CURRENT AFFAIRS

The rates of growth and changes in the structural composition of output and the workforce are the two important indicators of structural transformation in any economy. India has experienced fairly consistent changes in the rates of growth but the trend in employment has not revealed any consistent or clear pattern.

The Preamble to the Constitution declares that India is a ‘Republic’ which shows that India has a form of government in which "supreme power is held by the people and their elected representatives" and the country is considered a "public matter", not the private concern or property of the rulers.

Recently, Oxfam International presented its annual global “Inequality Report” with title Inequality Kills. The report calculated and presented the quantum growth in wealth of a minuscule few, and the simultaneous impoverishment of millions of working people.

The Government has made several efforts to formalise the economy as the formal sector is more productive than the informal sector, and formal workers have access to social security benefits. Efforts based on the “fiscal perspective” of formalisation like currency demonetisation, introduction of the Goods and Services Tax (GST)..

The challenge to feed the 10 billion population by mid-century demands efficient ways of production that are both economically viable and ecologically sustainable.

The Budget allocation by the Central and State governments to education is always a matter of public concern and debate but after the pandemic it became more of concern as the country is facing an education emergency.

The Centre has proposed amendments to the IAS (Cadre) Rules in order to exercise greater control in central deputation of IAS officials, which has often been at the centre of tussles between the Centre and the states.

Implementation of the Goods and Services Tax (GST) in India was a grand experiment in cooperative federalism in which both the Union and the States joined hands to rationalise cascading domestic trade taxes and evolve a value-added tax on goods and services.

An estimate suggests that as many as 10 crore Indians may already have investments exceeding a total of $10 million in them which not only creates an avenue for generation of tax revenue for the nation but also puts forth a Herculean challenge..

Recently, the University of Maryland School of Medicine announced that it had successfully transplanted a genetically-modified pig heart into a patient with life-threatening arrhythmia.