Category Center for the Study for Finance and Economics

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GST Appellate Tribunal 2025: Resolving India’s Tax Disputes

The introduction of the Goods and Services Tax (GST) in 2017 has brought the various central and state level indirect taxes under one unified indirect tax framework. However, the proliferation of the GST regime has also led to growing tax related disputes. Such disputes lead to ambiguity for the taxpayer, as well as cause additional burden on tax administration. Hence, a specialised appellate body was required for the successful implementation of GST

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 The Insurance Laws (Amendment) Act, 2025: Will Liberalisation Translate into Wider Insurance Coverage?

Insurance plays an important role in protecting individuals and businesses from unexpected financial losses. It provides financial support during difficult situations and helps reduce the burden caused by unforeseen events. By spreading risks across a larger group, insurance not only protects people and businesses but also contributes to the stability of the economy.

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Digital Volatility vs. Credit Growth: Analyzing RBI’s Calibrated LCR Framework for Internet & Mobile Banking

Policy UpdateRashi Kothari Background & Structural Context The rapid digitization of retail payments in India—driven by UPI, 24/7 NEFT, RTGS, and mobile banking—has fundamentally reshaped consumer financial behavior (RBI, 2023; FSB, 2023). While this digital infrastructure has lowered transaction costs…

Turmeric

National Turmeric Board (2025): Institutionalising India’s Dominance in the Global Spice Trade

India produces and exports turmeric in larger quantities than any other nation; but it took several decades for this spice to have its own organization. This happened when the Ministry of Commerce & Industry set up the National Turmeric Board (NTB) on October 4, 2023, thus carving out an exclusive body to look after its cultivation, research, standards, and export from the ambit of the Spices Board’s broad agenda. This new body was launched officially in New Delhi on 14 January 2025 through the inauguration by the Union Minister Piyush Goyal and appointing Shri Palle Ganga Reddy, the son of a farmer in Nizamabad, as the Board's first Chairman. The establishment of its office took place on 29 June 2025 in Nizamabad, Telangana, through the inauguration of Union Home Minister Amit Shah and allocation of Rs 200 crore to enhance quality of crops, research, and farmers' welfare

ESG

Mainstreaming ESG in India’s Industrial Policy: Transitioning from Compliance to Strategic Growth

As India pursues its vision of becoming a $5 trillion economy while fulfilling its Net Zero commitment by 2070, integrating Environmental, Social, and Governance (ESG) principles into national industrial policy is no longer optional—it is a strategic necessity. While regulatory bodies like the Securities and Exchange Board of India (SEBI) have mandated Business Responsibility and Sustainability Reporting (BRSR), ESG adoption remains largely siloed from broader industrial initiatives, including Production Linked Incentive (PLI) schemes. This policy article examines the imperative to shift from "compliance-driven" to "strategy-driven" ESG adoption. It highlights key bottlenecks faced by Micro, Small, and Medium Enterprises (MSMEs), explores global carbon-trade pressures, and proposes a data-driven policy roadmap to embed sustainability into the core of India’s industrial framework

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PM VISHWAKARMA SCHEME  AND CREDIT INFLOWS FOR MICRO-ENTERPRISES (2023)

The structural architecture of India’s informal economy has historically been sustained by traditional artisans and craftspeople who provide foundational services across rural and semi-urban landscapes. Despite their critical contribution to cultural preservation and local self-reliance, these micro-enterprises have long remained textually and financially excluded from organized banking networks and formal credit mechanisms.

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Scaling UPI: The Economics Behind NPCI’s New Operational Limits

Although the Unified Payments Interface (UPI) has been operational for a decade, it does not exhibit the obsolescence typical of legacy infrastructure; rather, it currently faces challenges associated with rapid and unprecedented scalability. NPCI launched it in April 2016 to make bank-to-bank transfers instant and interoperable, so a payment from any bank app could reach any other bank account without the usual friction. The decision that really made it explode came later: in January 2020, the government set UPI’s Merchant Discount Rate to zero, so neither payer nor payee would ever see a fee. That single choice is arguably why the neighbourhood vegetable seller and the metro-station tea stall started accepting UPI as readily as a large retail chain.

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