About The Critical Minerals
Context: The Ministry of Mines recently signed a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) to strengthen cooperation in the critical minerals sector. Relevance: GS III- Indian Economy Dimensions of the Article: What are Critical Minerals? Why is this resource critical? What is China ‘threat’? What are countries around the world doing about it? -Source: Indian Express
Exploring the Stagnation of Rural Wages Amidst India’s Economic Growth
Context: Despite India’s impressive economic growth in recent years, rural wages have remained stagnant, particularly in real terms. This situation calls for a deeper examination of the dichotomy between macroeconomic expansion and the subdued increase in rural incomes. Relevance: GS III: Indian Economy Dimensions of the Article: Rural Wages Versus Economic Growth in India Overview […]
ILO Report Stresses Impact of Care Responsibilities
Context: A recent report by the International Labour Organisation, titled “The Impact of Care Responsibilities on Women’s Labour Participation,” identifies low female labor force participation in India as a major challenge, primarily because women shoulder the extensive caregiving responsibilities. The report suggests that more investment in early childhood care and education is required to enable […]
Finance Ministry Report Indicates Slowdown in Urban Demand for H1 FY25
Context: The latest monthly economic review from the Finance Ministry reveals a slowdown in urban demand, as evidenced by several economic indicators during the first half of FY25. The report outlines key factors influencing India’s changing economic landscape, pinpointing both challenges and potential areas for growth. Relevance: GS III: Indian Economy Dimensions of the Article: […]
About The Microfinance Institutions
Context: Recently, the Financial Services Secretary, while highlighting the crucial role of microfinance institutions (MFIs) in fostering financial inclusion, emphasised that they must avoid reckless lending despite their role in promoting financial inclusion. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Banking Sector) Dimensions of the Article: What are Micro Finance Institutions (MFIs)? History of Microfinance Microfinance in India […]
About The World Economic Outlook
Context: In its January update of the World Economic Outlook (WEO) report, the IMF has marginally improved the forecast for global growth in 2023 — a relief, given the fears of a global recession in 2023. The turnaround reflects “positive surprises and greater-than-expected resilience in numerous economies”. Relevance: GS III: Indian Economy Dimensions of the Article: Highlights […]
What is Rice Fortification
Context: The Centre defended its initiative to supply fortified rice, aimed at combating micronutrient deficiencies, amid safety concerns and claims that it benefits multinational companies. The Union Food Ministry emphasized that iron-fortified rice is safe, following World Health Organization (WHO) guidelines, and is globally recognized. Relevance: GS III- Indian Economy, Public distribution system Dimensions of the Article: […]
A Modified UBI Policy May Be More Feasible
Context: The International Labour Organisation’s observation of lagging job growth due to the rise in automation and artificial intelligence, jobless growth, and unemployment in India has sparked widespread debate about implementing universal basic income as a safety net. Example 1: World Economic Forum’s Future of Jobs Report 2023 projects 83 million job losses due to AI and another economic driver over the next five years. Example […]
Nobel Prize in Economics 2024
Context: To the three American economists Daron Acemoglu, Simon Johnson, and James A. Robinson was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2024 “for their analysis of the subjects of economic and political inequality through insights from development economics, contract theory and mechanisms”. Their study responds to a long-standing […]
Base Year Revision for India’s GDP
Context: Recently, MoSPI pulled together a team of economists and forecasters to deliberate on the issue of revising the base year for estimating GDP for India. This is in fact a demonstration of the firm commitment of MoSPI to broad-based consultation—a necessary expectation, given the controversies generated in the past by revisions of the base […]