Who is Known as the Father of Scientific Management?

Scientific Management is a method that focuses on improving work efficiency by using scientific principles. It involves studying tasks, training workers, and using standardized tools to save time and increase productivity. Developed by Frederick Winslow Taylor, it transformed how industries and factories operate worldwide.

Father of Scientific Management

Frederick Winslow Taylor, also known as F.W. Taylor, is called the Father of Scientific Management. His ideas changed how industries managed their workers, focusing on improving efficiency and eliminating waste.

Taylor’s Focus on Efficiency

Taylor noticed that workers were often inefficient. He believed managers should focus on getting employees to work better together. By studying workflows scientifically, Taylor aimed to create a more productive workplace.

The Five Principles of Scientific Management

Taylor introduced five key principles to make work more efficient:

  • Science, not Rule of Thumb: Decisions should be based on scientific methods, not personal guesses.
  • Harmony, Not Discord: Managers and workers should work together peacefully.
  • Mental Revolution: Both managers and workers should change their thinking to focus on efficiency.
  • Cooperation, Not Individualism: Teamwork is more efficient than working alone.
  • Development of Every Person: Every worker should be trained and developed to perform their best.

Taylor’s Work in the Steel Industry

Taylor worked in the steel industry and saw that inefficiency led to wasted time and resources. He realized that applying scientific methods to management could solve this problem. His ideas were based on observing and analyzing tasks to find the best ways to perform them.

The Term Scientific Management

The term ‘Scientific Management’ was first used in 1910 by Louis Brandeis, who recognized Taylor’s contributions to improving industrial processes. Taylor’s system became a foundation for modern management practices.

ISRO’s PSLV Mission Successfully Deploys European Satellites

On December 5, 2024, ISRO’s PSLV-C59 rocket successfully launched the European Space Agency’s (ESA) advanced Sun-observing mission, Proba-3. The mission aims to explore the Sun’s outer atmosphere by conducting scientific experiments, and it will contribute to the global understanding of space weather, its economic and technological risks, and solar phenomena. Proba-3 is a twin-satellite mission that features the Coronagraph and Occulter spacecraft, which will fly together in a precisely controlled formation to study the Sun’s corona.

Mission Highlights and Key Details

Launch Vehicle

  • The PSLV-C59 rocket, launched from ISRO’s Satish Dhawan Space Centre in Sriharikota, carried ESA’s Proba-3 satellites.
  • PSLV-C59 is a part of the PSLV series, marking the 61st flight of the PSLV rocket and the 26th launch using the PSLV-XL variant.

Launch Reschedule

  • Initially scheduled for December 4, 2024, the launch was rescheduled due to an anomaly in the satellite’s propulsion system. The launch successfully occurred on December 5 at 4:04 pm (IST).

Orbital Details

  • The satellites were placed in a highly elliptical orbit, with a perigee (closest point to Earth) of 600 km and an apogee (farthest point from Earth) of 60,000 km, at an inclination of 59 degrees.

Proba-3 Mission Overview

Primary Objective

  • The mission is a technology demonstration project designed to showcase “precise formation flying.” It aims to study the Sun’s corona by blocking the solar disk with one satellite to allow the other satellite to observe the solar atmosphere.

Spacecraft

  • Occulter: Weighs 240 kg and is responsible for blocking the Sun’s light to make the corona visible.
  • Coronagraph: Weighs 310 kg and is the primary instrument designed to study the Sun’s corona.
  • Formation Flying: The two satellites will fly in tandem, maintaining a precise 150-meter distance to create a “solar eclipse on demand,” mimicking the effects of a solar eclipse for extended periods.

Solar Study

Scientific Importance

  • The Sun’s corona is much hotter than its surface and is the origin of space weather, which can have significant impacts on technology and Earth’s magnetic field. 
  • By observing the corona, scientists can better understand solar activity and its effects on Earth.

Space Weather Risks

  • The mission contributes to assessing the economic and technological risks of space weather, which includes solar flares and coronal mass ejections (CMEs).

Future Insights for ISRO

  • The Proba-3 mission complements ISRO’s earlier achievements, such as the Aditya-L1 mission, which was launched in September 2023 to study the Sun. 
  • This collaboration with ESA enhances ISRO’s capabilities in solar research and space science.

Technology Demonstration

  • The Proba-3 mission will be the first large-scale demonstration of formation flying, where two satellites fly together as a single system. This technology will have broader applications in future space missions.

