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Showing posts with the label Economy

Home-Based Enterprises in India

  India, a land of vibrant culture and entrepreneurial spirit, thrives on the ingenuity and resourcefulness of its people. Amidst the bustling streets and urban landscapes, there lies a significant yet often overlooked segment of the economy – home-based enterprises. These businesses, operated from the comfort of one's home or nearby premises, constitute a crucial component of India's economic fabric, contributing to employment, productivity, and overall economic growth.   1. Evolution of Home-Based Workforce Over the past few decades, the landscape of home-based enterprises in India has witnessed both growth and flux. According to data sourced from the National Sample Survey, the number of home-based workers stood at approximately 47.14 million in 2004-05. This figure saw a modest increase to 49.20 million by 2011-12. However, a noticeable decline was observed in 2017-18, with the estimated count dropping to 41.85 million. Despite this fluctuation, home-based work consis

Budget 2024-25: Receipt, Expenditure, Deficit and Allocations

  The recently unveiled budget for the fiscal year has earmarked significant allocations for key ministries, reflecting the government's priorities and focus areas. The Ministry of Agriculture and Farmer's Welfare leads with a substantial ₹6.2 Lakh Crore, emphasizing the paramount importance of the agricultural sector. Other notable allocations include ₹2.55 Lakh Crore for Defence, ₹2.78 Lakh Crore for Communications, and ₹2.13 Lakh Crore for Road Transport and Highways. These figures underscore the government's commitment to various sectors crucial for national development and welfare. Ministry Allocation (in ₹ Lakh Crore) Ministry of Defence 2.55 Ministry of Road Transport and Highways 2.13 Ministry of Railways 1.68 Ministry of Consumer Affairs, Food & Public Distribution 2.03 Ministry of Home Affairs 1.77 Ministry of Rural Development 1.37 Ministry of Chemicals and Fertilizers 1.68 Ministry of Communications 2.78 Ministry of Agriculture and Farmer's Welfare 6.2 T

Indian government has introduced many initiatives to strengthen the nation's economy

The Indian government has implemented various initiatives to bolster the nation's economy, emphasizing policies like Make in India, Start-up India, and Digital India. Noteworthy measures include the Amrit Bharat Station Scheme for railway station transformation, the Draft Carbon Credit Trading Scheme, and the Foreign Trade Policy 2023. The government aims to enhance manufacturing through schemes like the Production Linked Incentive Scheme for Pharmaceuticals and the PM-DevINE for the North-East Region. Additionally, significant budget allocations and strategic agreements signify a comprehensive approach to economic growth and development. Initiative Date Description Amrit Bharat Station Scheme August 6th, 2023 Transformation and revitalization of 1309 railway stations. Continuous development with a long-term vision. Draft Carbon Credit Trading Scheme June 28th, 2023 Introduced by the Ministry of Environment, Forests, and Climate Change. Foreign Trade Policy 2023 April 1st, 2023 Aim