Investment, a key pillar of the Union Budget 2025-26, will turbocharge India’s journey to Viksit Bharat by 2047

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Ministry of Education organised Post Budget Webinar on the theme ‘Investing in People’, today. The Prime Minister Shri Narendra Modi delivered a special address at the inaugural session. Union Education Minister Shri Dharmendra Pradhan along with Secretary, Department of School Education & Literacy (DoSEL), Shri Sanjay Kumar; UGC Chairman Professor M. Jagadesh Kumar ; Secretary, Dept. of Higher Education, Shri Vineet Joshi; Secretary, Ministry of Health and Family Welfare Smt. Punya Salila Srivastava; Secretary Labour & Employment Ms. Sumita Dawra participated in the session.

The webinar brought together experts from the government, industry, and academia to discuss key reforms in job creation, academic flexibility, credit mobility, and future-ready skills—paving the way for a highly skilled and globally competitive workforce in line with Viksit Bharat 2047.

Speaking about the webinar, Shri Pradhan said that investment is one of the engines outlined in the Union Budget 2025-2026 which will turbocharge our journey to Viksit Bharat by 2047. He further said that the insightful special address by the Prime Minister Shri Narendra Modi has put forth new ideas for realising aspirations, future-proofing our population, accelerating inclusive development and ensuring benefits of Union Budget reaches every citizen of the country.

He expressed his gratitude to the Prime Minister for drawing attention to the vast potential of ‘Education Tourism’ and its key role in facilitating employment-linked growth and development. The Minister assured that the academic community will engage in comprehensive deliberations to chart out a strong roadmap for moving ahead in this direction. He further said that, together, with the spirit of jan-bhagidari and right investment in right direction, academia and industry will work together for bridging skills gap, harnessing demographic dividend, leveraging AI in education, catalysing research landscape and strengthening deep-tech start-up ecosystem for a future-ready workforce, stronger economy and Viksit Bharat.

Prof M. Jagadesh Kumar opened the session by emphasizing the transformative role of higher education. He highlighted that the implementation of NEP 2020 provided a unique opportunity to reshape India’s higher education landscape. During the webinar, Prof M. Jagadesh Kumar, Chairman, UGC stated that the policy was not merely reformative but transformative, designed to empower youth with the skills, knowledge, and adaptability required to thrive in the 21st century. He stressed that investing in people through quality education, research, and innovation was central to building a self-reliant, inclusive, and globally competitive economy.

Shri Sanjay Kumar stated that education is fundamentally about investing in people. He acknowledged the broad perspective provided by the UGC Chairman on higher education and noted that the 2025-26 Budget included key announcements regarding the establishment of 50,000 Atal Tinkering Labs in government schools over the next five years and the provision of broadband internet connectivity to government schools in rural areas. He further highlighted a significant trend observed over the last decade, noting that the proportion of female teachers has increased. He mentioned that in 2014-15, male teachers comprised 52 percent of the total, while female teachers accounted for 48 percent. By 2025, these figures have reversed, with female teachers now making up 52 percent and male teachers 48 percent, reflecting a move towards greater gender parity in the education sector.

The discussions reinforced the need for strategic investments in human capital to ensure sustainable economic growth, social equity, and global leadership. The government remained committed to fostering a skilled workforce, ensuring India’s continued rise as an innovation and technology hub.

Prime Minister’s address the Post-Budget Webinar on boosting job creation- Investing in People, Economy, and Innovation

Read here: https://pib.gov.in/PressReleasePage.aspx?PRID=2108407

Text of PM’s address at post-budget webinar on boosting job creation via video conferencing Read here: https://pib.gov.in/PressReleasePage.aspx?PRID=2108424

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Farmers’ Welfare Measures

Agriculture is a State subject and Government of India supports the efforts of States through appropriate policy measures, budgetary allocation and various schemes/ programmes. The various schemes/ programmes of the Government of India are meant for the welfare of farmers by increasing production, remunerative returns and income support to farmers. The Government has substantially enhanced the budget allocation of Department of Agriculture & Farmers’ Welfare (DA&FW) from Rs. 21933.50 crore BE during 2013-14 to Rs. 1,22,528.77 crore BE during 2024-25. Schemes/programmes initiated by DA&FW are conceptualised and implemented taken in consideration of improving the economic condition of farmers owning small handholdings, access to credit and to enhance overall income of farmers and remunerative returns in the agriculture sector.

PM KISAN Samman Nidhi Scheme has been launched in 2019 with the sole objective to enhance the income of farmers owning small landholdings. This scheme provides Rs. 6000 per year in 3 equal instalments. So far, more than Rs.3.46 lakh Cr. has been disbursed to eligible farmers through 18 instalments.

The other major schemes run by Department of Agriculture & Farmers Welfare for enhance of overall income of farmers are as under:

Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY)
Pradhan Mantri Fasal Bima Yojana (PMFBY)/ Restructured Weather Based Crop Insurance Scheme (RWBCIS)
Modified Interest Subvention Scheme (MISS)
Agriculture Infrastructure Fund (AIF)
Formation and Promotion of 10,000 new Farmer Producers Organizations (FPOs)
National Bee Keeping and Honey Mission (NBHM)
Namo Drone Didi
National Mission on Natural Farming (NMNF)
Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA)
Agri Fund for Start-Ups & Rural Enterprises’ (AgriSURE)
Per Drop More Crop (PDMC)
Sub-Mission on Agriculture Mechanization (SMAM)
Paramparagat Krishi Vikas Yojana (PKVY)
Soil Health & Fertility (SH&F)
Rainfed Area Development (RAD)
Agroforestry
Crop Diversification Programme (CDP)
Sub-Mission on Agriculture Extension (SMAE)
Sub-Mission on Seed and Planting Material (SMSP)
National Food Security and Nutrition Mission (NFSNM)
Integrated Scheme for Agriculture Marketing (ISAM)
Mission for Integrated Development of Horticulture (MIDH)
National Mission on Edible Oils (NMEO)-Oil Palm
National Mission on Edible Oils (NMEO)-Oilseeds
Mission Organic Value Chain Development for North Eastern Region
Digital Agriculture Mission
National Bamboo Mission

PM-AASHA (Pradhan Mantri Annadata Aay SanraksHan Abhiyan) scheme ensures remunerative prices for farmers’ produce and prevent distress sales. It aims to strengthen the Minimum Support Price (MSP) mechanism and provide better price support for farmers.

“Formation & Promotion of new 10,000 FPOs with budget outlay of Rs 6,865 Crore. Farmers Producer Organization (FPOs) are being set up to give farmers collective bargaining power in markets as well as enabling small farmers to pool resources, access technology, and get better prices for their crops.

Agriculture Infrastructure Fund (AIF) with financial provision of one Lakh Crore scheme has been launched with an objective to mobilize a medium – long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through incentives and financial support in order to improve agriculture infrastructure in the country. Following supports are being provided under Agri Infra Fund.

Interest Subvention: All loans under this financing facility have interest subvention of 3% per annum up to a limit of ₹ 2 crore. This subvention is available for a maximum period of 7 years. In case of loans beyond ₹ 2 crore, interest subvention is limited up to ₹ 2 crore.

Credit Guarantee: Credit guarantee coverage is available for eligible borrowers from this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for a loan up to ₹ 2 crore. The fee for this coverage will be paid by the Government. In case of FPOs the credit guarantee may be availed from the facility created under FPO promotion scheme of DA&FW.

Modified Interest Subvention Scheme (MISS) provides Interest Subvention (IS) of 1.5% to various Financial Institutions (Banks, RRBs, PACS, etc.) for delivering Short-Term Agriculture Operation (STAO) loans at a fixed rate of 7% to farmers through KCC. If the farmer repays the loan within time, he gets a Prompt Repayment Incentive (PRI) of 3%, bringing his loan liability to 4% overall (7% minus 3%). It is exclusively operated through Kisan Credit Card (KCC).

National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds) has been launched on 3^rd Oct, 2024 for enhancing the production of key primary oilseed crops such as Rapeseed-Mustard, Groundnut, Soybean, Sunflower, and Sesamum, as well as increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils. The mission aims to increase primary oilseed production from 39 million tonnes (2022-23) to 69.7 million tonnes by 2030-31. Together with NMEO-OP (Oil Palm), the Mission targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement. To ensure the timely availability of quality seeds, the Mission will introduce an online 5-year rolling seed plan through the ‘Seed Authentication, Traceability & Holistic Inventory (SATHI)’ Portal, enabling states to establish advance tie-ups with seed-producing agencies, including cooperatives, Farmer Producer Organizations (FPOs), and government or private seed corporations. 65 new seed hubs and 50 seed storage units will be set up in public sector to improve the seed production infrastructure.

The following have been proposed in the upcoming budget for income support, improve access to credit and overall growth of agriculture sector:

Enhanced Credit through KCC: – Loan increased from 3 lakh to ₹5 lakh to facilitate short term loans for 7.7 crore farmers, fishermen, and dairy farmers.

Aatmanirbharta in Pulses: – To launch a 6-year Mission with special focus on Tur, Urad and Masoor, emphasizing development and commercial availability of climate resilient seeds, enhancing protein content, increasing productivity and improving post-harvest storage and management, assuring remunerative prices to the farmers.

National Mission on High Yielding Seeds: – Targeted development and propagation of seeds with high yield, pest resistance and climate resilience.

Prime Minister Dhan-Dhaanya Krishi Yojana – It has been proposed Agri Districts Programme to cover 100 districts which is likely to help 1.7 crore farmers.

Mission for Cotton Productivity: – To be launched a 5-year mission to facilitate improvements in productivity and sustainability of cotton farming.

Makhana Board in Bihar: – It is proposed to set up Makhana Board to Improve production, processing, value addition, and marketing and organisation of FPOs.

Agricultural Infrastructure Fund

In order to enhance the income of farmers, it is not only essential to enhance production and productivity of farm produce but also minimize the post-harvest losses and ensure better realization of prices for farmers through creation of modern post-harvest management infrastructure. With an objective to address the existing gaps in post-harvest management infrastructure in the country, the flagship scheme of Agriculture Infrastructure Fund (AIF) was launched in 2020-21 to strengthen the infrastructure in the country through creation of farm gate storage and logistics infrastructure to enable farmers to store and preserve their farm produce properly and sell them in the market at better price with reduced post-harvest losses and lesser number of intermediaries. Improved post-harvest management infrastructure like warehouses, Cold stores, sorting and grading units, ripening chambers etc will allow farmers to sell directly to a larger base of consumers and hence, increase value realization for the farmers. This will improve the overall income of farmers. Further, AIF scheme aims to benefit all stakeholders in the agricultural ecosystem by contributing in the holistic development of the agriculture sector. Under AIF, provision for Rs. 1 Lakh crore loan has been made through lending institutions with a interest rate cap of 9% on loans. The scheme is operational from 2020-21 to 2032-33.

