Ina Current Affairs: Mains

INA CURRENT AFFAIRS
MAINS 2023
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INA CURRENT AFFAIRS – 160+ IMPORTANT TOPICS: TARGET MAINS 2023
Under the Guidance of M K YADAV
TABLE OF CONTENTS
1 LOGISTICS SECTOR IN INDIA: CHALLENGES AND WAY FORWARD 2 2
2 MILLETS (SHREE ANNA): ‘SUPER FOODS’ FOR FUTURE 4
3 INDUSTRY 4.0: NEED & POTENTIAL FOR INDIA 6
4 SHIFT TOWARDS DE-DOLLARISATION OF GLOBAL TRADE 8
5 1 YEAR OF OPEN NETWORK FOR DIGITAL COMMERCE (ONDC) 10
6 INDICATIVE TOPIC LISTING: 55+ MOST IMPORTANT ECONOMICS TOPICS 12
7 AAKRITI SETHI (AIR - 249): ANSWER WRITING THROUGH TEMPLATES 18
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1
1 LOGISTICS SECTOR IN INDIA: CHALLENGES AND WAY FORWARD

1.1 NEWS IN FOCUS
• The Prime Minister recently launched the National Logistics Policy (NLP), a cross-sectoral, multi-
jurisdictional and comprehensive policy framework for the overall improvement in the logistics sector.
1.2 BACKGROUNDER
WHAT IS LOGISTICS LOGISTIC SECTOR IN INDIA
• Logistics comprises a network of services that supports the • Contribution to GDP – 15%
physical movement of goods from point of production to point • Logistics Cost: 13-14% of GDP
of consumption. (compared to 7-8% in developed
• It includes: Transportation (rail, road, shipping, air services), countries).
warehousing & cold storage, integrated facilities (eg. industrial, • Structure: 70% Logistics sector
multimodal logistic parks), customs etc. remains unorganized.
National Logistics Policy (NLP): Key Features

• Vision: To develop a technologically enabled,
integrated, cost-efficient, sustainable, and
trusted logistics ecosystem for accelerated
and inclusive growth.
• 4 Features:
1. Integration of Digital System (IDS) of 7
departments, across ministries.
2. Unified Logistics Interface Platform
(ULIP): All digital services related to the
transportation sector on a single portal.
3. Ease of Logistics (E-Logs) Portal: For
industry to directly take up matters with the govt agencies.
4. System Improvement Group (SIG): To monitor all logistics-related projects regularly.
• Policy Implementation: via Comprehensive Logistics Action Plan (CLAP), with specific key action areas:
- Integrated Digital Logistics Systems, Standardization of physical assets and benchmarking of service
quality standards, Capacity Building, state-level logistics performance, EXIM Logistics, etc.
• Monitoring & review: By empowered group of secretaries (EGoS) constituted under the PM Gati Shakti.
1.3 NEWS ANALYSIS

POTENTIAL BENEFITS OF NATIONAL LOGISTICS POLICY, 2022
• ‘Ease of Moving’: Together with Gati Shakti Plan, Sagarmala, Bharatmala etc, the Logistics Policy aims
to expeditiously bring down cost to less than 10% through enhanced Multimodal Connectivity.
- Transformational impact via Ease of Doing Business + Ease of Living + Ease of Moving.
• Digitisation: ULIP & E-Logs bring the entire multimodal network onto a single digital dashboard for real
time information exchange, regulatory interoperability, & transparency for all stakeholders.
• Plugging last mile delivery gaps: Logistics Division, DPIIT will identify critical EXIM infrastructure related
issues & procedural inefficiencies and develop a National Trade Facilitation Action Plan (NTFAP).
• Data driven monitoring: System Improvement Group (SIG) will monitor regulatory & digital
improvements & promptly resolve user issues.
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• HR development &
Employment Boost: via
National Logistics
Human Resource
Strategy.
• Engaging states through
competitive federalism:
Performance
assessment of states
(LEADS) index.
• Global recognition:
Improved credibility ➔
greater integration into
global value chains.
CHALLENGES IN IMPLEMENTATION OF NLP, 2022 Other Key Govt. Initiatives for Logistics Sector
• Disruptive in nature: Changing the multi-modal mix of • Focus on Integrated Infrastructure: NIP, Gati
transport may disrupt employment and logistic Shakti, Sagarmala, Bharatmala, Dedicated
services. For e.g. railways fail to provide last mile Freight Corridors, Multi Modal Parks etc.
connectivity, like roads. • Administrative Measures: Infra status to
• Implementation issues: In terms of on-time Logistic Sector, National Logistic Portal,
completion of infrastructural projects, absence of FASTags, E way bill etc.
adequate complementing services such as storage • Support under Big Ticket Reforms: Digital
facilities, warehouses, land acquisition etc. India, Skill India, Make in India etc.
• Cyber security: A shift towards greater digitalisation of logistics value chain will bring challenges in
creation of a safe and secure database to store sensitive information.
• Lack of digital skills among stakeholders across the supply chain (>70% unorganised). Lack of adequate
system for curriculum approval for logistics & supply chain management courses.
• Federal challenges: Effective implementation of the policy would depend on support from states in
critical areas like regulatory approvals, first & last mile connectivity, industrial development etc.
- So far less than 15 states have framed their own state-specific logistics policy.
• Unclear about sustainability: Roads and highways, with high carbon footprint, have seen majority of
investment. While India has set ambitious climate goals, it is unclear how the policy aims to address this.
WAY FORWARD
• SIMPLIFY:
- Administrative & Tax regime, reduced to a one- window/one- time levy across regions.
- Urban planning to overcome traffic restriction, serious bottlenecks and logjams.
• ENCOURAGE:
- Private investment via innovative financing with special emphasis on world-class infra - integrated
rail corridors, modern cargo facilities, SEZ, CEZ and Multi Modal logistics parks etc.
- New Age Technologies (AI, IoT, Block Chain) & World class training institutes.
• COOPERATE & COLLABORATE:
- Cooperation from states: formulation of state-specific logistics policies & seamless data sharing.
- Improved dialogue with industry & developing policy regulations with collaboration of all
stakeholders.
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2 MILLETS (SHREE ANNA): ‘SUPER FOODS’ FOR FUTURE

