Income Inequalities Hamper Sustainable Growth
Context: In the current fiscal year, the Indian economy is anticipated to achieve a 7.6 percent growth in real GDP, building upon the impressive growth rates of 9.1 percent in 2021-22 and 7.2 percent in 2022-23. This trend, coupled with the Prime Minister’s commitment to robust economic reforms during his third term, has generated optimism among […]
Global Trade Outlook & Statistics Report
Context: The World Trade Organisation has published the latest edition of the Global Trade Outlook & Statistics Report. Relevance: GS III: Indian Economy Dimensions of the Article: Global Trade Outlook & Statistics Report Overview Key Forecasts Import Trends Global GDP Growth Trade Value Resilience of Global Trade Inflation and Income Growth Risks and Uncertainties About […]
MNRE Reinstates 2021 ALMM List to Boost Local Solar Module Manufacturing
Context: In March 2024, the Ministry of New and Renewable Energy (MNRE) announced the re-implementation of its 2021 notification for the ‘Approved List of Models and Manufacturers of Solar Photovoltaic (PV) Modules’, commonly referred to as the ALMM list. This move aims to bolster local sourcing of solar modules and bolster India’s renewable manufacturing ecosystem. […]
What are Critical Minerals?
Context: Khanij Bidesh India Limited (KABIL) has signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research – Institute of Minerals and Materials Technology (CSIR-IMMT) for Technical & Knowledge cooperation for Critical Minerals. Relevance: GS III- Indian Economy Dimensions of the Article: What are Critical Minerals? Why is this resource critical? […]
RBI Monetary Policy Update
Context: The recent Monetary Policy Committee meeting of the RBI Friday kept the repo rate unchanged for the seventh consecutive time at 6.5 per cent. Relevance: GS III: Indian Economy Dimensions of the Article: Key Highlights of the MPC Meeting Repo Rate Status Policy Stance Retention GDP Growth and Inflation Forecast Investment Activity Outlook Rupee […]
India’s Economic Status and Roadmap to Development
Context: Currently, India is classified as a “lower-middle income” country with a per capita GDP ranging between $1,136 and $4,465. In contrast, China stands as an “upper-middle income” nation with a per capita GDP between $4,466 and $13,845. Looking ahead, even with a modest annual GDP growth rate of 6%, India is projected to become […]
India’s Growing Solar Waste Crisis Highlighted
Context: A report titled ‘Enabling a Circular Economy in India’s Solar Industry – Assessing the Solar Waste Quantum’ has drawn attention to India’s increasing solar waste issue. The study was undertaken by the Ministry of New and Renewable Energy (MNRE) in partnership with experts from the Council on Energy, Environment and Water, a prominent not-for-profit […]
Jobs for Resilience Report
Context: The World Bank’s ‘South Asia Regional Update: Jobs for Resilience report’ raises concerns over the South Asia region, including India, failing to capitalize on its demographic dividend. Despite projecting a robust growth rate of 6.0-6.1% for 2024-25, the report indicates that the pace of job creation in the region is insufficient compared to the […]
Curbing Malpractices within Private Banks
Context: Numerous private banks in India have been implicated in significant irregularities and malpractices, with some of these infractions highlighted in their Inspection Reports since the Supreme Court directed the Reserve Bank of India (RBI) to make such reports public under the RTI Act. However, the RBI is currently hesitant to disclose these reports publicly as per […]
India’s Defence Exports Surge to Record High in FY 2023-24
Context: India’s defence exports have reached a historic milestone, amounting to Rs 21,083 crore (approximately USD 2.63 billion) in the fiscal year 2023-24. This represents a significant increase of 32.5% compared to the previous fiscal year. Recent data also reveals an impressive 31-fold growth in defence exports over the past decade, when compared to figures […]