Summary/Static

Details

Why in the news? ISRO’s PSLV Mission Successfully Deploys European Satellites
Mission Name Proba-3
Launch Vehicle PSLV-C59 (ISRO’s Polar Satellite Launch Vehicle)
Launch Date December 5, 2024, 4:04 PM IST
Mission Objective To study the Sun’s outer atmosphere (corona) using formation flying satellites
Spacecraft – Coronagraph (310 kg)

– Occulter (240 kg)

Orbital Details – Highly elliptical orbit: Perigee: 600 km, Apogee: 60,000 km

– Inclination: 59 degrees

Formation Flying Satellites will fly 150 meters apart in tandem, blocking the solar disk to study the Sun’s corona
Scientific Importance Study of the Sun’s corona, space weather, and solar activity (CMEs and solar flares)
Duration of Mission Satellites will complete one 19-hour orbit around the Earth. The observation of the Sun’s corona will last up to 6 hours per session.
ISRO’s Role Launch services; scientific data collection will be handled by ESA
ESA’s Contribution Scientific observations and experiments on solar activities and space weather risks
Related Mission Complements ISRO’s earlier Aditya-L1 mission for solar research

Where is Gateway of India Located?

The Gateway of India is a famous historical monument located in Mumbai, Maharashtra. It stands near the Arabian Sea and is one of the most iconic landmarks of the city. Built in the early 20th century, it holds great cultural and historical significance for India.

Location of the Gateway of India

The Gateway of India is situated at Apollo Bunder, a popular area in South Mumbai. It stands by the Arabian Sea, offering a stunning view of the water. It is located at the end of Chhatrapati Shivaji Marg and is one of the City’s top tourist destinations.

History of the Gateway of India

The idea of the Gateway of India came after King George V and Queen Mary’s visit to India in 1911. The monument was built to honor their arrival in Mumbai. The foundation stone was laid on March 31, 1911, and the construction was completed in 1924.

Design and Structure of Gateway of India

Designed in the Indo-Saracenic style by architect George Wittet, the Gateway of India stands 26 meters (85 feet) tall. It is made from basalt and has an arch-like structure. The final design was approved in 1914, and the monument was completed a decade later.

Symbolic Significance of Gateway of India

The Gateway of India became a ceremonial entrance to India, especially for Viceroys and new Governors of Bombay. It represented the welcoming of important figures into the country.

Tourist Attractions of Gateway of India

Known as the “Taj Mahal of Mumbai,” the Gateway of India is one of the most visited landmarks in the city. Its location near the sea and its historical importance make it a must-visit for tourists and locals alike.

India Wins ISSA Good Practice Award for Asia and Pacific 2024

India has been awarded the prestigious ISSA Good Practice Award for Asia and Pacific 2024, presented by Dr. Mohammed Azman, President of the International Social Security Association (ISSA), at the Regional Social Security Forum held in Riyadh, Saudi Arabia. The Employees’ Provident Fund Organization (EPFO) also received five Certificates of Merit for its innovative practices in social security delivery. These awards highlight EPFO’s initiatives in enhancing service delivery, communication, and inclusivity, benefiting its large and diverse workforce.

ISSA Good Practice Award for Asia and Pacific

  • India’s EPFO was honored with the prestigious ISSA Good Practice Award for its continuous efforts to reform and enhance social security systems in the country.
  • The award was presented at the Regional Social Security Forum held in Riyadh, Saudi Arabia, a significant platform for discussing social security matters.

Certificates of Merit

EPFO received five Certificates of Merit for outstanding initiatives in various areas of service delivery,

  • Communication Channels
  • E-proceedings
  • Nidhi Aapke Nikat 2.0 (Massive District Outreach Programme)
  • Multilingual Call Centres
  • Prayaas Initiative

Award Categories and Description

Communication Channels

EPFO adopted ISSA Guidelines on communication and implemented them through the Communication Framework Document (CFD).

This multi-channel approach includes:

  • Webinars
  • SMS and emails
  • Social media outreach
  • IEC videos
  • Nidhi Aapke Nikat 2.0 camps for direct engagement.
  • These efforts aim to ensure timely and effective communication with stakeholders.

E-proceedings

  • EPFO revolutionized the judicial inquiry process by transitioning to online e-proceedings, reducing time delays, enhancing transparency, and ensuring fairness in determining dues from defaulting employers.
  • This online system also optimizes compliance processes while increasing the speed of dispute resolution.

