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Context ∙ The International Labour Organisation (ILO) has released the World Employment and Social Outlook: Trends 2024 report. Major Findings ∙ Joblessness and the jobs gap have both fallen below pre-pandemic levels but global unemployment will rise in 2024. ∙ The Economic Recovery: The macroeconomic environment deteriorated significantly over 2023. ο Ongoing geopolitical tensions as […]

Context ∙ Reserve Bank of India Governor Shaktikanta Das recently pushed for a specified framework for the group insolvency mechanism. Group insolvency mechanism ∙ Group insolvency mechanism is a legal framework designed to handle insolvency scenarios where multiple companies within a corporate group are financially distressed. ∙ This framework addresses the complex interdependencies between these

In Context ∙ The Minister of Commerce & Industry highlighted the 150% growth in processed food exports over the last nine years. About ∙ There is an immense potential of the Indian food market, catering to a domestic market of 1.4 billion and a global Indian diaspora of nearly three million people who relish Indian

In News ∙ The Reserve Bank of India is closely examining the risks that can emerge from model-based algorithm lending, which led to the surge in unsecured loans, About Model-based algorithm lending ∙ Algorithmic models are powered by artificial intelligence and machine learning ∙ It has not only reduced operational costs but has also expanded

Context ∙ As per the Global Trade Research Initiative (GTRI), Switzerland’s policy to allow tariff-free entry from all countries limit gains for India under the proposed trade agreement with European Free Trade Association (EFTA). ∙ Switzerland has abolished tariffs on products, including chemicals, consumer goods, vehicles, and clothing. About European Free Trade Association (EFTA) ∙

Context ∙ India’s tea industry is experiencing challenges reminiscent of the “dark phase” of 2002-07, calling for introspection and resilience. Challenges faced by Indian Tea Industry ∙ Increased input cost: The tea prices increased at a compound annual growth rate (CAGR) of around 4% over the past decade, however the cost of inputs like gas

Context ∙ The net Direct Tax collection is 80.61% of the total Budget Estimates of Direct Taxes for F.Y. 2023-24. What is Tax? ∙ In order to garner income for the government to finance social projects, tax is collected from individuals and corporations via direct tax and indirect tax. ∙ Direct tax is the tax

In Context ∙ India’s masur (lentil) production is estimated to touch an all-time high of 1.6 million tonnes in 2023-24. About ∙ The total masur acreage has increased to 1.94 million hectare in the ongoing rabi season, when compared to 1.83 million hectare in the year-ago period. ∙ Despite being the world’s largest producer and

Context ∙ Ola group’s AI firm Krutrim is India’s first artificial intelligence unicorn. ∙ Krutrim has raised $50 million at a valuation of $1 billion in a funding round. What is a Unicorn? ∙ Unicorn is a term used in the venture capital industry to describe a privately held startup company with a value of

Context ∙ According to a recent report by the State Bank of India (SBI), India has witnessed a significant fall in inequality over the last decade. Key Findings ∙ The report claims that the Gini coefficient has fallen from 0.472 in 2014-15 to 0.402 in 2022-23. ∙ The Gini coefficient falls for regular wage and