Challenges in the Implementation of Insolvency and Bankruptcy Code
Context: The Insolvency and Bankruptcy Code (IBC), enacted in 2016, aimed to fulfill diverse objectives, yet recent events have sparked concerns regarding its efficacy and the resolution process. Relevance: GS III: Indian Economy Dimensions of the Article: Key Concerns with the Implementation of IBC The Insolvency and Bankruptcy Code (IBC), designed to achieve various objectives, […]
About India Post Payments Bank (IPPB)
Context: India Post Payments Bank enter into MoU with Hindustan Zinc to offer financial inclusion services to its CSR beneficiaries Relevance: GS III- Indian Economy About India Post Payments Bank (IPPB)
Seven Odisha Products Secure Geographical Indication (GI) Tag
Context: Seven distinct products from Odisha, including the Similipal Kai chutney featuring red weaver ants and the intricately embroidered Kapdaganda shawl, have been honored with the prestigious Geographical Indication (GI) tag. This recognition underscores the unique and exclusive nature of these products, firmly associating them with the cultural and geographical identity of Odisha. Relevance: GS […]
India’s GDP Growth Projection for 2023-24
Context: The First Advance Estimates (FAEs) from the Government of India indicate a projected GDP growth of 7.3% for the current financial year (2023-24). This growth rate, slightly surpassing the 7.2% recorded in the previous year (2022-23), offers an optimistic outlook for India’s economic trajectory. Relevance: GS III: Indian Economy Dimensions of the Article: Gross […]
Indian Toy Industry’s Remarkable Growth
Context: According to a case study on “Success Story of Made in India Toys” released by the DPIIT, the Indian Toy industry witnessed a rise of 239% in exports (and decline in imports by 52%) in 2022-23 as compared to 2014-15. Relevance: GS III: Indian Economy Dimensions of the Article: Evolution and Status of the […]
Extension of PLI Scheme for Automobile and Auto Components
Context: The Ministry of Heavy Industries has extended the tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year. The incentives will now be applicable for five consecutive financial years, commencing from 2023-24. The decision, approved by the Empowered Group of Secretaries (EGoS), outlines that companies failing to meet […]
Shifting Dynamics in Indian Inflation
Context: The Reserve Bank of India’s recent observations reveal a noteworthy shift in the dynamics of inflation in India, with supply and demand factors playing crucial roles. Over the period from January 2019 to May 2023, approximately 55% of the Consumer Price Index (CPI) headline inflation is attributed to supply-side factors, while demand drivers contributed […]
About the Green Deposits
Context: Recently, the Reserve Bank of India (RBI) said it is not mandatory for banks and Non-Banking Financial Companies (NBFCs) to raise green deposits. Relevance: GS III: Indian Economy Dimensions of the Article: What are green deposits? Regulatory Framework for Green Deposits by RBI Conditions for Accepting Green Deposits: Transparency Requirements: Sustainable Sectors Eligible for […]
Improvement in GNPA Ratio
Context: The Reserve Bank of India’s recent report reveals a noteworthy reduction in the gross non-performing asset (GNPA) ratio for Scheduled Commercial Banks (SCBs). The ratio, which stood at 3.9% at the end of March 2023, experienced a significant decline, reaching 3.2% by the end of September 2023. This positive shift can be attributed to […]
About Index of Eight Core Industries
Context: The combined Index of Eight Core Industries (ICI) increased by 7.8 per cent (provisional) in November 2023 as compared to the Index of November 2022. The production of Coal, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel recorded positive growth in November 2023. Relevance: GS III- Indian Economy About Index of Eight Core Industries: Released by: The […]