About: Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

About: Pradhan Mantri Kaushal Vikas Yojana (PMKVY) It is the flagship scheme for skill training of youth being implemented by the Ministry of Skill Development and Entrepreneurship (MSDE) through the National Skill Development Corporation (NSDC). The objective of the scheme is to enable a large number of Indian youth to take up industry relevant skillContinue reading “About: Pradhan Mantri Kaushal Vikas Yojana (PMKVY)”

Q. In spite of having several achievements, the green revolution has several defects. Examine

Model Answer The Green Revolution in India began in the mid-1960s marking a transition from traditional agriculture in India and the introduction of high-yielding varieties of seeds and the associated agricultural techniques. The Main achievements of the Green Revolution are: Increase in Agricultural Production and productivity: The production and productivity of wheat, rice, maize and bajraContinue reading “Q. In spite of having several achievements, the green revolution has several defects. Examine”

Q. Forest Fires pose a threat not only to the forest wealth but also to the entire regime. In view of this statement discuss the various adverse impacts of Forest Fires.

Model Answer Fires are a major cause of forest degradation and have wide ranging adverse ecological, economic and social impacts including: Effects of forest fire: Loss of valuable timber resources: Forest fires cause indispensable loss to timber and deteriorate its quality. Valuable timber species like teak, sal, chir, deodar, sheesam, rosewood etc. are adversely affected byContinue reading “Q. Forest Fires pose a threat not only to the forest wealth but also to the entire regime. In view of this statement discuss the various adverse impacts of Forest Fires.”

Q. What is Budget Transparency? Scratching its genesis, discuss the benefits associated with budget transparency as well as the ways through which it can be promoted in functioning of a government?

Model Answer Budgets are key documents since they lay out a government’s priorities in terms of policies and programs. Opening up budgets and democratizing the budget process gives citizens a say in policy formulation and resource allocation. Budget transparency refers to the extent and ease with which citizens can access information about and provide feedbackContinue reading “Q. What is Budget Transparency? Scratching its genesis, discuss the benefits associated with budget transparency as well as the ways through which it can be promoted in functioning of a government?”

Q. Insolvency and Bankruptcy Code (IBC) has become a major savior for the banking sector. In this light discuss the impact of new Code on loan recovery and also suggest remedial measures for better implementation of the Code.

Structure of the answer: Background Introduction (about IBC) Positive impact of IBC Lacunas Suggestion and way forward Model Answer Before the passing of IBC it took an average of 4.3 years to resolve insolvency and recovery rate was 25.9% as compared to developed countries where recovery rate was 72%. The salient features are: Consolidation of various laws on insolvency. TheContinue reading “Q. Insolvency and Bankruptcy Code (IBC) has become a major savior for the banking sector. In this light discuss the impact of new Code on loan recovery and also suggest remedial measures for better implementation of the Code.”

Q. Foreign direct investment (FDI) is a like double edged sword. In this light discuss the positive and negative impact of FDI in India. Also suggest suitable measures to improve FDI in India.

Structure of the answer: Introduction (using data) Positive impact of FDI Negative impact of FDI Measures to increase FDI in India Model Answer FDI is an investment made by a firm or an individual into business interest located in other countries. Unlike, portfolio investment the investor in FDI acquire foreign business asset, ownership or controlling interest inContinue reading “Q. Foreign direct investment (FDI) is a like double edged sword. In this light discuss the positive and negative impact of FDI in India. Also suggest suitable measures to improve FDI in India.”

Q. Oceans are the major sources for multiple living and non-living resources that are useful for the growth of blue economy. In this light discuss the concept of Blue economy and its importance for India.

Structure of the answer: Introduction (Blue economy) Ocean as the source for various resources Importance of blue economy Final analysis Model Answer The concept of blue economy was given by Gunter Pauli. It is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs and ocean ecosystem health. Thus, it advocates the greening ofContinue reading “Q. Oceans are the major sources for multiple living and non-living resources that are useful for the growth of blue economy. In this light discuss the concept of Blue economy and its importance for India.”

