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Recently, EU members have agreed to implement a minimum tax rate of 15% on big businesses in accordance with Pillar 2 of the global tax agreement framed by the Organisation for Economic Cooperation and Development (OECD) in 2021. In 2021, 136 countries including India had agreed on a plan to redistribute tax rights across jurisdictions and enforce a minimum tax rate of 15% on large multinational corporations. What is Global Minimum Tax? A Global Minimum Tax (GMT) applies a standard minimum tax rate to a defined corporate income base worldwide. The OECD developed a proposal featuring a corporate minimum tax of 15% on foreign profits of large multinationals, which would give countries new annual tax revenues of USD 150 billion. The framework of GMT aims to discourage nations from tax competition through lower tax rates that result in corporate profit shifting and tax base erosion. What are the Key Points of the Plan? Two Pillar Plan: Pillar 1: 25% of profits of the  largest and most ...

Israel clears nuclear deal with Saudi Arabia Riyadh wants a civilian atomic program but would also consider a military path, should Iran choose to take that route, the newspaper reports Israel has agreed to the idea of the US building a uranium enrichment facility in Saudi Arabia as part of a deal that would see Riyadh establish diplomatic ties with West Jerusalem, according to the Wall Street Journal. The newspaper reported that Israeli Prime Minister Benjamin Netanyahu has instructed senior nuclear and security officials to cooperate with Washington on the issue. Progress came after Netanyahu met US President Joe Biden on the sidelines of the UN General Assembly session on Wednesday, the WSJ said on Thursday, citing Israeli and American sources. Israel is widely believed to be the sole nation with a nuclear capability in the Middle East, but has never confirmed its status as such. According to officials cited by the WSJ, the country would accept Riyadh hosting a US-controlled uranium...

 Online Courses (English) What is Genetically Modified Organism (GMO)? About: A genetically modified organism (GMO) refers to an entity, whether it's an animal, plant, or microorganism, that has undergone modifications to its DNA using genetic engineering methods. Across generations, specific traits have been cultivated in crops like corn, animals like cattle, and even domestic companions like dogs through selective breeding. Yet, in recent decades, the progress of biotechnology has enabled researchers to directly manipulate the genetic makeup of microorganisms, plants, and animals. Genetic Modification: It involves altering the DNA of an organism to introduce specific traits or characteristics. There are several techniques used in genetic modification, each with its own advantages and applications. What is the Genetic Engineering Appraisal Committee (GEAC)? The Genetic Engineering Appraisal Committee (GEAC) functions in the Ministry of Environment, Forest and Climate Change (MoEF...

Unity, the cross-platform game engine that powers games like Rust, Hollow Knight, and Pokémon Go, has introduced a new, controversial fee for developers, set to take effect next year. Indie developers quickly responded to the announcement, with many suggesting the costs of this policy would kill smaller games, while confusion spread as devs wondered how it would affect their bottom line. Unity’s attempts to provide clarity have only fueled devs’ frustration and spawned more questions from those with both currently active and in-development games using the engine. The new Runtime Fee, announced in a September 12 Unity blog, is based on the number of installations a game built with the Unity engine receives, as well as the revenue it generates. Though it won’t start until January 1, 2024, the Runtime Fee will apply to any game that has reached both a previously established annual revenue threshold and a lifetime install count. Games developed with the lower-cost Unity Personal and Unity ...

  If more well-rounded numbers are taken into account, the country’s growth rate for the first quarter of 2023-’24 would come to 4.5% instead of 7.8%, he said. The National Statistical Office is “covering up the reality” by considering selective data to calculate India’s growth numbers, Princeton economist Ashoka Mody claimed on Wednesday. If more well-rounded numbers are taken into account, the country’s Gross Domestic Product growth rate for the first quarter (April-June) of the financial year 2023-’24 would come to 4.5% instead of the 7.8% announced by the government, Mody wrote in an article for Project Syndicate. On Friday, India’s Chief Economic Adviser V Anantha Nageswaran rejected his claims, saying that the government has been consistent in its method for calculating the growth numbers. “Some commentators remain adamant that they would not let evidence interfere with prior positions,” Nageswaran said in an op-ed article that was co-authored by Senior Economic Advisor Rajiv...

