Countervailing Duties Imposed on Indian Products
Context: The United States and the European Union have levied countervailing duties (CVDs) on four Indian products in response to the introduction of the Remission of Duties and Taxes on Export Products (RoDTEP) scheme for outbound shipments in January 2021. The U.S. concluded countervailing investigations, resulting in CVD determinations for items such as paper file […]
Anarcho-Capitalism in Spotlight
Context: The term “anarcho-capitalism” has garnered recent attention, notably following Javier Milei’s electoral triumph in Argentina. Milei, a self-proclaimed anarcho-capitalist, advocates for the abolition of the state, proposing a system where private companies manage law and order within a free market. Relevance: GS III: Indian Economy (Capitalism) Dimensions of the Article: Anarcho-Capitalism: A Political and […]
Warning on Fiscal Burden from Return to Old Pension Scheme
Context: The Reserve Bank of India (RBI) has issued a report titled “State Finances: A Study of Budgets of 2023-24,” expressing concern over the financial strain imposed by a return to the Old Pension Scheme (OPS) by some states. The report highlights that such a move would significantly burden state finances, limiting their capacity for […]
Calibrating a Strategy for India’s Future Growth
Context: India’s growth for the fiscal year 2023-24 is currently estimated at 7% by the Reserve Bank of India, while the International Monetary Fund (IMF) and the World Bank have set it at 6.3%. Looking ahead, the IMF forecasts an annual growth of 6.3% up to 2028-29. India’s future growth strategy needs to be adjusted considering changing global […]
What are Critical Minerals?
Context: Twenty blocks of critical minerals are currently on auction for commercial mining by the private sector. The bidding process began on November 29, and bids can be submitted until January 22 next year. Relevance: GS III- Indian Economy Dimensions of the Article: What are Critical Minerals? Why is this resource critical? What is China […]
Lakadong Turmeric and Curcumin
Context: Recently, Meghalaya’s Lakadong turmeric has been awarded the Geographical Indication (GI) tag. Relevance: GS III: Indian Economy Dimensions of the Article: Lakadong Turmeric and Curcumin Lakadong Turmeric Curcumin Geographical Indications (GI) Tag Definition and Importance: Administration and Registration: Significance and Examples: Ownership and Proprietorship: Location of the Geographical Indications Registry: -Source: The Hindu
Goods and Services Tax (GST) Reforms
Context: The Goods and Services Tax (GST), now in its six-and-a-half-year milestone this month, has generated nearly ₹3.4 lakh crore during October and November. October witnessed the second-highest monthly collections, and November followed closely as the third highest. Relevance: GS3- Mains Question: Healthier inflows from GST offer policy makers the bandwidth to fix its flaws. Comment in the context of recent GST collection figures. (10 marks, 150 […]
What is Purchasing Managers’ Index (PMI)?
Context: India’s manufacturing sector continued to perform better with S&P Global Purchasing Managers’ Index (PMI) rising to 56 in November against 55.5 in October. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Mobilization of Resources) Dimensions of the Article: What is Purchasing Managers’ Index (PMI)? Understanding PMI -Source: The Hindu
PLFS Data for July-September 2023
Context: The Periodic Labour Force Survey (PLFS), conducted by the National Sample Survey Office (NSSO), recently released data for July-September 2023, shedding light on India’s unemployment rate in urban areas. Relevance: GS III: Indian Economy Dimensions of the Article: Recent PLFS Highlights: Urban Unemployment, Worker Population Ratio, and LFPR Urban Unemployment: Worker Population Ratio (WPR): Labour Force Participation Rate (LFPR): […]
Argentina at a Crossroads
Context: Argentina, plagued by severe inflation and widespread poverty, faces a pivotal moment. Dollarisation is seen as a potential remedy for the country’s economic challenges. Relevance: GS III: Indian Economy Dimensions of the Article: Dollarization’s Economic Impact: Strategies and Benefits Curbing Hyperinflation: Export-Oriented Strategies: Foreign Investor Attraction: Mitigating Speculative Risks: Fiscal Policy Emphasis: Ecuador’s Dollarization Experience: Lessons Learned Initial Challenges: Economic Progress: […]