GST WAS LAUNCHED ON JULY 1, 2017 with the promise that it would transform the Indian economy. It was characterized as a second freedom since it would unify the nation. Eight years later, it is time to assess its performance. While the Prime Minister has lauded the tax, the Leader of Opposition in the Lok Sabha Rahul Gandhi, has criticised it since it marginalises the marginals.
Higher Education Financing Agency was conceived in India's 2016-17 union budget to provide financial assistance for the creation of capital assets in premier educational institutions in India.
Tax deducted at source (TDS), is a tax collection mechanism utilised by the Government of India for the collection of revenue at the very source of income. TDS is a form of indirect tax that ensures a regular revenue source for the government, advances tax collection, prevents tax evasion, and widens the tax base.
Bharat trade net, announced during the Union Budget 2025-26, is intended to help exporters, especially MSME’s through reduction in procedural hurdles, improving documentation processing and minimization of compliance delays.
The Ministry of Commerce and Industry was established under the Government of India to boost, regulate, and monitor the trade of goods and services domestically and internationally, inducing economic growth by developing industries, collaborating with the world for trade partnerships, and fostering commercial relationships.
The Alternate Investment Funds (AIFs) structure, especially via the Fund of Funds for Startups (FFS), has become a driving force in fostering India's startup environment. It has effectively gathered substantial local capital, aided more than 1,000 startups, and played a role in job creation as well as regional economic growth.
The concept of Purvodaya was first introduced by the Prime Minister Narendra Modi in 2015 during the inauguration of an Indian Oil Corporation refinery in Paradip, Odisha. The initiative stepped up in Union Budget 2024-25 with Finance Minister Nirmala Sitaraman allocating significant funds for infrastructure, industrial and skill development programs in the region. This policy aims to position India as a global economic powerhouse by leveraging the potential of all regions under the broader vision of Viksit Bharat 2047.