The Minimum Support Price (MSP) for paddy, the primary cereal grown during the Kharif season, has been increased by ₹117 per quintal. For the 2024-25 marketing season, the MSP for Kharif crops has been raised by 5 to 12%. However, regional disparities in MSP benefits show the inadequacy of existing procurement mechanisms especially for perishable commodities like cauliflower, tomato, potato, onion etc.
The introduction of Corporate Average Fuel Consumption (CAFC) standards in 2017 was a much-needed step to regulate the energy consumption of passenger cars. These standards aimed to curb average fuel consumption to 5.49 litres per 100 kilometres (or 129.8 g/km CO2) and, subsequently, to 4.77 litres (113 g/km CO2) by 2022-23. While these regulations set the stage for a shift, their targets, though commendable on paper, reveal significant gaps in ambition.
The introduction of Corporate Average Fuel Consumption (CAFC) standards in 2017 was a much-needed step to regulate the energy consumption of passenger cars. These standards aimed to curb average fuel consumption to 5.49 litres per 100 kilometres (or 129.8 g/km CO2) and, subsequently, to 4.77 litres (113 g/km CO2) by 2022-23. While these regulations set the stage for a shift, their targets, though commendable on paper, reveal significant gaps in ambition.
India's cobalt imports have risen from $474.7 million in 2019-20 to $716 million in 2022-23, reflecting a recovery after a dip to $394.4 million in 2020-21 due to the pandemic. The steady growth in recent years highlights the increasing demand for cobalt, crucial for sectors like electronics and EVs.
India is the third-largest contributor to global fashion waste, generating approximately 7.8 million tonnes annually, following China (20 million tonnes) and the USA (17 million tonnes). Despite its vast recycling potential, India's textile waste highlights an urgent need for circular solutions.
Departing from a socialist form of governance and adopting a market centric approach post the 1991 LPG reforms, India’s average growth rate rose from 4% to 6%. Supreme Court’s ruling on Article 39(b) clarifying that not all private property can be considered as a community resource, reinforces individual property rights and allows the invisible hand of markets to drive the economy.
The comparison of AQI levels from 2018 to 2023 clearly shows that the AQI in the post Diwali day is always higher than pre Diwali and the Diwali day, indicating the rise in pollution and the economic woes that follows Diwali season.
From 2019-20 to 2023-24, India's lithium imports grew by over 60%, reflecting an upward trajectory that is likely to accelerate further in the coming years. However, the data also indicates a fluctuating pattern—after an initial dip in 2021-22, the import value surged again, reaching a peak in 2023-24 at US $33.41 million.
The primary reason for increasing plastic pollution is mismanagement of plastic waste. China has made significant strides in improving its waste management efficiency. India and other developing countries have a long road ahead.
Following the COVID-19 pandemic, inflation surged, prompting the RBI to raise interest rates. While inflation has since edged closer to the RBI's 4% target, underlying inflationary pressures remain. As a result, the chances of the key policy rate budging at the next MPC meeting are slim to none.
Today, as in FY24, the Centre’s capex stands at 3.2% of GDP; up from 1.5% of GDP in FY18. Budget documents mention a whopping Rs. 11,11,111 crore allocated just for infrastructure.
From the early 2000s, with exports of just US $44 billion, India has exploded onto the global trade scene, surpassing US $450 billion today. It’s been a wild ride, and the best is yet to come.
Over the past decade, the economic dynamics between India and Singapore have experienced significant turbulence, particularly in their bilateral trade relations. From 2015-16 to 2023-24, the value of exports from India to Singapore steadily increased, peaking at US $14.41 billion in 2023-24.
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