Gold Chain

 The Bay of Bengal Initiative for  Multisectoral Technical and Economic Cooperation (BIMSTEC) is a regional multilateral organization comprising of 7 member countries,  five  from South Asia- Bangladesh, Bhutan, India, Nepal, Srilanka and two from South East Asia namely Myanmar and Thailand. Together they account for estimated 1.5 billion population 3.8  trillion or 22% of global GDP. Established at the outcome of 1997 Bangkok Declaration, (Intially with Bangladesh India, Srilanka and   Thailand  Economic  cooperation, in 1997 and with the inclusion of Myanmar became BIMSTEC and in  2004 two members Nepal and Bhutan were added  it resulted in present full fledged Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation. The main objective of BIMSTEC is creating an enabling environment for the rapid economic development of the region by encouraging the spirit of  equality and partnership. Promoting to achiev...

Eventhough freedom of press as such is not mentioned in the Indian constitution but constitution protected the right to freedom of speech and expression The world press Freedom day 2024 focuses on thie theme " informing the public about the problems and solutions facing the environment. As per World press Freedom Index India ranked 133rd 0ut of 180 countries freedom Index in 2016,while Finland kept the first position continuously  for two years. Finnish communications regulatory authority has detailed regulations dealing with the internet, cyber security, telephone, post,TV and radio. They also publish every details and update news on their website to let the public know their deeds and actions.In 2023 India ranked 161 out of 180 countries with a score of only 36.62 out of 100..In 2022 India's rank was 150.India ranked 159 in the 2024  world press Index  as against Pakistan 152 Afghanistan 172.and China 177."The  press Freedom is defined as the ability of journalists...

The question of widening Inequality of income and wealth across the world and particularly in developing countries like India has been generating frequent debates in the academic and policy  circles particularly after the embarkement of liberaiisation and globalisation policies  adopted by large number of countries.Since the publication of a research paper entitled "Income and wealth Inequality in India ,1922-2023:The Rise of Billonaire Raj" by Thomas Piketty et.al not only revived the debate but also did influence even the election manifestos of political parties in India. The study showed that India is one among the most unequal countries in the world This upward trend in Inequality became more evident after liberalisation and globalisation when the number of billionaires in India rose in US $ terms from just one in 1991,to 52 in 2011 and 162 in 2022.Generalllly reasons attributed to inequality  are    concentration of income and wealth,,inadequate land reform...

 Foreign exchange reserves are assets which are held on reserve  in foreign currencies by  the country's central bank or monetary authority. It is generally held in reserve currencies.usually in US dollar, Euro,Japanese yen and sterling pound.Initially exchange reserves are the main instrument used to manage and  maintain exchange rate stability ,enabling absorption of international money and capital flows .Focus on reserves has been recieving wide interest in the context of rapid liberalisation, globalisation, acceleration of capital flows and integration of financial markets. Volatility in terms of increasing debt,banking and financial crisis in several countries also necessitated the need for international financial architecture in which the management of foreign exchange reserves assumed utmost important. The act of maintaining foreign exchange reserves enhances the confidence in monetary and exchange rate policies,enhancing capacity to intervene in foreign excha...

According International Monetary Fund 's World Economic Outlook released in April Global economy remained remarkably resilient with steady growth and inflation returning to target level which luckily defied both stagflation expectations and global recession,especially in the context of post pandemic supply disruptions, Russian invasion of Ukraine and subsequent global  energy and food crises as well as  monetary tightening resorted  across countries. It is heartening to note that despite many gloomy predictions and forecasts the world not only avoided a recession but also withstood  banking crises,and financial conditions eased,equity  valuation shot up and capital flows to most of the emerging market economies excluding China and few low income countries increased.In this scenario IMF projected global output growth in both 2024 and 2025 at 3.2%  with  median inflation declining from 2.8% in 2024 to 2.4%  by the  end of 2025 .and most indicat...

 Eminent econòmists who shaped Economics theories and policy initially were listed as Adam Smith, Alfred Marshall, J.M. Keynes and Karl Marx .Despite  many writers who had  expressed isolated economic ideas before 1776 it was Adam Smith's " An inquiry Into the nature and causes of WEALTH OF NATIONS " published  248 years ago had laid the foundations of the Economics subject. He examined  the factors that determine the growth and volume of production. The emphasis on production and expansion of wealth became the subject matter of Economics in his approach. According to Alfred Marshall Economics is the study of man in the ordinary business of life. It examines individual and social actions connected with material requisites of wellbeing. A.C.Pigou  along with Marshall were  responsible for developing the branch of welfare Economics which deals with the structure of the economy and  the markets to achieve efficient allocation of goods and resources i...

 The United Nations Conference on Trade and Development(UNCTAD)was established in1964 with the objectives of promoting trade in both primary and manufactured goods, development financing, technology transfer and economic cooperation among developing countries. UNCTAD's2023 report on   Trade and Development  focussed  on themes of  :"Growth ,Debt , Climate-Realigning and Global Financial Architecture", it has projected only a low   growth of 2.4 % in 2023 and outlook for 2024 suggested a modest improvement to 2.5 %  assuming factors like recovery in Euro area and lack of major disturbances in leading economies.Report has identified three specific Global challenges namely weak Global growth, divergence between major and developing countries and increased geopolical factors . Global economy is experiencing fragility and uneven global recovery due to 1.diverging recovery paths,in the context of slower growth across major regions.2.Deepening ...