All loans under this financing facility have interest subvention of 3% per annum up to a loan limit of ₹2 crores. This interest subvention is available for a maximum period of 7 years. In case of loans beyond ₹2 crores, interest subvention is limited up to ₹2 crores. Credit guarantee coverage is also available for eligible borrowers from this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for a loan up to ₹2 crores. The fee for this coverage is borne by the Government.

Budgetary support is being provided for interest subvention and credit guarantee fee as also administrative cost of PMU. This will be amount to Rs. 10,636 crores over a period of 10 years. The detailed break up is as below.

SL NO.	Name of Component	Allotted Fund Amount
1	Interest Subvention Cost	Rs. 7907Cr
2	Credit Guarantee Cost	Rs. 2629 Cr
3	Administration Cost of PMU	Rs. 100 Cr
Total		Rs. 10636 Cr

State/UT wise details of Projects approved under AIF scheme during the last three years is as below: –

(Amount in Rs Crore)

Sl.	State / UT	Sanctioned No	Sanctioned Amount
1	Madhya Pradesh	7,701	5,853
2	Maharashtra	6,860	4,151
3	Rajasthan	1,802	2,310
4	Gujarat	2,072	2,215
5	Uttar Pradesh	3,854	3,636
6	Haryana	2,704	2,108
7	Punjab	12,003	3,116
8	Telangana	1,662	2,178
9	Karnataka	2,208	2,148
10	Andhra Pradesh	680	1,116
11	West Bengal	2,537	1,441
12	Tamil Nadu	5,889	1,189
13	Chhattisgarh	814	1,008
14	Odisha	1,098	810
15	Assam	409	726
16	Bihar	848	680
17	Kerala	1,600	604
18	Uttarakhand	236	315
19	Jharkhand	225	255
20	Himachal Pradesh	347	137
21	Jammu And Kashmir	88	198
22	Delhi	7	10
23	Goa	19	10
24	Meghalaya	2	8
25	Chandigarh	2	8
26	Arunachal Pradesh	5	6
27	Tripura	5	10
28	Nagaland	0	0
29	The Dadra And Nagar Haveli And Daman And Diu	1	1
30	Puducherry	2	2
31	Manipur	3	1
32	Mizoram	0	0
33	Sikkim	0	0
34	Ladakh	0	0
35	Lakshadweep	0	0
36	Andaman and Nicobar Islands	0	0
	Total	55,683	36,250

An impact assessment study of AIF was conducted by Agro Economic Research Centre, Gokhale Institute of Politics and Economics, Pune in December 2023 to evaluate overall performance of the scheme, primarily based on feedback from beneficiaries as well as farmers in selected states. The main findings of the study are as below.

1. Based on this study, till 26th January 2025, investment in the agri sector under AIF has generated more than 9 lakh employment opportunities. Out of the sanctioned projects, nearly 97% of the projects created are in rural areas promoting investment and employment opportunities in rural areas.

2. The average number of persons employed per unit in the peak season was found to be 11. The average was highest i.e. 27 in Rajasthan and lowest i.e. 5 in the state of Maharashtra.

3. Further, the storage infrastructure created under AIF has added nearly 550 LMT of storage capacity which includes approx. 510.6 LMT of dry storage and nearly 39.4 LMT of Cold storage capacities (as on 26.01.2025). This additional storage capacity can save up to 20.4 LMT of food grains and 3.9 LMT of horticulture produce annually.

4. The Agro processing centres created under the scheme is promoting timely value-addition of farmer’s produce resulting in increase in farmer’s income up to 20% and reduction of post-harvest losses. Custom hiring centres set up under the scheme is boosting farm mechanization and adoption of better crop residue management practices.

5. 31 percent of the AIF units have availed of government subsidies also. Thus, they have been benefitted due to Convergence under AIF.

6. For around 85 percent of the total units, availability of AIF loan was the main reason for starting the unit.

‘GYAN BHARATAM MISSION’ TO PRESERVE OVER 1 CRORE MANUSCRIPTS

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Union Minister for Education Shri Dharmendra Pradhan lauded the Budget 2025-26, emphasizing it as a budget that takes everyone together and prioritizes welfare, well-being, and empowerment of all citizens while firmly placing India on the path to achieving the goal of developed India by 2047. The Minister expressed his gratitude to the Prime Minister Shri Narendra Modi and Finance Minister Smt. Nirmala Sitharaman for a visionary and futuristic Budget.

Shri Dharmendra Pradhan said that this Budget is aiming to cater to the comprehensive requirements, right from childhood to youth, who would be leading from the front in realizing the Viksit Bharat agenda in 2047 and beyond.

He further stated that the Budget announcements encompass today’s entire youth demographic, who will lead the nation for the next 25 years. This will strengthen the Bhartiya Gyan Parampara within our education system and foster a global community, he added.

The Minister highlighted that the Budget 2025-26 emphasizes investing in people and facilitating all-round development of India’s human capital. He noted that with “Gareeb, Yuva, Annadata, and Naari” as the pillars, this budget would uplift sentiments of the poor and middle class, accelerate spending, catalyze investments, and spur growth. He emphasized that it would remove regional imbalances, build rural prosperity, nurture research, innovation and entrepreneurship, invigorate the education and skilling landscape, and lead to employment-led development.

The Minister expressed gratitude for continuing with bigger and bolder investments in education, skilling, research, and innovation, stating that this budget represents another big leap towards empowering India’s population with more opportunities for world-class education and building capacities of human capital.

The Minister informed that the total budget allocation for the Ministry of Education has reached ₹128,650 crore, marking a 6.22% increase over BE 2024-25.

Union Education Minister informed that Fifty thousand Atal Tinkering Labs (ATL) will be set up in Government schools in next 5 years to cultivate the spirit of curiosity and innovation, and foster a scientific temper among young minds. With this, students of all Government secondary schools will have access to ATL. The Union Budget also proposes to provide Broadband connectivity to all Government secondary schools and primary health centres in rural areas under the BharatNet project, he added.

Shri Pradhan informed that the total number of students in 23 IITs has increased 100 per cent from 65,000 to 1.35 lakh in the past 10 years. Additional infrastructure will be created in the 5 IITs started after 2014 to facilitate education for 6,500 more students. Hostel and other infrastructure capacity at IIT, Patna will also be expanded, he further added.

Shri Pradhan said that with the aim to help students understand their subjects better, it is proposed to implement a Bharatiya Bhasha Pustak Scheme to provide digital-form Indian language books for school and higher education.

The Union Minister also informed that five National Centres of Excellence for skilling will be set up with global expertise and partnerships to equip youth with the skills required for “Make for India, Make for the World” manufacturing. The partnerships will cover curriculum design, training of trainers, a skills certification framework, and periodic reviews.

Shri Pradhan highlighted that the fourth AI Centre of Excellence in Education, envisioned in the Budget 2025-26, aims to revolutionize India’s educational system from pre-primary to professional and research levels. By harnessing artificial intelligence, it seeks to address disparities and inefficiencies, ensuring equitable and high-quality education across the nation. This Centre of Excellence in Artificial Intelligence for Education will be established with a total outlay of ₹500 crore, he added

The Minister informed the allocation of Rs 20,000 crore to implement private sector driven Research, Development and Innovation. In the next five years, under the PM Research Fellowship scheme, provision of ten thousand fellowships for technological research in IITs and IISc with enhanced financial support is also proposed in the Budget, he added.

The Minister informed that a Gyan Bharatam Mission for survey, documentation and conservation of our manuscript heritage with academic institutions, museums, libraries and private collectors will be undertaken to cover more than 1 crore manuscripts. A National Digital Repository of Indian knowledge systems for knowledge sharing will also be set up.

D/o School Education & Literacy

The Budget Allocation for the FY 2025-26 of ₹ 78572 Cr is the highest ever for the Department of School Education & Literacy.
There has been an overall increase of ₹ 5074 Cr (7%) in the Budget Allocation of Department of School Education and Literacy in the FY 2025-26 from BE 2024-25. As compared to RE of FY 2024-25, there has been an increase of ₹ 11,000 Cr (16.28 %).
The highest ever Budget Allocation may be seen in the Autonomous Body of Kendriya Vidyalaya Sangathan (KVS) at Rs. 9,503 Cr. Allocation in KVS has increased by ₹ 201.17 Cr as compared to Budget allocation of FY 2024-25. There has been an increase of ₹ 776 Cr (9%) as compared to RE of FY 2024-25.
Budget Allocation of FY 2025-26 in Flagship Schemes have increased i.e Samagra Shiksha (by ₹ 3750 Cr), PM-POSHAN (by ₹ 32 Cr) and PM-SHRI (by ₹ 1450 Cr) with respect to Budget Allocation (BE) of FY 2024-25. As compared to RE 2024-25, allocation in Samagra Shiksha has increased by ₹ 4240 Cr (11%), allocation in PM-POSHAN has increased by ₹ 2500 Cr (25 %) and allocation in PM-SHRI has increased by ₹ 3000 Cr (66%).
Out of the overall Budget Allocation in FY 2025-26 of ₹ 78,572 Cr, the Scheme allocation is ₹ 63,089 Cr and Non-Scheme Allocation is ₹ 15,483 Cr.

Increase in Scheme Allocation in BE 2025-26 is ₹ 5284 Cr (9.14 %) as compared to BE 2024-25. As compared to RE 24-25, increase in Scheme Allocation is ₹ 10248 Cr (19%) and non-Scheme allocation has increased by ₹ 752 Cr (5%) in BE 2025-26.
Fifty thousand (50,000) Atal Tinkering Labs (ALT) will be set up in Government schools in next five years to cultivate the spirit of curiosity and innovation, and foster a scientific temper among young minds.
Broadband connectivity will be provided to all Government secondary schools under BharatNet project in the next three years.

Department of Higher Education, Ministry of Education

The overall Budget Allocation in FY 2025-26 is Rs. 50077.95 Cr out of which Scheme allocation is Rs. 6990.88 Cr and Non- Scheme allocation is Rs. 43087.07 cr.
There has been an overall increase of Rs. 2458.18 Cr (5.16%) in the Budget Allocation of Department of Higher Education in the FY 2025-26 with respect to FY 2024-25.

