India is the world's largest democratic country. Our Indian constitution was adopted on January 26, 1950, after nearly 200 years of colonial rule, countless freedom struggles, the Indian national movement, sectarian violence, and a historic legacy. The Constitution defines the duties and responsibilities of the three branches of government: the judiciary, legislative and executive. The Indian Constitution has several important articles that define a person's fundamental rights, political rules, procedures, and duties. Hence, this article will help us in learning about all of the important articles of the Indian Constitution.
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The Indian Revenue Service (IRS) is the administrative revenue Group A civil service in the Government of India. IRS serves the country by carrying out one of the main sovereign functions, i.e. revenue collection for development, security and governance. It functions under the Ministry of Finance's Revenue Department and is administered by the Revenue Secretary and the Ministerial Command.
The IRS has two branches, Indian Revenue Service for (Income Tax) and Indian Revenue Service for (Custom & Indirect Taxes). These are governed by two bodies Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC). ...
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The term "helicopter money" was first coined by Milton Friedman in 1969. Helicopter money is a form of unconventional monetary policy under which central banks would distribute money to citizens. It is similar to but is a slightly different idea of basic income.
Helicopter money has a narrow purpose: to stimulate economic activity by boosting people’s incomes under specific circumstances, that is, when the economy is under threat of deflation due to recession.
In 2020, the US legislative system debated issuing two times a $1,000 check to each eligible adult citizen, described by media as 'Helicopter Money', as...
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Why is there such unprecedented thrust to the private sector in the space sector?
For some decades now, the private sector in India is involved in space sector development. Many components making up a large part of the manufacturing and fabrication of rockets and satellites already are in the hands of the private sector, including research institutions. But the need to increase their role and make them into a strategic partner is acute.
Indian Space Research Organisation (ISRO) needs to focus on research and development while leaving the rest to the private sector.
Keeping this in ...
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Art.61deals with the Presidential impeachment and it is clearly and categorically titled “Impeachment”. But the Article also uses the word removal. Therefore, there is a need for closer analysis.
It is important to understand what impeachment means. Commonly, it is used synonymously with removal from office. However, the actual meaning is different. Impeachment is the process by which either House of Parliament levels charges against a Constitutional authority. Such a legislative move does not remove the authority from office. It sets in motion investigation by the other House or any other agency. If the charges are upheld and the other House passes a motion for...
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June 2020 is historic for India as the foreign exchange reserves with the reserve bank of India went past the mark of 500 billion US dollars. It is one hundred times the amount RBI held forty years back when India suffered the worst sovereign debt crisis.
What is meant by forex reserves?
They are made up of
Foreign currencies like US dollar
Gold
Special Drawing Rights of the International Monetary Fund
Certain amount of foreign currency held with the IMF as a security deposit called reserve tranche
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India’s Science Technology and Innovation Policy 2020 is under preparation. Wide consultations are taking place with all the stakeholders. There is an urgent need to develop 5G, nano sciences, internet of things, fourth industrial revolution technologies, life sciences and gene editing and so on to be a world leader.
Economic Survey 2018 has a chapter on How India can become a global science & technology leader. It talks about the need to gradually move from being a net consumer of knowledge to becoming a net producer.
Union Budget 2020-21 set up a national mission on “Quantum Supremacy” with an Rs 8,000-crore budget.
In t...
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Are defections in news again?
In the run up to the Rajya Sabha elections late in June 2020, defections are taking place as a part of political rivalry.
In March 2020, government in Madhya Pradesh fell due to defections. Earlier it happened in Karnataka, Goa and Manipur. It gives the impression that there is no need to contest election and post-election management is enough.
Defections create instability; indicate corruption at the highest places; institutionalize immorality; and let down the electorate by betraying representative faith and responsibility. It is not a recent phenomenon.
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