New Policy of UPI for NRIs
Context: Recently, the National Payments Corporation of India (NPCI) paved the way for international (phone) numbers to be able to transact using UPI. Relevance: GS III: Indian Economy Dimensions of the Article: UPI Transactions for Non-Resident Accounts Definition of NRE and NRO Accounts: Benefits: Technological Changes: Discussion on Merchant Discount Rate (MDR) Concerns: What is […]
What is a unity mall?
Context: Finance Minister announced in the Budget that states would be encouraged to set up a “Unity Mall” in their capitals, their most prominent tourism centres, or their financial capitals. Relevnace: GS III: Indian Economy Dimensions of the Article: What is a unity mall? Ekta Mall: What is ODOP? What is GI? -Source: Indian express
New Tax Regime
Context: Finance Minister made five major announcements on personal income tax to benefit the “hard-working” middle class. She also said that while the new tax regime would be the default, tax payers could opt for the old one. Relevance: GS III: Indian Economy Dimensions of the Article: Details: New income tax slabs The new income […]
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 […]
Economic Survey 2023- Key Takeaways
Context: Recently, the government tabled the Economic Survey 2022-23. The Survey laid out the outlook for India’s growth, inflation and unemployment in the coming years. Relevance: GS III: Indian Economy Dimensions of the Article: What is the Economic Survey? What are the main takeaways this year? GDP growth: Inflation: Unemployment: Outlook for 2023-24 What does […]
World Economic Situation and Prospects 2023
Context: Recently, the United Nations has released a new report World Economic Situation and Prospects 2023, which stated that the Global Gross Domestic Product (GDP) is likely to drop to 1.9 % in 2023 from 3 % in 2022. Relevance: GS III: Indian Economy Dimensions of the Article: Report Findings: Inflation Recession Global Output Country […]
What is Gig Economy?
Context: On September 20, 2021, the Indian Federation of App-based Transport Workers, on behalf of gig workers, filed a public interest litigation in the Supreme Court demanding that the Union government provide succour to workers affected by the pandemic. Relevance: GS III- Indian Economy Dimensions of the Article: What is Gig Economy? Advantages of gig economy: Challenges related to Gig Economy: […]
Income Inequality in India: To What Extent Does Taxation Contribute?
Context Despite three decades of economic liberalisation, India is still a country of contrasts, with significant growth and success coexisting with persistent poverty and deprivation. Relevance: GS Paper-3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Mains Question Adopting progressive taxation systems, decentralising investments, encouraging women’s entrepreneurship, and establishing strong […]
Liquified Natural Gas (LNG)
Context: The EU is weaning itself off piped Russian gas by rapidly expanding imports of liquified natural gas, much of it fracked in the US. Relevance: GS III: Indian Economy Dimensions of the Article: What is LNG? Market Limitations Energy Requirements What’s the climate impact of LNG? Energy Intensity: Methane Loss: High Greenhouse Gas Emissions: […]
World Economic Forum 2023
Context: Recently, The World Economic Forum’s Annual Meeting 2023, held in the Swiss town of Davos, ended – a conference that started in a world possibly fundamentally altered, but whose processes and outcomes remained pretty much business as usual. Relevance: GS III: Indian Economy Dimensions of the Article: Some key takeaways from WEF Davos 2023. […]