services Act (DSA) is a major milestone," said Commissioner Thierry Breton. He also says that in the last 20 years Europe for the first time is tackling the issue of the digital and information areas. How DSA Will Help In Filtering Internet? One of the main highlights that DSA talks about is the illegal and illicit content l...

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‘Avoid Provocative And Scandalous Language’: I&B Ministry Issues Advisory To Private TV Channels

Sonia SolankiApril 25, 20220

The I&B Ministry under the Centre Government has written an advisory to the private TV channels not to use any provocative language. As seen over the last few months the private news channels in the rat race of TRPs are manipulating and using altered information for their personal benefits. This kind of false and fabricated information can lead to a sense of social and communal disharmony. Advisory For News Channels This advisory comes soon after the rising social and communal tension post the recent riots of Delhi in Jahangirpuri. Along with this the Ukraine -Russia war news coverage are claiming the onset of Nuclear war soon. According to the ministry such news hampers with the overall development of society. As it can create a state of panic and fear among the common man...

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ArticleBusinessFinanceIndia

Centre Reduces The Custom Duties On Cotton; How Can It Reform Its Industry In India?

Pooja YadavApril 23, 20220

To reduce the cotton prices, the Indian government has decided to exempt all customs duties and other unnecessary duties on the imports of cotton. This exemption was announced by the government is going to be benefiting the textile chain- fabric, yarn, made-ups, and garments furthermore provide relief to the consumers and therefore the textile industry. The removal of 5% Agriculture Infrastructure and Development Cess (AIDC) and 5% Basic tariff (BCD) on raw cotton has been demanded by the industry. The exemption of the Agriculture Infrastructure development Cess and custom for import of cotton has been notified by the Central Board of Indirect Taxes and Customs (CBIC). From 14th April 2022, this notification has to get effected and till 30th September 2022, it'll remain effectiv

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ArticleCOVID-19Finance

Importance Of Crucial Changes In Tax Policies In Post-Covid Era; Read On

Pooja YadavApril 15, 20220

In the wake of the unprecedented COVID-19 crisis, tax systems should be reformed, and tax avoidance and evasion reduced, to confirm an economic recovery within which everyone pays their share, says the International money (IMF). Taxes get hold of many of the items that are fundamental to functioning societies across the globe, like schools, health care, and social services. Money raised through taxation is crucial to making sure that these services are maintained during the COVID-19 crisis. But, when businesses finish off, and millions lose their jobs, as went on during this crisis, tax income plummets. In the short term, governments have put together stimulus packages, and a good array of measures to assist businesses and citizens retreat to their feet. The IMF is tracking these eff...

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Elon Musk Offers To Buy Twitter For $41 billion; Will Pay This Much For Every Share

Gunjan ChaudharyApril 14, 20220

Billionaire businessman Elon Musk, the founder of electric car company Tesla, created a stir on Thursday by making a big offer. In fact, after recently buying a 9.2% stake in Twitter, now the world's richest person has offered to buy Twitter. For this, he has said to pay $ 41.39 billion (Rs 3.2 lakh crore) in cash. Will Pay $54.20 Per Share According to a report, under this offer to buy Twitter, Elon Musk is ready to pay $ 54.20 for every share of Twitter. The 50-year-old Elon Musk has given information about this proposal in a filing with the US Securities and Exchange Commission on Thursday, the report said. After this announcement, Twitter's shares jumped up to 3.10 percent on Wednesday and closed at $ 45.85. Twitter Has Extraordinary Potential Let us tell you that after rece

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ArticleFinance

Is Tax Avoidances Legal In India? Lets Check Out

Pooja YadavApril 14, 20220

The tax could be a source of revenue for a government of a rustic, through which it endeavours to produce better infrastructure, the standard of living and security for its inhabitants. However, these taxes can sometimes be available in the way of personal development of people or an organization and further push these individuals and huge business houses to contemplate the way to avoid the identical by using loopholes within the laws and guidelines that govern the taxes. Indian government has always been proactive in closing and fixing loopholes within the tax laws and its structure through budget, amendments, guidelines and treaties with various countries. However, government during this regard is usually two steps behind the big business houses in India According to a paper...

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ArticleFinanceInternational

Reasons Leading To Tax Avoidances Amid COVID-19; Check Out

Pooja YadavApril 13, 20220

COVID-19 has already infected variant people and claimed nearly half 1,000,000 lives. The sudden halts in economic activity and employment are far worse than anything on record, comprehensive and speed. The economies of developing countries are being harmed by drastic but very necessary measures to safeguard people’s health, and by cross-border disruptions in supply chains, tourism, remittances and commodity prices. The poorest and most vulnerable segments of the population are always affected disproportionally during economic downturns. this can be compounded during the present crisis because the poor have fewer options to safeguard their health and suffer more from disruptions to public services. Recovery won't be quick, and therefore the future will differ in important ways...

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How Scaling Up The ORGANIC FARMING Led To The Financial Disaster In SRI LANKA??

Sonia SolankiApril 11, 20220

organic farming may sound like a solid idea regarding an environment-friendly solution in the food and health industry. But this same thing led to a huge disaster in the economy of Sri Lanka says the experts. Organic farming is so much in vogue these days as the environmentalists are backing the idea of food free of chemicals and fertilizers. But the reality is that it's now impossible to switch to Organic farming in a go. As we clearly see the most recent example of Sri Lanka which followed this policy. Today, Sri Lanka is facing its worst crisis ever in terms of economic, social, and political matters. Lessons To Be Learned From Lanka's Failure : According to Ted Nordhans, organic farming is a practical approach when we talk about agriculture activities with respect to climate a...

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