GS-III: Economy & Economic Development

Underline the implications of deregulation in the mining sector for India’s economic growth and environmental sustainability.

The state of mining regulation is crucial for balancing economic growth with environmental sustainability. The question arises – Is deregulation the way forward? Current Regulatory Landscape: The mining sector in India is heavily regulated, which often leads to delays in ..

Comment on the challenges and potential solutions for balancing Minimum Support Price (MSP) with fiscal constraints and WTO regulations.

The dichotomy between legally guaranteed Minimum Support Price (MSP) and fiscal constraints, alongside World Trade Organization (WTO) regulations, presents a complex challenge for the Government of India. The government faces three critical constraints in addressing farmers’ demands: Unfulfilled political promises, ..

To what extent the authority of OPEC in deciding the global oil prices has eroded? What are the factors that led to this erosion? Examine.

With the discovery of alternate Oil resources in North Sea and Alaska and other places in the world during 1980; reduced the dependence of other countries on OPEC countries for crude oil. Furthermore, within a short span of time, crude ..

Critically examine the circumstances that led to Oil Crisis of 1973. To what extent similar circumstances might appear in near future? Discuss.

The collapse of Bretton Woods system was the major factor behind rise in oil prices and oil crisis of 1973.Earlier to 1973, the medium of exchange for US and many other countries was Gold. But, with the collapse of system ..

Does the Indian fiscal situation call for the establishment of a fiscal council? Evaluate its utility in addressing the freebies issue.

A fiscal council is an independent fiscal institution with a mandate to promote stable and sustainable public finances. The Institution assists in calibrating sustainable fiscal policy by making an objective and scientific analysis. The freebies debate has highlighted the need ..

Examine the case for the regulatory innovation in India’s efforts towards green transition.

Climate change is inarguably one of the greatest challenges faced by the world today. India has committed to become net zero by 2070, It will require a rapid transformation towards a green economy and sustainability. India’s efforts towards green transition: ..

Explain how the PLI Scheme works. What are the advantages and challenges of the scheme?

The Production Linked Incentive (PLI) scheme Is an initiative of the government to boost the local production of domestic industries by providing them incentives. PLI Scheme: The government provides incentives on incremental sales from products manufactured in domestic units. The ..

Evaluate the performance of the National Asset Reconstruction Company Limited in cleaning up legacy bad loans. What are the major impediments to its effective functioning?

The Government sponsored National Asset Reconstruction Company Limited (NARCL) was formed in 2021 to fast pace the resolution of bad loans in the banking industry. The motive was to acquire all the bad loans from PSU banks and help them ..