Terms of Trade (ToT)
Terms of Trade for Indian Agriculture = Movement in prices of farm commodities relative to that of non-farm goods and services. So, if ToT is improving for Indian agriculture that means farmers are benefiting more as compared to the non-farm sector. If say inflation is 4% and ToT for farmers has improved that means the agriculture commodities that the farmers are producing and selling is fetching them more income, and the farmers various expenses on non-farm goods and services is increasing less. So, overall the farmers will be better-off.
How to Calculate ToT for agriculture sector?
We know Gross Value Addition (GVA) for agriculture at constant and current price. If we divide GVA for agriculture at current price by constant price then it will give inflation (deflator) in agriculture sector (as compared from the base year).
In the same way we can calculate inflation (deflator) for non-farm goods and services.
To get ToT for agriculture sector divide deflator of agriculture sector by non-farm goods and services.
NITI Aayog member Ramesh Chand has shown that ToT for Indian Agriculture has improved in the last 20 years.
Just a fact: Indian Agriculture real growth has been around 3.7% from 2005-06 to 2021-22.
https://bit.ly/3SdghTR
Terms of Trade for Indian Agriculture = Movement in prices of farm commodities relative to that of non-farm goods and services. So, if ToT is improving for Indian agriculture that means farmers are benefiting more as compared to the non-farm sector. If say inflation is 4% and ToT for farmers has improved that means the agriculture commodities that the farmers are producing and selling is fetching them more income, and the farmers various expenses on non-farm goods and services is increasing less. So, overall the farmers will be better-off.
How to Calculate ToT for agriculture sector?
We know Gross Value Addition (GVA) for agriculture at constant and current price. If we divide GVA for agriculture at current price by constant price then it will give inflation (deflator) in agriculture sector (as compared from the base year).
In the same way we can calculate inflation (deflator) for non-farm goods and services.
To get ToT for agriculture sector divide deflator of agriculture sector by non-farm goods and services.
NITI Aayog member Ramesh Chand has shown that ToT for Indian Agriculture has improved in the last 20 years.
Just a fact: Indian Agriculture real growth has been around 3.7% from 2005-06 to 2021-22.
https://bit.ly/3SdghTR
Unacademy
UPSC Coaching in Karol Bagh - Best IAS Coaching in Karol Bagh
UPSC Coaching in Karol Bagh: Discover the best UPSC coaching center in Karol Bagh offering expert guidance and comprehensive courses for aspirants aiming to crack UPSC 2024.
Logistics Ease Across Different State (LEADS) Report is released by NITI Aayog
Final Results
69%
(a) True
31%
(b) False
Logistics Ease Across Different State (LEADS) Report is released by Ministry of Commerce and Industry.
UPSC Interview 2023
All those students who are appearing for the interview next year in Jan/Feb, please read all the news that I have posted on this telegram channel since last 6 months. No need to go into too much factual detail but analyse the news from macro perspective and develop your own balanced view may be through discussions within your group. Pls do not be very selective in choosing the topics rather read all the news thoroughly which have been posted in the last 6 months may be from May/June 2023 onwards.
In case of any doubts, you can contact me on telegram id @viveksingheconomy
Best of Luck👍
https://bit.ly/3SdghTR
All those students who are appearing for the interview next year in Jan/Feb, please read all the news that I have posted on this telegram channel since last 6 months. No need to go into too much factual detail but analyse the news from macro perspective and develop your own balanced view may be through discussions within your group. Pls do not be very selective in choosing the topics rather read all the news thoroughly which have been posted in the last 6 months may be from May/June 2023 onwards.
In case of any doubts, you can contact me on telegram id @viveksingheconomy
Best of Luck👍
https://bit.ly/3SdghTR
Unacademy
UPSC Coaching in Karol Bagh - Best IAS Coaching in Karol Bagh
UPSC Coaching in Karol Bagh: Discover the best UPSC coaching center in Karol Bagh offering expert guidance and comprehensive courses for aspirants aiming to crack UPSC 2024.
