Economy

Economic growth is inclusive when growth percolates to all the sectors of the economy and the development is not concentrated to certain pockets but in all region.  The growth should reduce the inequality between the rich and the poor. SALIENT FEATURES OF INCLUSIVE GROWTH Participation– People are able to participate fully in economic life and … Read more

The GDP deflator, also called implicit price deflator, is a measure of inflation. It is the ratio of the value of goods and services an economy produces in a particular year at current prices to that of prices that prevailed during the base year. This ratio helps show the extent to which the increase in … Read more

In 1991, India launched a process of economic reforms in response to a fiscal and balance-of-payments (BoP) crisis. The reforms and the related programmes are still going on with changing emphasis and dimensions. The economic reform programme, that India launched, consisted of two categories of measures: Macroeconomic Stabilisation Measures and Structural Reform Measures. POSITIVE IMPACTS … Read more

The Ministry of road transport and highways has taken up detailed review of NHs network with a view to develop the road connectivity to Border areas, development of Coastal roads including road connectivity for Non-Major ports, improvement in the efficiency of National Corridors, development of Economic Corridors, Inter Corridors and Feeder Routes along with integration … Read more

Interim Budget, also known as ‘a vote on account’, essentially means that the government seeks the approval of Parliament for meeting expenditure for the first four months of the fisca l year (April-March) — paying salaries, ongoing programmes in various sectors etc — with no changes in the taxation structure, until a new government takes … Read more

The Ease of Doing Business Rank (EODB) is a measure of an economy’s position to the best regulatory practices. Though World Bank used to publish the ‘Doing Business’ reports from 2003, the ranking of economies started only from 2006. The EODB study tries to capture the experience of small and mid-sized companies in a country with their … Read more

MSMEs are labour intensive, have the advantage of low cost of production and can make good use of locally available resources pushing demand and growth The sector offers wide range of employment opportunities and absorbs most of the working age population Majorly consists of handlooms, handicrafts, coir, sericulture, khadi and village industries, small scale industries … Read more

The period 2000-2010 was a golden period for growth of services in India, one of rapid services-led economic growth in India; the economy grew at an average annual rate of 7.2 per cent, and around 63 per cent of this growth came from growth of services. Such growth leads to a belief that India is … Read more

The decline in agriculture growth is attributed to two consecutive drought years; as 60% of Indian agriculture is rain-fed. A target of 4% growth has been envisaged for agriculture and allied sectors for twelfth plan period, however, the growth was (-) 0.2 per cent in 2014-15 & 1.1% in 2015-16. The depressing situation of agriculture … Read more

JAM Trinity holds the key to one of the biggest pieces of reform ever attempted in India — direct subsidy transfers.  An abbreviation for Jan Dhan Yojana, Aadhaar and Mobile number. The government is pinning its hopes on these three modes of identification to deliver direct benefits to India’s poor.   Benefits of JAM are as … Read more