Non-universal targeted programs It is true that a universal schemes are easy to implement. Non-universal targeted programmes face the problem of identification. Narrowly-targeted programmes will run into complex problems of identification. And the problem of identification gives rise to exclusion and inclusion errors. How to solve identification problem There are three proposals which meet the …
India China Average effectively applied tariff rate as per World Bank 10.2% 5.39% Per Capita GDP in 2001 $451.6 $1053.1 Per Capita GDP in 2020 $1927.7 $10,434.8 Share in export of goods and services ~2% 12.1% Labour Force Participation Rate in 2001 57.64% 76.66% Labour Force Participation Rate in 2020 46.29% 66.82% Women Labour Force Participation …
India Vs China in Trade and Employment – UPSC GS3 Read More »
Background: India has moved up from 142 among 189 nations in 2014 to 63 in 2019 in the World Bank’s ranking. Steps taken so far to improve ease of doing business in India: Cutting down outdated procedures Infusing transparency Minimizing citizen-state interface Reducing bureaucratic discretion at the sub-national level up to local bodies. Ranking of …
Ease of Doing Business : Achievements and Challenges – UPSC GS3 Read More »
Context: Govt. unveiled the National Monetisation Programme (NMP) under which ₹6 trillion is expected to be raised by leasing core assets of the Central government over the course of four years (FY2022 to FY2025). Facts about CPSUs: There are 256 operationally-run central public sector undertakings (CPSUs), employing about one million people. Out of these, 96 have been …
Recent Reforms: Reforming banking sector: Insolvency and Bankruptcy Code(IBC): Since its enactment in 2016, it helped recover Rs 2.5 trillion from corporate defaulters, yielding a recovery rate of 36% as of June 2021. Government recapitalized banks and empowered debt recovery tribunals(DRT). A dedicated Stressed Asset Management Vertical was formed. Reforming infrastructure: Asset Monetisation Program for revenue generation, Productivity Linked Incentive(PLI) Scheme …
Context: India is witnessing a K-Shaped recovery instead of a V-Shaped recovery. A V-shaped recovery is characterized by quick and effective recovery in measures of economic performance after an acute decline in the economy. A K-shaped recovery is characterised by quick recovery in few sectors and stagnation or decay in other sectors. Indications of a …
Why India is witnessing a K-Shaped recovery? – UPSC GS3 Read More »
How demonetisation was a failure? Disruption: The demonetisation in 2016 caused widespread disruption in the economy. For instance, personal hardship, the loss of income and savings, and economic slowdown. Very little of its declared objectives were achieved such as eliminating black money, corruption, moving towards a “less cash and more digital economy”, or increased tax compliance. …
The World Bank has released a report titled ‘The Changing Wealth of Nations 2021’. The report is a periodic evaluation of wealth generation and distribution beyond the traditional GDP matrix and includes natural resources as part of a country’s wealth. What are the key findings of the report? Increase in Wealth: Wealth has increased significantly across the …
India Before Liberalization: The important sectors of the economy were reserved for the public sector, and the private sector could not invest in them even if it wanted. In all other sectors, private companies could make new investments, but only if they got industrial licenses from the government. However, these were given on a very …
NITI Aayog has prepared a Draft National Policy on Migrant workers. Issues with the Existing Law on Migrants: Inter-State Migrant Workers Act, 1979 It was designed to protect labourers from exploitation by contractors. It safeguards their right to non-discriminatory wages, travel and displacement allowances, and suitable working conditions. However, this law covers only labourers migrating …
Draft National Policy on Migrant workers – UPSC GS3 Read More »