The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Economic Survey 2018-19 in the Parliament today. The Key Highlights of Economic Survey 2018-19 are as follows: Shifting gears: Private Investment as the Key Driver of Growth, Jobs, Exports and Demand Survey states that pathways for trickle-down opened up during the last five years; and benefits of growth and macroeconomic stability reached the bottom of the pyramid. Sustained real GDP growth rate of 8% needed for a $5 trillion economy by 2024-25. “Virtuous Cycle” of savings, investment and exports catalyzed... Read More...
What is it? The middle income trap is an economic development condition, in which a country that attains a certain income (due to given demographic, technological and resource advantages) is unable to move higher. The World Bank defines as the 'middle-income range' countries with gross national product per capita that has remained between $1,000 to $12,000 at constant (2011) prices. Why does it happen? Read More...
What is nuclear fusion? Without fusion, there would be no life on Earth. What we see as light and feel as warmth is the result of a fusion reaction in the core of our Sun: hydrogen nuclei collide, fuse into heavier helium atoms and release tremendous amounts of energy in the process. In the extreme density and temperature of the stars, including our Sun, fusion occurs. Fusion is the process that powers the sun and the stars: when light atomic nuclei fuse together to form heavier ones, a large amount of energy is released. Where does it take place naturally... Read More...
What is NSM? National Supercomputing Mission is an important initiative by Government of India to boost indigenous efforts to be in the forefront of supercomputing capability for socio-economic development of the nation. The mission jointly steered by Ministry of Electronics and IT and Department of Science & Technology, is being implemented through two leading organizations – Centre for Development of Advanced Computing (C-DAC) and the Indian Institute of Science (IISc), Bangalore with an objective to meet the increasing computing deman... Read More...
What is the status of the India-EU economic relationship? The European Union and India have been negotiating a free trade agreement (FTA)-Bilateral Trade and Investment Agreement (BTIA), since 2007. Despite growing trade between the EU and India, talks stalled in 2013 after 16 rounds, only resuming in 2018. The EU is India’s largest trading partner, accounting for around 13% of India’s total trade in goods in 2017. India is the EU&r... Read More...
In April 2019, the government established the Defence Space Agency, or DSA, to command the space assets of the Army, Navy and Air Force, including the military’s anti-satellite capability. The agency is also to formulate a strategy to protect India’s interests in space, including addressing space-based threats. Government has approved the creation of the Defence Space Research Organisation(DSRO). DSRO will provide technical and research support to its parent organization, the ... Read More...
Vietnam is one of India’s closest international partners and an important component of India’s Act East Policy. Over the last decade, Vietnam has also become a vital part of India’s strategy to counter China’s rise in Asia. There are natural affinities behind closer India-Vietnam ties. Historically, the two countries have had good relations going back to the Vietnam War. During that war, India consistently and vocally supported the Vietnamese cause, much to the irritation of Washington and despite India’s dependence on the Unite... Read More...
What is Food Safety Magic Box? An innovative solution to take food safety to schools, called the ‘Food Safety Magic Box’ was also launched recently. This do-it-yourself food testing kit comprises a manual and equipment to check for food adulterants, which schoolchildren can use in their classroom laboratories. This kit is also useful for frontline health workers. Read More...
The Indo-Pacific region, which houses nearly 60 percent of the world's population, faces both traditional and non-traditional maritime challenges for which India functions as a 'Net Security Provider'. Traditional challenges include unresolved sovereignty issues, territorial disputes, contradictory positions on international norms, maritime muscle flexing and general militarisation of the region. Among the non-traditional challenges, are piracy and maritime terrorism. Read More...
What is Raman 1.0’? It is a new-age, hand-held battery operated device called ‘Raman 1.0’. This device performs rapid detection (in less than 1 minute) of economically driven adulteration in edible oils, fats and ghee. The equipment tests more than 250 samples per battery charge, collects and stores data on the cloud using a smart device. Read More...
What is the scheme? It is the World’s largest government funded healthcare scheme. The center’s flagship scheme has been renamed as PM Jan Arogya Yojana (PMJAY) Implementation Authority: National Health Agency It is the first scheme with the privacy policy with over 100 controls including authentication, authoriz... Read More...
Contextualise the current relationship between India and Maldives PM Modi's first foreign visit was to Maldives in June 2019 after his re-election as Prime Minister in May, reflecting the importance India attaches to its 'Neighbourhood First' policy. While Modi visited the Maldives in November 2018 to attend President Solih's swearing-in, this visit is the first by an Indian prime minister at a bilateral level in eight years. The rela... Read More...
What is Bishkek Declaration? Bishkek Declaration is related to the Shanghai Cooperation Organisation's Heads of State Council. The member states stressed that acts of terrorism and extremism cannot be justified. India and other members of the Shanghai Cooperation Organisation (SCO) have condemned terrorism in all its forms and manifestations. Read More...
The NITI Aayog has drawn up a plan for creating an institutional framework for artificial intelligence (AI) in the country. It has circulated a cabinet note to provide Rs 7,500 crore in funding for creation of cloud computing platform called AIRAWAT and research institutes. The government will pump in Rs 7,500 crore initially over a three-year period and set up a high-level taskforce to oversee roll-out and implementation of AI. Read More...
Why is it in the news? India slipped 10 places to 51st position in the latest Democracy Index global rankings published by The Economist Intelligence Unit. Its score, down from 7.23 in 2018 to 6.90 in 2019, is its lowest ever since the Democracy Index was begun in 2006, the report shows. The report ranks 165 independent states and two territories, covering almost the entire population of the world. What is the main cause for the regression? The primary cause of the democratic regression was an erosion of civil liberties in the country,” the report... Read More...