In continuation of the above article............... "Employment generation, coupled with improving the quality of jobs, is a priority. Following this path, the organised sector job market conditions measured by the EPFO and the NPS subscriptions indicate a year-on-year increase, pointing towards improved formalisation. Labour market indicators have improved beyond pre-Covid levels, with the unemployment rate falling and the labour force participation rate increasing."
Source: Indian Express
A good article to read. Its from an essay published by CEA Office.
https://bit.ly/3SdghTR
Source: Indian Express
A good article to read. Its from an essay published by CEA Office.
https://bit.ly/3SdghTR
Source: Indian Express
Sovereign Ratings are about the creditworthiness of the governments (ability and willingness to payback the debt) but it also matters for the businesses in that country. If the sovereign rating of the government of a country is low, then while borrowing from global investors, the government will have to pay higher interest rate and the interest rate will be higher for businesses also.
Those who are appearing for interview should read the entire article but otherwise students can focus just on the first column.
https://bit.ly/3SdghTR
Sovereign Ratings are about the creditworthiness of the governments (ability and willingness to payback the debt) but it also matters for the businesses in that country. If the sovereign rating of the government of a country is low, then while borrowing from global investors, the government will have to pay higher interest rate and the interest rate will be higher for businesses also.
Those who are appearing for interview should read the entire article but otherwise students can focus just on the first column.
https://bit.ly/3SdghTR
India's share (%) in merchandise, services and total exports as a percentage of world exports. For example, India's share in world merchandise exports in 2022 was 1.8%
https://bit.ly/3SdghTR
https://bit.ly/3SdghTR
A small correction in book and some previous posts:
1. RBI approval is required for appointment of Chairman/Whole-time Director/Managing Director/CEO in case of all Primary/Urban Cooperative Banks (UCBs) with deposit size of ₹100 crore and above.
2. In public interest and to protect the interest of the depositors, if required, RBI can supersede the Board of multi state Primary/Urban Cooperative Banks.
RBI approval is not required for appointing MD/CEO in case of State Cooperative Banks (StCB) and District Central Cooperative Banks (DCCB) and neither it can supersede its Board.
https://bit.ly/3SdghTR
1. RBI approval is required for appointment of Chairman/Whole-time Director/Managing Director/CEO in case of all Primary/Urban Cooperative Banks (UCBs) with deposit size of ₹100 crore and above.
2. In public interest and to protect the interest of the depositors, if required, RBI can supersede the Board of multi state Primary/Urban Cooperative Banks.
RBI approval is not required for appointing MD/CEO in case of State Cooperative Banks (StCB) and District Central Cooperative Banks (DCCB) and neither it can supersede its Board.
https://bit.ly/3SdghTR
Unacademy
UPSC Coaching in Karol Bagh - Best IAS Coaching in Karol Bagh
UPSC Coaching in Karol Bagh: Discover the best UPSC coaching center in Karol Bagh offering expert guidance and comprehensive courses for aspirants aiming to crack UPSC 2024.
Wish you all a very happy New year 2024.
Updated Economy questions "ECO 550" for UPSC Prelims 2024 will be released on 15th Feb.
https://bit.ly/3SdghTR
Updated Economy questions "ECO 550" for UPSC Prelims 2024 will be released on 15th Feb.
https://bit.ly/3SdghTR
Unacademy
UPSC Coaching in Karol Bagh - Best IAS Coaching in Karol Bagh
UPSC Coaching in Karol Bagh: Discover the best UPSC coaching center in Karol Bagh offering expert guidance and comprehensive courses for aspirants aiming to crack UPSC 2024.
Source: Indian Express
A very good article on 'Income Support' and (Universal Basic Income) UBI. Technically both are same but generally UBI is universal and 'Income Support' may be provided to a certain class/group of people.
Self Explanatory.
https://bit.ly/3SdghTR
A very good article on 'Income Support' and (Universal Basic Income) UBI. Technically both are same but generally UBI is universal and 'Income Support' may be provided to a certain class/group of people.
Self Explanatory.
https://bit.ly/3SdghTR
Source: The Hindu
Post 1960s.. Govt. of India reserved toys and various other products to be produced only by MSMEs. This led to inefficiency and costly toys but the MSME industry was surviving because it was also protected from imports through 200% import duty. But post 1991 and after WTO (1995)... India reduced import duty and our MSMEs got wiped out and the domestic market was captured by cheap Chinese toys.