Nidhi Aapke Nikat 2.0

  • With 139 Regional Offices and 117 District Offices, EPFO covers large parts of India but still faces gaps in over 500 districts.
  • The Nidhi Aapke Nikat 2.0 programme addresses this by bringing EPFO services closer to members’ homes by conducting grievance resolution camps on the 27th of every month across the country.
  • This initiative ensures the last-mile delivery of services, improving member access to essential services such as claim submission and grievance redressal.

Multilingual Call Centres

  • To address the linguistic diversity across India, EPFO set up multilingual call centres to provide information and resolve grievances in 12 major regional languages.
  • This initiative aligns with ISSA’s Service Quality Guidelines and helps increase member satisfaction by resolving doubts and issues in the language most comfortable to the member.

Prayaas Initiative

  • The Prayaas Initiative ensures Pension Payment Orders (PPO) are provided to retiring members of the Employees’ Pension Scheme (1995) on the day of their retirement.
  • This has significantly improved the pension disbursement process and is an important initiative to prioritize pensioners.

Special Mention for Digital Life Certificate (Jeevan Pramaan Patra)

  • EPFO received a Special Mention for the Digital Life Certificate initiative, known as Jeevan Pramaan Patra, which facilitates biometric-based Aadhaar authentication for pensioners.
  • This initiative has streamlined the life certification process for pensioners, ensuring greater ease and accessibility for senior citizens.

EPFO’s Commitment to Service Delivery and Reform

  • The awards and recognitions reflect EPFO’s commitment to embracing technology and good practices that enhance service delivery, especially in the context of India’s rapidly changing economic and social landscape.
  • EPFO’s initiatives align with the Government’s policy of ease of doing business and ease of living, which aim to make social security services more accessible, efficient, and transparent for the Indian workforce.
Summary/Static Details
Why in the news? India was honored with the ISSA Good Practice Award for Asia and Pacific 2024 and Employees’ Provident Fund Organization (EPFO) also received five Certificates of Merit for its innovative practices in social security delivery.
ISSA Good Practice Award 2024 EPFO recognized for modernizing social security services with innovative and inclusive practices.
Certificates of Merit Communication Channels: Multi-channel strategy (SMS, social media, emails) to enhance stakeholder engagement.

E-proceedings: Online judicial process for faster, transparent, and fair inquiry handling.

Nidhi Aapke Nikat 2.0: Grievance resolution camps for on-the-spot service delivery.

Multilingual Call Centres: Call centres in 12 languages to assist diverse regional members.

Prayaas Initiative: Pension Payment Orders (PPO) given on retirement day for faster processing.

Special Mention Digital Life Certificate (Jeevan Pramaan Patra): Aadhaar-based biometric authentication for pensioners.

Which District of Uttarakhand is Known as the Lake City?

Uttarakhand is a beautiful state in India, known for its scenic landscapes and rich cultural heritage. Among its many picturesque places, one district stands out for its unique feature – the presence of numerous lake. This district is called Nainital.

An Overview of Uttarakhand

Uttarakhand, formerly known as Uttaranchal, is a state in northern India. It is bordered by Himachal Pradesh, Tibet, Nepal, Uttar Pradesh and a small part of Haryana. The state covers 53,483 sq. km and has two divisions: Garhwal and Kumaon. Dehradun is the capital, and Nainital is the judicial capital. Uttarakhand has a lot of forests, covering 45.4% of its area. The Ganges and Yamuna rivers, which are major, begin from the Gangotri and Yamunotri glaciers.

Number of Districts of Uttarakhand

Uttarakhand has 13 districts, which are divided into two regions: Garhwal and Kumaon. These regions help organize the state into manageable areas for administration and development.

Lake City of India

Nainital, a beautiful hill station in the Kumaon region of Uttarakhand, is popularly known as the “Lake City” of India. Famous for its picturesque lakes and breathing natural beauty. Nainital attracts many visitors every year. It is situated at a height of around 2,000 meters above sea level, surrounded by lush green forests and hills.

Why is Nainital Known as the Lake City?

Nainital is known as the “Lake City” because it is famous for its many beautiful lakes, especially Naini Lake. The town is surrounded by picturesque lakes and hills, creating a peaceful and scenic environment. The presence of these lakes, along with their natural beauty, makes Nainital a popular destination for tourists and a unique spot in Uttarakhand.

