Pitfalls of Estimating GDP: A Cautionary Tale Sub :Eco Sec: National Income/ economy Significance of GDP: Gross Domestic Product (GDP) is the most important measure of a country’s economic size. It serves as a universal denominator for comparing economic indicators like tax burdens or welfare expenditures across countries. Base Year Revisions: Every 5-10 […]

    Is the Spike in India’s Trade Deficit a Cause for Concern? Sub: Eco Sec: External Sector Why This in News India has recently witnessed a significant rise in its trade deficit, reaching a nine-month high in July 2024, followed by a further increase in August. This surge, driven by declining exports and rising […]

    India Not an ‘Abuser’ of Tariffs: GTRI Counters Trump’s Claims Sub: Eco Sec: External Sector  Former U.S. President Donald Trump’s Statement: Trump recently labeled India as an “abuser” of import tariffs. This echoes his October 2020 statement where he referred to India as the “tariff king.” The Global Trade Research Initiative (GTRI) has […]

    White Revolution 2.0 to empower women: Amit Shah Sub: Eco Sec: Agri Context: Union Home and Cooperation Minister Amit Shah recently launched the standard operating procedure (SOP) for ‘White Revolution 2.0’, a scheme aimed at boosting India’s dairy sector. White Revolution 2.0- Empowering Women and Fighting Malnutrition: Main Objectives: Empower women through formal […]

    Committee on MSP Proposals and Key Developments in Agriculture Sub: Eco Sec: Agri  Ongoing Work on Legalised MSP: Union Agriculture Minister highlighted that while there is no commitment yet on the demand for a legalised Minimum Support Price (MSP), a committee is actively working on the issue. The committee, led by former Agriculture […]

    Why the US Fed Cut Interest Rates and its Potential Impact on India Sub: Eco Sec: External Sector US Federal Reserve (Fed) Cuts Interest Rates: The US Federal Reserve cut the Federal Funds Rate by 50 basis points (0.5%). Lower interest rates incentivize economic activity, promote growth, and increase job creation by making […]