economy

Index of Service Production (ISP): Need, Methodology, Sectors and Importance

Context The Ministry of Statistics and Programme Implementation (MoSPI) has released an 'Approach Paper' outlining its plan to measure the output of India's formal services sector every month through a new Index of Service Production (ISP). The index will use...

Rise of Orange Economy in India: Key Sectors, Impact and Challenges

India is shifting its growth strategy to centralize creativity, culture, and content through the Orange Economy, aiming to transform its vast cultural assets into scalable global Intellectual Property (IP). What is Orange Economy? Orange Economy refers to economic activities that...

Payments Bank Regulation – Paytm Payments Bank Licence Cancelled by RBI

Context The Reserve Bank of India (RBI) has officially cancelled the banking licence of Paytm Payments Bank Limited, under the Banking Regulation Act, 1949, due to persistent non-compliance with licensing conditions. The Reserve Bank of India (RBI) has cancelled the...

Informal Sector in India: Economic Significance, Key Issues and Challenges

Context: Recent worker protests in Noida have highlighted growing vulnerabilities in India’s urban informal workforce. Informal Sector in India Definition and Scope The informal sector refers to economic activities that operate outside formal regulatory and institutional frameworks. It includes self-employed...

Tobacco Use and Poverty in India: Economic Burden, Health Impact and Policy Measures

Context: A study in BMJ Global Health by researchers from ICMR-NICPR and TISS highlights the economic toll of tobacco use in India. It estimates that nearly one in ten households could move into a higher income category if tobacco consumption...

Strengthening India’s Food Processing Ecosystem: Policies, Challenges and Growth

Context: The Ministry of Food Processing Industries has reported that the Production-Linked Incentive Scheme (PLISFPI) has significantly outperformed its targets, creating 3.39 lakh jobs against a goal of 2.5 lakh by 2026. Factsheet Economic Contribution: The Gross Value Added (GVA)...

India’s Shift Toward State-Wise Agricultural Roadmaps: Significance and Key Features

Context: India is shifting from a one-size-fits-all agricultural policy to state-wise agricultural roadmaps to improve regional productivity, climate resilience, and implementation. Significance of India’s Agriculture Sector Agriculture and allied activities contribute nearly 18% to India’s Gross Value Added (GVA). Employment:...

Nationalisation of Banks in India: History, Reasons and Features

Context: The 55th anniversary of bank nationalisation in India remains a subject of intense economic debate, as the move continues to be regarded as one of the most transformative decisions since 1947. Nationalisation of Banks in India Definition Bank nationalisation...

Minimum Wage Crisis in India: Causes, Impact and Policy Challenges

Context Thousands of factory workers in Noida staged protests demanding: Minimum wage hikes Better working conditions Overtime pay The protests turned violent in several instances, indicating rising frustration among workers. Immediate Trigger: A 35% minimum wage hike in Haryana (after...

Indian Middle Class Remains Economically Vulnerable: Causes and Challenges

Context: Recent economic debates and policy discussions suggest that although India’s economic expansion has significantly reduced extreme poverty, it has also produced a large section of households that can be described as a “vulnerable middle class.” Indian Middle Class Remains...