Economics Net Achievers

1. Which of the following activities is part of India’s GDP?
(i) Activities in Indian embassies and consulates in other countries
(ii) Air India services between two different countries
(iii) Economic activities of residents of India in international waters
(iv) Purchase of movie tickets by foreigners in India.
Select the correct answer using the
code given below:
(a) (i) only
(b) (i), (ii) & (iii) only
(c) (iii) & (iv) only
(d) All of the above

Source: Indian Express
Agriculture Exports and Imports. India's agriculture trade has been steadily in surplus

Prime Minister of India, Narendra Modi will be the guest of honour on the 57th anniversary of the independence of Mauritius on March 12.

*Question of the day:*

Where is the first G20 Employment Working Group (EWG) Meeting of 2025 being held?

A) New Delhi, India

B) Geneva, Switzerland

C) Gqebera, South Africa

D) Paris, France

Equity security (stock/ shares) represents ownership held by shareholders (owners) in a company/ corporation. Holders of equity security receive profit/ dividend and capital
gains (share price appreciation).

Seigniorage : refers to the profit from money creation and, thus, is a way for governments to generate revenue without levying conventional taxes.

National Mission on Edible Oils
Approved by Union Cabinet Yesterday. The Mission will be implemented over a seven-year period, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crore. The mission focuses on

1. Enhancing the production of key primary oilseed crops such as Rapeseed-Mustard, Groundnut, Soybean, Sunflower, and Sesamum

2. Increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils

3. Targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement. This will be achieved by promoting adoption of high-yielding high oil content seed varieties, extending cultivation into rice fallow areas, and promoting intercropping.

4. Over 600 Value Chain Clusters will be developed across 347 unique districts which will be managed by value chain partners such as FPOs, cooperatives, and public or private entities

5. The Mission will harness ongoing development of high-quality seeds by using cutting-edge global technologies such as genome editing.

6. The Mission aims to significantly enhance domestic oilseed production, advancing the goal of Atmanirbharta (self-reliance) in edible oils, thereby reducing import dependency and conserving valuable foreign exchange while boosting farmers' incomes.

7. It will also accrue significant environmental benefits in the form of low water usage and improved soil health and making productive use of crop fallow areas.

Note: Presently the country is heavily reliant on imports which account for 57% of its domestic demand for edible oils.

Source: Indian Express

India has become a member of the Minerals Security Finance Network (MSFN) which involves 14 countries and European Union. MSFN is a US led initiative to strengthen cooperation among members to secure supply chain for critical minerals (cobalt, nickel, lithium and rare earth minerals) . This is required for our clean energy transition goals and electronics and semiconductor manufacturing because till now the supply chain of critical minerals are mostly located in China.