NEWS:GST mop-up at record high of ₹2.37 lakh crore in April

GS-3: Indian Economy — Resource Mobilization, Taxation, Fiscal Policy, Economic Growth

• GST collection for April 2025 rose to an all-time high of ₹2.37 lakh crore, marking a 12.6% YoY growth.
• Second-highest collection since GST launch in July 2017; March 2025 collection was ₹1.96 lakh crore.
• Domestic GST revenue rose 10.7% YoY to ₹1.9 lakh crore; imports contributed ₹46,913 crore (up 20.8%).
• Refunds worth ₹27,341 crore issued, leading to net GST collection of ₹2.09 lakh crore (up 9.1%).
• State GST mop-up: ₹59,372 crore; Central GST: ₹48,634 crore; IGST: ₹69,504 crore; Cess: ₹12,293 crore.

Goods and Services Tax (GST)

• The Goods and Services Tax is a form of Indirect Tax levied on most of the goods and services sold in India for domestic consumption.
• It is based on the principle of Value Added Tax (VAT) and is applicable throughout India.
• It is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.
• It has subsumed and replaced various indirect taxes that were previously levied by the central and state governments.

History and Evolution of GST in India

• In 2003, the Kelkar Task Force on Indirect Tax mentioned a comprehensive Goods and Services Tax, which is based on the principle of Value Added Tax (VAT).
• Budget Speech for the financial year 2006-07 made a proposal to introduce a National-level Goods and Services Tax by 1st April 2010.
• With an intention to do away with multiple indirect taxes and to have a ‘One Nation One Tax’ system, the Constitution (122nd Amendment) Bill was introduced in 2014.
• The Constitution (122nd Amendment) Bill was passed as the Constitution (101st Amendment) Act in 2016.
• Finally, the Goods and Services Tax was introduced and enforced across the country on 1st July 2017.

NEWS:Modi champions ‘orange economy’ at WAVES

 Economy — Creative economy, IP rights, content creation industries

• PM Modi urged global companies to “Create in India, Create for the World”, asserting that India is evolving as an “orange economy” driven by culture, creativity, and content.
• Emphasised that Indian content is gaining global acceptance, especially through subtitled entertainment.
• The WAVES Summit 2025 served as a global platform showcasing India’s creative potential in the audio-visual and entertainment sectors.
• Over 90 countries participated, including media icons like Rajinikanth and Mukesh Ambani.
• PM stressed on “responsible creativity”, balancing cultural sensitivity with innovation.

WAVES: 

• WAVES is a global summit for the media and entertainment (M&E) industry, organized by the Ministry of Information and Broadcasting.
• The summit aims to bring together industry leaders, stakeholders, and innovators to address challenges, explore prospects, and promote global trade, thereby influencing the future of the sector.
• The summit launched the “Create in India Challenge,” aimed at fostering innovation and creativity in India’s creative and media economy.

Creative Economy (Orange Economy): 

• The creative economy is a knowledge-based sector involving the creation, production, and distribution of creative goods and services.
  • It includes industries like advertising, architecture, arts, fashion, film, music, photography, publishing, R&D, and software.
• India’s creative industry is valued at USD 30 billion and employs nearly 8% of the country’s working population. In 2023, India had over 100 million content creators.

India’s Media and Entertainment (M&E): 

• India’s M&E industry, the world’s fifth-largest (1st is US), is projected to grow to USD 44.2 billion by 2028.

• India’s Position in the Creative Economy:
  • Increasing global demand for Indian cultural content — music, movies, and digital art.
  • Subtitles and translation have broadened the reach of Indian content.
  • PM highlighted India’s strength in cultural diversity and historical openness to different traditions (Parsis, Jews).

NEWS:Vizhinjam port set to boost South Asia’s maritime trade

GS-3: Infrastructure — Ports, Shipping and Waterways

• PM Narendra Modi to inaugurate Vizhinjam International Seaport, Kerala’s first deepwater transshipment terminal.
• The port features an AI-driven control room and advanced Vessel Traffic Management System (VTMS).
• Expected to significantly reduce India’s dependence on foreign ports for transshipment, especially Colombo, Singapore, and Dubai.
• Will potentially save India $200-220 million annually in revenue lost to foreign ports.

• A transshipment deepwater seaport is a port that can handle large ships that carry cargo from one place to another.
• It has a deep water channel and a large berth area for loading and unloading goods. It also allows the transfer of cargo from one ship to another at the port.

 Vizhinjam International Seaport Project

• The Vizhinjam International Transhipment Deepwater Multipurpose Seaport is an ambitious project taken up by the Government of Kerala.
  • It is designed to primarily cater to the transshipment and gateway container business with provision for a cruise terminal, liquid bulk berth and facilities for additional terminals.
• The port is currently being developed with a Public Private Partnership , with Adani Ports Private Limited with a component structured on a design, build, finance, operate, and transfer (“DBFOT”) basis.
• It is strategically situated near Thiruvananthapuram, Kerala. Its location along the southern coast of India provides easy access to international shipping routes.
  • It is positioned to compete with global transshipment hubs like Colombo, Singapore, and Dubai, reducing the cost of container movement to and from foreign destinations.
• The port boasts a natural depth of more than 18 meters, which can be further scaled up to 20 meters.
  • This depth is crucial as it enables the port to accommodate large vessels and mother ships with substantial cargo capacities.
• Initial capacity in the first phase is set at one million (twenty-foot equivalent units)TEUs, with potential for expansion to 6.2 million TEUs.

NEWS:Reviving a far-sighted but forgotten Bill mechanism

GS-2: Polity & Governance — Parliament, Legislative Procedures, Democratic Institutions

• Private Member’s Bills (PMBs) allow non-minister Members of Parliament to introduce legislation, but only 14 have become laws since independence.
• Despite a record 729 PMBs introduced in the 17th Lok Sabha, only two were discussed.
• The shrinking parliamentary time and increasing executive dominance have made PMBs a symbolic gesture rather than a substantive mechanism.

Private Members’ Bill 

• About: Private Members’ Bills are proposed by MPs who are not Ministers (i.e., not part of the government), allowing them to introduce laws or amendments on issues important to their constituencies.
• Key Features: Only non-government MPs can introduce these bills, offering a chance for independent legislative proposals.
  • MPs can also introduce resolutions to call attention to specific matters.
• Procedure:
  • Drafting and Notice: MPs draft and submit bills with at least one month’s notice.
  • Introduction: Bills are introduced in Parliament, followed by initial discussions.
  • Debate: If selected, bills are debated, typically in limited Friday afternoon sessions.
  • Decision: Bills may be withdrawn or proceed to a vote.
• Significance: These bills provide a platform for MPs to express themselves without party pressure, often on crucial or controversial matters.
  • A historical example is the bill introduced by H.V. Kamath in 1966 after the death of Prime Minister Lal Bahadur Shastri, seeking to amend the Constitution to make only Lok Sabha members eligible for the post of Prime Minister.
  • Only 14 Private Members’ Bills have been passed since independence, and none have passed since 1970.
    • The Rights of Transgender Persons Bill, 2014, became the first private member’s bill approved by the Rajya Sabha in 45 years but lapsed without reaching the Lok Sabha.

Mains Question:
“What is the significance of Vizhinjam port in enhancing India’s maritime trade competitiveness? Discuss the technological and geopolitical advantages it offers.”