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CA - 240422
1) TRADE
● As per the Ministry of Commerce & Industry despite persistent global challenges, overall
exports (merchandise + services) are estimated to surpass last year’s highest record. It is
estimated to reach USD 776.68 Billion in FY 2023-24 as compared to USD 776.40 Billion in FY
2022-23.
● The primary drivers of merchandise export growth in FY 2023-24 include Electronic Goods,
Drugs & Pharmaceuticals, Engineering Goods, Iron Ore, and Cotton Yarn/Fabs./made-ups,
Handloom Products etc., and Ceramic products & glassware.
● Trade deficit is the difference between a country's imports and exports.

● India's trade surplus with the US - its largest trading partner - was $19.59 billion in the April-
October period, show data from the commerce and industry ministry. However, with China,
the second largest partner, the deficit was a whopping $51.11 billion, followed by a $33.56
billion gap with Russia, the fourth largest trade partner of India. The deficit with the third
largest trade partner, the UAE, was $6.83 billion.
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2) FTP (Foreign Trade Policy) (2023)
● It is a comprehensive policy aimed at boosting the country's exports and promoting ease of
doing business
● Target of achieving $2 trillion in total exports by 2030
● It is based on these 4 pillars: (1) Incentive to Remission, (2) Export promotion through
collaboration - Exporters, States, Districts, and Indian Missions, (3) Ease of doing business,
reduction in transaction cost and e-initiatives, and (4) Emerging Areas – E-Commerce,
Developing Districts as Export Hubs and Focuses on emerging areas like dual use high end
technology items under SCOMET, facilitating e-commerce export, collaborating with States
and Districts for export promotion.
3) LIBERALISED REMITTANCE SCHEME (LRS)

● The scheme puts forth that all resident individuals, including minors, may remit up to
$250,000 each financial year out of India for any current or capital account transaction, or a
combination of both. Relevant transactions may entail private visits to any country (excluding
Nepal and Bhutan), gift or donation, emigration, maintenance of close relatives abroad,
business travel (or attending specialised conferences), medical treatment and foreign
education, among other things.
● Introduced in February 2004 and has been revised recurrently
● Transactions of up to Rs 7 lakh per annum per individual, other than for purchasing overseas
tour program packages, do not draw any TCS
● Transactions using international credit cards overseas would not fall under the purview of
the LRS
● TCS refers to the tax collected by the seller of a commodity at the time of sale. It is over and
above the price of the commodity and is required to be remitted to the government’s
account.
4) PLI ( production-linked incentive scheme)

● It is a form of Performance-linked incentive given to companies based on their incremental
sales from products manufactured in domestic units.
● It is aimed at boosting the manufacturing sector and reducing imports.
● PLI schemes can be availed by both domestic as well as foreign companies operating in India
[2]
● Its a tool with governments to spur production of goods that the country sees as necessary
for social good, taxes, or employment-generation reasons
● Govt identified 14 priority sectors with a total outlay of Rs 2 trillion.
● These sectors are Mobile manufacturing and electronics, Pharmaceuticals and medical
devices, Automobiles and auto components, Specialty steel, Telecom and networking
products, White goods (ACs and LEDs), Textile products, Food products, High-efficiency
solar PV modules, Advanced chemistry cell batteries, Drones and drone components
5) LOGISTICS
● National Logistics Policy 2022 launched to enhance the logistics sector and boost the
country's trade competitiveness
● Reduce high logistics costs in India from the current 13-14% of GDP to be comparable with
global benchmarks of around 8% by 2030.
● Improve India's ranking in the World Bank's Logistics Performance Index to be among the top
25 countries by 2030
● Pillars
o Integration of Digital System (IDS)
o Unified Logistics Interface Platform (ULIP)
o Ease of Logistics (ELOG) and
o System Improvement Group (SIG)
● India is ranked 38/139 in Logistics Performance Index, 2023 by World Bank,
AGRICULTURE SECTOR
6) DATA ( source Indian economy: a Review)