Q. In recent years there has been number of farmer protest around India demanding increase in Minimum support price (MSP). In this light discuss the effectiveness of MSP and need for replacing it with Price deficiency payment system.

Structure of the answer: Introduction Deficiencies in the MSP system Importance of price deficiency payment system Final analysis Model Answer MSP is the base price set by the Government and whenever the market prices fall below the announced MSPs, procurement agencies step in to procure the crop at the support price. In India, the MSP are recommended byContinue reading “Q. In recent years there has been number of farmer protest around India demanding increase in Minimum support price (MSP). In this light discuss the effectiveness of MSP and need for replacing it with Price deficiency payment system.”

Q. Recent international trend has been averse to the use of nuclear energy. In this light, discuss the reason inhibiting use of nuclear use energy. Also bring out the positive externalities arising from use of nuclear energy.

Structure of the answer:   Introduction Reason for averseness to the use of nuclear energy Positive things in relation to use of nuclear energy Conclusion Model Answer Dr. APJ Abdul Kalam described nuclear power as a gateway to a prosperous future.  However, World Nuclear Association has reported that nuclear electricity generation in 2017 was at its lowest levelContinue reading “Q. Recent international trend has been averse to the use of nuclear energy. In this light, discuss the reason inhibiting use of nuclear use energy. Also bring out the positive externalities arising from use of nuclear energy.”

Q. Government has promised to double farmer’s income by 2022, in this light discuss the measures taken by government to implement the same. Also suggest suitable strategies to timely and sustainable achievement of this target.

Structure of the answer:    Introduction Measures taken by government Suggestion Way forward Model Answer The government has set a target of doubling farmers’ income by 2022 to overcome the distressed situation of agriculture. The situation was evident after large scale farmer’s protest in various parts of India. The reorientation of strategy was needed due to followingContinue reading “Q. Government has promised to double farmer’s income by 2022, in this light discuss the measures taken by government to implement the same. Also suggest suitable strategies to timely and sustainable achievement of this target.”

Q. To resolve the issue of unemployment, there is a need for multi-prong approach. In this light discuss the steps needed to resolve this long-standing issue and also mention the measures taken by the government in this regard.

Structure of the answer: Introduction Steps needed for unemployment Steps taken by the government Way forward Model Answer Unemployment is a situation where person is capable of working both physically and mentally at the existing wage rate, but does not get a job to work. As per the recent statistics unemployment rate in India rose to 7.2%Continue reading “Q. To resolve the issue of unemployment, there is a need for multi-prong approach. In this light discuss the steps needed to resolve this long-standing issue and also mention the measures taken by the government in this regard.”

Q. The suburbanisation occurring at a relatively early stage of India’s urban development is creating new challenges for Indian cities. Enumerate the reasons and suggest remedies.

Approach: Brief introduction about suburbanisation phenomenon in most urbanising countries. Enumerating the reasons why it is occurring at a relatively early stage of India’s urban development. Highlight the challenges it is creating for Indian cities and suggest ways forward. Model Answer A 2013 World Bank report, “Urbanization beyond Municipal Boundaries”, found that suburban areas (orContinue reading “Q. The suburbanisation occurring at a relatively early stage of India’s urban development is creating new challenges for Indian cities. Enumerate the reasons and suggest remedies.”

