Gold Chain

DIMENSIONS OF AI  DEVELOPMENT  NITI Aayog's  roadmap on AI for Inclusive Societal Development in India proposes AI  driven initiatives to uplift India's 490 million informal workers by improving productivity, social security, market access, and skill development through inclusive digital infrastructure and multi stakeholder efforts.Artificial Intelligence AI  provides  computer program,the ability to think and learn on its own, and become a simulation of human intelligence. Generative AI facilitate both direct and indirect applications to work  on structured data. Commonly known direct applications comprise of leveraging natural  language for structured database generating different  types of data  including historical, tabular, time series data etc. Studies have shown that  AI  would be a force of good , but it can transfom into a most disruptive force as well. For the first time we are experiencing something that is smarter t...

 MIGRATION POLICY  India's emigration policy currently is   significantly  dependent on the Emigration  Act 1983.The Act  mandates Indian nationals seeking overseas employment must obtain emigration clearance from one of the ten offices of the Protector of Emigrants (POE) ,unless they fall under exempted category.Emigration clearance is required to the category of individuals with lower educational qualifications or those traveling to certain countries  which are commonly classified as individuals for whom "Emigration Check Required ".Even prior to 1983 Government of India has been introducing emigration policy from time to time  laying down the procedures to be followed for persons to allow them to emigrate abroad. As per Emigration Act of 1952 emigration of unskilled workers were prohibited and skilled workers were permitted  to emigrate after clearance by the  Protectors  of Emigrants  at the ports of embarkation aftsr ...

 INFLOW OF REMITTANCES  Remittances of  diaspora  working abroad play a crucial role in buttressing  the Balance of Payments particularly in the economies of developing countries.  The people who move to other  countries for work send back funds to their home countries which is known as remittances, Remittances not only support lower income households to  secure access to essential needs like food, housing, education health care services etc, but also  Provide as  an additional source of  finance  to relatively  wealthy households which can be further invested in  different businesses and entrepreneurial ventures. Such investments  promote creation of jobs  economic and social development etc.in remittances recieving countries. It has been observed that above 60 countries reported remittances accounting for more than 3% of  Gross Domestic Product (GDP ).Recent  advances in fintech technology , UPI ...

Reserve Bank of India ( RBI) through its Monetary policy Committee (MPC  )  chaired by RBI Governor Sanjay Malhotra decided to reduce the repo  rate by 25 basis points to reach 5.25% from already existing 5.50%. MPC conviction is that headline inflation will stay benign for the next 6-9 months and hence the unanimous decision on repo rate came.Repo rate refers  to the interest rate at which RBI lends short term funds to banks against Government securities. Reduction  in repo rates directly reduce the cost of borrowing, lending rates and likely to boost overall economic activity. Changes in repo rate  as a monetary tool is likely to impinge on liquidity, inflation and flow of credit in the economy. Obviously when banks require short-term funds it is supplied by RBI at prevailing repo rate and in turn commercial banks pledges government securities as per the interest rate charged.  IMPACT  OF REDUCTION IN REPO RATE  When repo rate is reduced it...