TIT BITS
:
1. The government has constituted a panel to update
India's GDP base year from 2011-12 to 2022-23, ensuring accurate reflection of
current economic dynamics. The revision incorporates new data sources and
methodologies to enhance policy relevance and statistical accuracy.
2.
The government has abolished the windfall tax on domestic crude oil and fuel
exports, following a decline in global oil prices. This decision benefits
companies like ONGC and Reliance Industries, reducing their tax burdens.
3. Hearing a petition challenging the poll body's
decision to enhance the maximum number of voters per polling station from 1,200
to 1,500, Chief Justice of India Sanjiv Khanna told the Election Commission
that "no voter should be turned down".
4. A study by Oxford University's Saïd Business School
has lauded Prime Minister Narendra Modi's PRAGATI infrastructure monitoring
system for accelerating 340 projects worth $205 billion across the country and
bringing about economic transformation.