About: Krishna Godavari basin

About: Krishna Godavari basin The delta plain formed by Krishna and Godavari rivers in the state of Andhra Pradesh and the adjoining areas of Bay of Bengal is known as Krishna Godavari Basin. It is a proven hydrocarbon reserve, with an inland part that covers an area of 28,000 sq. km and an offshore (located in the sea orContinue reading “About: Krishna Godavari basin”

About: Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)

About: Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was enacted in 2005 providing a legal right to employment for adult members of rural households. It aims at addressing causes of chronic poverty through the ‘works’ (projects) that are undertaken, and thus ensuring sustainable development. Core objectives: Providing not less than 100Continue reading “About: Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)”

About: Foreign Exchange Reserves

About: Foreign Exchange Reserves Foreign exchange reserves are the foreign currencies held by a country’s central bank.The reserves in India are managed by the Reserve Bank of India for the Indian government and the main component is foreign currency assets. Reserve Bank of India accumulates foreign currency reserves by purchasing from authorized dealers in open market operations. ReserveContinue reading “About: Foreign Exchange Reserves”

How Covid-19 lockdowns have impacted the global energy sector

The International Energy Agency (IEA) has released a report, Global Energy Review 2020, detailing the impact of Covid-19 on global energy demands and CO2 Report Summary: Covid-19 impact on global energy demands: Decline in overall Energy demand: The IEA is forecasting a 6% decline in energy demand for the year. In absolute terms this is theContinue reading “How Covid-19 lockdowns have impacted the global energy sector”

The WTO’s dispute settlements mechanism is all but dead

Headline : The WTO’s dispute settlements mechanism is all but dead Details : In News: The World Trade Organization’s (WTO’s) dispute settlement mechanism is on the brink of collapsing.   About: World Trade Organisation (WTO) In 1948, the General Agreement on Tariffs and Trade (GATT) came in as an ad hoc and provisional mechanism to enableContinue reading “The WTO’s dispute settlements mechanism is all but dead”

About: Purchasing Manager Index (PMI) and It’s significance

Headline : Manufacturing PMI improves Details : In News: The Nikkei India Manufacturing Purchasing Managers’ Index rose in November from October, indicating an increase in manufacturing activity November. About: Purchasing Manager Index (PMI) The Nikkei India Manufacturing PMI is based on data compiled from monthly survey responses by purchasing managers in more than 400 manufacturing companies, on various factors that represent demand conditions.Continue reading “About: Purchasing Manager Index (PMI) and It’s significance”

About: Core Industries, Index of Industrial Production (IIP), Core sectors and their weights in their 40.27% contribution to the calculation of IIP

Headline : Core sector output falls 1st time in 4 yrs Details : The News: The eight core sectors reported their worst decline in at least eight years, shrinking 5.8% in October. The fall is the sharpest since the start of the new data series using 2011-12 as the base year. About: Index of Industrial ProductionContinue reading “About: Core Industries, Index of Industrial Production (IIP), Core sectors and their weights in their 40.27% contribution to the calculation of IIP”

India can learn agri-policy lessons from China Editorial 25th Oct’19 FinancialExpress

Headline : India can learn agri-policy lessons from China Editorial 25th Oct’19 FinancialExpress Details : India and China have similar challenges in agriculture: India and China are the most populous countries in the world, having a population size of 1.35 billion and 1.39 billion, respectively, in 2018. With limited arable land [about 120 million hectare (m ha)Continue reading “India can learn agri-policy lessons from China Editorial 25th Oct’19 FinancialExpress”

IMF members delay quota changes, agree to maintain funding

Headline : IMF members delay quota changes, agree to maintain funding Details : In News Members of the International Monetary Fund (IMF) have agreed to maintain its funding at $1 trillion but postponed changes to its voting structure. Highlights of the deal The deal will allow an extension of non-permanent, supplementary sources of funds, such as the NewContinue reading “IMF members delay quota changes, agree to maintain funding”

Explained: Why interest rates aren’t falling

Headline : Explained: Why interest rates aren’t falling Details : Context for the article: This article explores why, despite significant repo rate cuts by the RBI, the interest rates in the banking system are not falling much. Rate cuts by the RBI: Since February, the Reserve Bank of India (RBI) has aggressively cut the repo rate.Continue reading “Explained: Why interest rates aren’t falling”

What impact will the thundershowers, hailstorm have on rabi crop?

