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

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

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

Source: The Hindu
https://bit.ly/3SdghTR

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

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

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

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

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

Source: Indian Express

In India and majority of countries, poverty is measured through Expenditure/income approach. The multidimensional poverty reported in the newspaper above is based on 'DEPRIVATIONS' approach. The real poverty estimates we will come to know only when the report is released based on 'Household Consumption expenditure survey'. Please see the links below to get a an overall idea of measuring poverty in India.

https://t.me/VivekSingh_Economy/4246
https://t.me/VivekSingh_Economy/4205

https://bit.ly/3SdghTR

Jay Shree Ram

Some Facts:
(These are approx. figures for 2022-23)

Central Tax to GDP ratio = 11%
Central Direct tax to GDP ratio = 6.1%
Central Indirect tax to GDP ratio = 4.9%

In the overall tax collections by the central government, direct tax collections accounted for 54.62 per cent share in financial year 2022-23, a four-year high. A higher direct taxes-to-indirect taxes ratio is considered progressive as indirect taxation hurts the poor more than direct taxes.[Indirect taxes are regressive]

States Tax to GDP ratio = 5%

(Centre + State) Tax to GDP ratio = (11% + 5%) = 16%

Central Direct Tax Buoyancy = %change in direct taxes / % change in nominal GDP

= 17.8% / 15.1% = 1.18

https://bit.ly/3SdghTR

Source: Indian Express
Read only the highlighted part.

Now Indian companies can list their shares on International Exchanges in the GIFT-IFSC and raise foreign capital (in foreign currency). The international exchanges allowed to list securities (equity/shares) of Indian Companies in GIFT-IFSC are:

(i) India International Exchange
(ii) NSE International Exchange

Earlier Indian companies had to go to international financial markets like London, Singapore etc. to raise cheaper foreign capital.
https://t.me/VivekSingh_Economy/3277

https://bit.ly/3SdghTR

ECO 500 MCQ PDF for 2024 UPSC Exam will be released by 20th Feb.

Source: Indian Express
Just read once.
https://bit.ly/3SdghTR