ECONOMICA

The 2022 FIFA World Cup, which was held in Qatar, concluded on 18th of December with Argentina being crowned as the champions of the event. The tournament took place in the span of 29 days with 64 matches being played in eight venues across five cities. This edition of the competition is the most expensive one till date with a budget exceeding $200 billion. According to FIFA, the organization earned an unprecedented $7.5 billion in revenue from commercial deals tied to this year’s World Cup. An increase in the total prize pool was also observed for this edition. The total prize pool for this edition of the World Cup was a whopping $440 million, which is greater than the prize pool of the previous edition by $40 million. FIFA had announced the prizes for all participating nations back in April 2022. The champions, Argentina received an astounding $42 million for their triumphant win over France, who received $30 million as the runners-up. Croatia and Morocco each received $27 million a...

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 Agricult...

·  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...

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 ...

     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 conti...

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 mod...