Introduction In a gig economy, temporary, flexible jobs are commonplace and companies tend to hire independent contractors and freelancers instead of full-time employees. A gig economy undermines the conventional economy of full-time employees, who often prioritise professional advancement. The rapidly burgeoning gig workforce is ushering in a new economic revolution globally. India is the new frontier of this revolution due to its demographic dividend of a half-billion labou

Introduction Subhash Palekar, Maharashtra based agriculturist and Padma Shri recipient, popularised zero-budget natural farming (ZBNF), which refers to the process of growing crops without the use of chemical fertilisers, pesticides, or any other external materials. Farmers instead use low-cost locally sourced natural concoctions, inoculums, and decoctions made from cow dung, urine, jaggery, lilac, green chilies, and a variety of other natural ingredients. The term 'Zero Budg

Introduction The primary goal of the RBI's monetary policy is to maintain price stability while also pursuing growth. Price stability is a prerequisite for long-term growth. Section 45ZB of the amended RBI Act of 1934 empowers the central government to form a six-member Monetary Policy Committee (MPC) to determine the policy interest rate needed to achieve the inflation target. As per Section 45ZB, "the Monetary Policy Committee shall determine the Policy Rate required to ac

Introduction Effective legislative control over government spending necessitates that the Parliament be satisfied that the appropriations have been used economically for the approved purposes within the framework of the grants. It should also conduct a thorough examination of the government's annual budget estimates in order to suggest economic and sound implementation of the plans and programmes embodied therein. Both of these functions are critical to ensuring that parliam

Introduction Inflation is defined as an increase in the prices of goods and services such as food, clothes, housing, recreation, transportation, consumer staples, and so on. Inflation is defined as the average price change over time of a basket of goods and services. The opposite and rare fall in the price index of this basket of items is called ‘deflation’. Inflation is defined as a decrease in the purchasing power of a country's currency unit. This is measured in percenta

Since 1944, the World Bank has grown from a single entity to a tightly knit network of five development institutions. Their mission has evolved from that of the International Bank for Reconstruction and Development (IBRD) as post-war reconstruction and development facilitator to that of global poverty alleviation in close collaboration with the International Development Association and other World Bank Group members. According to the World Bank report, India's GDP growth can

Background It is a 34-nation international economic organisation that was founded in 1961 to promote economic development and global trade. It is a platform for democratic and market-oriented countries to share policy experiences, find solutions to common problems, identify best practices, and coordinate domestic and international policies. Headquarter: The headquarters of the company are in Paris, France. Functions And Responsibilities The OECD publishes and updates a model

The World Trade Organization (WTO) is the only global organisation in charge of enforcing international trade rules. The WTO agreements are at its heart which has been negotiated and signed by the majority of the world's trading nations and ratified by their legislatures. The goal is to help manufacturers of goods and services and exporters and importers run their businesses more efficiently. Ngozi Okonjo-Iweala has been named Director-General of the World Trade Organization

What is National Development Council? The Prime Minister presides over the National Development Council (NDC), also known as the Rashtriya Vikas Parishad, which is India's apex body for development decision-making and deliberation. It was established by Cabinet Secretariat Resolution in August 1952. It was intended to be a meeting place for India's Prime Minister and state Chief Ministers to deliberate and discuss plans and the planning process. The NDC is comprised of all Un

One of the main goals of the development planning process has been to eliminate poverty. The majority of the rural poor are agricultural wage earners, small and marginal farmers, and casual workers engaged in non-agricultural activities. A large proportion of the population is forced to seek employment invocations with extremely low levels of productivity and wages due to a lack of physical and social capital. The creation of jobs for the unskilled workforce has proven to be