ENLIGHTENED MINDS_Inspiring Excellence

The Economic Survey 2020-21 Indian Economy and issues relating to planning, mobilization, of resources, growth, development, and employment. Synopsis – The Economic Survey 2020-21  outlines the status of various sectors of the economy.  Introduction-   The government presented Economic survey 2020-21 of India in the Parliament. The Economic survey provides a summary of the annual economic development across the country during the previous financial year. The focus of this year’s economic survey is on the following basic tenets: Atmanirbhar Bharat in COVID times. Shifting from entitlement-based approaches to an entrepreneurship-based policy framework. Going beyond “nudging”. Nudging is a method of changing people’s behavior by incentives and encouragement. It does not favour the use of force or penal actions for inducing behaviour change among people. It was used t...

  Suggestions for Inclusive growth in India I ndia lags behind many Human development indicators. India’s economic growth is not benefitting the poor. There is a need to create a new framework for measuring the inclusiveness of growth. Why India’s Economic growth is not inclusive? One, Rising hunger:  According to the  Global Hunger Index 2020  India ranks  94 th   amongst 107 countries. Two , Indian citizens are amongst the least happy in the world. According to the  World Happiness Report of  the  UN Sustainable Development Solutions Network,  India ranks  144 th   amongst 153 countries. Three , the Pandemic has increased the inequality gap further by pushing many poor people into poverty. According to a  World Bank report , during the pandemic the very rich became even richer. Whereas the number of poor people in India (with incomes of $2 or less a day) is estimated to have increased by 75 million. Four, unsustainable e...

Global gender Gap Report-2021   India has fallen 28 spots to rank 140th among 156 countries on the World Economic Forum’s Global Gender Gap index. In 2020, India had ranked 112th among 153 countries on the index. About Global Gender Gap Report  It was first published in 2006 by World Economic Forum The Global gender gap index is a part of this which measures gender equality across four pillars– they are economic opportunity, political empowerment, educational attainment and health and survival. The highest possible score is 1 (equality) and the lowest possible score is 0 (inequality). Highlights of the 2021 report India’s Scenario Economic participation:  India’s gender gap on this dimension widened by 3% this year, leading to a 32.6% gap .The share of women in professional and technical roles declined further to 29.2%. Income:  The estimated earned income of women in India is only one-fifth of men’s, which puts the country among the bottom 10 globally on this indica...

  Credit Guarantee Scheme for Subordinate Debt (CGSSD) About Credit Guarantee Scheme for Subordinate Debt (CGSSD) Under the Credit Guarantee Scheme for Subordinate Debt (CGSSD), the government will provide a subordinate debt facility to the promoters of micro, small and medium enterprises that are either distressed or classified under non-performing assets. In case of default, creditors giving subordinate debt are paid after primary debt is settled in full. The scheme will provide a guarantee cover worth Rs 20,000 crore to more than two lakh MSMEs, the Ministry of Micro, Small & Medium Enterprises said in an official release. The scheme will be operationalised through the Credit Guarantee Fund Trust for MSEs (CGTMSE). Under the CGSSD programme, the government will provide the guarantee cover to promoters who can take debt from banks to further invest in stressed MSMEs as equity.  Ministry:  Ministry Of Micro, Small & Medium Enterprises Purpose of the Scheme: To pr...

  Five All India Surveys of Labour Bureau The Labour Bureau has recently been tasked with five major All India Surveys by the Government of India.  Five All India Surveys of Labour Bureau  The five surveys are  All-India Survey of Migrant Workers,  All-India Survey on Domestic Workers,  All-India Survey on Employment generated in Transport Sector,  All-India Survey of Employment Generated by Professionals, All-India Quarterly Establishment based Employment Survey (AQEES).  These surveys have been developed and designed by the Labour Bureau under the technical guidance of an expert group chaired by Prof S. P. Mukherjee and co-chaired by Dr Amitabh Kundu. The five surveys have been worked upon simultaneously and will be launched in a phased manner keeping in mind the constraints arising from pandemic.  The first surveys to be launched are the All-India Survey of Migrant Workers and All-India Quarterly Establishment based Employment Survey (AQEE...

  Bull Market and Bear Market Bull Market A bull market is a period of several months or even years during which stock prices are consistently rising or are expected to rise. Example of a bull market is during the period of December 2011 and March 2015 in Indian stock markets where Sensex surged up by more than 98%. The term bull market is usually used in reference to the stock market and can be applied to anything that is traded, such as bonds, real estate, currencies, and commodities. In the financial world, the bull market is used to describe the economic environment of a country that is growing and optimistic. This is the reason why you hear about investors who are confident in the stock market being described as being bullish. Indicators of a Bull Market Gross Domestic Product (GDP) of the Country Increases Rise in Stock Prices  Employment Rate in the Country Increases Bear Market A bear market is the opposite condition of the bull market. A bear market is a period of sev...

  CAPART About CAPART The Council of Advancement of People’s Action and Rural Technology (CAPART) is an autonomous body set up by the Ministry of Rural Development to interface between the government and NGOs that seek to improve the quality of life in India’s rural areas.  Since 69% of India’s population lives in rural areas, this is a significant undertaking.  CAPART’s mission is to extend the reach of the government programs to remote areas and their marginalized people through these NGOs. It has assisted in the creation of NGOs as well as provided existing ones with training and financial support, before securing their help in its mission.  Of late, however, experts have questioned CAPART’s autonomy and its efficacy in its present form. The organization depends on funds wholly contributed by the government.  CAPART also lacks consistent leadership: 27 different administrative service officers (top-rung bureaucrats) have led the body during its first 24 years...