Policy UpdateSivapriya Background India has the third-largest reserves of rare earth elements, accounting for 6.9 million metric tons or 7.6 percent of global reserves. But it contributes less than 1 percent of the global rare-earth mining, facing infrastructural, environmental, and…
There is much talk of the proposed simplification of India’s complex GST regime. Prime minister Narendra Modi in his Independence Day speech, said, "…The government will implement next generation GST reforms which will bring down tax burden on the common man."
Health insurance for individuals has been made exempt from Goods and Services Tax. GST has been removed from life insurance premium payments for individuals, as well. Both used to be charged GST at 18%. So, this represents major relief for individuals, this lowering of the cost of buying insurance by nearly a fifth, right? That magnitude of reduction in the cost of either life or health insurance is merely an illusion. The cost of insurance might come down somewhat, but definitely not by 18%.
According to GoI’s response to a question in Parliament, there have been 42,673 instances of input tax credit fraud, worth ₹1,66,241 cr, cumulatively over FY21 and FY25 (up to January for the last fiscal).
India and Iran have historically enjoyed cultural, economic, and historical connections. Their relations have also gained new strategic importance in the last few decades with the re-emergence of Chabahar Port as a hub for India's regional connectivity policy.
The relationship between the United States and India has entered a new era, where Artificial Intelligence (AI) and the digital economy are becoming the key drivers of cooperation. The Government of India initiated the National AI Mission in March 2024, with a budget of ₹10,300 crore. The mission aims at the development of a large-scale computing infrastructure, the development of in-country created models of Artificial Intelligence like Bharat Gen, the development of semiconductor manufacturing, and the nurturing of Artificial Intelligence talent through the IndiaAI Future Skills programme.
Pradhan Mantri Kisan Sampada Yojana (PMKSY), launched in 2017, is a central sector scheme implemented by the Ministry of Food Processing Industries (MoFPI). It aims to create a modern food processing ecosystem in India by reducing agricultural wastage and ensuring better returns for farmers.