Reading Time: 9 mins As India continues to fight the pandemic of COVID-19, The PM recently made a clarion call for a post-pandemic economic redemption. The Atmanirbhar Bharat i.e. Self-reliant India is a policy that aims to convert the crisis into opportunity and boost the Make in India program. The Finance Minister explained the nitty-gritty of the policy in a press conference.
Reading Time: 9 mins For the first time since the Great Depression, both advanced economies and developing economies are facing recession due to COVID-19 …
Reading Time: 7 mins Since 2018, India’s working-age population has grown larger than the dependent population consisting of children and senior citizens. This youth bulge is going to last for 37 years. However, the current economic slowdown has led to layoffs, growth decline in various sectors and joblessness. Necessary steps like policy support and reforms must be taken to make full utilisation of India’s demographic dividend to promote the growth and development of the economy.
Reading Time: 8 mins Non-Governmental Organisations, for a long time, have played a significant role in a variety of fields ranging from disaster relief to advocacy of the marginalised and disadvantaged communities. They are currently a major part of the civil society, which bring rapid change and social transformation within the country. However, in recent decades, India has been a difficult environment for the NGOs due to vague laws that are stopping them from questioning the unjust government policies, discrimination, advocating for the rights of the marginalised communities and other deprived groups. Successive Indian governments have often tried to curb their activities. This is due to the limitations of Indian laws. Taking measures to ensure NGOs’ transparency and accountability through just laws and mechanisms can allow these organisations to work with the government, leading to the promotion of democratic values and social justice at the grass-root level.
Reading Time: 11 mins In recent years, the Indian government is passing laws and policies to promote the circular economic model. According to the report by Chatham House, a London-based Royal Institute of International Affairs, India is leading the developing nations in circular economy investments that are aimed at pursuing sustainable and climate-resilient growth and has an opportunity to save as much as 11% of its GDP annually by 2030. A clear and defined strategy to promote the circular economic model is necessary for the positive outcomes that can be acquired from the same.
Reading Time: 7 mins In 2015, the UNGA adopted the 2030 Agenda for Sustainable Development. 193 nations, including India, are committed to the 17 Sustainable Development Goals. It broadly involves the eradication of poverty of all forms, fighting inequality and tackling climate change through inclusiveness. India has played a significant role in past years to achieve these goals and its achievement is critical for the global community as it is consists of about 17% of the world population. As per the SDG Index released by the NITI Aayog and the UN showed the nation has scored 58 – almost more the halfway mark in meeting the target set for 2030.
Reading Time: 5 mins
India is one of the fastest-growing economies in the world. However, it is consuming the limited natural resources at an unsustainable rate. India’s resource extraction is estimated to be more than three times the world average. Also, India’s material productivity is much lower than the global average. Material productivity is the ratio of output achieved compared to the inputs used. Low material productivity means the inefficient use of natural resources. It is evident that India’s economic growth is at the cost of the natural environment. National Resources Efficiency Policy seeks to solve the problem of the inefficient use of natural resources and promote recycling and reusing of available resources. With the growing demands and the increased strain on the environment, a solid policy to ensure sustainable economic growth is a need of the hour.
Reading Time: 7 mins
After its brief stint as the world’s fastest-growing economy, India’s economic growth has been slowing to all-time lows. Crisil had forecasted India’s GDP growth to be 6.3% for the fiscal year 2020. Earlier it forecasted it to be 6.9%. This comes after the GDP growth rate was at its slowest in almost 6 years. Earlier, Moody too had forecasted economic slowdown by 6.2%. From these current data, it is obvious that the Indian economy is currently facing crisis due to a combination of factors such as increased unemployment rate, rural distress, liquidity crunch, etc.
Reading Time: 4 mins
Economic Survey 2019 has brought in the Behavioural Economic Theory that provides insights to “nudge” the people to make economically and socially desirable choices. This is in contrast to the stringent economic and political policies to change the social behaviour of the people.