Location and Beauty of Nainital

Nainital is located in the Nainital district of Uttarakhand. The town is known for its stunning landscapes, with several lakes, including the famous Naini Lake, surrounded by hills. This combination of water and greenery gives the town a serene and peaceful atmosphere, making it a favorite destination for nature lovers and tourists.

The Legend of Naini Lake

The name “Nainital” is derived from two words: “Naina” meaning “eye” and “tal” meaning “lake.” According to local legends, the Naini Lake was created from the left eye of Sati, the consort of Lord Shiva. It is believed that her eye fell to the ground at this location. The Naina Devi Temple, dedicated to Sati, is situated at the northern end of the lake, adding spiritual significance to the area.

Eurogrip Tyres Appoints M.S. Dhoni as Brand Ambassador

Eurogrip Tyres, a leading Indian brand known for its 2, 3-wheeler, and off-highway tyres, has recently signed M.S. Dhoni, the legendary cricketer, as its brand ambassador. The partnership aligns well with Eurogrip Tyres’ core values of performance, reliability, and safety, and aims to enhance the brand’s visibility and trust among consumers. M.S. Dhoni’s deep connection with motorcycles and his emphasis on performance, dependability, and passion for riding mirror the brand’s mission of empowering riders.

Key Points

Brand Ambassador

  • M.S. Dhoni, a celebrated cricketer, has been signed as the brand ambassador for Eurogrip Tyres.

Partnership Highlights

  • Eurogrip Tyres and M.S. Dhoni shares values such as performance, dependability, and passion for riding.
  • Dhoni will endorse the entire range of products in Eurogrip’s portfolio.

M.S. Dhoni’s Statement

  • Dhoni has a deep connection to motorcycles, which predates his cricket career.
  • He emphasizes the importance of selecting the right tyres for a safe and enjoyable ride.
  • Dhoni looks forward to partnering with Eurogrip Tyres for this new journey.

Eurogrip Tyres’ Perspective

  • P. Madhavan, EVP of Marketing & Sales at TVS Srichakra Ltd., expressed excitement about the collaboration, stating that Dhoni represents the core values of the brand.
  • The partnership emphasizes innovation, reliability, and performance for new-age riders.

Company Background

  • Eurogrip Tyres has over 40 years of experience in tyre design and manufacturing.
  • The brand offers a wide range of products suitable for various needs and applications.
  • Eurogrip Tyres’ products are designed in Milan, Italy, and globally tested and certified, ensuring world-class standards.
  • The company provides excellent warranty and after-sales service.
Summary/Static Details
Why in the news? Eurogrip Tyres Appoints M.S. Dhoni as Brand Ambassador
Partnership Highlights Dhoni will endorse the entire Eurogrip Tyres product range, aligning with values of performance, dependability, and passion for riding.
Eurogrip’s Vision The partnership emphasizes Eurogrip’s focus on delivering reliable, high-performance tyres for new-age riders.
Company Background Over 40 years of expertise in tyre manufacturing. Products designed in Milan, Italy, globally tested and certified.

Which Country is Known as The White Rus?

Countries around the world are often known by unique names or titles that reflect their culture, history or geography. These names can symbolize important characteristics, such as country’s natural beauty, its historical significance or even its economic strength. In this article, we will know about the country which is known as “The White Rus.”

The White Rus

Belarus is the country commonly known as the “White Rus.” This name has a special meaning connected to the country’s history and its people. In this article, we will explore the origin of this name, its historical use, translations in different languages, and why it is also called White Ruthenia.

Why is Belarus Known as the White Rus?

Belarus is called “White Rus” because of its historical and cultural roots. The name comes from “Belarussians,” meaning “White Russians.” It may refer to the white clothing worn by the Slavic people or the region’s freedom from Mongol or Tatar rule. The name highlights Belarus’ connection to the old Rus’ lands that were never conquered.

Origin of the Name Belarus

The name “Belarus” comes from the term “Belarussians,” which means “White Russians.” It is believed that the name may have originated from the white clothing worn by the Slavic people living in the area. Another theory is that it comes from the old Rus’ lands, which were never conquered by the Mongols or Tatars. The word “White” could refer to the area’s freedom from foreign rule.

Historical Background of Belarus

In the past, Belarus was known as Belorussia or White Russia. During the Russian Empire, the name “White Russia” was used to highlight the vastness of the empire and the region’s importance. In 1919, Belarus, was occupied by Russia and became the Byelorussian Soviet Socialist Republic (BSSR) under Soviet rule. When Belarus gained independence in 1991, it changes its name to “Belarus,” which is still used today.

