ECONOMICA

Introduction : Agriculture plays a significant role for the development of the economy of a country . It makes a noteworthy contribution for the economic prosperity of advanced countries. Also, its role in the development of less developed countries is of vital importance. Around 60% of the population in India is dependent on agriculture as of June 2022, making it the largest source of livelihood for the entire nation. The dependency on agriculture has been constant for a long time. The share of agriculture is often taken as an indicator of economic development. Dependency of a large population on agriculture for its livelihood leads to low average income. The relative importance of agriculture declines when a country develops economically. The share of agriculture and allied sector in total GVA accounts for 18.8% in 2021-22. To end extreme insufficiency and boost the welfare of the country, agricultural development is considered as one of the most pivotal tools.   Role of Agriculture:

·  What is a Digital Rupee?     “Digital currency is basically a payment system that involves digital transactions in electronic form and is not physically tangible like a rupee.” – Rachit Chawla, the CEO of Finway FSC.      As we know, the INR, or simply, the rupee, is a non-electronic, uniform, portable and durable means of exchange. With all these features, a question would arise – “Is there a need to introduce any other exchange”? Well, if there are no questions about its creditability, then the answer would be “why not”? With such an intent, the Reserve Bank of India (RBI) launched India's first digital rupee pilot project on November 1, 2022.   The digital rupee ( e₹ ), also known as Central Bank Digital Currency (CBDC) , is a digital form of currency notes issued by the central bank of India, the Reserve Bank of India.      The digital rupee is electronic money, which makes it more durable than regular currency. being digital it is likely to be easier, faster, and cheaper. I

Recently the North Atlantic Treaty Organization (NATO) has almost reached the Russian borders through Estonia and Latvia and of late, Ukraine started expressing it’s inten t  to join NATO. This implies that if Ukraine joins NATO the threat of 31 countries including USA and UK will stand at the border lines of Russia. This is where President Vladimir Putin’s objection came in giving rise to war-like conditions. Mr. Putin came out open and bold and said that the NATO should reverse and go back to what it used to be in 1997. As NATO disagreed after multiple threats from Russia, on 24 th  February 2022 the invasion of Ukraine happened. To this the world and the NATO could not have taken this head-on and respond with their military. Since Ukraine was not yet a part of the NATO, so these nations could not interfere with their armies; w hich is exactly why they went with their second option i.e. financial warfare. Economic sanctions are often designed to hold a country’s economy and to create

     With nearly one-third of China’s economic activities being driven by the real estate sector and the collapse of one of the giants in the real estate sector, the Evergrande Group, the situation in China looks grim and has been grabbing a lot of attention from countries the world over. Availability of cheap credit for the real estate projects, keeping bank deposits at near zero-level and reckless expansion spree followed by heavy borrowings by the developers led to what we now know as the real estate crisis of China, which has become quite noticeable to the world since 2020. The blog aims to provide the readers an insight into what exactly has been brewing in the Chinese economy due to the crisis and how it appears to be alarming for not just China but for the economies of the countries all over the world.      Even though China has been experiencing the crisis in 2022; it did not occur in a night. Its roots lie in 1990s when China was experiencing continuous rise in urban populatio

Post British Economy Two hundred years of British rule left the Indian economy in a state of complete distortion. Once an international trade hub, in 1947 it was a nation dying from hunger. The transfer of revenues from India to Britain resulted in India suffering from a severe economic crisis and food shortages. The Bengal Famine of 1943 is a classic example of the extent of food shortage, when an estimated 1.5 million people died. At the time of Independence, the literacy rate was only 17 % with life expectancy being 32.5 years at birth. India’s GDP in 1947 was a meagre ₹2.7 lakh crore. The leaders of the National Movement were faced with the challenges of Financial Growth (Overall economic performance) and Economic Development (Development of all sections of society). Let’s analyse the two important policies the GOI introduced to tackle these challenges.     Five Year Plans(FYP’s) Even before Independence, the leaders of the National Movement were inspired by the Soviet model of a P

  Germany is one of the largest exporters globally with $1810.93 billion worth of goods and services exported in 2019. But just like every economy, Germany’s economy vicissitudes more than any other economy to date. Inflation is particularly worrisome in Germany, where purchasing power has evaporated several times over the last century. There are several reasons behind one being the tragic World Wars. Germans did not only face inflation in the 1900s but hyperinflation. The last German Emperor Wilhelm II decided to fund the war by borrowing. (debt) This move proved to be one of the greatest mistakes of all times by modern economists. In 1923, banknotes had lost so much value that they were used as wallpaper. Purchasing power in Germany had evaporated, leading to hyperinflation, and losing WWI led to the mass exit of the workers class on a daily basis. With consumer prices rising every day, workers would collect their wages and rush to go spend it before their money lost even more va

If the news hasn’t reached you yet, and for that to happen you must be living under a rock, Covid has made its unwelcomed come-back. Covid-19 was labelled a pandemic by the World Health Organization (WHO) on March 11, 2020, citing approximately 3 million diagnoses and 207,973 deaths in 213 nations and territories. The new Covid-19 variant, Omicron, is set to unleash yet another slew of limitations and make economies sweat by hindering the already sluggish recovery. The financial conditions of some families have deteriorated to the point where even well-off families have been forced to flee their homes while others have prospered as if gold mines had been discovered. This can be attributed to what we call economic mobility. Precisely, an individual’s, families, or other group’s ability to better or worsen their economic standing is called economic mobility. It is accessed in the terms of their respective incomes. In contemporary society, people are classified into certain “classes”