Category: ECONOMY-2

Context: The agricultural education system needs to be redefined in India. Introduction: Agricultural education is the teaching of agriculture, natural resources, and land management. The Indian Council of Agriculture Research (ICAR) is the apex body for agriculture education, research and farm extension in India. Need for agriculture education: Education increases knowledge or information and it… Continue reading Redefining agricultural education in changed scenario

Context: The Union government is mulling a revision in the formula to calculate minimum wages that may increase income levels of workers across the country. Introduction: The Central Advisory Committee on Minimum Wages, headed by Labour and Employment Minister  Bandaru Dattatreya, decided to constitute a committee to deliberate the proposed changes in the calculations of… Continue reading Labour ministry forms panel to relook at minimum wage fixation formula

Context: Advancing rights of women farmers can revolutionize the rural ecosystem. Most importantly, if female farmers are provided security of land tenure, they will be officially recognized as farmers and will result in increased productivity and improve household food security and nutrition.  Current Status of Women in Indian Agriculture: The stereotypical image of an Indian… Continue reading A new image for the “Indian farmer”

Context: The government has started framing a new telecom policy by the end of December, 2017. The Centre will consider including a ‘one-nation one-license’ regime in the new telecom policy. India’s telecommunication network: India’s telecommunication network is the second largest in the world by number of telephone users (both fixed and mobile phone). Major sectors of the… Continue reading ‘One Nation, One License’: Center sets for a fresh policy

There have been many instances of turf wars among direct regulators and bodies across the industries in India. For example, the ongoing turf war between the Competition Commission of India (CCI) and the TRAI (Telecom Regulatory Authority of India). Who are the regulatory bodies? A competition regulator or regulator is a government agency, typically a… Continue reading Competition among the regulators

Context NITI Aayog to formulate a roadmap for transition to methanol made from coal, based on the alternative fuel’s use in China Introduction: The Road Transport and Highways Minister Nitin Gadkari on Monday held a high-level stakeholders meeting to deliberate upon a strategy to use methanol as an alternative fuel in automobiles. At a high… Continue reading India towards a methanol economy

Context: Recently, the Ministry of Housing flagged off a new index-The National Housing Bank Residex, designed to track housing price trends in 50 cities across India. Introduction: NHB Residex that captures movements in the prices of residential real estate prices revealed that prices during January-March, 2017 have increased over that of October-December, 2016, in about… Continue reading NHB Residex shows increase in housing prices

Context The report of the Financial Intelligence Unit (FIU), stated that fake notes and cross-border fund transfers in the country’s economic channels doubled in the last fiscal year, leading to the unearthing of over Rs. 560 crore in black money. Finding of the report The report of the FIU, the premier technical investigation wing under… Continue reading The Detection and reporting of suspicious transactions by FIU

Context: India’s financial sector regulators should stop hindering ideas in the financial technology sector and instead opt for a regulatory sandbox approach to nurture innovative financial technology applications, Niti Aayog CEO Amitabh Kant said recently. Financial sector of India – An overview Financial sector is the backbone of any economy and it plays a crucial… Continue reading Financial sector regulator in India

Tax evasion is a criminal activity by individuals, corporate, trusts and other entities to evade taxes by illegal means. It is the deliberate, misrepresentation or concealment of the true state of their financial affairs to the tax authorities to reduce their tax liability.It is all about avoiding the tax liability by declaring less incomes, profits… Continue reading Tax Evasion