What is GDP? Elaborate upon the factors affecting the GDP growth with a special emphasis on role of technological advancement.

Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. 3. What is GDP? Elaborate upon the factors affecting the GDP growth with a special emphasis on role of technological advancement. (250 words) Difficulty level: Easy Reference: Insights on India Why the question: The question is part of the static …

Insights into Editorial: We need a way to measure true human progress

    Introduction: The ultimate aim of economic and social policy is to improve the lives of people, and to enhance their choices and capabilities. Since measuring human progress facilitates this goal, it has been an abiding interest of all. Human Development Reports since 1990. Measurement is a challenging task, however, fraught with myriad statistical …

Insights into Editorial: An urban jobs safety net

      Context: Hit by a relentless second wave of COVID-19 infections, India has seen localised lockdowns across several States. With activity restrained, job losses have climbed. This has dampened family incomes and consumer sentiment, setting the stage for lower-than-anticipated economic growth and belying the nation’s hopes of racing back to activity this year …

Insights into Editorial: Growth matters but income levels matter more

  Introduction: The provisional estimates of annual national income (2020-21), released on May 31 by the National Statistical Office, did not have any surprises, but for one, that is, there is nothing encouraging in the numbers. India’s Gross Domestic Product (GDP) contracted 7.3% in 2020-21, as per provisional National Income estimates released by the National …

Insights into Editorial: The rural economy can jump-start a revival

    Context: The second wave of the COVID-19 pandemic could be slowly receding with a decline in the official estimates of daily infections and deaths. The economy is also very gradually getting back to normal, with many States beginning to ease some of the restrictions imposed in their lockdowns. However, the challenge of an …

Insights into Editorial: GDP shrinks by 7.3%; Q4 uptick moderates 2020­21 carnage

  Context: India’s Gross Domestic Product (GDP) contracted by 7.3% in 2020-21, as per provisional National Income estimates released by the National Statistical Office, marginally better than the 8% contraction in the economy projected earlier. GDP growth in 2019-20, prior to the COVID-19 pandemic, was 4%. The Gross Value Added (GVA) in the economy shrank …

Insights into Editorial: Economic revival beating predictions: RBI bulletin

  Context: There is now more evidence to show that the Indian economy “is pulling out of COVID-19’s deep abyss and is reflating” at a pace that beats most predictions, RBI officials, including Deputy Governor said in an article in the central bank’s monthly bulletin. RBI released an article titled “State of the Economy” stating …

Insights into Editorial: Economic package math: It’s 10% of GDP but about half is already factored in

Context: The Rs 20-lakh crore package announced by Prime Minister Narendra Modi sounds big but will burn only a small hole in the government’s finances. A large part of it, or as much as Rs 8.04 lakh crore, is additional liquidity injected into the system by the Reserve Bank of India through various measures in …