Headline : What impact will the thundershowers, hailstorm have on rabi crop? Details : The topic Recently, there was heavy rainfall and hailstorms in the many areas of northern India. This articles assesses the impact of heavy rainfall and hailstorms on rabi crops. Background In early February, the National Capital Region, Punjab, Haryana, parts of Uttar PradeshContinue reading “What impact will the thundershowers, hailstorm have on rabi crop?”

MicroCredit Vs MicroFinance

Headline : Explained: What ails the existing microcredit model Details : In News Studies suggest that the existing systems of microcredit have a limited impact on the long-term wellbeing of the recipients. Telegram: https://t.me/MrunalsEconomy           www.UpscExpress.com About: Microcredit Microcredit refers to the granting of very small loans to impoverished borrowers. Rationale Loans givenContinue reading “MicroCredit Vs MicroFinance”

Fintech committee recommends new legal framework for consumer protection

Headline : Fintech committee recommends new legal framework for consumer protection Details : In News: A panel on issues related to financial technology (fintech) has recently submitted its recommendations to the Finance Ministry. The committee has suggested putting in place a comprehensive legal framework to protect consumers of digital services. What Is Financial Technology (Fintech)? Financial technology (Fintech)Continue reading “Fintech committee recommends new legal framework for consumer protection”

Deceleration in economy: Cyclical downswing, not a deep structural slowdown, says RBI

Headline : Deceleration in economy: Cyclical downswing, not a deep structural slowdown, says RBI Details : In News The Reserve Bank of India has released its annual report for the year 2018-19. The report confirms that several sectors are undergoing a deceleration in the economy. However, it states that the deceleration could turn into cyclical downturnContinue reading “Deceleration in economy: Cyclical downswing, not a deep structural slowdown, says RBI”

India’s water crisis: All stakeholders must come together Editorial 29th Aug’19 HindustanTimes

Headline : India’s water crisis: All stakeholders must come together Editorial 29th Aug’19 HindustanTimes Details : Water stress in India: India is home to 17% of world’s population, but has only 4% of the world’s fresh water resources. At present, 75% of Indian households do not have access to drinking water, and close to 90% of ruralContinue reading “India’s water crisis: All stakeholders must come together Editorial 29th Aug’19 HindustanTimes”

Supreme Court upholds homebuyers’ rights as financial creditors under IBC

Headline : Supreme Court upholds homebuyers’ rights as financial creditors under IBC Details : Why in News: The Supreme Court has upheld the validity of an amendment to the Insolvency and Bankruptcy Code (IBC) that treats homebuyers as financial creditors, thus giving homebuyers the right to take legal recourse against developers under three key laws. Background:Continue reading “Supreme Court upholds homebuyers’ rights as financial creditors under IBC”

Economy: RBI has done its bit, now over to the government Editorial 9th Aug’19 HindustanTimes

Headline : RBI has done its bit, now over to the government Editorial 9th Aug’19 HindustanTimes Details : Rate cut by RBI: Inflation is within control. The economy is slowing down.  RBI has lowered its growth projections for the first half of the year sharply. The RBI’s projections indicate that it expects growth to improve in theContinue reading “Economy: RBI has done its bit, now over to the government Editorial 9th Aug’19 HindustanTimes”

Economy: Dividend Tax Distribution, Long Term Capital Gain Tax (LTCG), Surcharge on FPIs

Headline : Market participants seek rollback of surcharge on FPIs, lower LTCG tax Details : The News: In a meeting with Finance Minister, foreign portfolio investors (FPIs) and finance industry players presented a series of proposals to revive investment sentiment. Important Terminologies: About: Dividend Tax Distribution A dividend is a return given by a company toContinue reading “Economy: Dividend Tax Distribution, Long Term Capital Gain Tax (LTCG), Surcharge on FPIs”

