Indian Economy

The Finance Commission is a quasi-judicial body established by Article 280 of the Indian Constitution. Every five years or earlier if deemed necessary, it is established by the President of India. The Parliament determines the qualifications of the members of the Commission and their selection methods. Their recommendation is not …

Urbanisation refers to shifting of population from rural areas to urban areas. Urbanisation Primarily driven by Pull factor. Urbanisation gained pace Particularly after LPG Pull Factors Economic Opportunities Education Health Entertainment Skill Development Job Availability Unsustainability in Urbanisation often lead to various problems in the Society. To tackle this Problem …

The Public Distribution System (PDS) evolved as a system of management of scarcity through the distribution of food grains at affordable prices. 

The Government of India sets Minimum Support Price (MSP) for certain agricultural products. MSP is a safety net for farmers that ensures a minimum guaranteed price for their produce. MSP protects farmers from market fluctuations and ensures a fair return on their investment.  The MSP is based on a calculation of at …

Syllabus: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment Context Introduction of additional safeguards for export of Basmati rice to prevent exports of Non-Basmati white rice through mis-classification as Basmati rice. Reason To check the domestic prices and to ensure domestic food security, the …

Indian economy and issues relating to planning, mobilization, of resources, growth, development and employment. 2.India’s ageing workforce Context: An analysis of India’s workforce, sourced from Centre for Monitoring Indian Economy’s (CMIE’s) Economic Outlook data, shows that while India may be the country with the most youthful population, its workforce is rapidly ageing. …

Syllabus: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Context Tomato prices may be cooling from recent highs, but pulses could play the next spoilsport in the battle against inflation, with a below-par monsoon in August dragging down the sown area for pulses in …

Syllabus: inclusive growth & development Context Artisans need a ready market for their products, not just affordable credit PM Vishwakarma scheme It help traditional craftspeople and artisans with an economic boost An outlay of ₹13,000 crore, provides loans of up to a total of ₹3 lakh (in two tranches) at …

TOPICS COVERED: Indian economy and issues relating to planning, mobilization, of resources, growth, development and employment. Context:  Recently, the government restricted the import of laptops, tablets, all-in-one personal computers, ultra-small form factor computers and servers. Key details: The import of these products would be allowed against a valid licence for restricted imports. …

Syllabus: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment Context India needs a new economic policy urgently. It needs to be a policy that is based on clear objectives, priorities, have a strategy to achieve targets, and spell out an intelligent and transparent resource …

Syllabus: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Context The Department of Animal Husbandry and Dairying is implementing Rashtriya Gokul Mission (RGM) for development and conservation of indigenous breeds, genetic upgradation of bovine population and enhancement of milk production and productivity of bovines …

Context: National Handloom Day is observed across India on August 7 every year. The primary goal of celebrating Handloom Day is to promote handloom and to recognize the efforts as well as skills of the community of weavers engaged in the sector. National Handloom Day 2023 The National Handloom Day was first observed in …

Syllabus: Indian Economy Development & Employment Context The Great Indian Startup Boom of the last decade, led by young entrepreneurs and catalysed by the government’s Startup India movement, created an environment of entrepreneurship in India. The Startup movement is not limited to metro cities, but has successfully captured the imagination …

Resource Efficiency Circular Economy Industry Coalition (RECEIC) was recently launched on the sidelines of the fourth G-20 Environment and Climate Sustainability Working Group (ECSWG) and Environment and Climate Ministers’ meeting. Circular Economy Circular Economy aims to eliminate all forms of junk from the market. Junk refers to any inefficient utilization of resources or assets. It is …

The Ministry of Steel has written to the Finance Ministry asking it to look at the possibility of levying customs duty on Chinese stainless steel shipments coming into India. Such a duty will benefit the domestic stainless steel industry which has been badly hit by such imports and is “facing …

The latest Consumer Price Index data showing a resurgence in retail inflation proves exactly why the RBI’s monetary authorities have reiterated the need to keep the policy approach firmly tilted towards ensuring price stability. CPI-based provisional inflation With food prices becoming unmoored and spiralling up, June’s CPI-based provisional inflation reading …

SEBI floated a consultation paper mandating additional disclosure norms from high-risk foreign portfolio investors (FPIs) that have either concentrated single group exposures and/ or significant overall holdings in their India equity investment portfolio. There is a need for additional disclosures for certain types of FPIs in order to have greater investor protection, and …

India is considering cutting its import tax on solar panels by half and is seeking a rollback in goods and services taxes on the devices. The decision is aimed to make up for the shortfall in local output amid rising demand for renewable energy. Government plans to cut the import tax on solar panels from 40% …

According to Reserve Bank of India (RBI) Annual Report 2022-23, India’s growth momentum is likely to be sustained in 2023-24. Highlights of the RBI annual Report: According to RBI, in the atmosphere of easing inflationary pressures, Indian economy will be supported by: Sound macroeconomic policies Softer commodity prices A robust financial sector …

In continuation of the declining trend that has been observed since June last year, India’s exports and imports continue to shrink across many nations for most items. Details: The imports have declined more than the exports thus narrowing the trade deficit. While the decline in exports was widespread, affecting most of the major …