Reading Time: 7 mins In 2015, the UNGA adopted the 2030 Agenda for Sustainable Development. 193 nations, including India, are committed to the 17 Sustainable Development Goals. It broadly involves the eradication of poverty of all forms, fighting inequality and tackling climate change through inclusiveness. India has played a significant role in past years to achieve these goals and its achievement is critical for the global community as it is consists of about 17% of the world population. As per the SDG Index released by the NITI Aayog and the UN showed the nation has scored 58 – almost more the halfway mark in meeting the target set for 2030.
Reading Time: 7 mins To make India a cashless economy, during the Union Budget 2019-20, the Finance Minister had stated that 2% tax deducted at source will be levied on cash withdrawals that exceed Rs.1 crore in a year from the bank account to discourage the practice of making business payments through cash transactions. The government had also said …
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Reading Time: 5 mins PM Jan Dhan Yojana (PMJDY) has made sure that the universal access to a bank account a near reality. However, the level of utilisation of such accounts is very low, which calls for promoting financial literacy in the country as well as radically reforming the financial inclusion agenda.
Reading Time: 6 mins According to the Asia-Pacific wealth report, Japan’s richest persons have the largest wealth accumulation in the Asia-Pacific region, however, Chinese millionaires are also catching up to them. Meanwhile, Indian millionaires are adding wealth at the fastest in the region, which India can take pride in it. But the reality is that the bottom 60%, the majority of the population, owns less than 5% of the country’s wealth. This growing inequality threatens to destroy the fabric of Indian democracy.