About Protocol on Inland Water Transit and Trade (PIWTT), Navigable Inland Waterways, IWAI

Headline : India connects Bangladesh to Bhutan, through waterway Details : The News: In a first-ever development, Indian waterways is being used to transport cargo between 2 countries i.e. Bhutan and Bangladesh. The inland waterways vessel containing cargo from Bhutan to Bangladesh will move via River Brahmaputra ( NW 2) and the Indo Bangla Protocol RouteContinue reading “About Protocol on Inland Water Transit and Trade (PIWTT), Navigable Inland Waterways, IWAI”

Urbanisation key to driving growth engines Editorial 3rd Aug’19 FinancialExpress

Headline : Urbanisation key to driving growth engines Editorial 3rd Aug’19 FinancialExpress Details : Development and urbanisation: Development and urbanisation are two sides of the same coin. No society in recent history remained agrarian while adequately providing for its population. Urbanisation aggregates human activity—aggregation leads to specialisation, specialisation to increased productivity. This enables greater availability of goods,Continue reading “Urbanisation key to driving growth engines Editorial 3rd Aug’19 FinancialExpress”

 Explained: The new debate on defence funding

Headline : Explained: The new debate on defence funding Details : In News The Union Cabinet has amended the terms of reference (ToR) of the 15th Finance Commission (FC) to widen their scope. Through the change, the government has requested the FC to look into the possibility of a separate mechanism for the funding of defenceContinue reading ” Explained: The new debate on defence funding”

About: Purchasing Manager Index (PMI)

About: Purchasing Manager Index (PMI) The Nikkei India Manufacturing PMI, compiled by IHS Markit, is based on data compiled from monthly survey responses by purchasing managers in more than 400 manufacturing companies, on various factors that represent demand conditions. Note: It is also sometime referred to as IHS Markit India Manufacturing PMI. PMI measures activity at the purchasing or input stage. It is veryContinue reading “About: Purchasing Manager Index (PMI)”

Effects of Globalization on Indian Culture and Society

Effects of Globalization on Indian Culture Globalisation has affected what we eat and the way we prepare food (Mcdonaldization), what we wear , purchase etc( Walmartization). There is trend toward homogenization of culture with similar food habits, dressing pattern, music, news , TV programs, movies etc. However, there is also increasing tendency toward Glocalization ofContinue reading “Effects of Globalization on Indian Culture and Society”

National Agriculture Market: NAM

National Agriculture Market  PM Modi recently launched an electronic mandi to help farmers sell their produce online and do away with the problems many farmers face in agricultural markets. National Agriculture Market (NAM) has been incorporated by the Department of Agriculture & Cooperation. This e-platform aims to provide more options to farmers to sell their produce and isContinue reading “National Agriculture Market: NAM”

Paramparagat Krishi Vikas Yojana (PVKY)

Organic Farming : – Paramparagat Krishi Vikas Yojana (PVKY): It is one of the schemes under NMSA (National Mission for Sustainable Agriculture) to promote organic farming. Under PKVY, Organic farming is promoted through cluster approach and local quality assurance systems. It is proposed to develop 10,000 clusters with a size of 20 hectare so as to increase the area 2 lakh hectareContinue reading “Paramparagat Krishi Vikas Yojana (PVKY)”

Revolutions in Economy

Black Revolution – Petroleum Production Blue Revolution – Fish Production Brown Revolution – Leather/non-conventional(India)/Cocoa production Golden Fibre Revolution – Jute Production Golden Revolution – Fruits/Overall Horticulture development/Honey Production Green Revolution – Food grains Grey Revolution – Fertilizer Pink Revolution – Meat Production – some also refer it to prawns/onion/pharmaceuticals production Round Revolution – Potato Silver Fiber Revolution – Cotton Silver Revolution – Egg/Poultry Production White Revolution (In India: Operation Flood) – Milk/Dairy production Yellow Revolution – Oil Seeds production