Why in the news? Prime Minister Shri. Narendra Modi pays tribute to Sri Narayana Guru on the occasion of their Birth Anniversary. Sri Narayana Guru Early Life: Born in 1856 at Chempazhanthy near Thiruvananthapuram, Kerala, into the Ezhava community (considered … Continue reading →

Why in the news? Prime Minister Shri Narendra Modi pitches Vocal for Local as a path to Viksit Bharat. Vocal for Local Initiative What is it?: It is an initiative to promote local products, artisans, and MSMEs by encouraging citizens … Continue reading →

Constitutional Provisions Article 244 in Part X of the Constitution deals with special system of administration for certain areas designated as ‘scheduled areas’ and ‘tribal areas’.  Related Schedules The Fifth Schedule of the Constitution deals with the administration and control … Continue reading →

Aim Panchayati Raj focus on system of rural local self-government. Constitutional Provisions It was constitutionalised through the 73rd Constitutional Amendment Act of 1992. Committee Related to Panchayat Raj in India Ashok Mehta Committee (1977) Was appointed by the Janata government … Continue reading →

Terms Related to Taxation Cascading Effect – It is a tax on tax. It makes the tax rate much higher than the original rate. Tax Buoyancy – It measures the responsiveness of tax mobilisation to economic growth/GDP. Tax Elasticity – … Continue reading →

Benefits of GST Union Government State Overall Economy Expansion of the tax base Reduce corruption Create a unified common market Increase Compliance Bring about certainty Discourage Tax evasion Enhance Investment Poverty Reduction  Streamlining of Taxation Improve the investment scenario Boost … Continue reading →

Historical Traces First municipal corporation in India – At Madras Bombay and Calcutta Municipal corporations – In 1726 Lord Mayo’s Resolution of 1870 – on financial decentralisation visualised the development of local self-government institutions. Lord Ripon’s Resolution of 1882 – … Continue reading →

Goods and Service Tax (GST) Definition – It is a comprehensive tax levied on the manufacture, sale, and consumption of goods and services. Constitutional Backing – Introduced by the 101st Constitutional Amendment Act, on the lines of One Nation One … Continue reading →

Types of Taxes Direct Taxes A direct tax is one that is levied directly on the taxpayer and paid directly to the government by those who are subjected to it. The Central Board of Direct Taxes is responsible for levying … Continue reading →

Taxation Taxation is a term for when an authority, mostly a  government, imposes a financial obligation on its  citizens/ residents/corporations/companies etc.  It is a way of Income redistribution. Associated Terms Tax Incidence: It is the one who actually pays tax. … Continue reading →