Progressing Indian economy:
Challenges:
The Indian economy has faced several challenges in recent times, including:
Weak Demand: The economy has grappled with weak demand, which has impacted various sectors
Unemployment: Rapid growth in unemployment has been a significant challenge, affecting the country's workforce
Poor Infrastructure: India's infrastructure gap, estimated to be around $1.5 trillion, has hindered economic development and the quality of life, particularly in rural areas Balance of Payments Deterioration: The country has been running a persistent current account deficit, reflecting its dependence on foreign goods and services
High Levels of Private Debt: The economy has been burdened by high levels of private debt, impacting financial stability
Inequality: There is a significant disparity between the rich and the poor, posing a challenge to inclusive economic growth
Population Growth: The heavy population pressure has strained the economy, affecting Resource allocation and social welfare
Agrarian Crisis: The agriculture sector, which employs a large portion of the population, has faced challenges, contributing to the overall economic issues
Inflation: High inflation has affected the cost of living and household financial savings, impacting purchasing power
Trade Imbalance and Global Developments: The economy has been influenced by trade imbalances, global demand, and macroeconomic policies, posing risks to growth and development
Income poverty
Causes:
Solutions:
To address income poverty in India, several measures have been proposed and implemented. Some of the common solutions include:
Context: On January 8, 2024, the Union Health Ministry introduced updated regulations in Schedule M of the Drugs and Cosmetics Rules, 1945, aiming to strengthen the oversight of pharmaceutical and biopharmaceutical products.
Good Manufacturing Practices (GMP) for Pharmaceutical Companies:
GMP for Pharmaceutical Companies in India:
Revised Schedule M of Drugs: Need and Changes Introduced
Implementation of Revised Schedule M Rules:
Implementation of the revised rules is based on company turnovers: Small and medium manufacturers (annual turnover less than ₹250 crore) must comply within 12 months, while large manufacturers (annual turnover exceeding ₹250 crore) have a six-month timeframe for implementation.
Significance of Government's Revision of Schedule M:
Sohrai paintings
Context: On January 8, 2024, a secluded village in Bengal embraced the commencement of the New Year by hosting a workshop dedicated to the ancient indigenous art form known as Sohrai Painting.
About Sohrai Painting:
Theme and Elements:
Geographical Practice:
Primarily practiced by indigenous communities, Sohrai Painting finds expression in the states of Jharkhand, Bihar, Odisha, and West Bengal. The Hazaribagh region in Jharkhand has received a Geographical Indication (GI) tag for this distinctive art form.
Artistic Custodians:
Sohrai Painting serves as the artistic expression of women from tribes like Kurmi, Santal, Munda, Oraon, Agaria, and Ghatwal.
Distinctive Features:
Renowned for vibrant colors, intricate patterns, and symbolic motifs, Sohrai paintings carry a unique visual identity.
Sohrai Festival:
An annual Sohrai festival marks the harvesting season and the onset of winter, celebrating the rich cultural significance of this art form.
Context: On January 8, 2024, the ICAR-Central Tuber Crops Research Institute (CTCRI) issued a cautionary advisory regarding the feeding of animals with cassava, commonly known as tapioca.
About Tapioca Plant:
Climatic Requirements:
Cyanogenic Glucosides (CNGs):
Risk of Cyanide Poisoning:
Feeding crushed peels or leaves immediately after crushing, or without proper drying, poses a high risk of cyanide poisoning in animals. Proper processing and precautions are essential to mitigate the toxic effects of cyanogenic glucosides in tapioca plants.
Context: The reappearance of toxic foam in the Indrayani River has revived concerns about pollution in the region.
About Indrayani River :
Bhima River:
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