Minimum Support Price

(Probable Question: Market intervention in the form of 'Minimum Support Prices' have not yielded intended results. Discuss. Suggest reforms.) Minimum Support Prices (MSPs) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. However, there are several problems associated with the MSPs explained … Continue reading Minimum Support Price

National Agriculture Market

(Probable Question: How the electronic-National Agriculture Market (e-NAM) has assisted in solving the problem of highly fragmented agricultural market in India? What are the challenges faced by e-NAM?) Agricultural market in India is highly fragmented. With each farmer confined to a single mandi in many products in many states, we currently have thousands of markets … Continue reading National Agriculture Market

Direct Tax to GDP Ratio

(Probable Question: Discuss the steps taken by the government to increase the direct tax to GDP ratio which has been rather stagnant from 2008-09 onwards.) The direct tax (corporate tax and personal income tax) to GDP ratio has been rather stagnant from 2008-09 onwards, ranging between 5.4% and 5.7%. This is in contrast to the … Continue reading Direct Tax to GDP Ratio

Agriculture Marketing

(Probable Question: Agriculture marketing in India requires wide-ranging policy reforms. Discuss.) A robust 'agricultural marketing' policy is imperative in order to improve the situation of farmers in the country. and without such policy interventions, the aim of doubling farmers income by 2022 would be a pipe-dream. Currently, 'agricultural marketing' in India suffers from policy distortions, … Continue reading Agriculture Marketing

Annual Central Budget or Medium-term Expenditure Framework

(Probable Question: Do you think that it is time for India to move from an annual central budget to, like most modern economies, a multi-year budget?) The Centre’s budget is set for an annual horizon. This means that the revenues and expenditure are decided for the upcoming year. This is in contrast to most of … Continue reading Annual Central Budget or Medium-term Expenditure Framework

Budget Expenditure Strategy

(Probable Question: One fundamental issue with expenditure planning in India has been a strong tendency towards revenue expenditure at the expense of capital expenditure. Explain. Suggest remedial measures.) Budget expenditure is an important tool for the government to advance policy objectives. Therefore, for effective and desired outcomes, along-with allocation of budget to specific sectors, a strategy … Continue reading Budget Expenditure Strategy

Ethics and Artificial Intelligence

Fairness / tackling the biases AI Based on the premise that a large set of well-diversified data may be an accurate description of the world, most of the developer community takes a technocratic attitude that data-driven decision making is good and algorithms are neutral. However, this argument does not recognize the fact that the existing … Continue reading Ethics and Artificial Intelligence