Revival of India’s Creative Economy Syllabus: GS3/ Indian Economy & Related Issues In News The creative economy is one of the youngest and fastest-growing sectors in India. What is the creative economy? The creative economy has no single definition. It is an evolving concept which builds on the interplay between human creativity and ideas and […]
In Context Semiconductor fabrication represents the ultimate frontier of human tech advancement. About Semiconductors: What are Semiconductors? Semiconductors are the thumbnail-sized building blocks of almost every modern electronic device from smartphones to connected devices in the Internet of Things (IoT). They help give computational power to devices. Components: The basic component of a semiconductor chip […]
In Context Worries about the inadequacies of global governance and weakening multilateralism have heightened in recent years. About Globalization Globalization is the word that describes the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Countries have built […]
In News The Reserve Bank of India (RBI) made an announcement regarding its key rates after the conclusion of a three-day Monetary Policy Committee (MPC) meeting. Major Highlights The committee decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50% on the basis of an assessment of the current […]
In News India has recently turned a net exporter of toys, during 2020-21 and 2021-22, ending decades of import dominance. Toy Sector in India Historical Linkages: India has a rich history of toys. The invention of toys in India took place during the Indus Valley Civilization, approximately 8,000 years ago. The original toys comprised whistle-shaped […]
In News India needs to focus on cereal and milk inflation, both of which have high weights in CPI. About the Inflation Responsibility & objective: In India, the RBI is entrusted with the responsibility of devising monetary policy with the primary objective of maintaining price stability while keeping in mind the objective of growth. About […]
In News The Ministry of Finance has launched the scheme, “Vivad se Vishwas I – Relief to MSMEs”. More about News The scheme was announced in the Union Budget 2023-24. 95 % of the forfeited amount relating to performance security, bid security and liquidated damages forfeited/ deducted during the COVID-19 pandemic will be returned to […]
In News There’s a growing trend of countries sidestepping the US dollar (de-dollarisation) and choosing to use their own local currencies for bilateral trade. What is de-dollarisation? De-dollarisation is a term that refers to the process whereby countries tend to reduce their reliance on the US dollar as a reserve currency, medium of exchange, and […]
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