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Why 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 …
Read MoreSyllabus: GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Focus: Early signs of crowding in of private investment, domestic demand resilient Source: THE PRINT Reasons for Decline in Private Investments Economic Policy Uncertainty: Unfavorable government policies and policy uncertainty have deterred investment, reducing private sector confidence. Inverse …
Read MoreWhy in the news? India’s escalating dependence on imported crude oil, reaching a record high in FY24, impacts economy and government initiatives. source:IE About the Increasing Reliance on Oil Imports: India’s dependence on imported crude oil reached a new peak in the fiscal year 2023-24 (FY24) due to rising demand for fuel and petroleum products …
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