Current Affair 1:

India-China Trade

 

Look into image below from Ministry of Commerce.

 

Current Affair 2:

Giving to Amplify Earth Action (GAEA) Initiative

 

The World Economic Forum, supported by more than 45 partners today launched the Giving to Amplify Earth Action (GAEA), a global initiative to fund and grow new and existing public, private and philanthropic partnerships (PPPPs) to help unlock the $3 trillion of financing needed each year to reach net zero, reverse nature loss and restore biodiversity by 2050.

Current Affair 3:

Womaniya initiative on GeM

 

Go through it.

The initiative seeks to develop women entrepreneurship on the margins of society to achieve gender-inclusive economic growth.

Government e Marketplace is a 100 percent government owned company setup under the aegis of Ministry of Commerce and Industry for procurement of common use goods and services by Government ministries, departments and CPSEs. GeM was setup in 2016 and has 731,431 product categories, with 180,862 registered sellers and 32,114 government buyers. Since inception, GeM has processed 1,171,761 orders worth Rs. 16,976 crores in gross merchandise value.

Watch this small video: https://youtu.be/iO7O5tKVRiQ

Current Affair 4:

Productivity Growth in India: RBI Bulletin January 2023

 

Productivity is defined as Output/Input. When output increases without an increase in input OR when output increases more as compared to increase in input then it implies that productivity has increased.

Productivity growth can be achieved either through resource reallocation or technological progress.

Resource reallocation means when labour (resource) is moving from agriculture to industry or when farmers are cultivating fruits and vegetables rather than rice/wheat on their land (resource). Technological progress, example, is use of new machines/technology to increase output.

Highlights:

1. Reallocation of resources from low to high productive sectors accounted for 63 per cent of aggregate productivity growth and 5 per cent of output growth during 2001-2019.
2. A sub-period analysis shows that the aggregate total factor productivity growth increased from 1.33 per cent during 2001-10 to 2.72 per cent during 2011-19 mainly driven by within industry improvement in technological progress.
3. The top-performing sectors that contributed to aggregate productivity are textiles, machinery equipment, and financial and business services.

In India, there exist large productivity differences across sectors. Agriculture, which employs the largest number of workers (around 43%) is one of the lowest productive sectors – around 0.67 times lower than average productivity of the economy.

It can be observed from Chart 1 that the share of agriculture in total GVA has declined from 36.3 per cent in the 1980s to 18.6 per cent during 2018-19. The fall in agriculture share is associated with a rapid increase in output in services sectors, especially market services and finance & business services. The share of industry in GVA remains stagnated.

In terms of employment, the share of the agriculture sector has also decreased from 69.4 per cent in the 1980s to 41.3 per cent during 2018-19. Till now, the agriculture sector remains the largest employment-generating sector for the Indian economy.

The decline in the employment share of the agricultural sector has not been reflected in the equivalent rise of that in the industrial share. The stagnancy of employment in the industry was associated with a rapid increase in construction sector jobs from 2 per cent in the 1980s to 12 per cent in 2018-19.

Employment share in the business and financial services increased from 0.5 per cent in 1980 to 4 per cent in 2018-19.

 

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