Allocations to Major Autonomous Bodies under Higher Education

The total Allocation of Autonomous Bodies in 2025-26 increased to Rs. 42732 Cr from Rs. 39777.40 in 2024-25. There is increase of 7.42%

Allocation in Central Universities has been kept at Rs. 16691.31 Cr, against Rs. 15928 Cr in 2024-25 which is Rs 763.31 Cr more i.e. 4.79 % increase.
UGC has been allocated Rs.3335.97 Cr in 2025-26, against Rs. 2500 Cr in 2024-25 which is Rs. 835.97 Cr more i.e. 33.44 % increase.
IITs have been allocated Rs. 11349.00 Cr in 2025-26, against Rs. 10324.50 Cr in 2024-25 which is Rs. 1024.50 Cr more i.e. 9.92% increase.
For NITs, Rs.5687.47 Cr has been allocated in FY 2025-26, against Rs.5040 Cr in 2024-25 increasing the allocation by Rs. 647.47 Cr i.e. 12.85% increase.
Deemed Universities have been allocated Rs.604 Cr in 2025-26, against Rs.596 Cr in 2024-25 increasing the allocation by Rs. 8 Cr i.e. 1.34% increase.
IIMs have been allocated Rs.251.89 Cr in 2025-26, against Rs. 212.21 Cr in 2024-25 increasing the allocation by Rs. 39.68 Cr i.e. 18.70% increase.
IIITs have been allocated Rs.407.00 Cr in 2025-26, against Rs.315.91 Cr in 2024-25 increasing the allocation by Rs. 91.09 Cr i.e 28.83 % increase.
Grants for Promotion of Indian Languages have been allocated Rs.347.03 Cr in 2025-26, against Rs.310.10 Cr in 2024-25 increasing the allocation by Rs. 36.93 Cr i.e. 11.91% increase.

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Topics for Writing Content for Internship

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	D23	Organizational Behavior • Transaction Costs • Property Rights
	D24	Production • Cost • Capital • Capital, Total Factor, and Multifactor Productivity • Capacity
	D25	Intertemporal Firm Choice: Investment, Capacity, and Financing
	D26	Crowd-Based Firms
	D29	Other

D3	Distribution
	D30	General
	D31	Personal Income, Wealth, and Their Distributions
	D33	Factor Income Distribution
	D39	Other

D4	Market Structure, Pricing, and Design
	D40	General
	D41	Perfect Competition
	D42	Monopoly
	D43	Oligopoly and Other Forms of Market Imperfection
	D44	Auctions
	D45	Rationing • Licensing
	D46	Value Theory
	D47	Market Design
	D49	Other

D5	General Equilibrium and Disequilibrium
	D50	General
	D51	Exchange and Production Economies
	D52	Incomplete Markets
	D53	Financial Markets
	D57	Input–Output Tables and Analysis
	D58	Computable and Other Applied General Equilibrium Models
	D59	Other

D6	Welfare Economics
	D60	General
	D61	Allocative Efficiency • Cost–Benefit Analysis
	D62	Externalities
	D63	Equity, Justice, Inequality, and Other Normative Criteria and Measurement
	D64	Altruism • Philanthropy • Intergenerational Transfers
	D69	Other

D7	Analysis of Collective Decision-Making
	D70	General
	D71	Social Choice • Clubs • Committees • Associations
	D72	Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
	D73	Bureaucracy • Administrative Processes in Public Organizations • Corruption
	D74	Conflict • Conflict Resolution • Alliances • Revolutions
	D78	Positive Analysis of Policy Formulation and Implementation
	D79	Other

D8	Information, Knowledge, and Uncertainty
	D80	General
	D81	Criteria for Decision-Making under Risk and Uncertainty
	D82	Asymmetric and Private Information • Mechanism Design
	D83	Search • Learning • Information and Knowledge • Communication • Belief • Unawareness
	D84	Expectations • Speculations
	D85	Network Formation and Analysis: Theory
	D86	Economics of Contract: Theory
	D87	Neuroeconomics
	D89	Other

D9	Micro-Based Behavioral Economics
	D90	General
	D91	Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

E. Macroeconomics and Monetary Economics


	E00	General
	E01	Measurement and Data on National Income and Product Accounts and Wealth • Environmental Accounts
	E02	Institutions and the Macroeconomy

E1	General Aggregative Models
	E10	General
	E11	Marxian • Sraffian • Kaleckian
	E12	Keynes • Keynesian • Post-Keynesian • Modern Monetary Theory
	E13	Neoclassical
	E14	Austrian • Evolutionary • Institutional
	E16	Social Accounting Matrix
	E17	Forecasting and Simulation: Models and Applications
	E19	Other

E2	Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy
	E20	General
	E21	Consumption • Saving • Wealth
	E22	Investment • Capital • Intangible Capital • Capacity
	E23	Production
	E24	Employment • Unemployment • Wages • Intergenerational Income Distribution • Aggregate Human Capital • Aggregate Labor Productivity
	E25	Aggregate Factor Income Distribution
	E26	Informal Economy • Underground Economy
	E27	Forecasting and Simulation: Models and Applications
	E29	Other

E3	Prices, Business Fluctuations, and Cycles
	E30	General
	E31	Price Level • Inflation • Deflation
	E32	Business Fluctuations • Cycles
	E37	Forecasting and Simulation: Models and Applications
	E39	Other

E4	Money and Interest Rates
	E40	General
	E41	Demand for Money
	E42	Monetary Systems • Standards • Regimes • Government and the Monetary System • Payment Systems
	E43	Interest Rates: Determination, Term Structure, and Effects
	E44	Financial Markets and the Macroeconomy
	E47	Forecasting and Simulation: Models and Applications
	E49	Other

E5	Monetary Policy, Central Banking, and the Supply of Money and Credit
	E50	General
	E51	Money Supply • Credit • Money Multipliers
	E52	Monetary Policy
	E58	Central Banks and Their Policies
	E59	Other

E6	Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
	E60	General
	E61	Policy Objectives • Policy Designs and Consistency • Policy Coordination
	E62	Fiscal Policy • Modern Monetary Theory
	E63	Comparative or Joint Analysis of Fiscal and Monetary Policy • Stabilization • Treasury Policy
	E64	Incomes Policy • Price Policy
	E65	Studies of Particular Policy Episodes
	E66	General Outlook and Conditions
	E69	Other

E7	Macro-Based Behavioral Economics
	E70	General
	E71	Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy

F. International Economics


	F00	General
	F01	Global Outlook
	F02	International Economic Order and Integration

F1	Trade
	F10	General
	F11	Neoclassical Models of Trade
	F12	Models of Trade with Imperfect Competition and Scale Economies • Fragmentation
	F13	Trade Policy • International Trade Organizations
	F14	Empirical Studies of Trade
	F15	Economic Integration
	F16	Trade and Labor Market Interactions
	F17	Trade Forecasting and Simulation
	F18	Trade and Environment
	F19	Other

F2	International Factor Movements and International Business
	F20	General
	F21	International Investment • Long-Term Capital Movements
	F22	International Migration
	F23	Multinational Firms • International Business
	F24	Remittances
	F29	Other

F3	International Finance
	F30	General
	F31	Foreign Exchange
	F32	Current Account Adjustment • Short-Term Capital Movements
	F33	International Monetary Arrangements and Institutions
	F34	International Lending and Debt Problems
	F35	Foreign Aid
	F36	Financial Aspects of Economic Integration
	F37	International Finance Forecasting and Simulation: Models and Applications
	F38	International Financial Policy: Financial Transactions Tax; Capital Controls
	F39	Other

F4	Macroeconomic Aspects of International Trade and Finance
	F40	General
	F41	Open Economy Macroeconomics
	F42	International Policy Coordination and Transmission
	F43	Economic Growth of Open Economies
	F44	International Business Cycles
	F45	Macroeconomic Issues of Monetary Unions
	F47	Forecasting and Simulation: Models and Applications
	F49	Other

F5	International Relations, National Security, and International Political Economy
	F50	General
	F51	International Conflicts • Negotiations • Sanctions
	F52	National Security • Economic Nationalism
	F53	International Agreements and Observance • International Organizations
	F54	Colonialism • Imperialism • Postcolonialism
	F55	International Institutional Arrangements
	F59	Other

F6	Economic Impacts of Globalization
	F60	General
	F61	Microeconomic Impacts
	F62	Macroeconomic Impacts
	F63	Economic Development
	F64	Environment
	F65	Finance
	F66	Labor
	F68	Policy
	F69	Other

G. Financial Economics


	G00	General
	G01	Financial Crises

G1	General Financial Markets
	G10	General
	G11	Portfolio Choice • Investment Decisions
	G12	Asset Pricing • Trading Volume • Bond Interest Rates
	G13	Contingent Pricing • Futures Pricing
	G14	Information and Market Efficiency • Event Studies • Insider Trading
	G15	International Financial Markets
	G17	Financial Forecasting and Simulation
	G18	Government Policy and Regulation
	G19	Other

G2	Financial Institutions and Services
	G20	General
	G21	Banks • Depository Institutions • Micro Finance Institutions • Mortgages
	G22	Insurance • Insurance Companies • Actuarial Studies
	G23	Non-bank Financial Institutions • Financial Instruments • Institutional Investors
	G24	Investment Banking • Venture Capital • Brokerage • Ratings and Ratings Agencies
	G28	Government Policy and Regulation
	G29	Other

G3	Corporate Finance and Governance
	G30	General
	G31	Capital Budgeting • Fixed Investment and Inventory Studies • Capacity
	G32	Financing Policy • Financial Risk and Risk Management • Capital and Ownership Structure • Value of Firms • Goodwill
	G33	Bankruptcy • Liquidation
	G34	Mergers • Acquisitions • Restructuring • Corporate Governance
	G35	Payout Policy
	G38	Government Policy and Regulation
	G39	Other

G4	Behavioral Finance
	G40	General
	G41	Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

G5	Household Finance
	G50	General
	G51	Household Saving, Borrowing, Debt, and Wealth
	G52	Insurance
	G53	Financial Literacy
	G59	Other

H. Public Economics


	H00	General

H1	Structure and Scope of Government
	H10	General
	H11	Structure, Scope, and Performance of Government
	H12	Crisis Management
	H13	Economics of Eminent Domain • Expropriation • Nationalization
	H19	Other

H2	Taxation, Subsidies, and Revenue
	H20	General
	H21	Efficiency • Optimal Taxation
	H22	Incidence
	H23	Externalities • Redistributive Effects • Environmental Taxes and Subsidies
	H24	Personal Income and Other Nonbusiness Taxes and Subsidies
	H25	Business Taxes and Subsidies
	H26	Tax Evasion and Avoidance
	H27	Other Sources of Revenue
	H29	Other

H3	Fiscal Policies and Behavior of Economic Agents
	H30	General
	H31	Household
	H32	Firm
	H39	Other

