GS-III: Indian Economy Issues Relating to Planning

What are the pros and cons of launching polymer banknotes? Which countries are issuing such currencies?

  Various forms of currency have been tried out throughout the globe. One such initiative has focused on polymer banknotes produced from biaxially oriented polypropylene (BOPP) sheets, which enable the insertion of significantly more secure features such as metameric ink. ..

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Comment on the situation of the informal sector in India. What are the challenges faced by them? Enumerate the government’s initiatives to benefit this sector.

  The informal economy is a widespread and worldwide phenomena. The informal sector employs over 60% of the world’s population, according to the International Labor Organization. Informal sector in India: Despite being more common in emerging and developing nations, this ..

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What are the pros and cons of a strong Rupee? What can be done to strengthen the currency?

  Over the past several months, there has been a steady decline in the Indian Rupee’s (INR) exchange rate relative to the US Dollar ($). Since the commencement of the conflict in Ukraine and the rise in crude oil prices, ..

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What is the significance of the government’s recent push to facilitate international trade in Rupee, as opposed to the Dollar? What more needs to be done to conserve forex reserves?

  Except for countries like Nepal and Bhutan, a company’s exports and imports are currently always made in foreign currency, particularly the dollar. International trade in domestic currency: By establishing a Vostro account in India, bilateral transactions will now be ..

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What are the pros and cons of a cashless economy? What are the measures taken by the government towards realizing a cashless society?

  A cashless economy is one in which payments are performed digitally rather than traditionally using coins or cash, such as through digital wallets, net banking, mobile banking, and credit and debit card transactions. Merits: It would prevent black money ..

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Explain how the PLI Scheme works. What are the advantages and challenges of the scheme?

The Production Linked Incentive (PLI) scheme Is an initiative of the government to boost the local production of domestic industries by providing them incentives. PLI Scheme: The government provides incentives on incremental sales from products manufactured in domestic units. The ..

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