2.1 NEWS IN FOCUS
• In the Budget speech 2023-24, the Finance Minister anointed Indian Institute of Millet Research,
Hyderabad as the Centre of Excellence (CoE) for millet ecosystem, to make India a global hub for millets.
• The year 2023 has been declared by the United Nations as the International Year of the Millet, following
a proposal by India.
2.2 BACKGROUNDER
ABOUT MILLETS
• Millet is a common term used to categorize small-seeded grasses, also called nutri-cereals or coarse
cereals (or ‘super foods’ or ‘Shree Anna’).
• Top 3 millets in India- Pearl millet (bajra), sorghum (jowar) and finger millet (Ragi).
2.3 NEWS ANALYSIS

• Benefit to the farmers:
- Backbone of India’s dry
land agriculture:
Provides food/livelihood
security, esp. to the
small/marginal farmers
& inhabitants of rain
fed/remote tribal
regions.
- Highly affordable
production: Millets can
survive with minimal
water, poor soils, high
temperatures & little
fertilizer.
- Profitable forward linkages – with expanding health food industry (millet biscuits, cereal food etc).
- Multiple uses - as Food, fodder and feed, biofuels etc. For eg. Jowar & Bajra based biofuel can help in
achieving target of 20% ethanol blending with petrol by 2025.
• Health benefits: Millets as “Super Foods”
- Nutritional Security - Act as a shield against nutritional deficiency, esp. among children and women.
For eg. anaemia (iron deficiency), B-complex vitamin deficiency, pellagra (niacin deficiency) etc.
- Overcome Non communicable lifestyle diseases: Gluten Free & high in antioxidents, minerals & fibre.
• Environmental benefits
- Climate smart crops - Millets are hardy, heat resistant, and highly adaptive to climate change. They
have a low carbon and water footprint and high carbon sequestration ability.
- Prevents Monocultures – with its focus on multi, mixed and intercropping.
• Aligned with International commitment: Focus on Millet production is in line with India’s commitment to
SDG goals of eradication of hunger & UN Decade of Action on Nutrition from 2016 to 2025.
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KEY GOVERNMENT INITIATIVES

• National Food Security Mission (NFSM) – Nutri-cereals
• Akshaya Patra - the mid-day meal implementing agency in Karnataka, launched a pilot with a millet-based diet
• Implementation of NITI Aayog’s recommendation of including millets in PDS & mid-day meal schemes.
• Start-ups on millets mobilised for export promotion of Ready to Eat (RTE) and Ready to Serve (RTS) categories.
• One District One Product (ODOP) has categorized 27 millet focus districts.
• Millet International Initiative for Research and Awareness (MIIRA): millet research programme.
• Millets And OtHer Ancient Grains International ReSearcH Initiative (MAHARISHI): Research and awareness
about agro-biodiversity, food security, and nutrition aligning with the International Year of Millets 2023.
KEY CHALLENGES
• Absence of Suitable Policy on Millet – To coordinate efforts at national, state level and local level.
• Shrinking area – Over the last 6 decades the area under millet production has been shrinking; esp. after
the Green Revolution in 1960s due to preferential production & consumption in favour of wheat & rice.
• Skewed attention to limited millets - In the villages, minor millets are vanishing due to the
predominance of ragi (finger millet), as it is economically viable, increases soil fertility and can be
intercropped ➔ leading to monocultures & risking agro-biodiversity.
• Difficulty in processing - Apart from ragi and jowar, other types of millets have tough seed coats and
need more processing. Processed millets (like millet flour) also have lower shelf life.
• Poor Perception & branding - Millets are often perceived as “poor person’s food”, thus, lower demand
with rise in incomes and urbanization (rice and wheat seen as ‘aspirational foods’).
- Less than 10% of rural and urban households reported consumption of millets (NSSO).
• Other Challenges - low remunerative prices, lack of input subsidies and MSP, weak supply chain linkages
& marketing, subsidised supply of fine cereals PDS system etc.
WAY FORWARD
(A) Demand Creation
• Need for Government-led policies to support production and consumption of millets, coupled with
enhanced consumer awareness of their nutritional and health benefits.
- For eg. Organising millet festivals for producers to showcase their millet & ‘Tasty millet recipes’.
• Winning the Perception battle – re branding millets as ‘nutri-cereals’ or ‘Super Foods’ and popularising
them under ‘Fit India’ and ‘Eat Right’ Campaigns as people’s movement (Jan Andolan).
• Global collaborations and knowledge exchange: For eg. ‘Millets for Food and Nutritional Security’
project by ICRISAT, supported by European Union to promote millets in Africa and Asia
(B) Supply Augmentation

