An attempt to make economics easy to understand
In India, the Drawback Duty is a crucial component of the Duty Drawback Scheme, aimed at supporting exporters by refunding customs duties, central excise duties, and any additional duties paid on inputs used for manufacturing exported goods. This scheme is designed to enhance the competitiveness of Indian exports by lowering production costs and promoting international … Read more
This is a series of conversation between two Economists, Akhilesh Verma and myself, Garima Dhir as we try to unravel and simplify various concepts of economics. In the previous post, we had discussed how the economy and formal markets came into being. In this post, we are going to take the story of the economy … Read more
What are Global Value Chains (GVCs)? In this interconnected world, trade is now driven by multinationals operating in different countries. This is what forms the basis of Global Value Chains (GVCs). GVCs refer to interlinked production processes wherein stages of production are off-shored to other countries, that are able to undertake that particular task in … Read more
In her speech, India’s Finance Minister (FM), Ms. Nirmala Sitharaman, highlighted that Budget FY22 is unique as it follows a global contraction caused due to Covid-19. To pull the country out of a slowdown, several noteworthy instruments have been laid out in the six pillars of the Budget, along with certain taxation measures. While there … Read more