Category Center for the Study for Finance and Economics

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Direct Tax Vivad se Vishwas Scheme (2024): Clearing India’s Income Tax Litigation Backlog

The Direct Tax Vivad Se Vishwas Scheme, 2024 was introduced by the Finance Minister, Nirmala Sitharaman in the Union Budget 2024-25 held on 23 July 2024. The Scheme was later put into law through Chapter IV which contains Sections 88 to 99 of the Finance (No. 2) Act, 2024. The rules and forms for this scheme were issued by the Central Board of Direct Taxes on 20 September 2024, and it came into force on 1 October 2024. As per Circular No. 19 of 2024 of CBDT, the objective of this Scheme is to bring down the pendency of cases relating to income tax, faster realization of revenue for the government and providing relief to taxpayers from protracted legal process (Central Board of Direct Taxes, 2024).

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The 2026 Fiscal Framework of Credit Cards under India’s Liberalised Remittance Scheme (LRS)

Over the past decade, India’s integration with the global digital economy has driven a rapid increase in foreign currency transactions by resident individuals. From overseas education expenses and international business travel to cross-border e-commerce subscriptions, resident taxpayers rely on a multi-tiered array of foreign exchange instruments. Historically, outward remittances and foreign currency expenditures have been governed by the Reserve Bank of India’s (RBI) Liberalised Remittance Scheme (LRS), which establishes an annual permissible cap of USD 250,000 per financial year for resident individuals.

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Biopharma SHAKTI (2026): Strengthening India’s Biopharmaceutical Manufacturing

Biopharma SHAKTI (Strategy for Healthcare Advancement through Knowledge, Technology and Innovation) was proposed in the Union Budget 2026–27 to develop India as a global biopharma manufacturing hub. The initiative has an outlay of ₹10,000 crore over the next five years and aims to build an ecosystem for the domestic production of biologics and biosimilars (Government of India, 2026a). The initiative was announced as part of the Union Government’s broader focus on the healthcare sector under the three Kartavyas outlined in the Union Budget 2026–27: accelerating and sustaining economic growth, fulfilling aspirations and building the capacity of the population, and ensuring access to resources for every family, community, region and sector. Health was identified as an important component of all three priorities.

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Digitalising Retirement Security: Assessing the Role of eNPS in Expanding Pension Access Since 2015

The electronic National Pension System (eNPS) is the online platform of India’s National Pension System (NPS), developed to enable seamless digital registration, contribution, and account management. NPS itself was introduced by the Government of India initially only for Central Government employees (except armed forces) joining service on or after 1 January 2004, replacing the earlier defined-benefit pension system, and was extended to all citizens on a voluntary basis from May 2009. It is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) under the PFRDA Act, 2013 (effective 1 February 2014) (Department of Financial Services, Ministry of Finance, n.d.; PFRDA, 2025).

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Capital Deepening vs. Total Factor Productivity under the India Semiconductor Mission 2.0

The evolution of India's technology policy reached a turning point with the transition from the foundational phase of the India Semiconductor Mission (ISM 1.0) to the expanded mandate of ISM 2.0. Launched in December 2021 under the Ministry of Electronics and Information Technology (MeitY) with a capital corpus of ₹76,000 crore , the program addressed physical deficits in domestic electronics manufacturing.

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Dadra and Nagar Haveli and Daman and Diu: Department-Wise Schemes Update 2026

Dadra and Nagar Haveli and Daman and Diu (DNH&DD) is a Union Territory formed on 26 January 2020 through the merger of two erstwhile UTs, with Daman as capital. It spans three districts, Dadra & Nagar Haveli, Daman, and Diu, across 603 sq km (IBEF, 2026). As a UT without legislature, it is administered by an Administrator under the Ministry of Home Affairs (MHA), with its budget placed before Parliament as Demand No. 54 (Ministry of Finance, 2026).

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