What is Revenue Deficit?

Revenue Deficit definition:  Revenue deficit arises when the government’s revenue expenditure exceeds the total revenue receipts. Revenue deficit includes those transactions that have a direct impact on a government’s current income and expenditure. This represents that the government’s own earnings are not sufficient to meet the day-to-day operations of its Read More …

What is Receipt Budget?

Receipt Budget meaning:  What are the components of the government budget? From where does the government earn its revenue? Or, what is the government’s overall debt position? Answers to these questions can be best understood from the Receipt Budget, a budget document that shows the revenues, assets, and liabilities of Read More …

Why is India’s labour productivity growth faltering?

Context An analysis done by India Ratings and Research of Annual Survey of Industries data on India’s labour productivity growth in the organised manufacturing sector shows a disappointing trend. Advertising During the high economic growth phase between 2004 and 2008 (just before the global financial crisis hit), India’s labour productivity Read More …

What is trade deficit and what does it signify

Context India decided that it won’t sign the Regional Comprehensive Economic Participation agreement. While India decided to pull out, the other 15 members of RCEP arrived at a consensus and are likely to formally announce the regional trade pact next year. The government claimed that its decision to pull out of RCEP showed Read More …

Livestock Census report

Context Department of Animal Husbandry & Dairying, Ministry of Fisheries, Animal Husbandry and Dairying has released the 20th Livestock Census report. The 20th Livestock Census was conducted in participation with all States and Union Territories. The enumeration was done both in rural and urban areas. The Livestock Census covers all Read More …

Open General Export Licences (OGELs)

Context Recently the Defence Ministery has approved issuance of two Open General Export Licences (OGELs) for export of certain parts and components and intra-company transfer of technology to select countries. The decision will give a boost to defence exports. Details: The OGEL is a one-time export licence to be granted to Read More …

World Bank’s Ease of Doing Business 2020

Context :  Recently India has climbed 14 places, to be ranked 63 among 190 countries, in the World Bank’s Ease of Doing Business 2020 report. It was also among the top ten economies with the most notable improvement in doing business. About Ease of Doing Business (EDB) The EDB, an indicator Read More …

World Economic Outlook (WEO)-2019

Context : Recently IMF’s 2019 World Economic Outlook (WEO) has been released. India’s Outlook The International Monetary Fund cut its estimate for India’s growth this year to 6.1% from 7% projected in July, calling on the country to use monetary policy and broad-based structural reforms to address cyclical weakness and Read More …

Global Hunger Index 2019

Context Recently India is ranked 102 of 117 countries in the Global Hunger Index 2019 Among the BRICS grouping, India is ranked the worst, with China at 25 and a score of just 6.5. Within South Asia, too, India is behind every other country. Sri Lanka, Nepal, Bangladesh and Pakistan Read More …

Global Competitiveness Index 4.0: WEF

Context: The World Economic Forum (WEF) has released the 2019 edition of the Global Competitiveness Report which features the Global Competitiveness Index 4.0 (GCI 4.0). How India has Fared? Global Competitiveness Index 4.0 The World Economic Forum introduced the new Global Competitiveness Index 4.0 in 2018. GCI 4.0 provides a detailed map of Read More …