KARNATAKA’S STARTUP INITIATIVE GETS RECOGNITION
Focus: GS-III Indian Economy Why in news? An initiative of the Centre to encourage competition between States has seen Karnataka come up trumps. Karnataka has been identified as one of the top performers in 2019, alongside Kerala, as per the latest States Startup Ranking Framework, set up by the Department for Promotion of Industry […]
GDP SHRINKING, GOVT. MAY BORROW MORE
Focus: GS-III Indian Economy Why in news? Crisil Research said India’s Gross Domestic Product (GDP) would shrink 9% in FY21, wider than its May 2020 estimate of a 5% contraction. Revenue shortfalls in India, the major economy hardest hit by the COVID-19 pandemic, are likely to force the Centre to borrow more, but it will […]
LOAN RECAST: RBI EXPERT PANEL RECOMMENDATIONS
Focus: GS-III Indian Economy Why in news? The Reserve Bank of India set up a five-member expert committee headed by K V Kamath which recently came out with recommendations on the financial parameters required for a one-time loan restructuring window for corporate borrowers under stress due to the pandemic. It sets the stage for the […]
AN AGRICULTURE-LED REVIVAL AS FLAWED CLAIM
Focus: GS-III Indian Economy Major arguments for “Agriculture will lead India’s economic revival” Food Procurement For: India’s food grain production in 2019-20 was 3.7% higher than in 2018-19. The procurement of rabi wheat in 2020-21 was 12.6% higher than in 2019-20. Against: However, as per official data, only 13.5% of paddy farmers and 16.2% of […]
GDP TO SHRINK 14.8%: GOLDMAN
Focus: GS-III Indian Economy Why in news? The Indian economy is the worst-hit among major economies, American brokerage Goldman Sachs said, sharply cutting its FY21 GDP forecast to a contraction of 14.8%. Details The estimate comes days after official data said the economy contracted by 23.9% for the June 2020 quarter, as activity across all […]
GLOBAL ECONOMY TO CONTRACT 4.4%
Focus: GS-III Indian Economy Why in news? Fitch Ratings projected global GDP to contract 4.4% in the current year, but revised upwards China’s growth estimate to 2.7% for 2020. Details Fitch has slashed India’s growth projection to (-)10.5% from (-)5% estimated earlier after official data released last week showed the April-June 2020 quarter GDP contracted […]
SMALL BUSINESSES FACED THE WRATH OF THE PANDEMIC
Focus: GS-III Indian Economy Why in news? Small businesses have been hit the most by the spread of covid-19, data from CARE Ratings confirms. Listed companies with sales of less than Rs. 25 crore recorded the sharpest contraction in sales of around 67% from April to June 2020. Why have small firms been hit the […]
FARMERS FEELING CHEATED BY THE GOVT’S POLICIES
Focus: GS-III Indian Economy Four specific points – Gap between Policy and Impact on the rural economy I- Diesel Tax, and others Under PM Kisan, each landowning farmer (landless are excluded) receives Rs 6,000 annually. A farmer growing a combination of paddy and wheat utilises about 50 litres of diesel per acre. As of September […]
EASE 2.0 INDEX RESULTS AND DOORSTEP BANKING SERVICES
Focus: GS-III Indian Economy Why in news? Union Minister of Finance & Corporate Affairs inaugurated Doorstep Banking Services by PSBs and participated in the awards ceremony to felicitate best performing banks on EASE Banking Reforms Index. EASE A common reform agenda for PSBs, EASE Agenda, launched in 2018, is aimed at institutionalizing clean and smart […]
FOREX RESERVES AT ALL-TIME HIGH
Focus: GS-III Indian Economy Introduction India’s foreign exchange (forex) reserves surged by more than 3.5 billion Dollars to touch a lifetime high despite the current Pandemic Situation. Although the Covid Pandemic is likened to one the worst crises that the country has faced, the current situation stands in stark contrast to the one in 1991, […]