A $5 Trillion Indian Economy
Context: Recently the Prime Minister declared an extension of the Pradhan Mantri Garib Kalyan Ann Yojna for five years in an election rally in Chhattisgarh. Notably, 2028 is the year the government anticipates India to attain the status of the world’s third-largest economy, boasting a GDP of $5 trillion. Even with a $5 trillion GDP, a significant […]
Listen to the People Not the Numbers
Context: The challenge facing the Indian economy lies in insufficient and unsustainable income growth for a significant portion of the population, rather than a lack of overall economic expansion. Economists, both supportive and critical of the government, are engaged in a debate about job creation and scrutinizing the accuracy of government data. Relevance: GS3- Economy […]
NPAs: Setting the Record Straight
Context: According to information provided by the Reserve Bank of India (RBI) in response to an RTI query, scheduled commercial banks (SCBs) have written off non-performing assets (NPAs), or bad loans, amounting to over Rs 10,57,000 crore in the last five years. Relevance: GS3- Indian Economy Mains Question: In the context of Non-Performing Assets in […]
CAFRAL Highlights Growing Risks in NBFC Financing
Context: The Centre for Advanced Financial Research and Learning (CAFRAL), established by the Reserve Bank of India (RBI), has drawn attention to an escalating risk in bank financing for Non-Banking Finance Companies (NBFCs). Additionally, CAFRAL has issued a warning regarding the digital lending landscape, identifying potential dangers. The research body also cautions against fake or […]
About the GST Amnesty Scheme
Context: The finance ministry has come out with an amnesty scheme for filing appeals against Goods and Services Tax (GST) demand orders. Relevance: GS III: Indian Economy Dimensions of the Article: About the GST Amnesty Scheme: Significance: What is the Goods and Services Tax (GST)? -Source: Times of India
Indian Railways Capital Expenditure and Operating Ratio
Context: The Indian Railways has witnessed a substantial increase in capital expenditure after integrating its rail budget with the main budget. However, the operating ratio, which evaluates expenses against revenue, has not shown improvement. Relevance: GS III: Indian Economy Dimensions of the Article: Current Challenges Faced by Indian Railways Indian Railways confronts several pressing issues […]
Worker Productivity
Context: Infosys founder N.R. Narayana Murthy has stirred debate by encouraging young Indians to work 70 hours per week, drawing comparisons with Japan and Germany’s post-World War II efforts to rebuild. Murthy expressed concern over India’s low worker productivity levels, emphasizing the need for increased work hours to boost the nation’s growth prospects. Relevance: GS […]
Working Conditions for India’s Gig Workers
Context: The fifth annual study conducted across 12 e-commerce platforms by Fairwork India, presents a grim picture of working conditions for India’s gig workers. Relevance: GS III: Indian Economy Dimensions of the Article: Key Highlights of the Study: The study on gig work and workers’ rights brings to light several significant findings and issues, including: Minimum Wage Policies: Living Wage Concerns: Alienation […]
Commodity Markets Outlook Report
Context: The World Bank has published the Commodity Markets Outlook report. Relevance: GS III: Indian Economy Dimensions of the Article: Commodity Markets Outlook Report The Commodity Markets Outlook report offers insights into various commodity groups, including energy, metals, agriculture, precious metals, and fertilizers. This report serves as a valuable resource for understanding and analyzing global […]
Renewed Risks on the Economic Outlook for 2023-24
Context: On October 6, the Reserve Bank of India (RBI) maintained its GDP growth projection for the year at 6.5%. This outlook was based on a balance of factors. While there were risks stemming from geopolitical tensions, economic fragmentation, volatile financial markets, and an uneven monsoon, these were offset by the strengthening domestic demand. Relevance: […]