Listen to the People Not the Numbers
Context: The challenge facing the Indian economy lies in insufficient and unsustainable income growth for a significant portion of the population, rather than a lack of overall economic expansion. Economists, both supportive and critical of the government, are engaged in a debate about job creation and scrutinizing the accuracy of government data. Relevance: GS3- Economy […]
NPAs: Setting the Record Straight
Context: According to information provided by the Reserve Bank of India (RBI) in response to an RTI query, scheduled commercial banks (SCBs) have written off non-performing assets (NPAs), or bad loans, amounting to over Rs 10,57,000 crore in the last five years. Relevance: GS3- Indian Economy Mains Question: In the context of Non-Performing Assets in […]
CAFRAL Highlights Growing Risks in NBFC Financing
Context: The Centre for Advanced Financial Research and Learning (CAFRAL), established by the Reserve Bank of India (RBI), has drawn attention to an escalating risk in bank financing for Non-Banking Finance Companies (NBFCs). Additionally, CAFRAL has issued a warning regarding the digital lending landscape, identifying potential dangers. The research body also cautions against fake or […]
About the GST Amnesty Scheme
Context: The finance ministry has come out with an amnesty scheme for filing appeals against Goods and Services Tax (GST) demand orders. Relevance: GS III: Indian Economy Dimensions of the Article: About the GST Amnesty Scheme: Significance: What is the Goods and Services Tax (GST)? -Source: Times of India
Indian Railways Capital Expenditure and Operating Ratio
Context: The Indian Railways has witnessed a substantial increase in capital expenditure after integrating its rail budget with the main budget. However, the operating ratio, which evaluates expenses against revenue, has not shown improvement. Relevance: GS III: Indian Economy Dimensions of the Article: Current Challenges Faced by Indian Railways Indian Railways confronts several pressing issues […]
Worker Productivity
Context: Infosys founder N.R. Narayana Murthy has stirred debate by encouraging young Indians to work 70 hours per week, drawing comparisons with Japan and Germany’s post-World War II efforts to rebuild. Murthy expressed concern over India’s low worker productivity levels, emphasizing the need for increased work hours to boost the nation’s growth prospects. Relevance: GS […]
Working Conditions for India’s Gig Workers
Context: The fifth annual study conducted across 12 e-commerce platforms by Fairwork India, presents a grim picture of working conditions for India’s gig workers. Relevance: GS III: Indian Economy Dimensions of the Article: Key Highlights of the Study: The study on gig work and workers’ rights brings to light several significant findings and issues, including: Minimum Wage Policies: Living Wage Concerns: Alienation […]
Commodity Markets Outlook Report
Context: The World Bank has published the Commodity Markets Outlook report. Relevance: GS III: Indian Economy Dimensions of the Article: Commodity Markets Outlook Report The Commodity Markets Outlook report offers insights into various commodity groups, including energy, metals, agriculture, precious metals, and fertilizers. This report serves as a valuable resource for understanding and analyzing global […]
Renewed Risks on the Economic Outlook for 2023-24
Context: On October 6, the Reserve Bank of India (RBI) maintained its GDP growth projection for the year at 6.5%. This outlook was based on a balance of factors. While there were risks stemming from geopolitical tensions, economic fragmentation, volatile financial markets, and an uneven monsoon, these were offset by the strengthening domestic demand. Relevance: […]
India’s Growing Contribution to Global Economic Growth
Context: According to the IMF, India’s contribution to global economic growth is forecasted to increase by 2%. India’s current 16% contribution is projected to grow to 18% over the next five years. This expected growth is attributed to India’s faster economic expansion. Relevance: GS III: Indian Economy Dimensions of the Article: Factors Contributing to India’s […]