Frameworks, indices and policy instruments that explain the economic news. 336 concepts, each with its definition, key details and a timeline of every news story that touched it.
India banned bulk wheat exports in May 2022 following concerns about domestic price inflation and supply shortfalls caused by heat stress on the rabi crop....
The kharif season (June–October) is one of India's three agricultural seasons (kharif, rabi, and zaid). It is entirely monsoon-dependent for unirrigated...
The RBI's MPC does not only announce a rate decision — it also communicates a 'stance,' a forward guidance signal about the likely direction of future rate...
NABARD (National Bank for Agriculture and Rural Development) was established on July 12, 1982, on the recommendations of the B. Sivaraman Committee, by...
India's installed nuclear capacity is approximately 7,480 MW (as of 2025), contributing about 3% of total electricity generation. With targets of 100 GW...
Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA), launched in September 2018, is the umbrella scheme under which the central government supports...
PM-AASHA (Pradhan Mantri Annadata Aay SanraksHan Abhiyan) is the umbrella scheme for MSP-based market intervention in pulses, oilseeds, and copra. It was...
The Regional Rapid Transit System (RRTS) is a class of rail transit designed to connect cities within a metropolitan region at high speeds (160-180 kmph)...
SAED is the legal instrument through which India taxes windfall profits earned by energy companies from unusually high international crude oil prices or...
A windfall tax is a one-time or periodic levy imposed on industries that earn unexpectedly high profits due to external events rather than their own...
The 'goldilocks economy' is a macroeconomic concept describing an economy that is growing at a pace that is 'not too hot' (inflationary) and 'not too cold'...
UPSC frequently tests comparative recall of India's two major FCNR(B)-based swap interventions: the 2013 scheme launched during the 'taper tantrum' (when...
The relationship between AI and employment is a central policy debate globally. Two competing frameworks dominate: displacement theory (AI replaces human...
The IMF's analysis of AI's labour market impact rests on two key dimensions: exposure (how much of a job's tasks can be performed by AI) and complementarity...
The Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 provides the statutory basis for using Aadhaar...
Ammonium nitrate (AN) is produced from ammonia (derived from nitrogen fixation) and nitric acid. It has two primary uses: as a high-nitrogen fertilizer in...
Atmanirbhar Bharat (Self-Reliant India) was launched in May 2020 with a ₹20 lakh crore (approximately $268 billion) economic stimulus package, amounting to...
ATF is classified as a petroleum product but, unlike petrol and diesel, it remains outside the GST framework. Its pricing is determined by international...
AB PM-JAY is the world's largest government-funded health assurance scheme. It provides health insurance coverage of ₹5 lakh per family per year for...
The Punjab and Maharashtra Co-operative (PMC) Bank crisis of September 2019, involving large-scale exposure concealment to a single builder group, triggered...
The Brahmaputra is one of the world's major river systems, flowing approximately 2,900 km through Tibet (where it is known as Tsangpo), India (Assam), and...
Corporate Average Fuel Efficiency (CAFE) norms regulate a vehicle manufacturer's entire sales-weighted fleet average fuel consumption/CO2 emissions, rather...
CCUS is a set of technologies that capture carbon dioxide (CO₂) emitted from industrial processes and fossil fuel combustion, then either store it...
The CBDT is the apex statutory authority for administration of direct tax laws in India, constituted under Section 3 of the Central Boards of Revenue Act...
'Circular economy' was first used in its modern analytical sense by economists David Pearce and R. Kerry Turner in 1990, who described 'closed feedback...
The Code on Wages introduced the concept of a national 'floor wage' for the first time in Indian labour law, distinct from the pre-existing 'minimum wage.'...
CGTMSE was established in 2000 jointly by the Ministry of MSME and SIDBI (Small Industries Development Bank of India) to facilitate collateral-free credit...
The Directorate General of Shipping is the apex maritime regulatory authority of India under the Ministry of Ports, Shipping and Waterways. It regulates...
India's approach to energy security involves diversification across supply sources, fuels, and pathways. The Strategic Petroleum Reserves (SPR) programme —...