• Government financial support to farmers for technical inputs like seeds, MSP on lines of wheat/rice
farm-gate processing, linkages to the value addition industry and markets, R&D, etc.
• Convergence with other schemes - There needs to be a strong integration of the sub-mission on nutri
cereals with the flagship Poshan Abhiyaan of the Union government.
• Promotion of millet hotspots like Mandla in Madhya Pradesh, Malkangiri in Odisha, the Garhwal
Himlayas and Kolli hills in Tamil Nadu.
• Vital role of farmers in the conservation of genetic diversity of millet through initiatives such as
community seedbanks, seed fairs, and farmer networks, with a focus on promoting local millets.
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3 INDUSTRY 4.0: NEED & POTENTIAL FOR INDIA
3.1 NEWS IN FOCUS

• Hyderabad will host a World Economic Forum Centre for C4IR: Established by WEF to bring together
the Fourth Industrial Revolution (C4IR), the first centre Govt of India and business leaders to co-
in India (and 18th globally). design and pilot policies & protocols in
• It will be an autonomous, non-profit organisation emerging technologies.
focusing on policy and governance for healthcare and life
sciences. Designated nodal agency: NITI Aayog
3.2 BACKGROUNDER
4TH INDUSTRIAL REVOLUTION (INDUSTRY 4.0)
• It refers to the integration of advanced technologies into industrial processes and systems.
• Encompasses - integration of automation, data exchange, artificial intelligence, and the Internet of
Things (IoT) to create "smart factories" and transform the entire value chain.
3.3 NEWS ANALYSIS

FOURTH INDUSTRIAL REVOLUTION IN INDIA – POTENTIAL Industry 4.0 in Action: Examples
• Manufacturing & Industry: Adoption of automation, IoT, robotics, & • Tesla – using ‘cobots’ or
advanced data analytics can optimize production processes, reduce Collaborative Robots that are
costs & time, and improve product quality & consumer experiences. industrial robots that work
• E- Governance: Expanding connectivity, embracing cloud computing, alongside workers in a factory.
and implementing Big data analytics can enhance evidence-based policy • Audi’s Smart Factory: using big
making, improve service delivery, and drive financial inclusion. data, virtual reality glasses,
• Agriculture 4.0 & Rural Development: IoT-based sensors, satellite metal 3D printing etc.
imagery, drones, and data analytics can enable smart farming practices, • Johnson & Johnson medical
precision agriculture, and real-time monitoring of crops and livestock. facility: using IoT to create
• Start-up and Entrepreneurship Ecosystem: AI, ML, IoT, and blockchain ‘digital twins’ (or digital versions
technologies can be utilized in areas such as healthcare, fintech, of physical assets).
education, transportation, and sustainability.
• Skill Development and Employment: Upskilling and reskilling initiatives can equip the Indian workforce
with the necessary digital and technical competencies to thrive in the evolving job market & globally.
• Sustainable Development: IoT-enabled smart grids can improve energy efficiency and reduce wastage.
Automation can enable optimized transportation systems, waste management, and resource utilization.
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CHALLENGES TO FOURTH INDUSTRIAL REVOLUTION IN INDIA Other Initiatives Taken by Government

• Infrastructure Deficit: Requires robust digital • National Mission on Interdisciplinary Cyber
infrastructure, including reliable internet connectivity, high- Physical Systems
speed networks, and adequate power supply. • Samarth Udyog Bharat 4.0 (Smart Advanced
• Digital Divide & Digital Illliteracy: Unequal access to Manufacturing & Rapid Transformation
education, limited digital literacy, and language barriers Hubs)
hinder the inclusive adoption of Industry 4.0 technologies. • Digital India – Focusing on Digital Infra,
• Skill Development and Reskilling: India faces the challenge connectivity, literacy, e-services
of aligning its education and skill development systems to • Atal Innovation Mission & Electronics and ICT
meet the changing demands of the job market. Academy: to train the students through
• Disruption of Traditional Job Roles: The automation and online mode in the several domains of
digitalization brought by Industry 4.0 may lead to the Industry 4.0.
displacement of certain job roles ➔ crises of “Jobless • Centre of Excellence (CoE) on IT for IR 4.0
growth turning into job-loss growth”.
• Data Privacy and Security: Safeguarding sensitive information, ensuring data protection, and addressing
cyber security threats become critical.
• Regulatory Frameworks and Policies: The rapid pace of technological advancements in the fourth industrial
revolution often outpaces regulatory frameworks and policies.
WAY FORWARD
• Infrastructure Development: Focus on enhancing digital infrastructure, including high-speed internet
connectivity, data centres, and smart grids.
• Skilling, reskilling & upskilling: Collaborate with educational institutions to introduce curriculum updates
that incorporate emerging technologies.
• Entrepreneurship & Start-up Ecosystem: Nurture a conducive environment by providing financial
incentives, incubation support, mentorship programs, IPR protection and access to funding.
• Regulatory Frameworks and Policies: Establish guidelines and introduce robust legal frameworks for data
privacy, cyber security, and ethical use of emerging technologies ➔ Keeping People & Society at the Centre
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4•• SHIFT TOWARDS DE-DOLLARISATION OF GLOBAL TRADE
4.1 NEWS IN FOCUS

