economy

16th Finance Commission, Constitution, Terms of Reference, Challenges 

The Finance Commission, a constitutionally mandated body established under Article 280 of the Constitution, plays a pivotal role in shaping financial relations between the central and state governments in India.16th Finance Commission was constituted on December 31, 2023, headed by...

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...

CPI Inflation Rates, Components, Significance and Concerns

Context: India’s Consumer Price Index (CPI) based inflation rate touched 5.7% in December 2023. What Is CPI Inflation? The consumer price index measures “changes over time in the general level of prices of a basket of selected goods and services...

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...

Top 10 Largest Economies in the World 2023, Check Here!

As of 2023, the Top 10 Economies in the World include the United States of America, China, Japan, Germany, and India, as measured by their respective Gross Domestic Product (GDP) data. GDP serves as a crucial metric in evaluating the...

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...