April 25, 2024

Indian Economy


General Studies Paper -3 Context: Recently, the International Monetary Fund (IMF) has suggested that India needs to focus on investing heavily in education and health to ensure that its growing, young population is adequately employed. Understanding the Demographic Dividend It refers to the economic growth potential that results from shifts in a population’s age structure, mainly when the share of the working-age population (15 to 64 years old) is larger than the non-working-age population (14 or younger and 65 or older). The change in age structure is typically brought on by a decline in fertility and mortality rates. Key areas....Read More

General Studies Paper -3  Context: The Centre has directed all gas-based power generating stations to operationalise their plants from May 1 to June 30 in view of rise in electricity demand due to an early onset of the heat wave this summer. India’s Gas Based Energy Sector The Central Electricity Authority under the Ministry of Power, monitors 62 gas based power stations, with a total capacity of 23,845 MW using gas as primary fuel. India’s natural gas demand is expected to rise by 6 percent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors,....Read More

General Studies Paper -3  Context: The government has come up with a new platform to disburse subsidies to horticulture farmers under the Cluster Development Programme (CDP) known as CDP-SURAKSHA. CDP-SURAKSHA The CDP-SURAKSHA is essentially a digital platform. SURAKSHA stands for “System for Unified Resource Allocation, Knowledge, and Secure Horticulture Assistance.” The platform will allow an instant disbursal of subsidies to farmers in their bank account by utilising the e-RUPI voucher from the National Payments Corporation of India (NPCI). The voucher is a one-time payment mechanism that can be redeemed without a card, digital payments app or internet banking access, at....Read More

General Studies Paper-3 Context: Despite Japan facing challenges such as low birth rates, a shrinking population, and slow economic growth, reforms promoting “womenomics” were implemented during the “Abenomics” (Tenure of PM Shinzō Abe)period. Now, these reforms are yielding positive outcomes The women’s labour force participation rate (WLFPR) in Japan has increased by ten percentage points, rising from 64.9% in 2013 to 75.2% in 2023. This marks the fastest growth in Japan’s WLFPR in recent decades and stands as the highest among G7 countries over the past decade. It’s estimated that this rise in women’s labour force participation rate could  boost....Read More

General Studies Paper-3 Context: Recent study by Lancet on global fertility rates suggests that India’s TFR  has been seeing a decline over the last century. Finding  The total fertility rate (TFR) for India is projected to go down to29 by 2051 from 6.18 children per woman in 1950. This estimate is based on a complex demographic modelling, done for 204 countries as part of the global burden of disease study. The decline is uneven across states and it will take a decade before all states, especially large ones like Uttar Pradesh, Bihar and Jharkhand, achieve the replacement level fertility, which,....Read More

General Studies Paper-3 Context: The National Sample Survey (NSS) Office released the key results of the Household Consumption Expenditure Survey (HCES) 2022-23. About The National Sample Survey Office (NSSO) under Ministry of Statistics and Programme Implementation has been conducting household surveys on consumption/consumer expenditure at regular intervals as part of its rounds, normally of one-year duration. Since 1972, NSSO has been conducting the Consumer Expenditure Survey. It  is designed to collect information on consumption of goods and services by the households. The survey aims at generating estimates of household Monthly Per Capita Consumption Expenditure (MPCE)and its distribution separately for the rural and urban sectors of the country, for....Read More

General Studies Paper -3 Context: According to a study by the Indian Institute of Management (IIM), Lucknow there is a surge in output growth and employment from 1987–88 to 2004–05, followed by ‘jobless growth’ from 2004–05 to 2018–19. Even the premier institutions are struggling to place students in the Campus Placements. Key Findings  The study highlights the growing level of unemployment for the highly educated youth than the less educated. The unemployment for the illiterate and less educated class (below primary) was 0.57% and 1.13% respectively while, for the highly educated class (graduates and above), it was 14.73% in 2020–21 for the age....Read More

General Studies Paper -3 Context: Present circumstances call for a new chapter in India-Africa relations.  India-Africa relations India and Africa have a time-honoured partnership based on shared values and the country enjoys considerable goodwill within Africa. India’s trade with Africa has grown from US$ 68.5 billion in 2011-12 to US$ 90.5 billion in 2022-23 and Indian investors have also expanded their footprint in Africa. India is now one of the top five investors in Africa. Developments  India and Africa have made effective contributions to protect the interests of developing countries at international fora, particularly theWorld Trade Organisation (WTO). They moved....Read More

General Studies Paper -3 Context: The Punjab and Haryana high court has made it clear that courts can order release of an accused of money laundering under police custody without fulfilling twin conditions as mandated under the Prevention of Money Laundering Act (PMLA), 2002. About the Act  PMLA forms the core of the legal framework put in place by India to combat money laundering.  PMLA and the Rules notified there under came into force with effect from July 1, 2005 . The PMLA was enacted by India’s Parliament under Article 253 which empowers it to make laws for implementing the international conventions. The....Read More

General Studies Paper -3 Context: Recently, the International Labour Organisation (ILO) and the Institute of Human Development (IHD) together released the India Employment Report for 2024. Key Findings of the India Employment Report (2024): Youth Unemployment: India’s youth account for almost 83% of the unemployed workforce. The share of youngsters with secondary or higher education in the total unemployed has almost doubled from 35.2% in 2000 to 65.7% in 2022. Labour Market Indicators:The key labour market indicators such as the Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR), and the Unemployment Rate (UR) showed a long-term deterioration between 2000 and 2018. However, these indicators witnessed....Read More

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