PRIVATE PLAYERS ALLOWED TO SET UP DATA PARKS
Why in news? Union Budget for 2020-21 has made a provision for private players to get into data center market Details All ‘public institutions’ at the gram panchayat level, such as anganwadis, health and wellness centres, government schools, PDS (public distribution system) outlets, post offices and police stations will be provided with digital connectivity Fiber […]
India’s dominance as global economic power for three-fourths of economic history manifests by design.
Kautilya’s Arthashastra postulates the role of prices in an economy (Spengler, 1971). Historically, Indian economy relied on the invisible hand of the market with the support of the hand of trust: Invisible hand of the market reflected in openness in economic transactions. Hand of trust appealed to ethical and philosophical dimensions. What is Invisible hand […]
THALINOMICS: THE FORMULA BEHIND ONE SQUARE MEAL
For the average worker in India’s organised manufacturing sector, the affordability of a plate of vegetarian food — comprising rice or roti, dal and sabzi has improved 29% since 200607, according to Thalinomics, a take on the economics of food by the Economic Survey. For non-vegetarians, affordability has risen 18%.
NEEDED: FEWER REGULATIONS FOR START-UPS
India needs to work on improving the ease of doing business, especially the ease of starting business, registering property, paying taxes, or enforcing contracts, according to the Economic Survey. Cumbersome norms “If you want to start up a firm in India, it takes 18 days on an average with 10 procedures that can be often […]
CROP DUSTING WITH DRONES IS ILLEGAL, SAYS CENTRE
Why in news? Use of drones for agrochemical spraying had increased of late. This would create a lot of problems. What are problems? Aerial spraying impacts a larger area, while decreasing the efficacy on the target pests. Eg. Kasargod in Kerala reeling under such impact due to aerial spraying of Endosulfan for over 25 years […]
What is Union Budget?
According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year. Theme 1: ASPIRATIONAL INDIA Agriculture Sector • Budget is aimed at doubling farmer income by 2022 by: State […]
PANDEMIC COULD MAKE ANOTHER 25 MILLION JOBLESS
Focus: GS-III Indian Economy, Science and Technology, Prelims Why in news? The COVID-19 pandemic will significantly increase global unemployment, leaving up to 25 million more people out of work, and will dramatically slash workers’ incomes, the United Nations said on 18th March 2020. Views of The International Labour Organization The economic and labour crisis sparked […]
RBI TO REGULATE PAYMENT AGGREGATORS
Focus: GS-III Indian Economy, Economic Development Why in news? The Reserve Bank of India (RBI) on 17th March 2020, said it will regulate in entirety the activities of payment aggregators (PAs) and provide baseline technology-related recommendations to payment gateways (PGs) in view of the important functions of these intermediaries in the online payments space as […]
COVID-19 WILL IMPACT GDP GROWTH BY 90 BPS: SBI REPORT
Focus: GS-III Indian Economy Why in news? The spread of COVID-19, the deadly pandemic, which has impacted several sectors especially transport, tourism and hotel industries, could impact the economic growth of the country by 90 basis points. Highlights On the demand side, inoperability analysis for three sectors, namely transport, tourism and hotels, shows significant impact […]
FPI SALES AT A RECORD HIGH AS VIRUS SPOOKS MARKETS
Focus: GS-III Indian Economy, Economic Development Why in news? Foreign portfolio investors (FPIs), who have been the prime drivers of every bull run that the Indian capital market has seen till date, have been record sellers during the March 2020 month. Till 17th of March, FPIs equity sold and debt cumulatively is the highest ever […]