DAILY NEWS ANALYSIS
01 April, 2021
7 Min Read
GS-Paper-3: Economic issue and Economics Optional – UPSC PRELIMS – Mains Application
Context: India, according to the 'Economic and Social Survey of Asia and the Pacific 2021: Towards post-COVID-19 resilient economies', is estimated to record economic growth of 7 per cent in 2021-22, over a contraction of 7.7 per cent witnessed in the previous fiscal on account of the pandemic's impact on normal business activity.
News: India’s 2021 economic output, however, is expected to remain below the 2019 level despite a robust reduction in new Covid-19 cases and the start of vaccine roll-out. India entered the pandemic with already subdued GDP growth and investment. Moreover, one of the most stringent lockdowns in the world caused the severe economic disruptions that the country experienced in the year 2020.
A subsequent change in lockdown policies and success in reducing infection rates supported an impressive economic turnaround in the later months of 2020.
Challenges: The report mentions two major challenges for India on its path to faster recovery
Observation Regarding Asia Pacific Countries:
Economic and Social Survey of Asia and the Pacific
Produced annually since 1947, the Economic and Social Survey of Asia and the Pacific is the oldest United Nations report on the region’s progress.
United Nations Economic and Social Commission for Asia and the Pacific
World bank logistic performance index 2023 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 Mini
Smuggling of Gold 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 mar
India-Thailand Relations 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
Translocation of Elephants 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 dismis
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
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