Indian Economy -Civil Service Gurukul

✅Indian Economy - Institute of Chartered Accountants of India.
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Channel name was changed to «Indian Economy -Civil Service Gurukul»

Channel name was changed to «Indian Economy by CA Dhananjay Ojha»

✅ Educational update
Civil Service Gurukul is happy to announce that we will share daily 5 MCQ for UPSC prelims.
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Centre plans common interest groups, social infra, micro-credit for urban poor workers across 25 cities | India News - The Indian Express
https://indianexpress.com/article/india/centre-plans-common-interest-groups-social-infra-micro-credit-for-urban-poor-workers-across-25-cities-9605710/

👆 relevant for GS paper 3

Source: Indian Express

India has become a member of the Minerals Security Finance Network (MSFN) which involves 14 countries and European Union. MSFN is a US led initiative to strengthen cooperation among members to secure supply chain for critical minerals (cobalt, nickel, lithium and rare earth minerals) . This is required for our clean energy transition goals and electronics and semiconductor manufacturing because till now the supply chain of critical minerals are mostly located in China.
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National Mission on Edible Oils
Approved by Union Cabinet Yesterday. The Mission will be implemented over a seven-year period, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crore. The mission focuses on

1. Enhancing the production of key primary oilseed crops such as Rapeseed-Mustard, Groundnut, Soybean, Sunflower, and Sesamum

2. Increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils

3. Targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement. This will be achieved by promoting adoption of high-yielding high oil content seed varieties, extending cultivation into rice fallow areas, and promoting intercropping.

4. Over 600 Value Chain Clusters will be developed across 347 unique districts which will be managed by value chain partners such as FPOs, cooperatives, and public or private entities

5. The Mission will harness ongoing development of high-quality seeds by using cutting-edge global technologies such as genome editing.

6. The Mission aims to significantly enhance domestic oilseed production, advancing the goal of Atmanirbharta (self-reliance) in edible oils, thereby reducing import dependency and conserving valuable foreign exchange while boosting farmers' incomes.

7. It will also accrue significant environmental benefits in the form of low water usage and improved soil health and making productive use of crop fallow areas.

Note: Presently the country is heavily reliant on imports which account for 57% of its domestic demand for edible oils.
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UPSC withdraws the advertisement for lateral recruitment of 45 posts "as requested by the requisitioning authority".

#LateralEntry | #UPSC
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#UPSC announces the #CivilServicesExamination2023 final #result. #AdityaShrivastava tops the Examination.
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🔯What is the World Economic Outlook about?

The World Economic Outlook (WEO) is an International Monetary Fund (IMF) report providing output, inflation, employment, fiscal balances, and debt statistics for member countries.

The report forecasts the global growth, summarizes the state of global economy and highlights the most important developments.
The IMF publishes the WEO report twice a year (April and October) based on data obtained from its consultations with member countries' governments.

The IMF also publishes two additional and less comprehensive WEO updates a year, each three months after the main WEO report.

✅What is the model used by IMF?

Macroeconomic model – The IMF used a macroeconomic model based on Platzer and Peruffo (2022) to analyse the impact of different forces on the world economy.

This includes foreign developments affecting domestic interest rates through net international capital flows.

8 economies – The model represents 8 major global economies, including the United States, Japan, Germany, the United Kingdom, France, China, India, and Brazil.

The model is calibrated to reflect demographic developments, productivity trends, retirement age, and other factors.

Global GDP – These are the five largest advanced economies and the three largest emerging market and developing economies, which cover some 70% of global GDP.

✅What are the findings of the latest report?

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The baseline forecast is for growth to fall from 3.4% in 2022 to 2.8% in 2023, before settling at 3.0% in 2024.

Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7% in 2022 to 1.3% in 2023.

In a plausible alternative scenario with further financial sector stress, global growth declines to about 2.5% in 2023 with advanced economy growth falling below 1%.

Global headline inflation in the baseline is set to fall from 8.7% in 2022 to 7.0% in 2023 on the back of lower commodity prices but underlying (core) inflation is likely to decline more slowly.

Inflation’s return to target is unlikely before 2025 in most cases.

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Government’s Borrowing plan for first half of FY 2024-25

➡️ Out of Gross Market borrowing of ₹14.13 lakh crore projected for FY 2024-25 in the Union budget, ₹7.50 lakh crore (53.08%) is planned to be borrowed in the first half through dated securities, including ₹12,000 crore through issuance of Sovereign Green Bonds (SGrBs)

➡️ The gross market borrowing of ₹7.50 lakh crore shall be completed through 26 weekly auctions. The market borrowing will be spread over 3, 5, 7, 10, 15, 30, 40 and 50 year securities


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👆For Indian Economy @economyupsc
Topic - Current Account Deficit

✅ current account deficit is the difference between exports and imports of goods and services. It is a key indicator of the country’s external sector.

🏆Recent Educational Updates🏆
Civil Service Gurukul is happy to announce guidance program for Indian Economy from 09 April 2024.
.
🏆🏵✅
✅1. Value added notes will be provided on every topic of the Indian Economy.
✅2. We will provide test series of Indian Economy .
.✅ 3.Total class will be 20 to 30 .
✅4. We will cover current affairs portion also.
✅5. Daily MCQ will be provided till exam.
✅6. All Indian economy query will be resolved through mail or phone within 2 days from asking query.
Only registered students will be eligible for guidance .

✅⬇️For registration ...contact at
@csgurukul

WhatsApp at

9911020626

🔵Financing Agrochemical Reduction and Management Programme (FARM)

✅Seven countries – Ecuador, India, Kenya, Laos, Philippines, Uruguay, and Vietnam – have initiated a program called the Financing Agrochemical Reduction and Management Programme (FARM) to address pollution from pesticides and plastics in agriculture.

✅This initiative aims to combat the release of toxic persistent organic pollutants (POPs) into the environment caused by the use of harmful chemicals in farming

Indian Economy by CA Dhananjay Ojha Sir
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Economic  Survey 2023-24


#cadhananjay #survey2023 #IndianEconomy #economicsurvey
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