New Tax Regime
Context: Finance Minister made five major announcements on personal income tax to benefit the “hard-working” middle class. She also said that while the new tax regime would be the default, tax payers could opt for the old one. Relevance: GS III: Indian Economy Dimensions of the Article: Details: New income tax slabs The new income […]
World Economic Outlook
Context: In its January update of the World Economic Outlook (WEO) report, the IMF has marginally improved the forecast for global growth in 2023 — a relief, given the fears of a global recession in 2023. The turnaround reflects “positive surprises and greater-than-expected resilience in numerous economies”. Relevance: GS III: Indian Economy Dimensions of the […]
Economic Survey 2023- Key Takeaways
Context: Recently, the government tabled the Economic Survey 2022-23. The Survey laid out the outlook for India’s growth, inflation and unemployment in the coming years. Relevance: GS III: Indian Economy Dimensions of the Article: What is the Economic Survey? What are the main takeaways this year? GDP growth: Inflation: Unemployment: Outlook for 2023-24 What does […]
World Economic Situation and Prospects 2023
Context: Recently, the United Nations has released a new report World Economic Situation and Prospects 2023, which stated that the Global Gross Domestic Product (GDP) is likely to drop to 1.9 % in 2023 from 3 % in 2022. Relevance: GS III: Indian Economy Dimensions of the Article: Report Findings: Inflation Recession Global Output Country […]
What is Gig Economy?
Context: On September 20, 2021, the Indian Federation of App-based Transport Workers, on behalf of gig workers, filed a public interest litigation in the Supreme Court demanding that the Union government provide succour to workers affected by the pandemic. Relevance: GS III- Indian Economy Dimensions of the Article: What is Gig Economy? Advantages of gig economy: Challenges related to Gig Economy: […]
Income Inequality in India: To What Extent Does Taxation Contribute?
Context Despite three decades of economic liberalisation, India is still a country of contrasts, with significant growth and success coexisting with persistent poverty and deprivation. Relevance: GS Paper-3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Mains Question Adopting progressive taxation systems, decentralising investments, encouraging women’s entrepreneurship, and establishing strong […]
Liquified Natural Gas (LNG)
Context: The EU is weaning itself off piped Russian gas by rapidly expanding imports of liquified natural gas, much of it fracked in the US. Relevance: GS III: Indian Economy Dimensions of the Article: What is LNG? Market Limitations Energy Requirements What’s the climate impact of LNG? Energy Intensity: Methane Loss: High Greenhouse Gas Emissions: […]
World Economic Forum 2023
Context: Recently, The World Economic Forum’s Annual Meeting 2023, held in the Swiss town of Davos, ended – a conference that started in a world possibly fundamentally altered, but whose processes and outcomes remained pretty much business as usual. Relevance: GS III: Indian Economy Dimensions of the Article: Some key takeaways from WEF Davos 2023. […]
What is National Coal Index (NCI)
Context: The Ministry of Coal has launched the sixth round of commercial coal mines’ auction for 141 coal mines. As per the provisions of the tender document, the Performance Bank Guarantee (PBG) to be submitted for each successfully auctioned coal mine is to be revised annually based on the National Coal Index (NCI). Relevance: GS […]
Old Pension Scheme vs National Pension Scheme
Context: The Reserve Bank of India (RBI) has cautioned states against reverting to the old pension scheme (OPS), which was in vogue till 2004, stating that it will add to the fiscal burden of States in the coming years. Relevance: GS III: Indian Economy Dimensions of the Article: What did RBI say about the old […]