H4	Publicly Provided Goods
	H40	General
	H41	Public Goods
	H42	Publicly Provided Private Goods
	H43	Project Evaluation • Social Discount Rate
	H44	Publicly Provided Goods: Mixed Markets
	H49	Other

H5	National Government Expenditures and Related Policies
	H50	General
	H51	Government Expenditures and Health
	H52	Government Expenditures and Education
	H53	Government Expenditures and Welfare Programs
	H54	Infrastructures • Other Public Investment and Capital Stock
	H55	Social Security and Public Pensions
	H56	National Security and War
	H57	Procurement
	H59	Other

H6	National Budget, Deficit, and Debt
	H60	General
	H61	Budget • Budget Systems
	H62	Deficit • Surplus
	H63	Debt • Debt Management • Sovereign Debt
	H68	Forecasts of Budgets, Deficits, and Debt
	H69	Other

H7	State and Local Government • Intergovernmental Relations
	H70	General
	H71	State and Local Taxation, Subsidies, and Revenue
	H72	State and Local Budget and Expenditures
	H73	Interjurisdictional Differentials and Their Effects
	H74	State and Local Borrowing
	H75	State and Local Government: Health • Education • Welfare • Public Pensions
	H76	State and Local Government: Other Expenditure Categories
	H77	Intergovernmental Relations • Federalism • Secession
	H79	Other

H8	Miscellaneous Issues
	H80	General
	H81	Governmental Loans • Loan Guarantees • Credits • Grants • Bailouts
	H82	Governmental Property
	H83	Public Administration • Public Sector Accounting and Audits
	H84	Disaster Aid
	H87	International Fiscal Issues • International Public Goods
	H89	Other

I. Health, Education, and Welfare


	I00	General

I1	Health
	I10	General
	I11	Analysis of Health Care Markets
	I12	Health Behavior
	I13	Health Insurance, Public and Private
	I14	Health and Inequality
	I15	Health and Economic Development
	I18	Government Policy • Regulation • Public Health
	I19	Other

I2	Education and Research Institutions
	I20	General
	I21	Analysis of Education
	I22	Educational Finance • Financial Aid
	I23	Higher Education • Research Institutions
	I24	Education and Inequality
	I25	Education and Economic Development
	I26	Returns to Education
	I28	Government Policy
	I29	Other

I3	Welfare, Well-Being, and Poverty
	I30	General
	I31	General Welfare, Well-Being
	I32	Measurement and Analysis of Poverty
	I38	Government Policy • Provision and Effects of Welfare Programs
	I39	Other

J. Labor and Demographic Economics


	J00	General
	J01	Labor Economics: General
	J08	Labor Economics Policies

J1	Demographic Economics
	J10	General
	J11	Demographic Trends, Macroeconomic Effects, and Forecasts
	J12	Marriage • Marital Dissolution • Family Structure • Domestic Abuse
	J13	Fertility • Family Planning • Child Care • Children • Youth
	J14	Economics of the Elderly • Economics of Disability • Non-Labor Market Discrimination
	J15	Economics of Minorities, Races, Indigenous Peoples, and Immigrants • Non-labor Discrimination
	J16	Economics of Gender • Non-labor Discrimination
	J17	Value of Life • Forgone Income
	J18	Public Policy
	J19	Other

J2	Demand and Supply of Labor
	J20	General
	J21	Labor Force and Employment, Size, and Structure
	J22	Time Allocation and Labor Supply
	J23	Labor Demand
	J24	Human Capital • Skills • Occupational Choice • Labor Productivity
	J26	Retirement • Retirement Policies
	J28	Safety • Job Satisfaction • Related Public Policy
	J29	Other

J3	Wages, Compensation, and Labor Costs
	J30	General
	J31	Wage Level and Structure • Wage Differentials
	J32	Nonwage Labor Costs and Benefits • Retirement Plans • Private Pensions
	J33	Compensation Packages • Payment Methods
	J38	Public Policy
	J39	Other

J4	Particular Labor Markets
	J40	General
	J41	Labor Contracts
	J42	Monopsony • Segmented Labor Markets
	J43	Agricultural Labor Markets
	J44	Professional Labor Markets • Occupational Licensing
	J45	Public Sector Labor Markets
	J46	Informal Labor Markets
	J47	Coercive Labor Markets
	J48	Public Policy
	J49	Other

J5	Labor–Management Relations, Trade Unions, and Collective Bargaining
	J50	General
	J51	Trade Unions: Objectives, Structure, and Effects
	J52	Dispute Resolution: Strikes, Arbitration, and Mediation • Collective Bargaining
	J53	Labor–Management Relations • Industrial Jurisprudence
	J54	Producer Cooperatives • Labor Managed Firms • Employee Ownership
	J58	Public Policy
	J59	Other

J6	Mobility, Unemployment, Vacancies, and Immigrant Workers
	J60	General
	J61	Geographic Labor Mobility • Immigrant Workers
	J62	Job, Occupational, and Intergenerational Mobility
	J63	Turnover • Vacancies • Layoffs
	J64	Unemployment: Models, Duration, Incidence, and Job Search
	J65	Unemployment Insurance • Severance Pay • Plant Closings
	J68	Public Policy
	J69	Other

J7	Labor Discrimination
	J70	General
	J71	Discrimination
	J78	Public Policy
	J79	Other

J8	Labor Standards: National and International
	J80	General
	J81	Working Conditions
	J82	Labor Force Composition
	J83	Workers’ Rights
	J88	Public Policy
	J89	Other

K. Law and Economics


	K00	General

K1	Basic Areas of Law
	K10	General
	K11	Property Law
	K12	Contract Law
	K13	Tort Law and Product Liability • Forensic Economics
	K14	Criminal Law
	K15	Civil Law • Common Law
	K16	Election Law
	K19	Other

K2	Regulation and Business Law
	K20	General
	K21	Antitrust Law
	K22	Business and Securities Law
	K23	Regulated Industries and Administrative Law
	K24	Cyber Law
	K25	Real Estate Law
	K29	Other

K3	Other Substantive Areas of Law
	K30	General
	K31	Labor Law
	K32	Energy, Environmental, Health, and Safety Law
	K33	International Law
	K34	Tax Law
	K35	Personal Bankruptcy Law
	K36	Family and Personal Law
	K37	Immigration Law
	K38	Human Rights Law • Gender Law • Animal Rights Law
	K39	Other

K4	Legal Procedure, the Legal System, and Illegal Behavior
	K40	General
	K41	Litigation Process
	K42	Illegal Behavior and the Enforcement of Law
	K49	Other

L. Industrial Organization


	L00	General

L1	Market Structure, Firm Strategy, and Market Performance
	L10	General
	L11	Production, Pricing, and Market Structure • Size Distribution of Firms
	L12	Monopoly • Monopolization Strategies
	L13	Oligopoly and Other Imperfect Markets
	L14	Transactional Relationships • Contracts and Reputation • Networks
	L15	Information and Product Quality • Standardization and Compatibility
	L16	Industrial Organization and Macroeconomics: Industrial Structure and Structural Change • Industrial Price Indices
	L17	Open Source Products and Markets
	L19	Other

L2	Firm Objectives, Organization, and Behavior
	L20	General
	L21	Business Objectives of the Firm
	L22	Firm Organization and Market Structure
	L23	Organization of Production
	L24	Contracting Out • Joint Ventures • Technology Licensing
	L25	Firm Performance: Size, Diversification, and Scope
	L26	Entrepreneurship
	L29	Other

L3	Nonprofit Organizations and Public Enterprise
	L30	General
	L31	Nonprofit Institutions • NGOs • Social Entrepreneurship
	L32	Public Enterprises • Public-Private Enterprises
	L33	Comparison of Public and Private Enterprises and Nonprofit Institutions • Privatization • Contracting Out
	L38	Public Policy
	L39	Other

L4	Antitrust Issues and Policies
	L40	General
	L41	Monopolization • Horizontal Anticompetitive Practices
	L42	Vertical Restraints • Resale Price Maintenance • Quantity Discounts
	L43	Legal Monopolies and Regulation or Deregulation
	L44	Antitrust Policy and Public Enterprises, Nonprofit Institutions, and Professional Organizations
	L49	Other

L5	Regulation and Industrial Policy
	L50	General
	L51	Economics of Regulation
	L52	Industrial Policy • Sectoral Planning Methods
	L53	Enterprise Policy
	L59	Other

L6	Industry Studies: Manufacturing
	L60	General
	L61	Metals and Metal Products • Cement • Glass • Ceramics
	L62	Automobiles • Other Transportation Equipment • Related Parts and Equipment
	L63	Microelectronics • Computers • Communications Equipment
	L64	Other Machinery • Business Equipment • Armaments
	L65	Chemicals • Rubber • Drugs • Biotechnology • Plastics
	L66	Food • Beverages • Cosmetics • Tobacco • Wine and Spirits
	L67	Other Consumer Nondurables: Clothing, Textiles, Shoes, and Leather Goods; Household Goods; Sports Equipment
	L68	Appliances • Furniture • Other Consumer Durables
	L69	Other

L7	Industry Studies: Primary Products and Construction
	L70	General
	L71	Mining, Extraction, and Refining: Hydrocarbon Fuels
	L72	Mining, Extraction, and Refining: Other Nonrenewable Resources
	L73	Forest Products
	L74	Construction
	L78	Government Policy
	L79	Other

L8	Industry Studies: Services
	L80	General
	L81	Retail and Wholesale Trade • e-Commerce
	L82	Entertainment • Media
	L83	Sports • Gambling • Restaurants • Recreation • Tourism
	L84	Personal, Professional, and Business Services
	L85	Real Estate Services
	L86	Information and Internet Services • Computer Software
	L87	Postal and Delivery Services
	L88	Government Policy
	L89	Other

L9	Industry Studies: Transportation and Utilities
	L90	General
	L91	Transportation: General
	L92	Railroads and Other Surface Transportation
	L93	Air Transportation
	L94	Electric Utilities
	L95	Gas Utilities • Pipelines • Water Utilities
	L96	Telecommunications
	L97	Utilities: General
	L98	Government Policy
	L99	Other

M. Business Administration and Business Economics • Marketing • Accounting • Personnel Economics


	M00	General

M1	Business Administration
	M10	General
	M11	Production Management
	M12	Personnel Management • Executives; Executive Compensation
	M13	New Firms • Startups
	M14	Corporate Culture • Diversity • Social Responsibility
	M15	IT Management
	M16	International Business Administration
	M19	Other

M2	Business Economics
	M20	General
	M21	Business Economics
	M29	Other

M3	Marketing and Advertising
	M30	General
	M31	Marketing
	M37	Advertising
	M38	Government Policy and Regulation
	M39	Other