• The BRICS nations (Brazil, Russia, India, China & S. Africa) are in the process of creating a common
currency as a medium for payments, which is seen as a move towards “De-dollarisation of global trade”.
4.2 BACKGROUNDER
DE-DOLLARISATION OF GLOBAL TRADE RESERVE CURRENCY
• It refers to the process wherein countries tend to It is a globally-recognized foreign currency that
reduce their reliance on the US dollar as a reserve central banks or other financial institutions hold
currency and a medium of exchange in international in large quantities as part of their country’s
transactions. foreign exchange reserves.
• Growing Trend Towards De-dollarisation: The market
share of the US dollar in world’s forex reserves has Since 1944, the US dollar has been the world’s
fallen to 58% in 2022 (from 70% in 2001). primary reserve currency.
RISING TREND TOWARDS DE- DOLLARISATION

Bilateral trade settlement agreements Development of New Payment Systems
• Iran and Russia to jointly launch a new • SPFS and MIR payment systems: by Russia
cryptocurrency backed by gold for payments. • Cross-Border Interbank Payment System (CIPS):
• China with countries like S. Arabia, Brazil, Argentina China
etc to conduct bilateral trade in local currencies. • BRICS reserve currency
• India & Malaysia to settle trade in Indian rupees. • TARGET2 (Trans-European Automated Real-time
- India pays Iran in rupees for crude and Russia in Gross Settlement Express Transfer System): Owned
roubles for crude and defence systems. and operated by the Euro system.
4.3 NEWS ANALYSIS

REASON FOR DE-DOLLARISATION
• Prevention of global disruption: Global financial crisis of 2008 highlighted the risks associated with
interconnected financial system. Hence, need for reduced dependence on single reserve currency.
• Global economic re-balancing: with rise of major economies like China, India, South Korea, etc seeking
active influence and recognition in global financial system.
• Greater Economic sovereignty & Strategic Autonomy: due to less dependence on decisions of US
Federal Reserve whose unilateral actions (like Quantitative easing & recent monetary policy tightening)
has induced economic & inflationary shocks, especially in developing countries.
• De-weaponization of the dollar: For eg. Sanctions placed by USA on Russia and Iran has led to
diminishing credibility of USA and its Dollar.
• Trade facilitation: By reducing transaction costs and foreign exchange risks. For eg. India with Iran.
• Development of regional trade blocs: For eg. Euro Zone & BRICS, with an inclination to settle trade in
regional currencies.
• Neutralise hegemony of global financial institutions (IMF, World Bank) which are perceived to be
manipulated by USA to serve its own interests.
CHALLENGES ASSOCIATED WITH DE-DOLLARISATION
• No viable alternative to dollar - To achieve the requisite degree of stability, liquidity, and acceptability,
an alternative reserve currency must be underpinned by a robust economy, deep and liquid financial
markets, and sound monetary and fiscal policy frameworks. Thus, even Euro, GBP may not be feasible.
8
• Credibility: The Chinese Yuan has the economic might to challenge Dollar hegemony, but tight capital
controls, low currency convertibility, and poor transparency makes it a less credible alternative.
• Dollar Dominance: Several countries are heavily dependent on the ‘stable dollar’ for trade, whereas,
national currencies may fluctuate too much to conduct a predictable bilateral/multilateral trade.
• High Transition costs: Shifts in capital flows & global value chains, disruption in bond & equity market,
volatility in currency exchange rates & loss of investor confidence ➔ impact global financial stability.
• US as Safe Haven for Investment: The global investors have a very high level of trust in the U.S. financial
markets owing to rule of law & stability.
WAY FORWARD
• Coexistence of multiple sovereign currencies: Multiple sovereign currencies check and balance each
other, and jointly undertake the important task of stabilizing the international monetary and financial
environment ➔ in line with the reality of a multipolar world.
• Alternative arrangements may continue: like currency swaps, trade in common or local currencies,
diversifying foreign exchange reserves to other currencies, develop alternative payment systems etc.
DE-DOLLARISATION & OPPORTUNITY FOR INDIA
• Reduced dependence on the West - Lead to diversification of foreign reserves➔ insulate economy from
any potential negative impacts of global events associated with a single currency.
• Internationalization of Rupee - By promoting use of Rupee in bilateral trade agreements and
establishing as a reliable medium of exchange, thus, capitalizing on the trust deficit on China.
• Monetary policy autonomy: Reduce vulnerability to fluctuations in US monetary policy enabling it to
better tailor policy actions to domestic economic conditions.
• Regional trade integration - With initiatives like trade settlements in alternative currencies in regional
groupings like BRICES, SAARC and BIMSTEC.
INTERNATIONALISATION OF INDIAN RUPEE

• It is a process that involves increasing use of the local currency (INR) in cross-border transactions.
• India’s Efforts to Internationalise Indian Rupee:
- Trade Settlement in Indian Rupee with countries like Nepal, Bhutan, Iran etc.
- ‘International Settlement of Trade in Indian Rupee’ through special VOSTRO accounts, launched by RBI.
- Foreign Trade Policy 2023 - proposes invoicing, payment, and settlement of trade in Indian rupees.
- Currency Swap Agreement - For eg, with SAARC, UAE, BRICS etc.; Issue of Masala Bonds
9
5 1 YEAR OF OPEN NETWORK FOR DIGITAL COMMERCE (ONDC)

