economy

Fiscal Federalism – Ongoing Issues, Constitutional Provisions

Context: Kerala Government moved the Supreme Court last year against Centre limiting state's borrowing capacity, and alleged violation Of Fiscal Federalism. The Tamil Nadu Chief Minister recently appreciated Kerala’s action. Fiscal Federalism: An Overview Definition: It refers to the financial...

Increased Tax to GDP Ratio, Reasons, Potential Benefits

Increased Tax to GDP Ratio Context: India’s tax-to-GDP ratio is expected to hit a record high of 11.7% of GDP in 2024-25. Reasons For Increase Growth in Direct Taxes: Increased collections: Direct taxes like income tax and corporate tax are...

Multidimensional Poverty in India, Data, Calculation Method

Context: Finance Minister Nirmala Sitharaman stated that in the last decade, 25 crore people in India have been lifted out of multidimensional poverty. Multidimensional Poverty: Basis For This Assessment Source of Data: NITI Aayog's discussion paper titled 'Multidimensional Poverty in...

Highlights of the Interim Budget 2024-25, Schemes, Initiatives

Highlights of the Interim Budget 2024-25 Social Justice Prime Minister to focus on upliftment of four major castes, that is, ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth) and ‘Annadata’(Farmer). ‘Garib Kalyan, Desh ka Kalyan’ Government assisted 25 crore people out of...

Economic Survey 2024 (Pre-General Election), Indian Economic Review 2024

As India gears up for the Lok Sabha polls and Finance Minister Nirmala Sitharaman prepares to present an interim budget on February 1, 2024, one notable absence in this election year is the traditional Economic Survey. This comprehensive annual report,...

Viksit Bharat, Litmus Test, Data and Facts

Context: The consecration event of Ram temple in Ayodhya is accompanied by hopes for the realisation of Ram Rajya, symbolising communal harmony, women's safety, and the eradication of poverty. Viksit Bharat, Litmus Test: Data And Facts Poverty 2 million Indians...

Income Inequality as Per RBI Report, Key Highlights, Measurement

Context: Recently, the Economic Research Department of the State Bank of India report stated that income inequality has declined in India with a higher tax base and a shift in taxpayers from lower income to higher income tax bracket. Key...

Vibrant Gujarat Global Summit 2024, Trade Show Focus Area, Purpose

On a historic occasion, Prime Minister Narendra Modi ceremoniously opened the Vibrant Gujarat Global Trade Show 2024 in Gandhinagar. Distinguished guests in attendance included President Filipe Nyusi of Mozambique, President José Ramos-Horta of Timor Leste, and Gujarat Chief Minister Bhupendra...

Strongest Currencies In The World List 2023

Currency serves as a medium of exchange for goods and services, regulated by governments or central banks. As of December 2023, the global financial landscape highlights the Kuwaiti Dinar (KWD) as the most valuable, followed by the Bahraini Dinar (BHD),...

Five Year Plans of India List, Objectives and Achievements

Five Year Plans of India The Five-Year Plans were a series of national economic development plans implemented by the Indian government to promote industrialization and economic growth. They were first introduced in India in 1951, shortly after India gained independence...