Socio Economic

Context (TH): At COP29, activists and experts called for holding fossil fuel-exporting nations accountable for emissions generated abroad, particularly in developing countries. This issue has gained global attention as the environmental impact of fossil fuel exports is increasingly recognized in climate negotiations. Advantages of Fossil-Fuel Exports Economic Growth: Fossil fuel …

Context: The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have signed an agreement aimed at promoting the use of local currencies—the Indian Rupee (INR) and the Maldivian Rufiyaa (MVR)—in cross-border transactions. About Cross-Border Payments (CBPs) Cross-border payments involve financial transactions where the payer and the recipient …

Context (TH) Despite a global consensus on combating climate change, fossil fuel subsidies persist as a major hurdle for governments. By making fossil fuels cheaper, these subsidies encourage their continued use, ultimately undermining global climate objectives. Global Scope of Fossil Fuel Subsidies OECD Estimates: Approximately $1.5 trillion annually (2022). IMF …

Context (TH): Private universities in India are rapidly advancing in global rankings, surpassing public institutions through deliberate internationalization strategies and a heightened emphasis on research output. Internationalization of Higher Education incorporates a global outlook into teaching, learning, and research, promoting graduates who are culturally aware and globally proficient. Key Findings …

The Silk Road was a complex network of ancient trade routes linking China in the East to the Mediterranean in the West. This extensive web of routes facilitated the exchange of goods like silk, spices, gold, and gemstones, connecting various civilizations. Zhang Qian is often recognized as the “Father of …

Context: China recently restricted the export of antimony citing ‘national security’ concerns. Antimony Overview: Antimony is a semi-metal, silvery white in color, brittle, and crystalline. It is not a good conductor of heat or electricity and has a low vaporization temperature. Though not abundant, it is found in trace amounts …

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 …

Background: The Pradhan Mantri MUDRA Yojana (PMMY) was launched in 2015 to promote entrepreneurship by providing collateral-free micro-loans up to ₹10 lakh. Recent Changes: The Union Budget 2024 increased the loan ceiling to ₹20 lakh, specifically benefiting those under the Tarun category who had previously accessed MUDRA loans. Impact: The …

The Reserve Bank of India (RBI) has permitted resident individuals to open Foreign Currency Accounts at International Financial Services Centres (IFSCs) in GIFT City, Gujarat, under the Liberalised Remittance Scheme (LRS). Details: Authorised Persons: These are entities authorised by the RBI, such as banks and designated FX dealers, to facilitate …

Despite the efforts initiated by the 11th Finance Commission, financial devolution to urban areas remains inadequate. Municipalities suffer from poor fiscal health, and rapid urbanization without sufficient fiscal measures hinders development. Financial Devolution to Urban Local Bodies (ULBs) India allocates only 0.5% of its GDP to ULBs, whereas countries like …