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 […]
India’s Jobs Crisis- the Macroeconomic Reasons
Context: There are numerous signs indicating that India is currently grappling with a significant employment crisis. Both official data sources and numerous firsthand reports on the ground confirm this reality. There is a need to discuss in detail the macroeconomic factors contributing to this crisis. Relevance: GS2- Indian Economy- Indian Economy and issues relating to […]
T+0- Instant Settlement Cycle
Context: The Securities and Exchange Board of India (SEBI) has put forth a proposal to introduce a facility for clearing and settlement of funds and securities on T+0 (same day), providing an optional instant settlement cycle. This initiative aims to complement the existing T+1 settlement cycle in the secondary markets for the equity cash segment. […]
Internationalisation of the Rupee
Context: In a significant development in the realm of global trade and finance, India has achieved a historic milestone by making its inaugural payment for oil to the United Arab Emirates (UAE) in rupees. This marks a potential turning point in the endeavor to establish the rupee as a prominent global currency. Relevance: GS3- Indian Economy- […]