5.1 NEWS IN FOCUS
• The Government’s ambitious Open Network for Digital Commerce (ONDC) project, envisioned to make
e-commerce more inclusive and accessible for consumers, recently completed a year of operation.
5.2 BACKGROUNDER
ABOUT OPEN NETWORK FOR DIGITAL COMMERCE (ONDC)
• Launched in April 2022, ONDC is globally first-of-its-kind initiative that aims to democratise Digital
Commerce and reduce dominance of online retail giants (like Amazon, Walmart-owned Flipkart etc.).
• ONDC has moved e-commerce from a platform-centric model to an open-network which offers a single
point of access for all aspects of buying & selling of goods & services online.
• Nodal Ministry: DPIIT, Ministry of commerce, at the Quality Council of India (QCI). It is incorporated as
a private, non-profit company.
5.3 NEWS ANALYSIS
ONDC: KEY BENEFITS & OPPORTUNITIES One Year of ONDC: Achievements
• Decentralisation & formalisation of commerce: • Rise in Participation: 37 network participants
Where small businesses like kirana stores, ranging from market leaders (Microsoft) to
restaurants, Tribal/Rural Artisans etc. are able to get emerging Indian startups (PhonePe, Hindustan
equitable access to a large set of online consumers. Unilever and ITC) joining the platform as sellers.
• Curb digital monopolies: Several operational aspects • Expansive product variety: more than 27 lakh
including onboarding of sellers, vendor discovery, products on ONDC network (fashion, mobility,
price discovery, and product cataloguing is made electronics, traditional crafts etc.).
open source to all sellers.
• Rapid rise in Transactions: From just 30 per day
• Freedom of choice for consumers: Consumers can one year back, to 600 per day now.
discover any seller, product or service by using any
• Special attention to non-digitised sellers:
platform, compare prices, & choose their nearest
Kanchipuram weavers & social sector
available preferred local businesses.
enterprises live on ONDC with SIDBI’s support.
• Digital inclusion: It focuses on apps in regional
• Filip to logistic sector: with Dunzo, Delhivery,
languages for both buyers and sellers to tap small
Loadshare, Grab and Ekart joining in.
merchants and rural consumers.
• Synergies with other Govt initiatives - For eg. Govt of UP has partnered with ONDC to get all the ODOP
(One District One Product) products available on ONDC network; fostering innovative Start Ups etc.
• Drive innovation - By providing open APIs and developer tools, ONDC encourage innovation and
development of new applications, services and business models.
POTENTIAL CHALLENGES
• Implementation issues - Challenges in getting enough number of e-commerce platforms to sign up,
along with issues related to payment integration.
• Competition from big players - In terms of better quality of goods, Customer service, Technology,
Marketing & branding, resources for deep discounts etc.
• Lack of clarity: on addressing buyer/seller complaints leading to issues of accountability.
• Other challenges: Data protection & Cybersecurity, Digital penetration, poor digital & physical
infrastructure, digital illiteracy of small sellers (rural, tribals) etc.
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E-COMMERCE IN INDIA
WHAT IS E-COMMERCE?
• E-Commerce includes buying, selling, marketing or distribution of goods and services through electronic
network (internet). Delivery of goods & services may be online or via traditional mode of physical delivery.
E-COMMERCE INDUSTRY IN INDIA: KEY FACTS & TRENDS

• India’s E: Commerce market: Fastest growing in the world (at 20% annually) and expected to surpass the US to
become the 2nd largest E-commerce market in the world by 2034. Market size: over $55 Bn.
• Sunrise sector: Fashion, grocery, general merchandise sector would capture nearly two-thirds of the Indian e-
commerce market by 2027.
• Greater Adoption: More than 60% of orders in India come from tier-2 cities and smaller towns (2019).
• Nascent stage: India’s online retail market is just 3% of total retail market & 25% of organized retail market.
• Huge Employment potential: Directly & indirectly through backward linkages (MSME, Textile, Leather, Farmers,
craftsmen etc) & forward linkages (Logistics, packaging, transport, storage, advertising etc.)
Other Govt Initiatives for e commerce sector

• Draft E-commerce policy & Draft National Retail Policy (For administration of offline retail & e-commerce).
• Liberalised access to Indian markets - 100% FDI allowed in B2B and marketplace model of B2C E-commerce.
• ‘Digital India’ campaign – GoI aiming to create a trillion-dollar digital economy by 2025.
• Investment in future technology: For E.g. GoI is planning a roadmap for rolling out fiber network for 5G.
• Consumer Protection (e-commerce) Rules, 2020 – Directing e-commerce company to display country of
origin, restriction on unfair trade practices and appoint a nodal officer to ensure compliance with the rules.
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by MK YADAV SIR & PEEYUSH SIR
12
INDICATIVE LISTING: 55+ MOST IMPORTANT ECONOMICS TOPICS

