UPSC Aspirant 2025-26

Summary!!! 👉 (Imp*) Spurred by a lack of financial inclusion, a public banking movement is rapidly gaining traction in the United States, a bastion of free markets. In contrast, India, a prime example of state intervention and government-owned-bank dominance, seems to be quickly warming to the idea of bank privatisation. 👉 (Imp*) Government-owned banks can improve welfare by allocating scarce capital to socially productive uses. By contrast, the political view argues that vested interests can commandeer the lending apparatus to achieve political goals. Political or special interest capture can distort credit allocation and reduce allocative efficiency in government-owned banking systems. 👉 Public sector Banks (PSBs) dominate Indian banking, controlling over 60 per cent of banking assets. 👉 Banks provide two functions at a fundamental level: Payments and deposit-taking on the liability side and credit creation on the asset side. 👉 PSBs in India are better at providing the public good functions, whereas private banks seem better suited for credit allocation. 👉 When the wedge between social and private benefits is large, as with financial inclusion, there is a strong case for public banks. https://indianexpress.com/article/opinion/columns/privatise-public-sector-banks-banking-sector-rbi-nirmala-sitharaman-7219966/lite/

Happy Shivaratri to all of you

Summary!!!!! 👉 “Political will” is more important than the political economy to decide the expenditure on education. 👉 Education with all its idealist moorings, when it comes to its institutionalisation, is shaped by the political economy of the state. 👉 Nobel Laureate Amartya Sen has written extensively on the “Kerala Model” of education and attributes Kerala’s economic and social success to the consistency with which school education expanded, based on sustained public policies and action. 👉 The kind of commitment or collective will shown for the provisions of electricity, water and roads needs to be developed for education as well. https://indianexpress.com/article/opinion/a-kerala-model-for-universal-education-7220535/lite/

Try to use following concepts/ideas/terms in your answers: ○ "Women in development" to "Women led development" ○ Decolonisation of ideas ○ Learning Outcomes ○ Climate Refugees ○ Debt Sustainability ○ Future slowdown in Demographic Dividend ○ Digital Infrastructure ○ Bottom-up Initiatives ○ Diversification in Agriculture ○ Collective Action ○ Census Towns and Urbanisation ○ Multiplier Effect ○ Rural Economy ○ Abundance of Labour : Comparative advantage of India ○ Agro-processing : increases shelf life ○ Farmgate Price v. Consumer Price ○ Distributive Social Justice ○ Progressive v. Regressive step ○ Vaccine and Distributive Justice

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