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  1. Asked: April 4, 2025In: , , , , , ,

    What is the primary objective of the Goods and Services Tax (GST)?

    Gulafrin Rizwan
    Gulafrin Rizwan Professional

    The primary objective of the Goods and Services Tax (GST) is to create a unified and simplified indirect tax structure across India by replacing multiple state and central taxes with a single comprehensive tax. This aims to eliminate the cascading effect of taxes (tax on tax), thereby reducing the oRead more

    The primary objective of the Goods and Services Tax (GST) is to create a unified and simplified indirect tax structure across India by replacing multiple state and central taxes with a single comprehensive tax. This aims to eliminate the cascading effect of taxes (tax on tax), thereby reducing the overall tax burden on consumers and businesses. GST promotes the concept of “One Nation, One Tax, One Market,” facilitating seamless movement of goods and services across state borders and fostering a common national market. It enhances tax compliance, broadens the tax base, and increases transparency in the taxation system through its technology-driven administration. Ultimately, GST seeks to boost the country’s economic efficiency, improve ease of doing business, and contribute to higher revenue generation for both the Centre and the States.

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  2. Asked: April 3, 2025In: , , ,

    Which current affairs topics are crucial for UPSC, Banking, and SSC exams?

    Gulafrin Rizwan
    Gulafrin Rizwan Professional

    Staying updated with current affairs is essential for aspirants of UPSC, Banking, and SSC exams, as these topics form a significant portion of the general awareness sections. Government Policies and Initiatives: Recent schemes and policy changes, such as the Union Budget 2025-26, which introduced siRead more

    Staying updated with current affairs is essential for aspirants of UPSC, Banking, and SSC exams, as these topics form a significant portion of the general awareness sections.

    • Government Policies and Initiatives: Recent schemes and policy changes, such as the Union Budget 2025-26, which introduced significant reforms including zero income tax for individuals earning up to ₹12 lakh under the new tax regime, and the launch of the Prime Minister Dhan-Dhaanya Krishi Yojana to bolster the agricultural sector.
    • Economic Developments: Updates on banking regulations, financial stability reviews, and economic reforms. For instance, the Reserve Bank of India’s consideration to reintroduce fixed daily funding to manage liquidity fluctuations.
    • International Relations: India’s engagements in global forums, trade agreements, and diplomatic appointments that impact international ties. Notably, India’s participation in Exercise INIOCHOS-25, a biennial multinational air exercise hosted by the Hellenic Air Force in Greece, aiming to enhance international cooperation among air forces.
    • Science and Technology: Advancements in digital banking, cybersecurity threats, and the integration of artificial intelligence in financial services. For example, SpaceX’s Fram2 mission aims to conduct a series of scientific experiments, including the first X-ray in space and cultivating mushrooms in microgravity.
    • Environmental Issues: Policies on climate change, sustainable development goals, and environmental conservation efforts. The “Levels and Trends in Child Mortality” report released by the United Nations Inter-agency Group for Child Mortality Estimation (UNIGME) provides critical insights into child mortality rates globally.
    • Appointments and Awards: Notable national and international appointments, recognitions, and honors that hold significance in various fields. For instance, Group Captain Shubhanshu Shukla was announced as the pilot for the upcoming Axiom-4 mission to the International Space Station, making him the first Indian astronaut to visit the ISS.
    • Sports and Culture: Major sports events, cultural festivals, and related developments that are of national and international importance. The Sarhul festival, marking a cultural event for Adivasis in Jharkhand and the Chhotanagpur region, represents a deep connection to nature and the cycle of seasons.

    Regularly following these topics through reputable sources will enhance your preparation and performance in these competitive exams.

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