M4	Accounting and Auditing
	M40	General
	M41	Accounting
	M42	Auditing
	M48	Government Policy and Regulation
	M49	Other

M5	Personnel Economics
	M50	General
	M51	Firm Employment Decisions • Promotions
	M52	Compensation and Compensation Methods and Their Effects
	M53	Training
	M54	Labor Management
	M55	Labor Contracting Devices
	M59	Other

N. Economic History


	N00	General
	N01	Development of the Discipline: Historiographical; Sources and Methods

N1	Macroeconomics and Monetary Economics • Industrial Structure • Growth • Fluctuations
	N10	General, International, or Comparative
	N11	U.S. • Canada: Pre-1913
	N12	U.S. • Canada: 1913–
	N13	Europe: Pre-1913
	N14	Europe: 1913–
	N15	Asia including Middle East
	N16	Latin America • Caribbean
	N17	Africa • Oceania

N2	Financial Markets and Institutions
	N20	General, International, or Comparative
	N21	U.S. • Canada: Pre-1913
	N22	U.S. • Canada: 1913–
	N23	Europe: Pre-1913
	N24	Europe: 1913–
	N25	Asia including Middle East
	N26	Latin America • Caribbean
	N27	Africa • Oceania

N3	Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy
	N30	General, International, or Comparative
	N31	U.S. • Canada: Pre-1913
	N32	U.S. • Canada: 1913-
	N33	Europe: Pre-1913
	N34	Europe: 1913-
	N35	Asia including Middle East
	N36	Latin America • Caribbean
	N37	Africa • Oceania

N4	Government, War, Law, International Relations, and Regulation
	N40	General, International, or Comparative
	N41	U.S. • Canada: Pre-1913
	N42	U.S. • Canada: 1913–
	N43	Europe: Pre-1913
	N44	Europe: 1913–
	N45	Asia including Middle East
	N46	Latin America • Caribbean
	N47	Africa • Oceania

N5	Agriculture, Natural Resources, Environment, and Extractive Industries
	N50	General, International, or Comparative
	N51	U.S. • Canada: Pre-1913
	N52	U.S. • Canada: 1913–
	N53	Europe: Pre-1913
	N54	Europe: 1913–
	N55	Asia including Middle East
	N56	Latin America • Caribbean
	N57	Africa • Oceania

N6	Manufacturing and Construction
	N60	General, International, or Comparative
	N61	U.S. • Canada: Pre-1913
	N62	U.S. • Canada: 1913–
	N63	Europe: Pre-1913
	N64	Europe: 1913–
	N65	Asia including Middle East
	N66	Latin America • Caribbean
	N67	Africa • Oceania

N7	Transport, Trade, Energy, Technology, and Other Services
	N70	General, International, or Comparative
	N71	U.S. • Canada: Pre-1913
	N72	U.S. • Canada: 1913–
	N73	Europe: Pre-1913
	N74	Europe: 1913–
	N75	Asia including Middle East
	N76	Latin America • Caribbean
	N77	Africa • Oceania

N8	Micro-Business History
	N80	General, International, or Comparative
	N81	U.S. • Canada: Pre-1913
	N82	U.S. • Canada: 1913–
	N83	Europe: Pre-1913
	N84	Europe: 1913–
	N85	Asia including Middle East
	N86	Latin America • Caribbean
	N87	Africa • Oceania

N9	Regional and Urban History
	N90	General, International, or Comparative
	N91	U.S. • Canada: Pre-1913
	N92	U.S. • Canada: 1913–
	N93	Europe: Pre-1913
	N94	Europe: 1913–
	N95	Asia including Middle East
	N96	Latin America • Caribbean
	N97	Africa • Oceania

O. Economic Development, Innovation, Technological Change, and Growth


O1	Economic Development
	O10	General
	O11	Macroeconomic Analyses of Economic Development
	O12	Microeconomic Analyses of Economic Development
	O13	Agriculture • Natural Resources • Energy • Environment • Other Primary Products
	O14	Industrialization • Manufacturing and Service Industries • Choice of Technology
	O15	Human Resources • Human Development • Income Distribution • Migration
	O16	Financial Markets • Saving and Capital Investment • Corporate Finance and Governance
	O17	Formal and Informal Sectors • Shadow Economy • Institutional Arrangements
	O18	Urban, Rural, Regional, and Transportation Analysis • Housing • Infrastructure
	O19	International Linkages to Development • Role of International Organizations

O2	Development Planning and Policy
	O20	General
	O21	Planning Models • Planning Policy
	O22	Project Analysis
	O23	Fiscal and Monetary Policy in Development
	O24	Trade Policy • Factor Movement Policy • Foreign Exchange Policy
	O25	Industrial Policy
	O29	Other

O3	Innovation • Research and Development • Technological Change • Intellectual Property Rights
	O30	General
	O31	Innovation and Invention: Processes and Incentives
	O32	Management of Technological Innovation and R&D
	O33	Technological Change: Choices and Consequences • Diffusion Processes
	O34	Intellectual Property and Intellectual Capital
	O35	Social Innovation
	O36	Open Innovation
	O38	Government Policy
	O39	Other

O4	Economic Growth and Aggregate Productivity
	O40	General
	O41	One, Two, and Multisector Growth Models
	O42	Monetary Growth Models
	O43	Institutions and Growth
	O44	Environment and Growth
	O47	Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergence
	O49	Other

O5	Economywide Country Studies
	O50	General
	O51	U.S. • Canada
	O52	Europe
	O53	Asia including Middle East
	O54	Latin America • Caribbean
	O55	Africa
	O56	Oceania
	O57	Comparative Studies of Countries

P. Political Economy and Comparative Economic Systems


	P00	General

P1	Capitalist Economies
	P10	General
	P11	Planning, Coordination, and Reform
	P12	Capitalist Enterprises
	P13	Cooperative Enterprises
	P14	Property Rights
	P16	Capitalist Institutions • Welfare State
	P17	Performance and Prospects
	P18	Energy • Environment
	P19	Other

P2	Socialist and Transition Economies
	P20	General
	P21	Planning, Coordination, and Reform
	P22	Prices
	P23	Factor and Product Markets • Industry Studies • Population
	P24	National Income, Product, and Expenditure • Money • Inflation
	P25	Urban, Rural, and Regional Economics
	P26	Property Rights
	P27	Performance and Prospects
	P28	Natural Resources • Energy • Environment
	P29	Other

P3	Socialist Institutions and Their Transitions
	P30	General
	P31	Socialist Enterprises and Their Transitions
	P32	Collectives • Communes • Agriculture
	P33	International Trade, Finance, Investment, Relations, and Aid
	P34	Financial Economics
	P35	Public Economics
	P36	Consumer Economics • Health • Education and Training • Welfare, Income, Wealth, and Poverty
	P37	Legal Institutions • Illegal Behavior
	P39	Other

P4	Other Economic Systems
	P40	General
	P41	Planning, Coordination, and Reform
	P42	Productive Enterprises • Factor and Product Markets • Prices • Population
	P43	Public Economics • Financial Economics
	P44	National Income, Product, and Expenditure • Money • Inflation
	P45	International Trade, Finance, Investment, and Aid
	P46	Consumer Economics • Health • Education and Training • Welfare, Income, Wealth, and Poverty
	P47	Performance and Prospects
	P48	Legal Institutions • Property Rights • Natural Resources • Energy • Environment • Regional Studies
	P49	Other

P5	Comparative Economic Systems
	P50	General
	P51	Comparative Analysis of Economic Systems
	P52	Comparative Studies of Particular Economies
	P59	Other

Q. Agricultural and Natural Resource Economics • Environmental and Ecological Economics


	Q00	General
	Q01	Sustainable Development
	Q02	Commodity Markets

Q1	Agriculture
	Q10	General
	Q11	Aggregate Supply and Demand Analysis • Prices
	Q12	Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
	Q13	Agricultural Markets and Marketing • Cooperatives • Agribusiness
	Q14	Agricultural Finance
	Q15	Land Ownership and Tenure • Land Reform • Land Use • Irrigation • Agriculture and Environment
	Q16	R&D • Agricultural Technology • Biofuels • Agricultural Extension Services
	Q17	Agriculture in International Trade
	Q18	Agricultural Policy • Food Policy • Animal Welfare Policy
	Q19	Other

Q2	Renewable Resources and Conservation
	Q20	General
	Q21	Demand and Supply • Prices
	Q22	Fishery • Aquaculture
	Q23	Forestry
	Q24	Land
	Q25	Water
	Q26	Recreational Aspects of Natural Resources
	Q27	Issues in International Trade
	Q28	Government Policy
	Q29	Other

Q3	Nonrenewable Resources and Conservation
	Q30	General
	Q31	Demand and Supply • Prices
	Q32	Exhaustible Resources and Economic Development
	Q33	Resource Booms
	Q34	Natural Resources and Domestic and International Conflicts
	Q35	Hydrocarbon Resources
	Q37	Issues in International Trade
	Q38	Government Policy
	Q39	Other

Q4	Energy
	Q40	General
	Q41	Demand and Supply • Prices
	Q42	Alternative Energy Sources
	Q43	Energy and the Macroeconomy
	Q47	Energy Forecasting
	Q48	Government Policy
	Q49	Other

Q5	Environmental Economics
	Q50	General
	Q51	Valuation of Environmental Effects
	Q52	Pollution Control Adoption and Costs • Distributional Effects • Employment Effects
	Q53	Air Pollution • Water Pollution • Noise • Hazardous Waste • Solid Waste • Recycling
	Q54	Climate • Natural Disasters and Their Management • Global Warming
	Q55	Technological Innovation
	Q56	Environment and Development • Environment and Trade • Sustainability • Environmental Accounts and Accounting • Environmental Equity • Population Growth
	Q57	Ecological Economics: Ecosystem Services • Biodiversity Conservation • Bioeconomics • Industrial Ecology
	Q58	Government Policy
	Q59	Other

R. Urban, Rural, Regional, Real Estate, and Transportation Economics


	R00	General

R1	General Regional Economics
	R10	General
	R11	Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
	R12	Size and Spatial Distributions of Regional Economic Activity
	R13	General Equilibrium and Welfare Economic Analysis of Regional Economies
	R14	Land Use Patterns
	R15	Econometric and Input–Output Models • Other Models
	R19	Other

R2	Household Analysis
	R20	General
	R21	Housing Demand
	R22	Other Demand
	R23	Regional Migration • Regional Labor Markets • Population • Neighborhood Characteristics
	R28	Government Policy
	R29	Other

R3	Real Estate Markets, Spatial Production Analysis, and Firm Location
	R30	General
	R31	Housing Supply and Markets
	R32	Other Spatial Production and Pricing Analysis
	R33	Nonagricultural and Nonresidential Real Estate Markets
	R38	Government Policy
	R39	Other

R4	Transportation Economics
	R40	General
	R41	Transportation: Demand, Supply, and Congestion • Travel Time • Safety and Accidents • Transportation Noise
	R42	Government and Private Investment Analysis • Road Maintenance • Transportation Planning
	R48	Government Pricing and Policy
	R49	Other

R5	Regional Government Analysis
	R50	General
	R51	Finance in Urban and Rural Economies
	R52	Land Use and Other Regulations
	R53	Public Facility Location Analysis • Public Investment and Capital Stock
	R58	Regional Development Planning and Policy
	R59	Other

Y. Miscellaneous Categories


Y1	Data: Tables and Charts
	Y10	Data: Tables and Charts

Y2	Introductory Material
	Y20	Introductory Material

Y3	Book Reviews (unclassified)
	Y30	Book Reviews (unclassified)

Y4	Dissertations (unclassified)
	Y40	Dissertations (unclassified)

Y5	Further Reading (unclassified)
	Y50	Further Reading (unclassified)

Y6	Excerpts
	Y60	Excerpts

Y7	No Author General Discussions
	Y70	No Author General Discussions

Y8	Related Disciplines
	Y80	Related Disciplines

Y9	Other
	Y90	Other
	Y91	Pictures and Maps
	Y92	Novels, Self-Help Books, etc.

