17 Apr, 2020

  • Categories of Workers – NSO) (Economy) (Trends in employment status)
  • Virtual Reality (Science & Technology)- (Virtual Reality and telemedicine)
  • Reviving Indian Economy (Economy) - (Suggestions for revival of Indian Economy)
  • Depreciation Rupee (Economy) - Reference - (Previous Year Questions on Rupee depreciation)
  • Question of the day (Science)

Prelims Quiz

    Solution.

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    Description

    Unorganized labourers need union and legal cover: Labour expert

    • Understanding different categories of workers in our economy is crucial to understanding overall the context in which our economy operates.
    • Agency responsible for categorization:
    • The NSO data classifies the workers on the basis of employment status into three categories i.e. self-employed workers; regular wage/salaried employees; and casual labourers.
    • The categories we will understand:
      • The self-employed category
      • Regular wage/salaried employees
      • Casual worker includes
      • Self-Employed Category
      • Share of different categories
      • Largest share
      • Regular wage/ Salaried Workers:

     

    Virtual Reality

    • In the backdrop of COIVD 19 pandemic and importance of social distancing the interest in Telemedicine has grown manifold in India with the Ministry of Health releasing guidelines for use of Telemedicine to prevent the spread of infectious diseases.
    • Besides the recent interest in Virtual Reality technologies, convergence of telemedicine and virtual reality can go a long way in transforming the health space in India.
    • What is Virtual Reality?
      • Application of Virtual Reality
      • Medicine
      • Education
      • Advertisements
      • Entertainment
      • Manufacturing

     

    Blueprint to revive the Economy

    • The lockdown imposed due to COVID-19 pandemic has undoubtedly reduced the spread of virus and helped us save a number of lives. However, at the same time, the lockdown has brought economy to a standstill leading to an adverse impact on 90% of India's workforce employed in the informal sector. Thus, in order to deal with the COVID-19, the Government is required to make hard choices between saving lives and protecting livelihoods.
    • What needs to be done?
      • Cash-Transfer
      • Expanding Right to Food:
      • Expanding Right to Work:
      • Resume Economic Activity in Non-Hotspot Areas:
      • Opening Up Transportation lines:
      • Protecting the Formal Jobs
    • How to fund the revival package?

     

    Rupee hits a new low

    • The recent global economic slowdown accompanied by the outbreak of CoVID-19 has raised fears of global economic recession in future. This has in turn led to flight of capital from the developing countries to the developed countries.
    • In case of India, the FPIs have sold over $ 10 billion worth equities and bonds leading to largest ever dollar outflow in a single month. The higher outflow of dollars has in turn put pressure on the Rupee wherein the Rupee has depreciated to historical low value of 75 vis-a-vis dollars.
    • In this regard, let us understand about Rupee Depreciation- Causes, Effect and Solutions?
      • What is Rupee Depreciation?
      • Why does the Rupee value depreciate?
      • What is the Impact of Rupee Depreciation on Economy?
      • Impact on Imports and Exports
      • Impact on Balance of Trade and Current Account
      • Impact on Inflation Rate
      • Impact on Forex Reserves
      • Impact on External Commercial Borrowings (ECBs)
      • What is the Solution to this Problem?
      • Foreign Exchange Sell/ Buy Swap

     

    Comments

    Harshala kamble 2 months ago

    In the 3rd question 1st option is increased imports. It should be Imports become costly. 

    Also can  you explain how depreciating rupee affects ECB

    Tarun Kumar Kedia 2 months ago

    Sir, In Question no. 4 if Rupee Depreciates, exports shall increase which is correct but the other two options do not make sense as contextually with increased exports and decreased imports, the current account deficit will decrease and the foreign exchange reserve will increase. If random and over realistic logics are applied then economics will break as a subject.