Other Names for Belarus

The term “Rus” is often confused with other names like Russia and Ruthenia. Because of this, Belarus is sometimes also called “White Ruthenia.” This confusion arises because of the historical links between Belarus and the broader region known as Rus’ in medieval times.

World Bank Approves $188.28 Million Loan for Maharashtra’s Backward Districts

The World Bank has approved a $188.28 million loan to Maharashtra aimed at boosting economic growth in the state’s underdeveloped districts. This loan, provided by the International Bank for Reconstruction and Development (IBRD), comes with a 15-year maturity period, including a five-year grace period. The project focuses on enhancing district-level governance, improving e-governance services, and fostering private sector involvement to accelerate economic development and job creation.

Key Objectives and Strategies

Boosting District-Level Planning: The initiative will empower districts with essential resources, including data, funding, and expertise, enabling them to optimize public spending and promote inclusive growth.

Creating Maha Databank: A significant aspect of the project is the creation of the Maha Databank, a data governance framework aimed at addressing development challenges such as gender disparities and enabling evidence-based planning.

Improving E-Governance and Private Sector Engagement

Upgrading Digital Platforms: The project will enhance Maharashtra’s key online service portals, such as MAITRI 2.0 for business services and RTS portal for government services, ensuring timely access for the private sector.

Incentive Framework for Districts: Districts that meet annual performance targets will receive fiscal incentives, promoting competition and efficiency in service delivery and governance.

Overcoming Governance Challenges

The initiative addresses significant barriers, including fragmented governance and the lack of credible data, which have hindered growth in backward districts. By improving institutional capability and coordination, the program aims to streamline governance and enhance the interaction between the public and private sectors, ensuring broad-based growth across Maharashtra.

Summary of the news

Why in News Key Points
World Bank Loan to Maharashtra – $188.28 million loan approved by World Bank for Maharashtra’s economic growth, targeting backward districts.
– Provided by International Bank for Reconstruction and Development (IBRD).
– Maturity period: 15 years, with 5 years grace period.
– Focus on improving district-level planning and governance.
– Creation of Maha Databank for addressing development challenges like gender disparity.
– Incentives for districts achieving performance targets.
Key Features of the Loan Program – Maha Databank: Data governance framework for better coordination and analysis.
– Enhancement of Maharashtra’s online service portals (MAITRI 2.0, RTS).
– Strengthening e-governance services, especially in tourism sector.
– Improving service delivery and public-private sector collaboration.
Key People – Auguste Tano Kouamé: World Bank’s Country Director for India.
– Neha Gupta and Thomas Danielewitz: Task Team Leaders for the project.
Maharashtra – Capital: Mumbai.
– CM: Shri Devendra Fadnavis

Pralhad Joshi Launches ‘Anna Chakra’ and SCAN Portal

The Union Minister of Consumer Affairs, Food and Public Distribution and New & Renewable Energy, Shri Pralhad Joshi, launched ‘Anna Chakra’ and SCAN (Subsidy Claim Application for NFSA) portal, marking a significant step toward modernizing India’s Public Distribution System (PDS) and subsidy claim mechanisms.

Anna Chakra: PDS Supply Chain Optimization Tool

Purpose

  • To enhance efficiency in the logistics network of the PDS across India, ensuring the seamless movement of food grains.

Development

  • Created in collaboration with the World Food Programme (WFP) and Foundation for Innovation and Technology Transfer (FITT), IIT-Delhi.
  • Utilizes advanced algorithms to identify optimal routes for food grain movement.

Features and Benefits

  • Supports the world’s largest food security program benefiting 81 crore people.

Cost Savings

  • Estimated savings of ₹250 crore annually.
  • Reduction of QKM (Quantity x Distance) by 58 crore quintal-kilometers.

Environmental Impact

  • Lower carbon footprint due to reduced transportation-related emissions.
  • Savings in fuel consumption and logistics costs.

Scope

  • Covers 30 states, 4.37 lakh Fair Price Shops (FPSs), and ~6,700 warehouses.

Integration

  • Linked with FOIS (Freight Operations Information System) through the Unified Logistics Interface Platform (ULIP).
  • Integrated with the PM Gati Shakti platform, including geo-locations of FPSs and warehouses.

Significance

  • Supports stakeholders from farmers to FPS operators, making the supply chain more robust.
  • Ensures the timely delivery of food grains across the country.

