Reading Time: 12 mins One of the most struggling sectors in the current pandemic is the logistics sector. As the sector is demanding special packages to deal with the scenario, it is pertinent to remember the government’s decision to have a new National logistics Policy as declared by the Finance Minister during the Budget speech this year. In this backdrop, it is important to study the features, status, and issues of the sector.
Reading Time: 10 mins The digital tax issue has been a source of contention between the USA and France for a while now. Meanwhile, India has gone ahead to set up a taxation framework on a transaction basis. Recently, it expanded the tax regime to include a wider range of digital activities, seeking to improve revenue inflow. This comes in times of the economic slowdown draining the coffers of the government.
Reading Time: 11 mins The rice is a staple food of not only India but over half of the world population. Over 3 billion …
Reading Time: 7 mins A major fall in the international crude oil prices prompted India to get its strategic Energy reserves filled at a low cost. Recently in a tweet, the Ministry of Petroleum and Natural Gas said that India has saved Rs. 5000 crores in foreign exchange while strengthening its energy security by filling up the strategic reserves with full capacity.
Reading Time: 4 mins Recently, the Prime Minister reviewed the plans being envisaged for implementing the Arth Ganga project and pushed concerned states to speedily implement the projects under Arth Ganga. The PM also elaborated on the importance of the project in the sustainable development model with a focus on economic activities related to the river.
Reading Time: 6 mins The COVID-19 crisis has affected businesses across India in various ways like a drop in demand, labour shortage, supply chain disruption, etc. One of the impacts of the crisis is on the firms’ ability to fulfil obligations under various contracts in India. In this context, firms are looking at the ‘Force Majeure’ clause to provide respite in times of such unforeseen crises not only in the present but also in the future.
Reading Time: 11 mins The government’s recent proposal to ban 27 pesticides in India has garnered both support and opposition from various segments of the society. It is being welcomed by several exporters (like spice exporters) and is seen as a long-pending implementation of the Anupam Verma Committee recommendations. On the other hand, pesticide manufacturers are threatening to take the government to the court over this move. This proposal is significant given the danger to farmers’ income posed by invading pests like the fall army worm and more recently, locusts.
Reading Time: 7 mins The Parliament recently passed the Mineral Laws (Amendment) Bill, 2020. The mining sector in India has been going under a face change since last year as the government took a series of actions regarding the mining sector. In the fourth tranche of the Atmanirbhar economic package, the Finance Minister spelled out reforms in the Mining sector. In this background, it is important to study the above-mentioned Bill.
Reading Time: 10 mins In March 2020, global crude oil prices decreased to about 40%. This means that a barrel of oil costs just $25 now. This came as a result of failed talks of production cut between OPEC and Russia. This led to Saudi Arabia, the largest exporter of oil, launching a price war. While many may see this as a disadvantage, for India it is an opportunity to fill up its strategic reserve. The government had decided to buy oil worth Rs.5,000 crore at the current price of around $30 per barrel for deliveries starting in April-May. However, this opportunity does not allow the Indian economy to gain full potential as it has come amid the coronavirus outbreak that has halted most of the economic activities in the country.