Reflecting on the 1991 Indian General Elections Amid 2024 Preparations
Context: As India prepares for the 2024 general election, it is crucial to reflect on the pivotal 1991 Indian general elections, which marked a significant turning point in the country’s history. These elections brought about profound political and economic changes, driven by the leadership of PV Narasimha Rao and the impactful electoral reforms led by […]
India’s Trade Deficit with Major Trading Partners in FY 2023-24
Context: According to the latest data from the Ministry of Commerce & Industry, India has recorded a trade deficit with 9 of its top 10 trading partners in the fiscal year (FY) 2023-24. Relevance: GS III: Indian Economy Dimensions of the Article: India’s Foreign Trade: General Overview: Trading Partners: Historical Trends: Exports (Merchandise): Top Exports: […]
RBI Approves Record Surplus Transfer to Central Government
Context: The Central Board of the Reserve Bank of India (RBI) has approved a record surplus transfer of Rs 2.11 lakh crore to the Central government for the fiscal year 2023-24. This transferable surplus has been calculated based on the Economic Capital Framework (ECF). Relevance: GS III: Indian Economy Dimensions of the Article: What is […]
RBI Tightens Oversight on Gold Loan Lenders and NBFCs
Context: The Reserve Bank of India (RBI) has intensified its scrutiny of Non-Banking Financial Companies (NBFCs) and gold loan lenders, urging them to adhere strictly to regulatory norms during lending practices. This move aims to bolster regulatory control and ensure compliance within the sector. The RBI’s recent actions include banning IIFL Finance from issuing fresh […]
UNCTAD Global Trade Update 2024
Context: The United Nations Conference on Trade and Development (UNCTAD) has released its Global Trade Update for 2024, indicating a potential turnaround for international trade. After experiencing declines over multiple quarters, trade is expected to rebound in 2024, marking a significant shift in global economic dynamics. Relevance: GS III: Indian Economy Dimensions of the Article: […]
Surge in Employment Generation Raises Debates in India
Context: India has experienced a substantial increase in employment, witnessing the creation of over 80 million additional jobs from 2017-18 to 2022-23. This surge has ignited discussions regarding its root causes and the sustainability of this trend. Relevance: GS III: Indian Economy Dimensions of the Article: Key Trends in Employment Growth: Evolution of Employment Quality: […]
WTO Members Celebrate 30th Anniversary
Context: Recently, members of the World Trade Organisation (WTO) marked the 30th anniversary of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). The TRIPS agreement, which was reached in Marrakesh and played a pivotal role in the establishment of the WTO in 1995, has had a profound and enduring impact on global trade […]
Understanding the WTO’s Agreement on Agriculture (AoA)
Context: The US and Australia have contended that India has provided sugarcane subsidy beyond the limits set out in the WTO’s Agreement on Agriculture (AoA), which may have distorted global trade. Relevance: GS III: Indian Economy Dimensions of the Article: Understanding the WTO’s Agreement on Agriculture (AoA): Three Pillars of the AoA: Domestic Support: Market […]
RBI Imposes Restrictions on Kotak Mahindra Bank
Context: The Reserve Bank of India (RBI) has prohibited Kotak Mahindra Bank (KMB) from acquiring new customers through its online and mobile banking platforms and issuing new credit cards. Existing customers, however, will continue to receive these services. Relevance: GS III: Indian Economy Dimensions of the Article: Factors Leading to Reserve Bank of India Restrictions: […]
Initiative to Enhance Indigenous Content In Shipbuilding
Focus: GS-2- Government Policies and Interventions GS-3: Growth and Development, Infrastructure Why in News? The Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) recently signed a Memorandum of Understanding (MoU) for the supply of indigenous marine grade steel to enhance the indigenous content in shipbuilding. The initiative aims to foster indigenisation, enhance capabilities […]