SCAN (Subsidy Claim Application for NFSA) Portal

Purpose

  • To streamline the subsidy claim process under the National Food Security Act (NFSA).

Features

  • Single-window submission of subsidy claims by states.
  • End-to-end workflow automation for claim scrutiny, approval, and settlement.
  • Uses rule-based processing for efficient subsidy release.

Benefits

  • Speeds up the settlement process for food subsidies.
  • Enhances transparency and accountability in subsidy disbursement.
Summary/Static Details
Why in the news? Shri Pralhad Joshi launches ‘Anna Chakra’, the Public Distribution System Supply chain optimisation tool and SCAN (Subsidy Claim Application for NFSA) portal
‘Anna Chakra’ SCAN (Subsidy Claim Application for NFSA) portal
Purpose Optimize PDS supply chain logistics Streamline subsidy claims under NFSA.
Developed By WFP and FITT, IIT-Delhi. Department of Food and Public Distribution (DFPD).
Key Features – Route optimization using advanced algorithms.

– Single-window subsidy claim submission.

– Integration with FOIS and PM Gati Shakti platform. – End-to-end workflow automation for claims processing.
Scope Covers 30 states, 4.37 lakh FPSs, and ~6,700 warehouses. Facilitates state governments’ subsidy claims.
Benefits – ₹250 crore annual savings. – Faster subsidy settlement. – Reduced carbon footprint and logistics costs. – Enhances transparency in subsidy disbursement.
Environmental Impact Reduced emissions due to optimized transportation routes.
Integration Linked with FOIS and PM Gati Shakti platform. Fully automated with rule-based subsidy release.
Significance Supports 81 crore beneficiaries in the world’s largest food security program. Ensures timely and transparent subsidy distribution to states.

OECD Raises India’s FY25 Growth Forecast to 6.8%

The Organisation for Economic Co-operation and Development (OECD) has upgraded India’s GDP growth forecast for FY25 to 6.8%, up from 6.7%, citing robust public infrastructure spending, strong private consumption, and recovery in agricultural output. This growth momentum is expected to be sustained through FY25 and FY26, with investment and rural income growth being central to the economy’s expansion. Despite global economic uncertainties and geopolitical risks, India’s economic resilience points to a promising future.

Key Drivers of Growth

OECD highlights strong public infrastructure investment, vigorous credit growth, and a recovery in farm output as primary contributors to the growth forecast. Agricultural performance, buoyed by above-normal monsoon rains, is expected to ease food prices and inflation, further supporting domestic demand.

Investment and Private Consumption

The acceleration in public spending and vigorous private investment is expected to support growth, maintaining near 7% GDP expansion for the next two years. With robust credit growth aiding private sector investments, India’s economic recovery looks strong, despite a slightly weaker export outlook due to global tensions.

Labour Supply and Structural Shifts

A challenge lies in the labour supply, particularly with sustaining rapid GDP growth. The OECD stresses the need for structural shifts from agricultural employment, improvement in education, and greater focus on youth and female labour force participation to ensure sustained growth.

Global Risks and Inflation Outlook

OECD points to external risks, including a weaker global economic environment and higher commodity import prices, which could slow growth. However, India’s inflation is expected to ease, allowing for monetary policy easing in the coming period. The prudent fiscal policies have helped maintain a steady decline in government deficits and debt despite higher public investment.

Summary of the news

Why in News Key Points
OECD raised India’s GDP growth forecast for FY25 to 6.8% – Up from 6.7% to 6.8% for FY25.
– Growth driven by public infrastructure spending, private consumption, and agricultural recovery.
– Public investment and rural income are key contributors.
Strong private consumption and investment driving GDP growth – Private consumption is growing robustly.
– Public infrastructure spending is accelerating.
– Investment in public and private sectors fueling growth.
OECD highlights the need for structural shifts in labor supply – Focus on improving educational attainment and shifting from agricultural employment.
– Increased youth and female labor force participation required for sustained growth.
India’s export growth outlook affected by global tensions – Slight increase in export growth projected.
– Ongoing global tensions may weaken export prospects.
Inflation expected to ease, creating room for monetary easing – Inflation to decrease, which could allow for easier monetary policy.
Macroeconomic risks from global environment and commodity prices – Risks include a weaker global economy and higher commodity import prices.
– Geopolitical tensions and protectionism may also harm growth.
Fiscal policies remain prudent despite higher public investment – Government deficit and debt are on a persistent downtrend.
– Fiscal policies remain aligned with long-term economic stability.