What the Economic Survey says
Context Putting the spotlight on the way forward after the pandemic, the Economic Survey of 2021-22 has analysed aspects such as inflation, global liquidity measures, and rising energy prices to detail the risks for the economy going ahead. It has also taken stock of growing revenues to indicate the availability of fiscal space, should the government see […]
Fortified rice
Context: The Centre has distributed 3.38 lakh metric tonnes of fortified rice till December 2021 through anganwadis and mid-day meal schemes at government schools, according to the Economic Survey. Relevance: GS III- Indian Economy, Public distribution system Dimensions of the article: Key Points About Food Fortification Need for Food Fortification About Fortification of Rice Key […]
India-UAE to Sign Comprehensive Economic Partnership Agreement (CEPA)
Context: India and the United Arab Emirates will sign the first-ever bilateral Free Trade Agreement between the two countries. Relevance: GS-III: Indian Economy (International trade), GS-II: International Relations (Foreign Policies and Agreements Affecting India’s Interests) Dimensions of the Article: About India’s CEPA agreements India-UAE Relations Recent Developments in India-UAE relations About India’s CEPA agreements India […]
Hope amid uncertainty: On IMF World Economic Outlook
Hope amid uncertainty: On IMF World Economic Outlook Context: The International Monetary Fund has lowered its global growth forecast for this year and next in the wake of the pandemic. Relevance: GS Paper 3: Indian Economy (issues re: planning, mobilisation of resources, growth, development, employment); Inclusive growth and issues therein Mains questions: Do you agree […]
ILO TO PM: ‘SEND CLEAR MESSAGE’ ON LABOUR LAW CHANGES
Why in news? The International Labour Organisation (ILO) has urged Prime Minister to “send a clear message” to the Central and State governments to uphold international labour laws after the recent dilution of laws by some States. Why is ILO showing concern? A group of 10 Central trade unions wrote to the ILO in Geneva […]
India’s crude steel output declines 65 per cent
Why in news? On May 24, 2020, the World Steel Association released the World Steel Report. According to the report, the crude steel report of India declined by 65%. Details: The country had produced 9.02 MT of crude steel during the same month a year ago, the World Steel Association (world steel) said in a […]
EXTEND LOANS WITHOUT FEAR OF 3CS: FM
Why in news? Finance Minister Nirmala Sitharaman on 23rd May 2020 said banks had been asked to extend loans automatically to eligible borrowers without ‘fear of 3Cs — CBI, CVC and CAG’. Details Clear instructions had been given in a meeting with CEOs and MDs of public sector banks and financial institutions on 22nd May that the […]
RBI CUTS REPO RATE AGAIN, EXTENDS MORATORIUM
Why in news? The Reserve Bank of India (RBI) further reduced the key interest rate or the repo rate by 40 bps on 22nd May 2020 after the Monetary Policy Committee (MPC) meeting as the COVID-19 pandemic induced lockdown continues. The Reserve Bank of India (RBI) has extended the moratorium on repayment for term loans by […]
93 MILLION URBAN INFORMAL WORKERS AFFECTED: GOM REPORT
Why in news? As many as 93 million urban informal workers, across five sectors — manufacturing, construction, trade, tourism and hospitality — have been affected by the ongoing Covid-19 pandemic and the lockdown – according to an informal Group of Ministers headed by labour minister. Details of Suggestions submitted Creation of: A database of the […]
FINANCE COMMISSION: HIGH LEVELS OF UNCERTAINTY
Why in news? India’s nominal GDP growth rate in 2020-21 could range between -6% and 1%, according to members of the 15th Finance Commission’s (XV-FC) committee on the fiscal consolidation roadmap. Details of Uncertainty There are high levels of uncertainty, both with regard to the course of the pandemic and the fiscal pressures on the […]