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Introduction The concept of progress within the realm of economics has undergone significant evolution over time. Initially, the term “progress” was predominantly used to describe advancements in the economic sector. This term broadly encapsulated improvements in the economic conditions of a country or region, without much differentiation in the nuances of economic change. However, as …
Read MoreSalient Features of Indian Economy Strengths of Indian Economy Mixed Nature of Economy India’s economy is a blend of socialism and capitalism, integrating the efficiency and innovation of the private sector with the social welfare objectives of the public sector. This system has evolved significantly since the economic liberalization of the 1990s, which reduced government …
Read MoreWhy in the news? India Ratings revises FY25 GDP growth forecast to 7.1% from 6.5%, citing strong government spending and improved corporate balance sheets. About the Upgraded Growth Projection: • India Ratings and Research revised FY25 GDP growth forecast to 7.1% from 6.5%. • The upgrade is attributed to strong government capital expenditure and improved …
Read MoreSyllabus: GS-3– Import , export and related issues and solutions . Role of WTO Focus: The focus of the article is to analyze India’s merchandise export performance amidst global trade dynamics, including the impact of the COVID-19 pandemic and geopolitical conflicts. It examines the trends, challenges, and prospects of India’s exports, highlighting sector-wise performance, regional …
Read MoreWhy in the news? NCAER predicts India’s GDP growth may exceed 7% for 2024-25, citing positive monsoon forecast and global economic prospects. About the GDP Growth Forecast: NCAER predicts India’s GDP growth may exceed the Reserve Bank of India’s estimate of 7% for 2024-25. Positive factors include expectations of an above-normal monsoon, upgraded global growth …
Read MoreWhy in the news ? FIEO warns escalating geopolitical tensions could decrease global demand, impacting India’s exports; urges government support for exporters’ liquidity. source:slideserve About Impact of Geopolitical Uncertainties on Exports: FIEO, the apex exporters’ body, warns of potential repercussions on India’s exports due to escalating geopolitical tensions worldwide. The ongoing Russia-Ukraine conflict has already …
Read MoreSyllabus: GS 3: Indian Economy and issues . Taxation and Tax reforms Government Budgeting Policy Transformation Why in the News? Recent tax data revealing a surge in personal income tax collections and a decline in corporate tax revenues have sparked discussions on India’s tax system’s fairness and effectiveness. The shift towards greater reliance on personal …
Read MoreSyllabus: GS-3-Inequality in India and its impact Focus : Top of Form Income inequality in India is stark, with the top 1% owning 22.6% of national income and 40.1% of wealth in 2022-23. From 1990 to 2022, the number of very high net worth individuals rose from 1 to 162, while income tax filers increased …
Read MoreWhy in the news? RBI Deputy Governor stresses on maintaining restrictive monetary policy due to persisting inflation risks and uncertain economic conditions. About the Importance of Price Stability: RBI Deputy Governor Michael Deba- brata Patra underscores the need to restore price stability for sustaining the economy’s growth trajectory. He highlights that the current economic conditions …
Read MoreIntroduction Industries play a pivotal role in the modern economy, serving as a cornerstone for economic development, employment, and the production of goods and services. They are integral to the economic structure, contributing significantly to the Gross Domestic Product (GDP), national income, and investment. The interdependence between agriculture and industry highlights the symbiotic relationship that …
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