Fiscal Deficit Subject – Economy Context – Fiscal deficit touches 35% of annual budget target Concept – Fiscal Deficit The government describes fiscal deficit of India as “the excess of total disbursements from the Consolidated Fund of India, excluding repayment of the debt, over total receipts into the Fund (excluding the debt receipts) during a financial year”. The government […]

    Core sectors Subject – Economy Context – Sept core sector growth drops to 4.4% YoY as rains affect infra activity Concept – Core industry can be defined as the main industry which has a multiplier effect on the economy. In most countries, there is particular industry that seems to be backbone of all other industries and it qualifies […]

    RBI Governor Subject – Economy Context – The three-year term extension given to Reserve Bank of India (RBI) Shaktikanta Das Concept – RBI Governor Appointment Procedure – In India, the process is entirely a political one. Though an Appointments Committee is the formal vehicle designated to shortlist candidates for the job, in reality, […]

    Gini coefficient Subject – Economy Context – Although SARS in 2003, H1N1 in 2009, MERS in 2012, Ebola in 2014, and Zika in 2016 were much smaller in scale than the ongoing pandemic, they led to increases in the Gini coefficient. Concept – The Gini index, or Gini coefficient, is a measure of […]

    Agreement on Safeguards Subject – Economy Context – EU steel tariff extension: India may strike back Concept – The Agreement on Safeguards (“SG Agreement”) sets forth the rules for application of safeguard measures pursuant to Article XIX of GATT 1994. Safeguard measures are defined as “emergency” actions with respect to increased imports of […]