Z. Other Special Topics


	Z00	General

Z1	Cultural Economics • Economic Sociology • Economic Anthropology
	Z10	General
	Z11	Economics of the Arts and Literature
	Z12	Religion
	Z13	Economic Sociology • Economic Anthropology • Language • Social and Economic Stratification
	Z18	Public Policy
	Z19	Other

Z2	Sports Economics
	Z20	General
	Z21	Industry Studies
	Z22	Labor Issues
	Z23	Finance
	Z28	Policy
	Z29	Other

Z3	Tourism Economics
	Z30	General
	Z31	Industry Studies
	Z32	Tourism and Development
	Z33	Marketing and Finance
	Z38	Policy
	Z39	Other

Success Story of UPI – Crossed 10 Billion Transactions

Daily writing prompt

What is the greatest gift someone could give you?

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By Shashikant Nishant Sharma

The Unified Payments Interface (UPI) has emerged as a game-changer in India’s financial landscape, revolutionizing digital transactions. This critical essay assesses UPI’s evolution, highlighting its undeniable success in fostering financial inclusion and empowering users. UPI’s exponential growth, from millions to billions of transactions, underscores its widespread acceptance. UPI faces significant challenges. Security concerns and frauds pose threats, highlighting the need for robust cybersecurity measures. The digital divide and accessibility issues persist, raising questions about equitable access. Transaction costs burden small businesses, hindering widespread adoption. Regulatory complexities and concerns about market dominance call for a more transparent and equitable ecosystem. Additionally, privacy concerns surround the vast amount of transaction data generated. UPI’s impact on India’s financial landscape is undeniable, but it is essential to address its challenges. Balancing convenience, security, and affordability while ensuring accessibility for all, alongside robust regulations and privacy protection, will be crucial for UPI’s continued success.

The Unified Payments Interface (UPI) has emerged as a transformative force in the Indian financial landscape, revolutionizing the way people conduct transactions. Since its inception in 2016, UPI has garnered immense popularity and is hailed as one of India’s most successful fintech innovations. While UPI’s growth and impact on financial inclusion are commendable, it is crucial to critically examine its various facets to understand both its strengths and limitations.

The Rise of UPI

UPI’s success is indisputable. Its user-friendly interface and bank interoperability have made it accessible to millions of Indians. The rapid adoption of UPI can be attributed to its simplicity and convenience, enabling users to send and receive money seamlessly. Its growth from a mere 0.2 million transactions in August 2016 to over 10 billion transactions in August 2023 is a testament to its widespread acceptance.

Financial Inclusion: UPI’s Greatest Triumph

One of the most significant achievements of UPI is its role in furthering financial inclusion. It has allowed people in remote areas to access banking services, make digital payments, and participate in the formal financial system (Daya & Madar, 2018). The Jan Dhan Yojana and Aadhar integration have played pivotal roles in enabling this, but UPI has acted as the vehicle for reaching the underserved.

Security Concerns and Frauds

While UPI offers numerous benefits, it has its share of challenges. Security concerns and frauds have been a growing issue. Despite stringent regulations and guidelines, instances of phishing, social engineering, and unauthorized access have been reported. The ease of transferring funds via UPI has made it an attractive target for cybercriminals (Jajodia & Krishnaswamy, 2017).

Digital Divide and Accessibility

Another critical issue is the digital divide in India. While UPI has made banking services more accessible, it has also left behind a significant portion of the population that lacks access to smartphones, the internet, or digital literacy. The government must address these disparities to ensure that the benefits of UPI reach every citizen.

Transaction Costs and Merchant Concerns

For businesses, minimal vendors, UPI has been a double-edged sword. While it provides a platform for digital payments, the associated transaction fees can be burdensome, particularly for those operating on slim profit margins. This cost factor has led to a reluctance to adopt UPI, which is a concern for the broader goal of a cashless economy.

Regulatory Challenges

The regulatory framework governing UPI needs continuous refinement. Disputes over revenue sharing between various stakeholders and concerns about monopolistic behavior by certain players like Google Pay and PhonePe have highlighted the need for stricter regulation. An equitable and transparent ecosystem is essential to maintain UPI’s integrity.

Privacy Concerns

UPI transactions generate a significant amount of data, which raises concerns about user privacy. The potential misuse of transaction data for profiling or targeted advertising requires robust data protection regulations and practices.

Concluding Remarks

UPI’s emergence in India has undoubtedly transformed the country’s payment landscape and has contributed to greater financial inclusion. However, it is essential to critically assess its impact and address the challenges it faces. Striking the right balance between convenience, security, and affordability, while ensuring accessibility for all, is crucial for the continued success of UPI. Additionally, regulatory and privacy concerns must be addressed to safeguard users’ interests and maintain trust in this revolutionary payment system.

References

Daya, H., & Mader, P. (2018). Did demonetisation accelerate financial inclusion. Economic & Political Weekly, 53(45), 17-20.
Jajodia, N., & Krishnaswamy, A. (2017). A Cashless Society, Cyber Security and the Aam Aadmi. Economic and Political Weekly, 35-38.
Shree, S. (2023). India’s fintech industry and the G20 summit. Economic and Political Weekly, 58(2). https://www.epw.in/journal/2023/2/letters/indias-fintech-industry%C2%A0and-g20-summit.html
Singh, S. K., Singh, S. S., & Singh, V. L. (2022). The adoption of Unified Payments Interface in India. Economic and Political Weekly, 57 (48). https://www.epw.in/journal/2022/48/commentary/adoption-unified-payments-interface-india.html

Role of India in Multipolar Global Political Economy

Daily writing prompt

What are your thoughts on the concept of living a very long life?

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By Shashikant Nishant Sharma

India’s role in the multipolar global political economy is significant due to its economic and geopolitical importance. India is the world’s sixth-largest economy and has been experiencing steady economic growth in recent years. The country’s strategic location between East and West, coupled with its large population, make it an important player in the international arena.

India’s economic policies and reforms have contributed to its rise as a major economic power. The country has implemented policies to attract foreign investment and has opened up various sectors for private participation. The government has also focused on improving infrastructure, developing a skilled workforce, and promoting entrepreneurship. In addition to its economic importance, India also plays a significant role in global politics. The country is a member of various international organizations, including the United Nations, World Trade Organization, and BRICS. India’s leadership has been instrumental in shaping the agenda of these organizations and in promoting the interests of developing countries. India’s strategic location also makes it an important player in regional geopolitics. The country has been involved in various peacekeeping missions, and its military capabilities have been growing in recent years. India has also been strengthening its relationships with other major powers, including the United States, Russia, and China. Overall, India’s role in the multipolar global political economy is likely to continue to grow in the coming years. The country’s economic and geopolitical importance, coupled with its strategic location, make it a key player in the international arena. Global trade is an essential aspect of the modern economy, and it relies heavily on trust and confidence between parties involved. A breach of confidence can have severe consequences for international trade and the global economy as a whole.

A breach of confidence in global trade can take many forms, including the failure to fulfill contractual obligations, misrepresentation of goods or services, or the theft of intellectual property. These breaches can result in legal disputes, loss of revenue, and damage to reputation, which can be costly for businesses and countries involved. When a breach of confidence occurs, it can lead to a breakdown in trust between parties involved, making it more challenging to engage in future trade deals. This can lead to increased transaction costs, reduced investment, and lower economic growth, ultimately impacting consumers. The World Trade Organization (WTO) and other international bodies play a crucial role in promoting fair trade practices and resolving disputes between countries. However, their effectiveness is limited when it comes to enforcing trade agreements and preventing breaches of confidence.

Dollar hegemony refers to the dominant position of the US dollar in the global economy as the primary reserve currency and medium of exchange. The term is used to describe the extensive use of the US dollar in international trade, finance, and investment, giving the United States significant economic and political power.

The dollar’s dominance dates back to the Bretton Woods agreement of 1944, where the US dollar was established as the international reserve currency, and other countries pegged their currencies to the dollar. This allowed the US to enjoy significant economic and political power and played a crucial role in the post-World War II economic order. Today, the dollar remains the dominant currency in international trade and finance, with over 60% of global foreign exchange reserves held in US dollars. Many countries continue to use the dollar as a medium of exchange, and international commodity prices are usually quoted in dollars. The dollar’s dominance has several implications for the global economy. First, it provides the United States with a unique advantage in international trade, as other countries are dependent on the US dollar to conduct transactions. Second, it allows the US to borrow at lower interest rates, as investors have a high level of confidence in the US dollar and the US economy. However, the dollar’s hegemony also comes with some challenges. The US’s monetary policy decisions can have significant impacts on the global economy, as changes in interest rates and other monetary policies can affect other countries’ economies. Additionally, the US’s high level of debt has raised concerns about the dollar’s stability as a reserve currency. In recent years, there have been calls for the diversification of international reserve currencies and the establishment of alternative payment systems. Some countries, including China and Russia, have been promoting the use of their currencies in international trade and finance to reduce their dependence on the US dollar.

Overall, dollar hegemony continues to shape the global economy, and it is an essential factor in international trade and finance. The ongoing debates around its stability and the need for diversification demonstrate the complex and ever-changing nature of the global economic order.

India plays a significant role in the multipolar global political economy due to its economic and geopolitical importance. The country’s economic policies and reforms have contributed to its rise as a major economic power, and its strategic location makes it a key player in regional geopolitics. India’s leadership has been instrumental in shaping the agenda of international organizations and promoting the interests of developing countries.

