07 October, 2019
4 Min Read
One of the world’ fastest growing economies,India is now facing sluggish growth with the RBI sharply cutting GDP growth forecast to 6.1% for 2019-2020 which is slowest in last 6 years.
Effects on primary sectors:
The ripples of the slowdown are gradually moving to the primary sectors which are already reeling under an unprecedented confluence of pressure. Real agriculture and allied GVA grew by 2.9% during 2011-12 to 2017-18 while National Agriculture Policy 2000 it should be around 4% to attain an overall economic growth of 8%.
The current growth rate in the farm sector is less than adequate to take on developmental challenges originating from SDGs mainly zero hunger, gender equality, no poverty, and life on land. The key to addressing the slowdown lies in a selective group of reforms in the key sectors.
Reasons for the Slowdown in the Economic Growth:
Structural factors may include:
To occasional dip on growth due to various reasons will slow the pace to achieving the $5 trillion economy by 2024. This is the right time to execute a slew of doable agricultural reforms as the role of agriculture in reversing the slowdown is immense in the light of its nearly 20% contribution to a $5 trillion economy. Therefore, a blend of efforts from a range of sectors agriculture and allied sectors is warranted to enable overall growth.
Source: THE HINDU
India is now ranked 38th out of 139 nations in the Logistic Performance Index (LPI) 2023 of the World Bank. From its previous rankings of 44th in 2018 and 54th in 2014, this is a notable improvement. Earlier, the Logistics Ease Across Different States (LEADS) Report 2022 was published by the Ministry of Commerce and Industry. About Logi
Airports discovered more than 63% of this illegal gold. The Department of Revenue Intelligence recently conducted the Golden Dawn Operation across India, seizing 101.7 kg of illegal gold valued at Rs 51 crore. Despite the fact that India receives a legal import of about 800-1,000 tonnes of gold each year, the illicit market is thought to be
Both parties expressed satisfaction with the ongoing bilateral defence cooperation at the 8th India-Thailand Defence Dialogue, which was held in Bangkok, Thailand. Cultural ties and mutual cooperation that have been shaped by thousands of years of lasting historical and cultural ties characterise India and Thailand relations. Highlight
The Kerala government's appeal of the order of the Kerala High Court is rejected by the Supreme Court. The Kerala government's appeal against the Kerala High Court's directive to move Arikomban (Wild Elephant), the "rice tusker" of Munnar, to the Parambikulam tiger reserve was recently dismissed by the Supreme Court.
Global Buddhist Summit In order to improve diplomatic and cultural ties with other nations, the Ministry of Culture recently organised the First Global Buddhist Summit 2023 in collaboration with the International Buddhist Confederation (IBC). About the summit "Responses to Contemporary Challenges: Philosophy to Praxis" is
Our Popular Courses
Module wise Prelims Batches
Copyright© Aspire IAS Academy. All rights reserved. Powered by CLT Technologies & Edu-Publishers Private Limited.