Target Dreams

 Why it is in news ? Recently, NITI Aayog released report titled, National Multi Dimensional Poverty Index : Progress Review 2023", Which claims that significant number of population in India has overcome Multidimensional Poverty. Source : PIB NITI Aayog Report      The report titled "National Multidimensional Poverty Index: A Progress Review 2023" is the second edition of the MPI, and it has been prepared using data from the latest National Family Health Survey-5 (2019-21).      The MPI helps to identify and track improvements in the living conditions of the population and assess the effectiveness of poverty alleviation policies in India. According to the report, a significant number of people have experienced improvements in their multi-dimensional poverty status, indicating progress in the country's efforts to combat poverty across various dimensions. What is the National Multidimensional Poverty Index ? The National Multidimensional Poverty Index (MPI) is a tool

   The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) stands as a pivotal regional multilateral organisation, fostering collaboration and development among its member nations. With a geographical span that includes the Bay of Bengal's littoral and adjacent regions, BIMSTEC unifies seven South Asian and Southeast Asian countries, Bangladesh Bhutan India Nepal Sri Lanka Myanmar, and Thailand.      This unique regional unity connects the diverse ecologies of the Great Himalayas and the Bay of Bengal, creating a platform for collective progress and prosperity. BIMSTEC's core objectives encompass the facilitation of rapid economic growth, the acceleration of social progress, and the promotion of cooperation on matters of mutual interest.      With a combined population of 1.73 billion people and a substantial gross domestic product of US$4.4 trillion, BIMSTEC has emerged as a prominent force in South Asia, gaining prominence and recognitio

What is Monetary Policy ?         Monetary policy, managed by a country's central bank, plays a crucial role in shaping a nation's economic landscape. It involves the strategic management of money supply and interest rates, influencing critical variables such as inflation, consumption, savings, investment, and capital formation. In India, the Reserve Bank of India (RBI) holds the responsibility for formulating and executing monetary policy, employing a range of tools like interest rate adjustments and bank reserve requirement modifications to achieve specific economic objectives and foster desired outcomes. Objectives of Monetary Policy : Control inflation within tolerable range, and ensure that purchasing power of the currency remains stable, creating conducive environment for consumers and business. promote economic growth and development in a country by fostering an environment that encourages investment and consumption. Contribute to employment generation and manage flu

               The United Nations Convention on the Law of the Sea (UNCLOS) of 1982, commonly referred to as the 'Law of the Sea,' is a pivotal international treaty signed in 1982 and formally adopted in 1994. This landmark agreement establishes the essential legal framework governing marine and maritime operations worldwide. Serving as the sole international accord addressing state authority in maritime regions, UNCLOS designates specific maritime zones, each with distinct legal status. Acting as the bedrock of maritime navigation, it governs the rights and responsibilities of both sea travellers and coastal states in offshore territories. India is the state party to UNCLOS. Maritime zones Under UNCLOS : Maritime Zones under UNCLOS 1. Baseline/Internal Waters: The base line is first drawn by joining the seaward limits. All the waters within the baseline and coasts are referred as internal waters. Internal waters is as good as land of the coastal state. All laws which can be en