However, India also faces several challenges, including poverty, inequality, and infrastructure gaps. The country has been working towards addressing these challenges through various initiatives such as the Make in India campaign, Digital India, and Swachh Bharat Abhiyan. India’s role in the global economy and its rise as a major economic power can provide opportunities for businesses and investors to tap into its large market and skilled workforce. The country’s focus on innovation and entrepreneurship can also create opportunities for collaboration and partnership in various sectors.

In conclusion, India’s position in the multipolar global political economy is significant, and its continued growth and development will have far-reaching implications for the global economy. However, the country faces several challenges that need to be addressed, and there is a need for continued investment and collaboration to unlock its full potential.

References

Bastos, M. (2014). The Indian Ocean and the rise of a multi-polar world order: The role of China and India. Policy Perspectives: The Journal of the Institute of Policy Studies, 11(2), 17-28.

Chakraborty, S. (2018). Significance of BRICS: Regional powers, global governance, and the roadmap for multipolar world. Emerging Economy Studies, 4(2), 182-191.

Cooper, A. F., & Flemes, D. (2013). Foreign policy strategies of emerging powers in a multipolar world: An introductory review. Third World Quarterly, 34(6), 943-962.

Kukreja, V. (2020). India in the emergent multipolar world order: Dynamics and strategic challenges. India Quarterly, 76(1), 8-23.

Peters, M. A. (2023). The emerging multipolar world order: A preliminary analysis. Educational Philosophy and Theory, 55(14), 1653-1663.

Sharma, S. N. (2017). Geopolitics and Terrorism in Asia-Pacific Region vis-a-vis India.

What is Street Index

Daily writing prompt

Is your life today what you pictured a year ago?

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The term “street index” can refer to different concepts depending on the context in which it’s used. Below are some of the most common meanings:

In Urban Planning or Mapping: A street index is a reference list or map that organizes the streets within a particular area. This index allows people to easily locate streets based on their names, numbers, or grid system. It might be included in city maps, directories, or GPS applications, providing a comprehensive list of streets and their locations.
In Finance or Economics: A street index can sometimes refer to a benchmark or index that tracks the performance of a specific set of stocks or financial instruments, similar to the way the Dow Jones Industrial Average or S&P 500 tracks stock market performance. In this sense, “street” could be a shorthand reference to Wall Street or financial markets in general.
In Real Estate: A street index might be used to track property values, trends, or transactions specific to various streets within a city or region. This could be used by real estate professionals or analysts to measure the relative value of properties in certain areas.
In Postal Systems or Directories: A street index might be used in postal codes or address directories, helping individuals or delivery services quickly find specific streets based on postal codes or other identifiers.

If you meant a different concept by “street index,” please clarify, and I’d be happy to provide more specific information.

From Uncertainty to Security

How PMAY-G Transformed Nondo’s Life!

In the small village of ‘Rotlang W’ in Mizoram,’ Nondo’s family faced a constant battle for survival. As a daily wage laborer, Nondo worked tirelessly to feed his wife and five children. Yet, no amount of effort could change the harsh reality of their living conditions. Their dilapidated kutcha house, with its leaky roof and crumbling walls, offered little protection against the elements.

During the monsoons, water seeped through the roof, soaking their clothes and bedding. Winters were unbearably cold, with biting winds finding their way through the fragile structure. The family’s health and peace of mind suffered with every cold night made us worry if our house would hold up.

Relief came in 2017 when Nondo’s name appeared on the beneficiary list of the Pradhan Mantri Awaas Yojana – Grameen (PMAY-G). The scheme, designed to provide pucca houses for vulnerable rural families, offered Nondo the opportunity to build a secure home. With financial assistance and support from local officials, construction of his house began.

Lunglei District, Mizoram

By the end of the year, the family moved into their new home. It was a simple and sturdy structure, built to withstand harsh weather and provide a safe haven for the family. The new house brought a profound sense of security to Nondo’s family. No longer did they worry about rainwater flooding their home or chilly winds making their children sick. Their pucca house stood firm against the elements, offering warmth and stability. The newfound security also gave Nondo a sense of pride and belonging. For the first time, his family could welcome guests into their home without embarrassment or fear of judgment.

Nondo’s story is a testament to the transformative power of PMAY-G, launched in 2016 by the Government of India to fulfil the vision of “Housing for All.” The scheme focuses on providing pucca houses with essential amenities to rural families living in kutcha houses or without a home. The key features of PMAY-G include providing financial assistance for constructing houses with a minimum size of 25 square meters. The scheme prioritizes vulnerable groups such as houseless families, households without literate adults, and those reliant on casual labour for income. Special emphasis is placed on supporting marginalized communities, including Scheduled Castes, Scheduled Tribes, and other disadvantaged sections of society.

Through such targeted measures, the program ensures that the most deserving households, like Nondo’s, benefit first.

Today, Nondo and his family live with peace of mind, no longer burdened by the fear of homelessness or the harshness of nature. Their pucca house is more than a shelter; it is a symbol of hope, resilience, and progress.

References

https://pmayg.nic.in/netiay/PBIDashboard/PMAYGDashboard.aspx

https://rd.mizoram.gov.in/page/pmay-g

Click to access doc20241119437801.pdf

PMAY Success stories

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Financial and Passport Related Services by Post Offices

The details of the financial and passport related services primarily being provided by the post offices to the customers are attached herewith.

Scheme	Features
Post Office Passport Seva Kendras (POPSK)	Currently, providing the passport services at 442 Post Offices Passport Seva Kendras
Post Office SavingsAccount (POSA)	For regular savings, withdrawals etc.Min. balance – ₹ 500/- and ₹ zero in case of Basic Savings AccountATM / Internet & Mobile Banking Facility / NEFT & RTGSPost office Savings Accounts with India Post Payment Bank account linkage for UPI, IMPS etc.
Recurring Deposit (RD)	Min. instalment (per month): ₹ 100/- and thereafter any amount in the multiple of ₹ 10/-Max. instalment: No limitTerm: 5 Years and extendable for another 5 years
Time Deposit (TD)1/2/3/5 Year(s)	Min. Deposit (Single): ₹ 1000 /- or in the multiple of ₹ 100/-Max. Deposit: No limitIncome Tax exemption for investment in 5 Year TDExtension – Twice after completion of term
MonthlyIncome Scheme (MIS)	For source of monthly incomeMin. Deposit: ₹ 1,000/- or in its multipleMax. Deposit: ₹ 9.0 lakh /- (individual); ₹ 15 lakh (in Joint)Term – 5 Years
Senior Citizens Savings Schemes (SCSS)	Special scheme for Senior CitizensFor source of quarterly incomeMin. Single Deposit: Rs. 1,000/- or in its multipleMax. Deposit: Rs. 30,00,000/-Term – 5 Year and extendable after the expiry of each block period of three years
Public Provident Fund (PPF)	Min. Initial Deposit: ₹ 500/-Max. Deposit: ₹ 1,50,000/- in a Financial YearMin. Subsequent deposit in the multiple of ₹ 50/-Income Tax exemption for investmentTax free InterestTerm – 15 Years and extendable further
Sukanya Samriddhi Yojana Account (SSA)	Special Scheme for girl childrenMin. Initial Deposit: ₹ 250/-Max. Deposit: ₹ 1,50,000/- in a Financial YearMin. Subsequent deposit in the multiple of ₹ 50/-Income Tax exemption for investmentTax free InterestTerm – 21 Years
NationalSavings Certificate – VIII Issue (NSC)	Minimum investment – ₹ 1,000/-Maximum investment: No limit – In multiples of ₹ 100/-Income Tax exemption for investmentTerm – 5 years
Kisan Vikas Patra (KVP)	Minimum investment – ₹ 1,000/-Maximum investment: No limit – In multiples of ₹ 100/-Maturity – Double the amount of investment
Mahila Samman Savings Certificate (MSSC)	Special Scheme for Women and girl childrenInvestment is allowed from 01.04.2023 to 31.03.2025Minimum investment – ₹ 1,000/-Maximum investment: ₹ 2 Lakh per individual – In multiples of ₹ 100/-3 months-time-gap between the opening of accountsTerm – Two yearsLockup period – 6 months
PM Cares for Children Scheme 2021	Special scheme for the beneficiaries identified by Ministry of Women and Child DevelopmentInitially, 4515 accounts were opened and fundedInvestment differs based on the age of child and maturity amount is ₹10 LakhMIS Interest is payable on 10 Lakh from the age of 18 to 23Maturity at the age of 23 of the account holders.
India Post Payment Bank (IPPB)	Savings and current accounts Virtual Debit Card Domestic Money Transfer services Bill and utility payments Insurance services for IPPB customers

“Payroll Reporting in India: An Employment Perspective –September, 2024”

Ministry of Statistics & Programme Implementation is releasing the employment related statistics in the formal sector covering the period September 2017 onwards, using information on the number of subscribers who have subscribed under three major schemes, namely the Employees’ Provident Fund (EPF) Scheme, the Employees’ State Insurance (ESI) Scheme and the National Pension Scheme (NPS).

The full report can be accessed at: Payroll Reporting in India An Employment Perspective –September, 2024.pdf

1.Employees’ Provident Funds Scheme:

The total number of new EPF subscribers during the month of September, 2024 is9,47,068, which was 9,78,275during the month of August, 2024. The highest number of EPF subscribers 1,117,481 were added during July, 2024.

2.Employees’ State Insurance Scheme:

The newly registered employees and paying contribution under the ESI scheme during the month of September,2024 is 15,02,964which was 15,25,086 during the month of August, 2024.

3.National Pension Scheme (NPS):

During September 2024, the NPS recorded a total of 58,018new contributing subscribers which was54,869 duringthe month of August, 2024.

*****

INCREASING TREND OF EMPLOYMENT IN INDIA

The official data source on Employment and Unemployment is Periodic Labour Force Survey (PLFS) which is conducted by the Ministry of Statistics and Programme Implementation (MoSPI) since 2017-18. The survey period is July to June every year. As per the latest available Annual PLFS reports, the estimated Worker Population Ratio (WPR) and Unemployment Rate (UR) on usual status for persons of age 15 years and above in the country is as follows:

Year	WPR (in %)	UR (in %)
2017-18	46.8	6.0
2018-19	47.3	5.8
2019-20	50.9	4.8
2020-21	52.6	4.2
2021-22	52.9	4.1
2022-23	56.0	3.2
2023-24	58.2	3.2

Source: PLFS, MoSPI

The above data indicates that the WPR i.e. employment has increasing trend and Unemployment Rate has a decreasing trend over the years.

