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While there are no shortages for now, a great deal hinges on the monsoon, especially its spatial and temporal distribution. That has implications both for the RBI's monetary policy and the government in a year leading to national elections.
Lucas will be remembered for developing the “rational expectations” approach to macroeconomics. Before the 1970s, there was little clarity on how expectations are formed. Mostly, it was thought that they were either fixed or backward-looking.
Amid rising instances of GST frauds and cases of fake invoices, these changes are expected to broaden the compliance mandate for more businesses, especially small and medium enterprises and also help boost the GST revenue collections.
Irrevocable Deregistration and Export Request Authorisation, or IDERA, empowers lessors to get their aircraft deregistered from the registry of the country where the lessee is based, repossess them, and fly them out, in cases like those of lease payment defaults.
The current price inflation in milk is mainly due to a shortage of fat. It has led dairies to hike full-cream milk prices or to cut fat content through rebranding of existing products. Also, milk does not attract GST, while fat and powder used in reconstitution does, an anomalous situation for which the consumer ultimately pays.