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Why in the News? The Indian government released revised GDP estimates, significantly raising past growth figures. The FY24 GDP was revised from 8.2% to 9.2%, indicating stronger private consumption demand. These sharp revisions impact economic analysis and raise credibility concerns. Why Does the Government Revise GDP Estimates? GDP estimates are initially based on limited data …
Read MoreWhy in the news? The era of incremental progress in AI is over — a new phase of rapid innovation and disruption has begun. Nations are now aggressively competing to dominate the global AI ecosystem, turning AI into a key battleground for technological and geopolitical supremacy. The past six weeks have upended conventional beliefs about …
Read MoreSyllabus: GS-2: International Treaties & Agreements, Government Policies & Interventions GS-3: Inclusive Growth, Government Policies & Interventions, Effect of Policies & Politics of Countries on India’s Interests Focus: US President Donald Trump has proposed reciprocal tariffs, ensuring the US imposes the same tariffs on imports as other countries impose on US exports. This challenges existing …
Read MoreSyllabus: GS-3: Mobilization of Resources , Fiscal Policy Focus: The Income-tax Bill, 2025, introduced in the Lok Sabha, aims to replace the Income-tax Act, 1961, by removing outdated provisions, simplifying tax laws, and reducing litigation. It introduces clear tabular formats, eliminates redundant sections, and replaces the ‘Assessment Year’ with ‘Tax Year’, ensuring a more transparent …
Read MoreKarnataka’s Industrial Policy for 2025-30 outlines a comprehensive strategy to position the state as a leader in high-tech manufacturing and sustainable economic development. The policy aims to attract investments totaling ₹7.5 lakh crore and generate 20 lakh jobs over the next five years. Key Objectives: Investment and Employment: The policy targets ₹7.5 lakh crore in …
Read MoreWhy in the news? The Kashmir hand-knotted carpet, a centuries-old craft, received a new GI logo from the Geographical Indications Registry, Chennai, to ensure authenticity, protect artisans from imitations, and boost global recognition and exports. Preserving a Timeless Craft: The Kashmir hand-knotted carpet, renowned for its intricate designs and superior craftsmanship, now has a new …
Read MoreWhat is the Gig Economy? The gig economy refers to a labor market characterized by short-term, flexible jobs, often facilitated by digital platforms. These jobs are typically on-demand and freelance-based, rather than traditional full-time employment. Workers in this sector include ride-hailing drivers, food delivery personnel, online tutors, graphic designers, content creators, and IT consultants. Unlike …
Read MoreWhy in the news? The Union Budget for 2025-26 focuses on growth with increased capital expenditure, but concerns arise over falling tax revenues, AI infrastructure needs, and a shift from fiscal deficit to debt-GDP ratio, reducing transparency. Union Budget 2025-26: Key Takeaways Positive Aspects: GDP Growth Projections: Nominal GDP growth for 2025-26 is estimated at …
Read MoreWhy in the news? The upcoming Union Budget for FY2025-26 highlights newly launched schemes with significant funding and others with reduced allocations. Key sectors like AI, renewable energy, and electric mobility are expected to receive substantial financial support in the budget. Recently Launched Schemes (2024-25 Allocations): Solar Rooftop Installation Scheme: ₹6,250 crore for promoting solar …
Read MoreSyllabus: GS-3: Growth & Development , Fiscal Policy Focus: The Indian government faces an economic slowdown, with private consumption and investment stagnating despite efforts like capital expenditure. The upcoming 2025 Budget is seen as a crucial opportunity to shift fiscal priorities toward social welfare and employment generation to stimulate economic recovery. Understanding the Growth Decline: …
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