Failure to adapt to geopolitical changes and a lack of investment have sent the nation into decline, the newspaper report. Germany’s decades of prosperity, which propelled it to become one of the world’s biggest economies, are coming to an end, Spanish daily El Pais claimed earlier this week, citing analysts.  According to figures released by the International Monetary Fund in July, Germany is forecast to be the only major economy not to grow this year, with its GDP expected to decline by 0.3%. The German model hinges on cost competitiveness, technological leadership in industry, and geopolitical stability, and “all of them are gone,” according to journalist Wolfgang Munchau, as cited by the newspaper.  “What has now emerged is an energy price crisis, new geopolitical divisions and technological shocks that pose existential questions about the future of the model,” Munchau said, adding that the world around Germany has completely changed.  Since the early 2000s the countr...

  ISRO's Chandrayaan 3, on August 23, successfully landed on the moon's South Pole. Today we will make you meet the team behind this successful mission and also tell you about the salary and perks they enjoy.  S  Somanath, Secretary, of the Department of Space and Chairperson, was the leading man behind the success of Chandrayaan 3 along with P Veeramuthuvel, the Project Director of Chandrayaan 3, and Kalpana Kalahasti who was the deputy project director for Chandrayaan-3 mission.  As per reports, at ISRO, engineers get salaries ranging from Rs 37,400 to Rs 67,000. Senior scientists get a salary from Rs 75,000 to Rs 80,000, while ISRO's distinguished scientists get a salary of Rs 2 lakh per month.  On the other hand, outstanding scientists get Rs 1,82,000 and Engineer H gets Rs 1,44,000.Scientist/Engineer-SG gets Rs 1,31,000 and Scientist/Engineer-SF gets Rs 1,18,000.  Scientists at ISRO who are behind Chandrayaan 3's success have also studied at respectabl...

the Reserve Bank of India (RBI) released the Report of the Inter-Departmental Group on Internationalization of the Rupee. RBI took pains to ensure that people knew that “(T)he report and its recommendations reflect the views of the IDG and do not in any way reflect the official position of the Reserve Bank of India. The recommendations of the report will be examined for implementation.” Nonetheless, the report was certainly timely given the ongoing buzz about rupee invoicing with various countries, most notably, of course, Russia. Since the Ukraine invasion and resulting sanctions, many countries have recognised that they need to broaden their range of invoicing and settlement processes to protect against the risk of ever falling afoul of the Big Daddy of international finance. Thus, it was a prudent move to explore the alternatives, amongst which would be “internationalising” the rupee. The report has recognized that internationalisation is an ongoing process and, though we are still ...

Indian Matchmaking has infamously made the arranged marriage system appear twee and normal — sweeping its unsavory bits under the rug of vulnerability and humor. Meanwhile, on dating apps, many young Indians are looking for matches themselves — but only the kind their families would approve of; “arranged love,” in other words. In this pursuit, however, individuals end up filtering for caste, class, religion, and appearance markers — under the guise of modern, empowered millennials making their own choices. Meanwhile, courtesy of the plethora of content showcasing matchmaking and wedding spectacles on TV — and the Western gaze they endeavor to appeal to — the global audience has developed an obsession with arranged marriages in India. After all, they’re selling the cutesy spectacle of love, set against opulent backgrounds and glittering traditions; who doesn’t love love, right? The illusion of freedom and agency thus attached to arranged marriages today, leads to many Indians being gree...

 If it is a really innovative idea, I would recommend patenting the technology. If it is regular idea, then it is very difficult to grow beyond a point . in silicon valley, the only way to grow beyond a point is to get VC funding. It helps in 2 ways. One it provides a way to finance growth and second it provides insights into markets, eventually opening new doors to potential customers, something that makes business sustainable in long run. I would like to give you 2 examples. 1.) Snapchat. Every new feature they introduced was reported to be copied by Facebook. This meant 2 billion users that Facebook had , have no reason to make a Snapchat account as they already have all the features of Snapchat along with contacts and features of Facebook , on Facebook. What do you think chances of Snapchat are to acquire new users? 2.) Microsoft- quoting Bill Gates talking about initial investors. “The reason we got investments was not because we needed money but what we needed back then was m...