Back in the shortage economy: Covid-19 Impact
Context: We have been witnessing shortages of almost everything needed to treat COVID-19 patients: hospital beds, drugs, ventilators and, above all, oxygen. India is once again the focus of global attention, as it was in the mid-1960s when two consecutive years of drought resulted in a severe shortage of food. Relevance: GS-III: Indian Economy (Economic […]
NITI Aayog and Mastercard report on e-Commerce
Context: NITI Aayog and Mastercard released the ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’ report on digital financial inclusion in India. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Mobilization of Resources, Financial Inclusion, Banking Sector) Dimensions of the Article: What is Digital financial inclusion? Benefits of Digital Financial Inclusion […]
Indian offshore model to dominate IT sector
Context: Analysis said that IT markets are picking up to such a degree that both the U.S. and Europe are running out of critical skills, and with this, offshore and Indian alternatives are increasingly becoming attractive for tech buyers. Relevance: GS-III: Industry and Infrastructure (IT Sector), Indian Economy Dimensions of the Article: About the attractiveness […]
Why RBI wants moderate bond yields?
Context: The yield on the 10-year benchmark 5.85%, 2030 bond fell by 0.62% and closed at 5.978% (compared to 6.01% on the previous day). The Reserve Bank of India (RBI) had stepped up purchase of government securities under the government securities acquisition programme (G-SAP) which led to the yield on the benchmark 10-year bond falling […]
A lending hand by the RBI
Context: Various measures aimed at alleviating any financing constraint for those impacted, including the health-care sector, State governments and the public were announced by the Reserve Bank of India (RBI) to fight against the second wave of the pandemic. Relevance: GS-III: Indian Economy (Economic Growth and Development, Planning usage and Mobilisation of resources, Inclusive growth […]
SC and HC on Oxygen Supply and GST
Context: Oxygen concentrators received as gifts or ordered online from overseas would attract Goods and Services Tax (GST), but the GST rate payable was reduced from 28% to 12% by the Finance Ministry recently. The Delhi High Court asked the Centre to drop the GST charged on imports of oxygen concentrators for personal use, just […]
Covid impact: Avg. monthly income for workers drops
Context: According to ‘State of Working India 2021: One Year of Covid-19’, a report brought out annually by Azim Premji University’s Centre for Sustainable Employment, Bengaluru – the COVID-19 pandemic has substantially increased informality in employment, leading to a decline in earnings for the majority of workers, and consequent increase in poverty in the country. […]
RBI steps in to ease COVID-19 burden
Context: With India’s economic recovery threatened by the COVID-19 second wave, the Reserve Bank of India stepped in with measures aimed at alleviating any financing constraints for healthcare infrastructure and services, as well as small borrowers who may be facing distress due to a sudden spike in health expenditure. Relevance: GS-III: Indian Economy (Growth and […]
IRDAI pitches for Model Insurance Villages
Context: At a time when the Covid pandemic is raging across the country, the Insurance Regulatory and Development Authority of India(Irdai) has come out with the concept of model insurance villages to cover the entire population in those areas, with the financial support of various institutions like Nabard and CSR funds. Relevance: GS-III: Indian Economy […]
An issue of lives versus livelihoods
Context: Strict to moderate lockdowns are being imposed again in April 2021, terminating jobs in many an establishment employing large numbers of informal workers. Of those employed in the informal category, large numbers include migrants who face a bleak future, with job losses, loss of rented accommodations, a lack of sustainable income and savings to […]