economy

Unshackling the Indian Rupee

Context Since 2022, the Reserve Bank of India (RBI) has been intervening in the foreign exchange market to maintain the stability of the rupee. This intervention includes buying and selling dollars to control the currency’s movement. The RBI's actions have...

How Dedicated Freight Corridors are adding to GDP Growth

What are Dedicated Freight Corridors (DFCs)? They are specialised railway routes designed exclusively for freight transport. They enable faster and more efficient movement of goods. The creation of DFCs was announced in the Railway Budget for FY 2005-06. Dr. Manmohan...

Paradox Of Stagnant Rural Wages

The Indian economy has experienced notable growth from 2019-20 to 2023-24, with an average annual rate of 4.6% and a more robust 7.8% in the last three fiscal years. However, this economic expansion has not translated into significant improvements in...

Human Development Report (HDR) 2023-24 India’s Rank

Highlight of the Human Development Report 2024 India’s rank is 134 out of 193 countries The report categorised India under the medium human development bracket with an HDI value of 0.644. India’s HDI value stagnated at 638 in 2019-2020, fell...

Modified UBI Policy may be more Feasible

What is Meant by Universal Basic Income (UBI)? It is a form of guaranteed income where every citizen or resident of a country is provided with a fixed, unconditional amount of money on a regular basis, regardless of any other...

Nobel Prize in Economics 2024 for an explanation of Why Nations Fail or Succeed

Context The Royal Swedish Academy of Sciences awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2024 to Daron Acemoglu, Simon Johnson, and James A Robinson, three economists based in the United States. Their work...

Safeguarding Gig Workers: Current Status and Background

The Union Ministry of Labour and Employment is in the process of drafting a national law aimed at incorporating gig workers into social security schemes. This initiative is designed to provide essential benefits such as health insurance and retirement savings...

List of Finance Ministers of India 1947 to 2024

The Finance Ministry of India is an important part of the government, managing the budget, finances, and economic planning. Finance Ministers have greatly influenced India's economy over the years. This article looks at the Finance Ministers from 1947 to 2024,...

Middle Income Trap, Key Factors and Challenges for India

Middle Income Trap The middle-income trap is a situation where a country that attains a certain income gets stuck at that middle-income level and is unable to transition to a high-income level. Or The World Bank defines middle-income economies as...

Why heat, not rain, matters more for Inflation and Rural Demand

Context: Temperatures, more than rainfall or reservoir levels, have become the dominant factor in predicting food production and inflation in India. More in News Rising average temperatures and increasing volatility are strongly correlated with declining crop yields and rising food...