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POVERTY DECLINES, GDP GROWTH DRIVES CHANGE Syllabus: GS-3: ● Indian Economy ● Poverty and related issues Why in the News? The recent Household Consumption Expenditure Survey (2022–23) and National Statistical Office (NSO) estimates for 2023–24 indicate a significant reduction in poverty and consumption inequality in India. The poverty rate in India 2022 fell into single …
Read MoreWhy in the News? Supreme Court ruling: The SC overturned an NGT order (2022) and a Madras HC decision (2024) halting development in Auroville. Key issue: Lack of environmental clearance cited as a reason for stopping construction. Balancing rights: The judgment emphasized striking a “golden balance” between the right to a clean environment and the …
Read MoreWhy in the news? The Ministry of Statistics and Programme Implementation released the 2023-24 Household Consumption Expenditure Survey, highlighting reduced urban-rural consumption gaps, declining Gini coefficients, and improved economic well-being across India, reflecting increased economic inclusivity and balanced development. Urban-Rural Consumption Gap: The urban-rural consumption disparity has declined across major states, indicating balanced economic growth. …
Read MoreSyllabus: GS 2: India and neighbourhood relations Effect of policies and politics of regional countries. Why in the News? Prime Minister Narendra Modi’s historic visit to Kuwait marks the first by an Indian Prime Minister in over four decades, reflecting India’s intention to strengthen its ties with the Gulf region, a critical area for its …
Read MoreWhy in the News? The Finance Ministry calls upon private sector banks to increase lending through schemes like PM SVANidhi and PM Vishwakarma, targeting job creation for artisans and street vendors. Secretary Vivek Joshi leads a review meeting with bank executives to assess the progress of these inclusive initiatives. Source: Samhita About Financial Inclusion Schemes: …
Read MoreWhy in the news? The Indian government is in discussions with the private sector to overhaul the IT/ITeS policy. Aim Increase the IT sector’s contribution to India’s GDP and boost exports. Despite a projected GDP share of 7% in FY24, the software industry’s growth fell short of expectations. source:wordpress About IT Rules 2021: IT Rules …
Read MoreAsian Development Bank (ADB) Establishment and Headquarters Founded on December 19, 1966, and headquartered in Manila, Philippines. Multilateral development bank promoting social development, sustainable economic growth, and regional integration in Asia and the Pacific. Membership and Leadership A total of 68 member countries, including 49 from Asia-Pacific and non-regional developed countries. Japan, the US, China, …
Read MoreAfter World War II, there was a pressing need among powerful nations for a more unified global financial order. The establishment of the United Nations Organization (UNO) signified hopes for a more stable world order. To address these concerns, representatives from the USA, the UK, and 42 other nations convened at Bretton Woods, New Hampshire, …
Read MoreSyllabus: GS 3: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Inclusive Growth Focus: The article scrutinizes contrasting perspectives on India’s economic recovery post-pandemic, emphasizing data reliability, structural reforms, and policy implications amid debates surrounding growth sustainability and the role of counter-cyclical measures. Source: Forbes Continued Robust Growth Amid …
Read MoreIntroduction Inclusive growth is a concept that emphasizes fair distribution of resources, ensuring that all segments of society benefit. The World Bank views it as a balance between the rate and structure of growth, while the UNDP sees it as a process where everyone participates and gains equally. The OECD defines it as economic growth …
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