Sr# TOPICS : MAINS 2018
RELATED CURRENT AFFAIRS
ECONOMY, GROWTH AND INCLUSIVE DEVELOPMENT

1 INDIA AS A DEVELOPED NATION BY • Prime Minister Modi announced that India is setting a target of
2047: A MIRAGE OR REALITY? 2047 to become a developed nation.
2 GLOBAL ECONOMIC RECESSION: • There have been concerns expressed by several experts,
CHALLENGES FOR INDIA AHEAD economists, and international organizations (World Bank, IMF)
GLOBAL LAYOFFS about the possibility of a global recession in 2023.
• Recently, many of U.S. multinational companies has announced
massive layoffs
AGRICULTURE
3 MSP, AGRI MARKETING,
HORTICULTURE, PM FASAL BIMA
YOJANA, PM KRISHI SICHAYI QUICK REVISION POINTERS
YOJANA, KISAN SAMAAN NIDHI,
FARM MECHANISATION
4 INTERNATIONAL YEAR OF MILLETS • United Nations General Assembly adopted a resolution declaring
- 2023 2023 the International Year of Millets, as proposed by India
5 GM CROPS - GM MUSTARD • ‘GM Mustard hybrid’s yield 28% more than national check’
6 NATURAL FARMING IN INDIA: • National Natural Farming Mission: Union Agriculture Minister Shri
PROSPECTS AND CHALLENGES Narendra Singh Tomar chairs steering committee meeting of
National Natural Farming Mission
ORGANIC FARMING • The Union Budget 2022-23 announced Government’s plan to
launch a new scheme - PM (PRANAM) to incentivize States and
PM PRANAM SCHEME UTs to promote alternative fertilizers and balanced use of
chemical fertilizers.
ONE NATION ONE FERTILISER • PM recently launched the Pradhan Mantri Bhartiya Jan Urvarak
Pariyojana - One Nation One Fertiliser’ scheme.
7 FOOD PROCESSING INDUSTRY: • Union Minister of Food Processing Industries launched Three One
CHALLENGES, OPPORTUNITIES & District One Product (ODOP) brands under Pradhan Mantri
WAY FORWARD Formalisation of Micro Food Processing Enterprises scheme
8 PRIMARY AGRICULTURAL CREDIT • The Cabinet cleared a plan for setting up 2 lakh Primary
SOCIETIES Agricultural Credit Societies (PACS), dairy, and fisheries
cooperatives in the next five years.
9 DAIRY SECTOR: PROSPECTS & • PM inaugurated International Dairy Federation World Dairy
CHALLENGES Summit 2022.
• Increased allocation of 20 per cent in 2022-23 for the Rashtriya
Gokul Mission and National Programme for Dairy Development
10 FISHERIES SECTOR: UNLOCKING • Minister of Fisheries, Animal Husbandry and Dairying launched 3
THE POTENTIAL national flagship programmes for aquaculture sector.
AQUACULTURE SECTOR
13
INDUSTRY
11 SEMICONDUCTOR INDUSTRY IN • Cabinet approves modifications in “Programme for Development
INDIA: OPPORTUNITIES & of Semiconductors and Display Manufacturing Ecosystem in India”
CHALLENGES • India Semiconductor Mission (ISM) has been setup as an
Independent Business Division within Digital India Corporation.
• China-US tussle over semiconductors & implications for India
12 INDIA PHARMACEUTICAL SECTOR: • India has been in news due to export of contaminated cough syrup
POTENTIAL & CHALLENGES in the global market.
13 INDUSRTY 4.0 • India’s first Fourth Industrial Revolution Centre on healthcare, life
sciences will be set up in Hyderabad.
14 E-COMMERCE INDUSTRY IN INDIA • The Government’s ambitious Open Network for Digital Commerce
(ONDC) project, recently completed a year of operation.
OPEN NETWORK FOR DIGITAL
COMMERCE
15 COAL SECTOR IN INDIA: ISSUES & • Union Cabinet approved the policy for land acquired under the
WAY FORWARD Coal Bearing Areas (Acquisition & Development) Act, 1957 (CBA
Act).
16 TEXTILES SECTOR • Ministry of Textiles cleared 20 Strategic Projects under the
Flagship Programme National Technical Textiles Mission (NTTM)
17 7 YEARS OF START UP INDIA: • Number of unicorns in India reaches 100.
SUCCESSES & CHALLENGES
18 MSME SECTOR: KEY CHALLENGES & • Ministry of MSMEs launched the MSME
FUTURE PROSPECTS Competitive (LEAN) Scheme to provide a roadmap to
global competitiveness for the MSMEs of India.
19 NATIONAL LOGISTICS POLICY • Recently, the Government has launched a National Logistics Policy
(NLP) 2022, aiming to achieve ‘quick last-mile delivery', end
transport-related challenges.
20 GAS BASED ECONOMY: • Government amended the domestic pricing model of natural gas
CHALLENGES & WAY FORWARD in line with the recommendations of the Kirit Parikh committee
on gas pricing.
21 INTELLECTUAL PROPERTY REGIME • Recently, India improved its rank to 40th in the Global Innovation
IN INDIA: CHALLENGES & Index (GII) 2022 rankings (from 46th rank in 2021).
MEASURES REQUIRED
EVERGREENING OF PATENTS
22 CORPORATE SOCIAL • New amendments to the CSR Act
RESPONSIBILITY
23 CORPORATE GOVERNANCE • The Securities and Exchange Board of India (SEBI) has introduced
a regulatory framework for Environmental, Social, and
Governance (ESG) disclosures by top listed companies.
INFRASTRUCTURE
24 NATIONAL INFRASTRUCTURE • It was recently announced that, the Gatishakti scheme will
PIPELINE (NIP) provide a framework for the National Infrastructure Pipeline
programme and make Indian products more competitive by
PM GATI SHAKTI NATIONAL cutting down logistic costs and improving supply chains.
MASTER PLAN
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25 PRIVATISATION OF DISCOMS: • The central government has recently clarified that IBC
NEED, CHALLENGES & WAY proceedings could be triggered against state government-owned
FORWARD electricity distribution companies (discoms).
• The Union Ministry of Power has drafted a ‘Standard Bidding
Document’ (SBD) for the privatisation of Power DISCOMs (Power
Distribution Companies) in States/UTs
• One Year Anniversary of One Nation- One Grid - One Frequency
26 INLAND WATERWAYS IN INDIA: • Prime minister unveiled inland waterways projects worth over Rs
PROSPECTS, CHALLENGES & WAY 1000 crore to increase transport, trade & tourism in eastern India.
AHEAD
27 PRIVATISATION OF INDIAN • Union railway minister recently ruled out the privatisation of
RAILWAYS Indian railways.
28 LITHIUM RESERVES IN INDIA • Geological Survey of India has for the first-time
discovered Lithium resources of 5.9 million
tonnes in J&K.
SERVICE SECTOR
29 SOFTWARE AS A SERVICE (SAAS): • According to a study by Ernst & Young Global Limited (EY) and
PROSPECTS & CHALLENGES Confederation of Indian Industry (CII) India is poised to become
the next SaaS capital over the next few years.
30 DRAFT TELECOMMUNICATION BILL • Ministry of Communications released a draft of the Indian
2022: PROVISIONS & EXPECTED Telecommunication Bill, 2022 for public comments
OUTCOMES
31 TELECOM SECTOR IN INDIA • The government recently approved the conversion of Vodafone
Idea’s dues linked to interest on spectrum and Adjusted Gross
Revenue (AGR), worth over Rs 16,000 crore, into government
equity.
• The relief for the company comes as part of the reforms package
announced by the government in September 2021.
32 GIG ECONOMY: OPPORTUNITIES & • NITI Aayog has recently released a report on India’s Booming Gig
CHALLENGES and Platform Economy: Perspectives and Recommendations on
the Future of Work.
33 TOURISM SECTOR: KEY ROLE IN • According to report by Visa Inc. India's tourism industry is on track
SOCIO - ECONOMIC DEVELOPMENT to reach USD 1 trillion by 2047
34 INSURANCE SECTOR • Insurance Regulatory and Development Authority (IRDA) is
working on an all-in-one policy plan to address the low insurance
penetration in India.
FISCAL POLICY AND TAXATION
35 TAX EVASION, GLOBAL MINIMUM • India and other developing countries under G24 grouping have
CORPORATE TAX, BEPS & objected to the proposal of making sovereign commitments to not
EQUALISATION LEVY introduce any future Digital Services Tax like equalisation levy.
• OECD/G20 Inclusive Framework on Base Erosion and Profit
Shifting (BEPS) released further technical guidance to help
domestic governments implement a 15% global minimum tax on
large multinational companies (MNCs
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36 NATIONAL MONETISATION • Centre’s ambitious National Monetisation Pipeline (NMP) may

