Category: ECONOMY-2

Patent term extension in India Context: A proposal to extend the already 20-year-long patent term for pharmaceuticals is on the negotiation table of the Regional Comprehensive Economic Partnership (RCEP). Introduction: This week, officials from 16 countries gathered in Hyderabad for negotiations related to an expansive trade deal that endangers hard –won public health safeguards in… Continue reading Patent term extension in India

Context: As India’s challenges mount, the need for institutional reform is vital if the country is to build and sustain an Indian state for the 21st century. Introduction: Public institutions failed in fostering a spirit of inquiry, curiosity and tolerance and excellence Institutions in India covers Parliament, the Presidency, the Judiciary, the Comptroller and Auditor… Continue reading Weak public institutions behind India’s low state capacity

Context: Private healthcare in India usually offers quality service but is often expensive and largely unregulated. Introduction: Niti Aayog and Union health ministry have put forward a public-private partnership (PPP) model for the management of non-communicable diseases in tier 2 and 3 cities across the country, with World Bank will be serving as a technical… Continue reading Niti Aayog’s PPP healthcare model

Context: The official inflation rate in the Indian economy dipped to 1.5% last month, the lowest in almost two decades. Introduction: India’s long-term record in managing inflation has been very impressive when compared with most developing countries. Countries like Israel and Latin American economies have never experienced hyperinflation. The relatively high double-digit inflation experienced between… Continue reading Inflation and its impact on Indian Economy

Context: India will reclaim its position as the fastest growing major global economy this year, partly propelled by benefits from a new tax system and bolstered by an expected central bank interest rate cut. Introduction: The Reserve Bank of India (RBI) will announce monetary policy in less than two week’s time. India’s annual retail inflation… Continue reading India’s economy set to reclaim top spot for growth

Context: Discussion on e-commerce is expected to have a significantly bigger footprint than earlier at the 19th Regional Comprehensive Economic Partnership (RCEP) negotiations. Introduction: Sixteen Asia Pacific nations, including India, are ready to discuss in detail the norms on e-commerce as part of negotiations on the proposed mega Free Trade Agreement know as the Regional… Continue reading E-Commerce to get bigger focus at RCEP talks

Context: The infrastructure sector is the backbone of the Indian economy. The government has been making efforts to boost the sector through various schemes and incentives. Introduction: According to the government, total infrastructure spending is expected to be about 10% of GDP (gross domestic product) during the 12th Five-Year Plan (2012–17), up from 7.6% during… Continue reading GST impact on the infrastructure sector seems to be mixed bag

Context: The framework for a simpler insolvency and bankruptcy code is expected to be drawn up by the Insolvency and Bankruptcy Board of India (IBBI) by the end of this month Introduction: After dealing firmly with large corporate loan defaulters, the government has started drawing up a simpler version of the insolvency and bankruptcy code… Continue reading Government is working on a simpler Insolvency and Bankruptcy Code for SMEs

Context: The Federation of Indian Export Organisations (FIEO), the apex body for the country’s exporters, pointed out that the Goods and Services Tax (GST) regime would impact the liquidity of the exporters and in turn hurt export competitiveness. Introduction: Exporters used to get ab-initio exemptions from duties before implementation of GST. Now, they have to… Continue reading Uncertainty persists for exporters after implementation of GST

Context: The government established a dedicated task force to fill employment data gap and ensure the timely availability of reliable information regarding job creation. Introduction: The task force appointed by the Prime Minister has recommended that traditional Employment-Unemployment Surveys carried out by the National Sample Survey Office (NSSO) every five years be scrapped. The recommendation… Continue reading PM’s task force on Employment data