News: On March 8, the RBI launched a renewed payments service for feature phones. The service called UPI123Pay was a successor to BHIM USSD 2.0 service, which allows feature phones to make payments using interactive voice response (IVR), app functionality, missed calls, and proximity sound-based payments. Why has the RBI launched the payment service for… Continue reading Mobile internet user growth slowed down drastically in 2021, shows data
Tag: gs paper 3
Shock-proofing the economy: Quality jobs the best possible safety net
Context: India’s policy must be aligned with the present realities to make its economy shock proof to any external development. India has gone through a number of crises in the Indian economy since 1962. For Example like India fought three wars, suffered droughts, first oil shock, double-digit inflation, which peaked at 26 per cent, imposition… Continue reading Shock-proofing the economy: Quality jobs the best possible safety net
Shutdown this misguided energy policy
News: On March 3, a fire broke out near the Zaporizhzhia nuclear plant in Ukraine during the course of a military battle that could have triggered a major nuclear disaster. Trends of Nuclear Accident in the Past On March 11, 2011, the Fukushima Daiichi nuclear plant suffered severe accidents after an earthquake and a tsunami… Continue reading Shutdown this misguided energy policy
Unshackling the creative sector
News: A report commissioned by YouTube (YT), provide a glimpse of the “creator economy” in India. Scope of YouTube Channels in India YouTube platform hosts around 40,000 Indian channels with over 1 lakh subscribers and the number of channels earning revenues in excess of Rs 1 lakh jumped by 60 per cent year-on-year in June… Continue reading Unshackling the creative sector
Addressing uncertainty – Necessary changes in GST must be made in time
News: The Goods and Service Tax (GST) is going to complete its five years in a few months. Therefore, it has triggered a debate for big structural change in the system. GST was expected to reduce complications in the indirect tax system, contain tax evasion, and boost revenue and economic growth over time. However, it… Continue reading Addressing uncertainty – Necessary changes in GST must be made in time
Why society gains when start-ups fail
Context: Start-up culture should be promoted in India. It is economically beneficial without any harm. Status of start-ups investment in India in 2021 India attracted $77 billion worth of private equity investment in 2021. Out of this around $42 billion was gone to early-stage ventures. Why do we need to have start-ups? Most start-ups are… Continue reading Why society gains when start-ups fail
Water Management needs a Hydro Social Approach
News: The fact that freshwater resources are under stress is very widely acknowledged, and also that the principal driving force behind this situation are human activities in their various forms. According to the IPCC estimates the gap between demand for and supply of fresh water may reach up to 40% by 2030 if present practices… Continue reading Water Management needs a Hydro Social Approach
An alternative export strategy
News: In a recent interview Raghuram Rajan, the former governor of the Reserve Bank of India, has suggested that India should focus primarily on exports of information technology-enabled services (ITeS) along with professional services such as consultancy, legal, medicine, accounting, etc. Contents1 What are the problems associated with making service export as the mainstay of… Continue reading An alternative export strategy
Managing the rupee
News: Due to Russian Invasion of Ukraine, US imposed a ban on energy imports from Russia and its other allies could do the same. Their corporations in the energy sector are moving out of Russia. It could permanently reshape the dynamics of energy sector. Energy prices might stay elevated in the foreseeable future even if… Continue reading Managing the rupee
Global stagflation risk
IMF had already reduced the global growth outlook due to the Omicron variant to 4.4%, now after the Ukraine crisis situation has become much worse. How Russian invasion of Ukraine is affecting the global economic scenario? Read – Sanctions and their Effectiveness – Explained, pointwise Sanctions on Russia have led to a drastic fall of… Continue reading Global stagflation risk
