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Why 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? The prices of vegetarian and non-vegetarian food plates have surged, reaching six and seven-month highs in June, respectively. CRISIL’s food cost tracker highlights significant inflation in key ingredients such as tomato, onion, potato, rice, and pulses, with official food inflation at 8.7% in May. Source: Forbes Key Developments The average cost …
Read MoreWhy in the news? India’s current account showed a surplus in Q4 of 2023-24, marking the first surplus in 11 quarters. Movements in the current account are significant as they affect the rupee’s exchange rate, India’s sovereign ratings, and overall economic health. Source: Textbook What is Balance of Payments? Definition: The Balance of Payments (BoP) …
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 …
Read MoreWhy in the news? CRISIL projects a revenue growth of 8%-10% for India’s top 18 States in 2024-25. Growth driven by higher GST collections and central tax devolutions, accounting for 50% of State revenues. source:quora About Goods and Services Tax (GST): GST was introduced through the 101st Constitution Amendment Act, 2016. The GST has subsumed …
Read MoreSyllabus: GS 2: Banking sector in India. Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Industrial Growth. Focus: The resurgence of discussions around Non-Performing Assets (NPAs) and bad banks stems from ongoing efforts to stabilize India’s banking sector. With a focus on resolving NPAs and easing bank balance sheets, …
Read MoreWhy in the news? The Reserve Bank of India (RBI) has suggested changes to regulations governing export and import transactions. This move aims to enhance the ease of doing business and enable banks to better serve their foreign exchange customers. Source: ResearchGate Proposed Regulations RBI issued the “Regulation of Foreign Trade under Foreign Exchange Management …
Read MoreWhy in the news? The Ministry of Mines is developing a Production Linked Incentive (PLI) scheme to enhance the recycling of critical minerals in India. This initiative aims to stimulate domestic supply chains and address the lackluster response to recent auctions of critical mineral source: BS Key Points : The PLI scheme targets e-waste recycling …
Read MoreSyllabus: GS-3- GDP growth rate , economic and overall development , Monetary policy and Credit growth , Bond market Focus: This article explores the implications of the inclusion of Indian government bonds in the JP Morgan Bond Index. It discusses the potential benefits, including increased foreign investment, enhanced market liquidity, and lower yields. It also …
Read MoreSyllabus: GS-3- GDP growth rate , economic and overall development , GST, GST Council Focus : The article focuses on the transformative impact of GST on India’s tax landscape, its achievements, unique credentials, and the critical need for further policy reforms to address existing challenges and support India’s economic growth and development. Source – FE …
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