The KLEMS (K: Capital, L: Labour, E: Energy, M: Materials and S: Services) database published by Reserve Bank of India’s (RBI) provides employment estimates at all India level. As per the latest data of the database, provisional estimates for 2023-24, employment in the country increased to 64.33 crore in year 2023-24 compared to 47.15 crore in 2014-15. Total increase in employment during 2014-15 to 2023-24 is about 17 crore.

To provide various employment related services to the youth of the country on a single platform, Government of India has launched National Career Service (NCS) portal (www.ncs.gov.in) which includes services like job search & matching, career counselling, vocational guidance, information on skill development courses, internships etc through the portal. During the year 2024-25 (as on 15.11.2024), 1.12 crore vacancies were posted on NCS portal and more than 3.53 Crore number of vacancies mobilized on the portal since its launch in 2015.

Further, Government of India has also launched MY Bharat platform which provides myriad opportunities for youth engagement through various organizations onboarded on the portal with a view to involve them in meaningful activities. The MY Bharat portal is envisioned as a pivotal, technology-driven facilitator for youth development and youth-led development, with the overarching goal of providing equitable opportunities to empower the youth in realizing their aspirations.

Employment generation coupled with improving employability is the priority of the Government. Accordingly, the Government of India has taken various steps for generating employment in the country.

The various Ministries/ Departments of Government of India like Ministry of Micro, Small and Medium Enterprises, Ministry of Rural Development, Ministry of Housing and Urban Affairs, Ministry of Finance, Ministry of Textiles, Ministry of Electronics and Information Technology, etc. are implementing different employment generation schemes/ programmes like Prime Minister’s Employment Generation Programme (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), Rural Self Employment and Training Institutes (RSETIs), Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM), Pradhan Mantri Mudra Yojana (PMMY), etc. including increase in capital expenditure to boost employment creation. The details of various employment generation schemes/programmes being implemented by the Government of India may be seen at https://dge.gov.in/dge/schemes_programmes.

Further, Government announced in the Budget 2024-25, the Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a 5-year period with a central outlay of Rs. 2 lakh crore.

Labour Force Indicators Providing Evidence of Improved Employment Scenario in India

India Employment Report, 2024 of Institute for Human Development (IHD) – International Labour Organisation (ILO) mentioned that in ILO’s Global Report Trends for Youth, 2022, the worldwide youth unemployment rate was 15.6 per cent in 2021. Further, as per World Employment and Social Outlook Trends, 2024 by ILO, globally, in 2023, the youth unemployment rate was 13.3 per cent.

The official data source of Employment/ Unemployment indicator in India at present is the Periodic Labour Force Survey (PLFS) conducted by the Ministry of Statistics and Programme Implementation (MoSPI) since 2017-18. The survey period is July to June of the next year. As per the latest available Annual PLFS reports, the estimated Unemployment Rate (UR) on usual status for youth of age 15-29 years in the country in the year 2023-24 was 10.2% which is lower than global levels. Further, the Worker Population Ratio (WPR) for youth indicating employment has increased from 31.4% in 2017-18 to 41.7% in 2023-24.

Employees’ Provident Fund Organization (EPFO) Payroll Data gives an idea of the level of employment in the formal sector. More than 1.3 crore net subscribers joined EPFO during 2023-24. Moreover, during September 2017 to August, 2024, more than 7.03 crore net subscribers have joined EPFO, indicating increase in formalisation of employment.

All the labour force indicators are providing evidence of improved employment scenario in the country.

Employment generation coupled with improving employability is the priority of the Government. Accordingly, the Government of India has taken various steps for generating employment in the country.

The various Ministries/ Departments of Government of India like Ministry of Micro, Small and Medium Enterprises, Ministry of Rural Development, Ministry of Housing and Urban Affairs, Ministry of Finance, Ministry of Textile, etc. are implementing different employment generation schemes/ programmes like Prime Minister’s Employment Generation Programme (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), Rural Self Employment and Training Institutes (RSETIs), Deen Dayal Antodaya Yojana-National Urban Livelihoods Mission (DAY-NULM), Pradhan Mantri Mudra Yojana (PMMY), etc. The details of various employment generation schemes/ programmes being implemented by the Government of India may be seen at https://dge.gov.in/dge/schemes_programmes.

CREDAI to formalise its 14,000 members, says social security of labour crucial to real estate growth

Daily writing prompt

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The real estate sector should look at a greater formalisation that will help the industry grow faster. This was stated by Union Minister of Commerce & Industry, Shri Piyush Goyal during his keynote address at the 25th Foundation Day of CREDAI (Confederation of Real Estate Developers’ Associations of India) in New Delhi today. He further urged the industry to engage the labour in formal employment, giving them the social security benefits of insurance (ESIC) and provident fund (EPFO). This will help in the number of employees getting reflected in annual reports and in national statistics. If social security, healthcare and post-retirement benefits are provided then the employees will align with the industry’s goals of enhancing their quality of work leading to better productivity and greater profits, he said.

Commerce and Industry Minister also appealed to CREDAI to expedite formalisation of its 14,000 members. If everyone who works for CREDAI will receive salary through digital payment and if it is ensured that employees working in the ecosystem is a part of the national effort to meet the needs of the people, CREDAI’s contribution to employment will get recognised and rewarded, he said.

In his address, Shri Goyal raised the issue of environment pollution and urged CREDAI to consider setting up a team to study ways to adopt better construction techniques in the metropolitan cities of India. He further suggested the industry body to take this up as a mission and report to the Government steps being taken in this direction. Adopting steel and precast fabrication will speed up construction benefitting the entire ecosystem. This can help in reducing AQI and pollution levels, he said.

Shri Goyal lauded CREDAI for its contribution to making India a powerhouse and also in its journey towards Viksit Bharat and added that the industry has not only worked with brick and mortar to collectively prepare the nation for the future but has worked to provide opportunities and aspirations to the nation. Real estate contributes to the economy and jobs, he said.

Emphasising the difficulty citizens faced earlier in owning homes, Shri Goyal pointed out that a concerted effort has been undertaken in the last ten years to clean up processes, promote Ease of Doing Business and encourage businesses to expand. He also noted that bringing The Real Estate (Regulation and Development) Act (RERA) into effect in 2017 was a challenge, however, the regulations have enabled citizens to acquire homes without dispute. The Minister further highlighted CREDAI’s commitment to rectify the processes and pointed out that provisions like Goods and Services Tax (GST), RERA Act and efforts to eliminate irregular transactions have resulted in an organised growth of the real estate sector.

Hailing Prime Minister Shri Narendra Modi’s efforts to clean up the banking system, Shri Goyal noted that non-performing assets (NPAs) have decreased significantly and banks have strong credit portfolios with strong balance sheets, maintaining healthy profit each year. It shows how important the banking sector is for the real estate sector and for the economy to gain momentum in meeting the aspirations of the nation. As income levels rise, more people will take possession of their homes as they will be able to afford cheaper loans at lower interest rates, he said.

Shri Goyal also spoke about affordable rental housing and announced that the Government would be engaging in discussions with the industry body to find ways to provide affordable rental to the citizens, besides working on the rehabilitations programme for slum dwellers. He said that affordable rental housing if made available would be able to stop the proliferation of slums in cities. Shri Goyal pointed out that aspects like parking lots and spaces for entertainment families should be looked into when planning layouts. He added that we need to recycle construction waste so that we move towards a circular economy as to be a net zero nation we have to begin from net zero localities and societies.

Encouraging the industry leaders and participants to look for real estate opportunities abroad, Shri Goyal said that expanding the real estate footprint outside India will add to India’s exports and infrastructure services. He also urged the industry to expand its sector and the 250+ associate industries to make real estate a $1 trillion contributor to the nation.

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PM-Vidyalaxmi scheme to provide financial support to meritorious students so that financial constraints

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved PM Vidyalaxmi, a new Central Sector scheme that seeks to provide financial support to meritorious students so that financial constraints do not prevent anyone from pursuing higher studies. PM Vidyalaxmi is another key initiative stemming out of the National Education Policy, 2020, which had recommended that financial assistance should be made available to meritorious students through various measures in both public and private HEIs. Under the PM Vidyalaxmi scheme, any student who gets admission in quality Higher Education Institution (QHEIs) will be eligible to get collateral free, guarantor free loan from banks and financial institutions to cover full amount of tuition fees and other expenses related to the course. The scheme will be administered through a simple, transparent and student-friendly system that will be inter-operable and entirely digital.

The scheme will be applicable to the top quality higher educational institutions of the nation, as determined by the NIRF rankings – including all HEIs, government and private, that are ranked within the top 100 in NIRF in overall, category-specific and domain specific rankings; state government HEIs ranked in 101-200 in NIRF and all central government governed institutions. This list will be updated every year using the latest NIRF ranking, and to begin starts with 860 qualifying QHEIs, covering more than 22 lakh students to be able to potentially avail benefits of PM-Vidyalaxmi; if they so desire.

For loan amount up to ₹ 7.5 lakhs, the student will also be eligible for a credit guarantee of 75% of outstanding default. This will give support to banks in making education loans available to students under the scheme.

In addition to the above, for students having an annual family income of up to ₹ 8 lakhs, and not eligible for benefits under any other government scholarship or interest subvention schemes, 3 percent interest subvention for loan up to ₹ 10 lakhs will also be provided during moratorium period. The interest subvention support will be given to one lakh students every year. Preference will be given to students who are from government institutions and have opted for technical/ professional courses. An outlay of ₹ 3,600 Crore has been made during 2024-25 to 2030-31, and 7 lakh fresh students are expected to get the benefit of this interest subvention during the period.

The Department of Higher Education will have a unified portal “PM-Vidyalaxmi” on which students will be able to apply for the education loan as well as interest subvention, through a simplified application process to be used by all banks. Payment of interest subvention will be made through E-voucher and Central Bank Digital Currency (CBDC) wallets.

PM Vidyalaxmi will build on and further enhance the scope and reach of the range of initiatives undertaken by the Government of India over the past decade in the domains of education and financial inclusion, for maximizing access to quality higher education for the youth of India. This will supplement the Central Sector Interest Subsidy (CSIS) and Credit Guarantee Fund Scheme for Education Loans (CGFSEL), the two component schemes of PM-USP, being implemented by the Department of Higher Education. Under the PM-USP CSIS, students with annual family income up to ₹ 4.5 lakhs and pursuing technical/ professional courses from approved institutions get full interest subvention during moratorium period for education loans up to ₹ 10 lakhs. Thus, PM Vidyalaxmi and PM-USP will together provide holistic support to all deserving students to pursue higher education in quality HEIs and technical/ professional education in approved HEIs.

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