PIPELINE (NMP) miss the goal in FY23 by a wide margin as the railways, telecom
and petroleum sector slip on their goals.
MONETARY POLICY, BANKING & FINANCIAL SECTOR

OVERVIEW OF BANKING SECTOR- • QUICK REVISION POINTS
37 PCA FRAMEOWRK, PSL NORMS,,
ACCOUNT AGGREGATOR,
TOKENISATION OF CARDS
38 URBAN COOPERATIVE BANKS: • The Reserve Bank recently asked Urban Cooperative Banks (UCBs)
SIGNIFICANCE & CHALLENGES not to create any honorary position or title at the board level as it
results in creation of a shadow authority.
• Recently, a RBI brought in a four-tier structure for the Urban
Cooperative Banks (UCBs).
39 CBDC • The Reserve Bank of India (RBI) has issued a concept note on
Central Bank Digital Currency (CBDC)
40 MICROFINANCE • There has been an across-the-board growth among all kinds of
microfinance players in FY23.
41 GREEN BONDS • Ministry of Finance has approved the final Sovereign Green Bonds
(SGrB) framework of India
• RBI to issue 5-year and 10-year green bonds of Rs 4,000 crore each
in current financial year
42 FINTECH SECTOR: BENEFITS, ISSUES • In the Union Budget 2023, Digilocker services has been extended
& MEASURES REQUIRED for the Fintech industry
• NITI Aayog released a report on digital banks, offering a template
DIGITAL BANKS for their licensing in India.
43 NON BANKING FINANCIAL • RBI issues framework for acceptance of green deposits by banks,
COMPANY NBFCs.
• Registration of five NBFCs canceled by RBI due to irregular lending
practices.
44 BANKING SECTOR • According to a recent RBI paper, bank mergers in India have been
CONSOLIDATION: NEED & beneficial to the banking sector as they have resulted in the
CHALLENGES wealth gains for shareholders of the acquiree banks and have also
improved the efficiency of the bank that has acquired.
45 DEPRECIATION OF INDIAN RUPEE: • Indian Rupee depreciated by around 10% against the US dollar
IMPACTS & PREVENTIVE and the rupee was the worst-performing Asian currency in 2022
MEASURES TAKEN
46 INFLATION TARGETING IN INDIA: • RBI Committee to draft report for government explaining reasons
RELEVANCE, BENEFITS & for average retail inflation remaining above the upper tolerance
CONCERNS limit of 6 per cent for three consecutive quarters.
• A new paper published by the International Monetary Fund (IMF)
has found that there is no definitive evidence to show that
inflation targeting policies by central banks actually work in
bringing down inflation.
47 SOCIAL STOCK EXCHANGE: • National Stock Exchange (NSE) has got the final approval from the
PROSPECTS & ROAD AHEAD SEBI to launch a Social Stock Exchange.
16
48 CRYPTOCURRENCY: SIGNIFICANCE, • European Parliament has approved world's first set of