Post 2014.... Govt. is reviving the Toy industry through the various measures discussed in the article.
https://bit.ly/3SdghTR
Post 1960s.. Govt. of India reserved toys and various other products to be produced only by MSMEs. This led to inefficiency and costly toys but the MSME industry was surviving because it was also protected from imports through 200% import duty. But post 1991 and after WTO (1995)... India reduced import duty and our MSMEs got wiped out and the domestic market was captured by cheap Chinese toys.
Post 2014.... Govt. is reviving the Toy industry through the various measures discussed in the article.
https://bit.ly/3SdghTR
Source: Indian Express
A good article to read on what aspects are considered to measure the inequality and how can we say that inequality is declining in India.
https://bit.ly/3SdghTR
A good article to read on what aspects are considered to measure the inequality and how can we say that inequality is declining in India.
https://bit.ly/3SdghTR
Bharat Atta, Bharat Dal
Govt. of India (Ministry of Consumer Affairs, Food and Public Distribution) has taken several measures to make Atta, Dal available to consumers at affordable prices. Government, through the physical and mobile outlets of Kendriya Bhandar, National Agricultural Cooperative Marketing Federation (NAFED) and National Cooperative Consumers Federation (NCCF), is selling Atta [Rs. 27.5/kg] and Dal (pulses) [Rs. 60/kg] under 'Bharat' Brand name at a regulated/affordable prices to the people.
2.5 Lakh Tonne of wheat @ Rs.21.50/kg has been allocated for Semi-Government and cooperative organizations i.e. Kendriya Bhandar, NCCF and NAFED under Open Market Sale Scheme [OMSS] [https://t.me/VivekSingh_Economy/4148] for converting to atta and offer it for sale to the public under 'Bharat Atta' brand at an MRP not exceeding ₹ 27.50/Kg.
https://bit.ly/3SdghTR
Govt. of India (Ministry of Consumer Affairs, Food and Public Distribution) has taken several measures to make Atta, Dal available to consumers at affordable prices. Government, through the physical and mobile outlets of Kendriya Bhandar, National Agricultural Cooperative Marketing Federation (NAFED) and National Cooperative Consumers Federation (NCCF), is selling Atta [Rs. 27.5/kg] and Dal (pulses) [Rs. 60/kg] under 'Bharat' Brand name at a regulated/affordable prices to the people.
2.5 Lakh Tonne of wheat @ Rs.21.50/kg has been allocated for Semi-Government and cooperative organizations i.e. Kendriya Bhandar, NCCF and NAFED under Open Market Sale Scheme [OMSS] [https://t.me/VivekSingh_Economy/4148] for converting to atta and offer it for sale to the public under 'Bharat Atta' brand at an MRP not exceeding ₹ 27.50/Kg.
https://bit.ly/3SdghTR
Unacademy
UPSC Coaching in Karol Bagh - Best IAS Coaching in Karol Bagh
UPSC Coaching in Karol Bagh: Discover the best UPSC coaching center in Karol Bagh offering expert guidance and comprehensive courses for aspirants aiming to crack UPSC 2024.
Source: LiveMint
Present production of pulses is approx 27.5 MT (Million Tonne)
Imports = 10% = 2.5 to 2.75 MT
India is planning to be self sufficient in pulses by 2027 and may be net exporter. To motivate farmers to grow pulses, Govt. has launched a portal where farmers can register and can sell their produce directly to Central Agencies (FCI and others) at MSP. Govt. (FCI) generally does not procure pulses in the APMC mandis as is done for Wheat and Rice.
https://bit.ly/3SdghTR
Present production of pulses is approx 27.5 MT (Million Tonne)
Imports = 10% = 2.5 to 2.75 MT
India is planning to be self sufficient in pulses by 2027 and may be net exporter. To motivate farmers to grow pulses, Govt. has launched a portal where farmers can register and can sell their produce directly to Central Agencies (FCI and others) at MSP. Govt. (FCI) generally does not procure pulses in the APMC mandis as is done for Wheat and Rice.
https://bit.ly/3SdghTR