UPSC CURRENT AFFAIRS

As per the amendments proposed in the Finance Act, 2016, the Equalisation Levy (also known as Digital Tax) on online advertisements will not apply from April 1, 2025, onwards. 

The ISI Mark is one of the most trusted quality assurance symbols in India.

The space economy refers to the full range of activities involved in the exploration, research, development, and commercialization of space.

E-commerce, or Electronic Commerce, is the buying and selling of goods and services over the internet. 

Bio-economy refers to the knowledge-based production and utilization of biological resources, such as plants, animals, micro-organisms, and related processes, to generate sustainable goods and services. 

Angel Tax is the income tax levied on the capital raised by unlisted companies (typically startups) when they issue shares to investors at a price higher than the Fair Market Value (FMV) of the shares. 

India's startup ecosystem refers to the vibrant and dynamic network of entrepreneurs, startups, investors, incubators, accelerators, and supporting entities that drive innovation, business growth, and job creation in the country. 

A Living Wage refers to the minimum level of income necessary for a worker and their family to afford a basic but decent standard of living. 

The gig economy refers to a labour market where individuals undertake temporary, freelance, or on-demand jobs, often mediated by digital platforms such as Uber, Ola, Swiggy, Zomato, UrbanClap, Upwork, and Freelancer. 

The Insurance Regulatory and Development Authority of India (IRDAI) was established following the recommendations of the Malhotra Committee (1994), which critically examined the need for structural reforms in the insurance sector.