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DAILY NEWS ANALYSIS
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23 July, 2022
7 Min Read
WINDFALL TAX
The Indian government has cut the recently imposed cesses and levies on diesel and aviation turbine fuel (ATF) and removed the cess on exports of petrol due to softening in crude oil prices, amid fears of a global recession.
About windfall tax
A Windfall tax is imposed by a government against certain industries when they experience above-average profits due to economic conditions.
India imposed windfall taxes on 1 July, following the super normal profits of energy companies.
Reduction in taxes
Aim:
It mainly aimed at increasing local supplies and boosting its revenues.
Significance
Why did the Government Increase the Duties Earlier?
Source: The Indian Express
06 Feb, 24
Recently, Prime Minister announced Pradhan Mantri Suryodaya Yojana under which 1 crore households will get rooftop solar power systems. India’s Status of Current Solar Capacity India currently stands at 4th place globally in solar power capacity. As per Ministry of New an
06 Feb, 24
The Foreign Contribution Regulation Act, 2010 (FCRA) registration of two prominent non-governmental organisations (NGOs) — Centre for Policy Research (CPR) and World Vision India (WVI) have been cancelled this month. What is FCRA? Key provisions of FCRA, 2010 Key aspects Description
06 Feb, 24
Voice clone fraud has been on the rise in India. AI voice cloning – It is the process of creating a synthetic replica of a person’s voice through machine learning and speech synthesis technology.It is called as voice deepfakesor audio deepfakes. Objective – To achieve a high level of na
06 Feb, 24
Steps taken by India to promote Science Communication Publications and Information Directorate (PID) - An organisation under Council of Science and Industrial Research (CSIR) established in 1951 for publishing and disseminating scientific information in India. National science magazines- The PI
05 Feb, 24
Universal Basic Income (UBI) can strengthen welfare architecture and unlock the nation’s latent demographic potential. UBI - It is an income support mechanism typically intended to reach all or a very large portion of the population regardless of their earnings or employment status. Objective- To provide enough to co
06 Feb,2024
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