● The agricultural sector constitutes 18% of India's GVA in FY24,
● It grew at an average annual rate of 3.7 % from FY15 to FY23 compared to 3.4 % from FY05 to
FY14.
● Total food grains production for FY23 was 329.7 million tonnes, marking a rise of 14.1 million
tonnes compared to the previous year.
● India is the largest producer of milk, pulses, and spices worldwide
● India ranks second-largest producer of fruits, vegetables, tea, farmed fish, sugarcane, wheat,
rice, cotton, and sugar.
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7) MSP
● MSP is the minimum price set by the government at which it purchases crops from farmers
● It is announced at the start of each sowing season for 23 crops
● It is fixed on the recommendations of the Commission for Agricultural Costs and Prices
(CACP).
● The CCEA takes the final decision on MSP
● Calculation - A2 + FL: This includes the A2 costs plus an imputed value of unpaid family labor
● Swaminathan Committee (National Commission on Farmers) recommended 50% more than
C2
● Since the agricultural year 2018-19, the government has ensured a minimum of 50 % margin
over the all-India weighted average cost of production for each crop covered under MSP.
● MSP is announced for 14 crops for Kharif, 6 Rabi crops and 2 crash crops (Copra and Raw
Jute)
● Sugarcane (Fair and Remunerative Price)
8) WORLD’S LARGEST GRAIN STORAGE PLAN

● Recently centre started the pilot Project of the 'World's Largest Grain Storage Plan in
Cooperative Sector' in 11 PACS of 11 states
● 700 lakh tonne storage capacity will be created in the next five years, with an investment of
₹1.25 lakh crore. Under the scheme, thousands of warehouses and godowns will be
constructed across the country
● It aims to seamlessly integrate PACS godowns with the food grain supply chain, with a
collaborative effort of NABARD and spearheaded by the National Cooperative Development
Corporation (NCDC).
● The initiative is being implemented through the convergence of various existing schemes like
the Agriculture Infrastructure Fund (AIF), Agriculture Marketing Infrastructure (AMI), etc.
● PACS are the basic units and foundation of the cooperative credit structure in India. They
form the bottom rung of the three-tier cooperative credit system.
● They are registered under the respective State Cooperative Societies Act and work at the
village/gram panchayat level
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9) PM AASHA
● To ensure remunerative prices to farmers for their produce
● The scheme has three main components:
● Price Support Scheme (PSS): Physical procurement of pulses, oilseeds, and copra is done by
central nodal agencies like NAFED in collaboration with state governments at MSP.
● Price Deficiency Payment Scheme (PDPS): Direct payment to farmers of the difference
between MSP and selling market price for crops like oilseeds. It does not involve physical
procurement.
● Private Procurement & Stockist Scheme (PPSS): This allows the participation of private
players in procurement operations
10) SEEDS
● PB-1847, PB-1885 and PB-1886 are new improved varieties of basmati rice developed by the
Indian Agricultural Research Institute (IARI),
● HD-3385 is a new high-yielding and climate-smart wheat variety developed by IARI In Feb
2023
● Ministry of Cooperation has set up Bhartiya Beej Sahkari Samiti Limited under the Multi-
State Cooperative Societies (MSCS) Act, 2002. The BBSSL will undertake production,
procurement & distribution of quality seeds under single brand through cooperative
networks to improve crop yield and develop a system for preservation and promotion of
indigenous natural seeds.
11) MILK PRODUCTION IN INDIA

● India is the largest producer of milk
● Milk price rise has been driving overall food inflation in the country.
● Reasons affecting the shortage of milk and dairy products in India
○ Lumpy skin disease
○ Rise in fodder prices
○ Stagnation in the number of high-yield dairy cattle and buffaloes
○ Revival of consumer demand
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12) FERTILIZER SECTOR - PM PRANAM
● PM Programme for Restoration, Awareness Generation, Nourishment and Amelioration of
Mother –Earth (PM-PRANAM)
● Aims to incentivize states and union territories to promote alternative fertilizers and reduce
excessive use of chemical fertilizers.
● States that consume less chemical fertilizers than their 3-year average will receive 50% of the
subsidy savings as a grant.
● 70% of the grant can be used for creating assets related to production and adoption of
alternative fertilizers at village/block/district levels. 30% of the grant can be utilized for
incentivizing farmers, panchayats, FPOs, SHGs involved in reducing fertilizer use and
awareness generation.
No separate budget allocation, the scheme will be funded through savings from existing
fertilizer subsidy schemes.
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CA - 240422

● Trade deficit is the difference between a country's imports and exports.

3) LIBERALISED REMITTANCE SCHEME (LRS)

4) PLI ( production-linked incentive scheme)

6) DATA ( source Indian economy: a Review)

8) WORLD’S LARGEST GRAIN STORAGE PLAN

11) MILK PRODUCTION IN INDIA

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