PYQ Bank — Bank PO / Clerk

Uttar Pradesh launched the Mukhyamantri Vishwakarma Scheme in 2024 as an extension of the PM Vishwakarma scheme to support traditional craftspeople with loans up to ₹2 lakh and skill certification.

This scheme is specifically designed to empower artisans in sectors like carpentry, blacksmithing, and pottery.

The scheme aims to increase their income and provide market linkages for their products.

This reflects the state government's commitment to preserving traditional crafts while providing economic support.

According to the World Bank and IMF data cited in 2024, India ranks as the 5th largest economy globally in nominal GDP terms, after the USA, China, Germany, and Japan.

However, in terms of purchasing power parity (PPP), India ranks as the 3rd largest economy.

The distinction between nominal GDP and PPP is crucial for understanding India's true economic standing relative to developed nations.

India has been consistently growing its share in global GDP and is expected to move higher in rankings in coming years.

The World Intellectual Property Organization (WIPO) releases the Global Innovation Index (GII) annually, and in the 2024 edition, India ranked 37th among nations.

This index assesses innovation performance based on criteria like intellectual property creation, research and development, human capital, and infrastructure.

India's ranking at 37th represents its consistent improvement in innovation metrics over recent years, making it the highest-ranking South Asian country.

This ranking reflects India's growing ecosystem for startups, research institutions, and technological innovation in sectors like IT, pharmaceuticals, and biotechnology.

The repo rate is a key instrument of monetary policy used by the RBI to balance inflation control with economic growth objectives.

By maintaining a higher rate, the RBI aims to keep inflation within its target band while ensuring that economic growth is not severely hampered.

This dual mandate reflects the central bank's responsibility to maintain price stability and support sustainable economic development.

The QUAD (Quadrilateral Security Dialogue) comprising India, US, Japan, and Australia represents India's strategic approach of multi-aligned partnerships rather than exclusive bloc formation.

This approach allows India to maintain strategic autonomy while cooperating with like-minded democracies to ensure a free, open, and rules-based Indo-Pacific order.

It balances India's traditional non-aligned stance with pragmatic security cooperation.