Introduction The Goods and Services Tax (GST), implemented on 1st July 2017, marked a historic reform in India’s indirect taxation system. It replaced multiple taxes levied by the central and state governments, creating a unified tax structure. GST is a destination-based tax levied on the supply of goods and services, designed to simplify compliance, reduce…
Introduction India, the world’s fifth-largest economy, has embarked on an ambitious journey to become a $5 trillion economy by the mid-2020s. This goal, set by the Government of India, reflects the nation’s aspiration to accelerate economic growth, enhance global competitiveness, and improve living standards for its citizens. Achieving this target requires sustained efforts across multiple…
Introduction The Indian stock market has undergone a remarkable transformation since the country’s economic liberalization in 1991. Prior to this, the Indian financial markets were highly regulated, with significant government control over key sectors of the economy. The liberalization process marked a shift towards market-driven policies, fostering greater competition, foreign investment, and economic integration with…
Introduction India, one of the world’s fastest-growing economies, is working extensively to upgrade its industrial infrastructure and manufacturing ecosystem.Among the major initiatives driving this effort is the National Industrial Corridor Development Programme (NICDP) — a flagship programme aimed at developing world-class industrial nodes and corridors across the country. The NICDP is a strategic approach by…
The Finance Commission of India plays a crucial role in ensuring equitable distribution of financial resources between the central government and the states. Established under Article 280 of the Indian Constitution, the Finance Commission’s primary responsibility is to recommend the distribution of the net proceeds of taxes between the Union and the States, as well…