CONCERNS & WAY FORWARD comprehensive rules, Markets in Crypto Assets (MiCA), to bring
unregulated cryptocurrencyunder the ambit of regulation of
government authorities
Finance Ministry brings crypto assets under Prevention of Money

Laundering Act
49 ASSESSING 5 YEARS OF • The government proposed a slew of changes to the insolvency
INSOLVENCY & BANKRUPTCY CODE law, including fast-tracking the process and expanding the scope
(IBC) of pre-packaged framework.
Go First files for voluntary insolvency
The Insolvency and Bankruptcy Code (IBC), 2016 recently

completed 6 years since its passage in 2016.
50 NEW BAD BANK: NEED & • Government-backed National Asset Reconstruction Company
CHALLENGES (NARCL) is preparing to acquire its first stress asset (Jaypee
Infratech).
EXTERNAL SECTOR AND TRADE RELATED ASPECTS

51 INTERNATIONALISATION OF • Central government has made changes to the Foreign Trade Policy
RUPEE: BENEFITS & CHALLENGES (FTP) to allow for rupee settlement of international trade for
export promotion schemes.
52 SHIFT TOWARDS DE- • Recently, there has been a growing trend towards “De-
DOLLARISATION OF GLOBAL dollarisation of global trade”, where countries seek to reduce
TRADE: PROSPECTS & CHALLENGES their dependence on the US dollar in international transactions.
53 FOREIGN DIRECT INVESTMENT IN • Foreign Direct Investments (FDI) into India reached an all-time
INDIA high of $83.57 billion in 2021-22.
54 FOREIGN TRADE POLICY 2023 • The Government launched the Foreign Trade Policy 2023.
55 SPECIAL ECONOMIC ZONES (SEZS): • Special Economic Zones (SEZ) have touched new heights in terms
NEED FOR REVITALIZATION of performance in Exports, Investment and Employment.
• Finance Ministry Sends Back DESH Bill For SEZ To Commerce
Ministry For Consideration.
POVERTY, EMPLOYMENT AND SKILL DEVELOPMENT
56 SKILLING LANDSCAPE IN INDIA • Ministry of Housing and Urban Affairs (MoHUA) has launched the
‘National Initiative for Promotion of Upskilling of Nirman workers’
(NIPUN) project to train 100,000 construction workers.
• The Union Education Minister Dharmendra Pradhan called upon
US educational institutions to partner with India in rapidly
transforming education and skilling landscape.
MISCELLANEOUS
57 ANIMATION, VISUAL EFFECTS, • AVGC Task Force Report calls for National AVGC-XR Mission with
GAMING AND COMIC (AVGC) budgetary outlay
SECTOR IN INDIA
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INA CURRENT AFFAIRS

How Aakriti Sethi

Register MK YADAV SIR

SAMPLE HANDOUT : ECONOMICS

1 LOGISTICS SECTOR IN INDIA: CHALLENGES AND WAY FORWARD

National Logistics Policy (NLP): Key Features

1.3 NEWS ANALYSIS

2 MILLETS (SHREE ANNA): ‘SUPER FOODS’ FOR FUTURE

2.3 NEWS ANALYSIS

KEY GOVERNMENT INITIATIVES

(B) Supply Augmentation

3 INDUSTRY 4.0: NEED & POTENTIAL FOR INDIA

3.1 NEWS IN FOCUS

3.3 NEWS ANALYSIS

CHALLENGES TO FOURTH INDUSTRIAL REVOLUTION IN INDIA Other Initiatives Taken by Government

4•• SHIFT TOWARDS DE-DOLLARISATION OF GLOBAL TRADE

4.1 NEWS IN FOCUS

RISING TREND TOWARDS DE- DOLLARISATION

4.3 NEWS ANALYSIS

INTERNATIONALISATION OF INDIAN RUPEE

5 1 YEAR OF OPEN NETWORK FOR DIGITAL COMMERCE (ONDC)

E-COMMERCE INDUSTRY IN INDIA: KEY FACTS & TRENDS

Other Govt Initiatives for e commerce sector

by MK YADAV SIR & PEEYUSH SIR

INDICATIVE LISTING: 55+ MOST IMPORTANT ECONOMICS TOPICS

ECONOMY, GROWTH AND INCLUSIVE DEVELOPMENT

36 NATIONAL MONETISATION • Centre’s ambitious National Monetisation Pipeline (NMP) may

MONETARY POLICY, BANKING & FINANCIAL SECTOR

48 CRYPTOCURRENCY: SIGNIFICANCE, • European Parliament has approved world's first set of

Finance Ministry brings crypto assets under Prevention of Money

Go First files for voluntary insolvency

The Insolvency and Bankruptcy Code (IBC), 2016 recently

EXTERNAL SECTOR AND TRADE RELATED ASPECTS

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