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India to Remain Fastest-Growing Major Economy: UN Why in the News ? The UN’s World Economic Situation and Prospects (WESP) mid-year update projects India’s GDP growth at 6.3% in FY 2025, outpacing China, the US, and the EU, driven by household spending, public investments, and services exports. About India’s Growth Outlook and Key Drivers: India’s …
Read MoreWhy in the News ? The Indian Ports Bill 2025 was introduced in Lok Sabha to amend the 117-year-old Indian Ports Act, 1908. It aims to modernize port governance, ensure environmental protection, and incorporate international standards while considering state concerns. Objectives of the Indian Ports Bill 2025 : The Indian Ports Bill 2025 was introduced …
Read MoreWhy in News? The Lok Sabha passed the Carriage of Goods by Sea Bill, 2024, replacing the 1925 Act to modernize maritime regulations. The Bill simplifies laws, aligns with international standards, and promotes ease of doing business in shipping. About the Purpose and Key Features of the Bill: Lok Sabha passed the Carriage of Goods …
Read MoreWhy in the news? India’s wheat and onion production is rising, yet export duties and stock limits hinder farmers. Removing these restrictions will prevent price crashes, ensure stable markets, and boost agricultural growth, fostering a more market-driven and resilient farming sector. About Current Agricultural Scenario: The Modi government recently lifted the export ban on broken …
Read MoreSyllabus: GS-2: Inclusive Growth , Growth & Development , Government Policies & Interventions GS-3: Conservation Focus: Recent economic data and policy discussions have highlighted concerns about India’s consumption-driven growth model. Experts emphasize the need for higher investment in infrastructure, manufacturing, and innovation to achieve long-term economic expansion, learning from China’s investment-led growth strategy. Understanding Economic …
Read MoreWhy in the news? The Reserve Bank of India is likely to reduce the repo rate by 25 bps in its upcoming meeting, responding to economic growth measures in the Union Budget and easing inflation, marking its first rate cut in five years. Impending Rate Cut: The Reserve Bank of India (RBI) is expected to …
Read MoreWhy in the news? The Economic Survey 2024-25 was tabled by Finance Minister Nirmala Sitharaman, outlining India’s steady economic growth amidst global uncertainties, with recommendations for deregulation and business-friendly reforms to boost consumption, employment, and innovation. Global Economic Concerns: The 2024-25 Economic Survey highlights the unfavorable global economic environment. Global trade and investment have slowed, …
Read MoreWhy in the news? Government cites RBI and PLFS data, claiming over 8 crore jobs created between 2017-18 and 2021-22. Contradicts Citigroup India’s report, highlighting a decline in unemployment rate and effectiveness of government policies. About Periodic Labour Force Survey (PLFS): Conducted by: National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation …
Read MoreWhy in the news? Government reopens the PLI scheme for white goods till October 12, aiming to boost industry investment. Scheme sees renewed interest; applicants allowed to switch segments, quarterly incentive payouts introduced. source:scribd About Production Linked Incentive (PLI) Scheme: Production Linked Incentive (PLI) Scheme initiated by the Government of India. Launched with Rs 1.97 …
Read MoreWhy in the news? India’s public debt is nearly 82% of GDP, but it remains sustainable due to the country’s high growth rate and the higher share of local-currency debt. The high debt levels are manageable because of the higher real or nominal GDP and the predominance of rupee-denominated debt. Debt Levels Data: States hold …
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