Economy

Context: Income inequality remains a critical global challenge, requiring comprehensive solutions. To achieve greater equity, there is a need to shift from the traditional “economies of scope and scale” to an “economy of purpose.” Key Strategies to Combat Income Inequality Implementing Progressive Taxation: Progressive tax systems are essential for redistributing …

Unemployment is defined as the condition of being without a job despite actively seeking employment and possessing the necessary qualifications, skills, and willingness to work. Types of Unemployment Frictional Unemployment: Temporary joblessness when individuals are between jobs or changing careers. Structural Unemployment: Occurs due to a mismatch between job seekers’ …

Concept The article examines critical reforms in NPS Lite aimed at including the informal sector in the National Pension Scheme. This is significant as workers in this sector typically lack access to benefits like provident funds or gratuity. National Pension System-Lite (NPS-Lite) Launched by the Pension Fund Regulatory and Development …

GS-3: Key Environmental Concerns in the Indian Himalayan Region, Recent Supreme Court Judgments Support Environmental Conservation Efforts, The Indian Himalayan Region (IHR) is widely recognized as India’s “water tower” and a vital provider of essential ecosystem goods and services. Despite this critical understanding, there remains a significant disconnect between the …

Unlocking Value in Infrastructure The NMP is a government initiative launched in the 2021-22 Union Budget to leverage private sector expertise for infrastructure development. It focuses on monetizing core government assets (roads, railways, power) through partnerships, not privatization (ownership transfer). Goals and Benefits: Generate Rs 6 lakh crore over four …

Context: The Union Cabinet recently approved the development of the Vadhavan Port, a major greenfield deep-draft port project in Maharashtra. This ambitious project, estimated to cost ₹76,200 crore, is poised to significantly enhance India’s maritime infrastructure. Project Details: Implementation: The port will be constructed by Vadhavan Port Project Limited (VPPL), …

Reserve Bank of India Surplus Transfer: A Boon or Bane? GS3 :Reserve Bank Of India (RBI), Income and Expenditure of Central Bank, RBI Surplus Transfer To Government, Sources and Uses of RBI Surplus, Significance of RBI’s Surplus Transfer The Reserve Bank of India’s (RBI) recent announcement of a record-breaking ₹2.11 …

Introduction The Indo-Pacific Economic Framework for Prosperity (IPEF) is a strategic economic initiative launched by the United States in May 2022. It aims to strengthen economic ties among member countries in the Indo-Pacific region, fostering resilience, sustainability, and shared prosperity. This framework holds significance for regional economies, including India, offering …

Introduction The National Mission on Edible Oils-Oil Palm (NMEO-OP) is a flagship initiative launched by the Government of India (GoI) in 2021 to address India’s heavy dependence on edible oil imports. This mission aims to significantly increase domestic oil palm production, a key source of edible oil, and reduce import …

Concept Green bonds have emerged as a financial instrument aimed at channeling investments into environmentally sustainable projects. As the world grapples with climate change and environmental degradation, green bonds offer a mechanism to finance initiatives that mitigate environmental impact and promote sustainability. Definition of Green Bonds: Green bonds are debt …