Capital account inflows are split mainly into Foreign Direct Investment (FDI — long-term, control-seeking investment) and Foreign Portfolio Investment (FPI...
India is one of the world's largest consumers of fertilisers, with urea, DAP, and MOP constituting the bulk of usage. The country depends significantly on...
The Fiscal Responsibility and Budget Management (FRBM) Act, 2003 mandates fiscal discipline. The NK Singh Committee (2017) revised the framework...
Floating solar involves mounting photovoltaic panels on pontoons anchored on reservoirs, irrigation canals, or other inland water bodies rather than on...
The base year of India's GDP series is the reference year against which all other years' output is valued at constant prices to compute 'real' GDP growth....
GST in India operates on a dual (two-tier) structure: the Centre levies Central GST (CGST) and the State levies State GST (SGST) on intrastate transactions...
Koraput Kalajeera rice received its GI tag on January 2, 2024, from the Geographical Indications Registry in Chennai, valid until January 2032. It became...
Global Value Chains (GVCs) refer to the international fragmentation of production where different stages of manufacturing — design, components, assembly...
India's vulnerability to oil price shocks operates through multiple transmission channels. First, the direct import bill channel: higher crude prices widen...
The India Semiconductor Mission (ISM) was established in 2022 as a specialised and independent nodal agency within the Digital India Corporation (DIC) under...
India's digital payments revolution has been driven by a combination of policy mandates, open-architecture infrastructure, and widespread smartphone...
India is the world's largest importer of edible oils, spending over $20 billion annually on imports (2023–24). Palm oil constitutes over 56% of this import...
Energy security refers to the uninterrupted availability of energy sources at an affordable price. India imports approximately 60% of its LPG requirements...
India's regulatory architecture for genetically modified (GM) crops is among the most stringent in the world, involving multiple ministries and committees....
India's journey up the global GDP rankings reflects its structural economic transformation. From being the 10th-largest economy in 2005, India rose to 7th...
India is the 4th largest refiner in the world by capacity. The refining sector is dominated by public sector undertakings (PSUs) under the Ministry of...
India is the third-largest oil consumer globally and the fourth-largest oil importer. Domestic crude production is managed by ONGC (on-shore and off-shore)...
Pulses (lentils, chickpeas, pigeon peas, and moong) are a critical source of plant-based protein, particularly for low-income households in India and across...
India, historically the world's largest rice exporter, banned exports of non-basmati white rice in July 2023 to control domestic prices amid supply...
India's services sector contributes approximately 55% of GDP and accounts for ~40% of total employment. It is the primary engine of India's global export...
India's industrial production remains heavily dependent on coal-based electricity and conventional blast furnace steelmaking — both carbon-intensive...
India is the world's second-largest wheat producer, after China. The wheat belt — primarily Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, and Rajasthan —...
India-US energy cooperation has grown significantly since the India-US Civil Nuclear Agreement (2008), which opened the door for nuclear commerce, and...
India's retail inflation (Consumer Price Index, CPI) is monitored against the RBI's flexible inflation targeting framework (4% target, +/- 2% band...
UPI functions within a two-tier regulatory structure: the Reserve Bank of India as the statutory regulator of all payment systems, and the National Payments...
UPSC frequently tests the precise definitions and formulae behind India's core employment indicators, all derived from PLFS.
The Kharif season runs from June to September (sowing to harvest), coinciding with the southwest monsoon. Major Kharif crops include rice (paddy), maize...
LPG (Liquefied Petroleum Gas) consists primarily of propane and butane — lighter hydrocarbons that liquefy at moderate pressure. It is used primarily for...
MPEDA is a statutory body established in 1972 under the Ministry of Commerce and Industry, headquartered in Kochi. Its mandate is to promote, regulate, and...
Micro, Small and Medium Enterprises (MSMEs) are defined under the MSMED Act 2006 (as amended in 2020): Micro enterprises have investment up to Rs 1 crore...
Make in India was launched in September 2014 by the Ministry of Commerce and Industry, with the objective of transforming India into a global manufacturing...