Discount available only till 30th May

Trade Statistics (2023-24):

India's Exports of goods and services =

$437 billion + $340 billion = $777 billion (21.5% of GDP)

India's imports of goods and services =

$677 billion + $177 billion = $854 billion (23.6% of GDP)

India's merchandise exports and imports both have decreased (in absolute terms) in 2023-24 as compared to 2022-23

Agriculture Trade
Exports = $48 billion
Imports= $32 billion

India's agriculture exports and imports both have decreased (in absolute terms) in 2023-24 as compared to 2022-23

The above is just a draft guideline by RBI.

RBI has increased the provisioning required for Project finance (loans for which there is no additional collateral and the lenders expect to receive the principal and interest payment only from the specific project revenues to which the lender has provided loan).

Because of increase in provisioning requirement, Lenders will have to keep an additional amount for any future losses due to loans given for project finance (which are risky). So, due to provisioning, the account books of banks will change.... students don't need to go in detail as it requires an understanding of accounting concepts, but let me just put it in simple words.

Suppose a bank did provisioning of Rs. 100 crore amount then this amount will be subtracted from the income statement (as loss) and the same will be adjusted in the balance sheet of the bank due to which 'Common Equity Tier 1 capital' will get reduced which will result in reduction in 'Capital Adequacy Ratio (CAR)' [which is includes Tier 1 capital on numerator] and it also increases banks cost (of lending) as this much amount can't be lent.

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Govt. of India has brought Rice and Wheat under Price Stabilization Fund (PSF) Scheme.

Earlier Potato, Onion, Pulses were included under the PSF scheme which NAFED and NCCF used to procure from farmers (at harvest time) and release in the (retail) market if the prices used to increase. Now, NAFED and NCCF will purchase Wheat and Rice from Food Corporation of India (FCI) and release it in the market ( under Bharat Atta, Bharat Rice brad).

Join Economy Capsule Course for UPSC Prelims 2024 by Vivek Singh Sir.

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* Quick Economy Refresher just before the Prelims.
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ECONOMY PRELIMS CAPSULE COURSE 2024

At Unacademy, we have launched Economy prelims capsule course in offline/online mode on 28th Feb 2024, which got completed recently. It covered basics as well as current issues. The access to the course is available in recorded form at a discounted price.

All those students who are appearing in UPSC prelims 2024 (16th June 2024) may subscribe to this course. You will be able to watch this course any number of times till Prelims exam and a telegram group is created to resolve all your queries till Prelims. The details of the course can be fetched from: https://t.me/VivekSingh_Economy/4390

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mail: support.upscdelhi@unacademy.com
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Source: The Hindu
"Income and Wealth inequality in India" published by World Inequality Lab.

As I have already discussed in class that Inequality increases after reforms but once Govt. starts focussing on education and health and infrastructure it may start declining. In India too, inequality increased post LPG reforms (in 1991) but now since there is a very strong focus on infrastructure (and other reforms) which may lead to a boom in manufacturing and creation of more productive and formal jobs resulting in reduction in inequality in future years. And you can also see from the Chart 2 and 3 that inequality is not increasing at the rate at which it increased in the post reform period.
Inequality generally expressed in terms of either income or wealth.
https://bit.ly/3SdghTR

Nothing relevant Economy News these days.

Focus on revision of basic concepts, solving Eco 450 and last one year telegram updates since Jan 2023.

https://bit.ly/3SdghTR

Source: Indian Express

In India and majority of countries, poverty is measured through Expenditure/income approach. The multidimensional poverty reported in the newspaper above is based on 'DEPRIVATIONS' approach. The real poverty estimates we will come to know only when the report is released based on 'Household Consumption expenditure survey'. Please see the links below to get a an overall idea of measuring poverty in India.

https://t.me/VivekSingh_Economy/4246
https://t.me/VivekSingh_Economy/4205

https://bit.ly/3SdghTR