Daily Current Affairs 02 June 2026 – IAS Current Affairs

Current Affairs 02 June 2026 focuses on the Prelims-Mains perspective. Major events are :


Statistics Day 2026: Key Highlights, P.C. Mahalanobis And Administrative Data

Source: PIB 
GS II: Government Policies and Interventions, E-Governance


Overview

  1. News in Brief
  2. Key Highlights
  3. P.C. Mahalanobis (1893–1972)
  4. Significance of Administrative Data

Why in the News?

The Ministry of Statistics and Programme Implementation celebrated the 20th Statistics Day on 29 June 2026 to commemorate the 133rd birth anniversary of Prasanta Chandra Mahalanobis.

News in Brief

  • Statistics Day is observed annually to honour P.C. Mahalanobis, the architect of India’s modern statistical system.
  • The theme for 2026 was “Unlocking the Potential of Administrative Data”, focusing on using government-generated data for evidence-based policymaking.
  • MoSPI highlighted data harmonisation, interoperability, AI-enabled analytics, and privacy safeguards to strengthen India’s statistical ecosystem.

What is Administrative Data?

  • Administrative data refers to information collected by government departments during routine administration rather than through surveys.
  • Examples
    • Birth & death registration
    • GST and Income Tax records
    • School enrolment databases
    • Health records
    • Land records
    • Social welfare databases
Key Highlights

Data-Driven Governance

  • Government-generated data should be treated as a strategic national resource rather than a departmental by-product.
  • Administrative data enables informed decision-making, better policy formulation, and efficient implementation.
  • Supports continuous tracking and evaluation of government schemes and development programmes.
  • Helps in targeted welfare delivery, reducing leakages and enhancing governance efficiency.
  • Requires greater coordination and data sharing among the Union Government, States, and Union Territories.
  • Facilitates continuous measurement and monitoring of India’s vision Viksit Bharat 2047.

Data Harmonisation

  • Metadata standards to ensure uniform documentation of datasets.
  • Data quality assessment to improve accuracy and reliability.
  • Uniform classifications for consistency across databases.
  • Unique identifiers to facilitate integration of datasets.
  • Common definitions to eliminate inconsistencies between departments.
  • This will make government data interoperable and more useful for policymaking.

AI and Digital Technologies

  • The government stressed that AI systems used in governance must adhere to the following principles:
    • Auditability – AI decisions should be verifiable.
    • Explainability – AI outcomes should be transparent and understandable.
    • Data Provenance – The source and history of data must be traceable.
    • Accountability – Institutions must remain responsible for AI-driven decisions.
  • These safeguards will ensure trustworthy and responsible use of AI in governance.

Privacy, Trust and Statistical Integrity

  • While promoting greater use of administrative data, the government emphasized the need to:
    • Protect data privacy of individuals.
    • Maintain public trust in official statistics.
    • Preserve the institutional independence of the statistical system.
    • Develop secure data-sharing mechanisms to prevent misuse of sensitive information.
  • Balancing innovation with privacy and credibility is essential for effective data governance.

Best Practices 

  • Social Security Data Pooling
    • Integrating labour and welfare databases to improve delivery of social security benefits.
  • AgriStack
    •  A digital platform that integrates farmer, land, and agricultural data to support precision farming and better policy implementation.
  • Uttar Pradesh Family ID
    • A unified family database that enables targeted and proactive delivery of government welfare schemes.
  • MahaVISTAAR (Maharashtra)
    • An AI-enabled platform that provides climate-resilient agricultural advisories and real-time information to farmers.
  • These initiatives demonstrate how integrated administrative data can improve governance, welfare delivery, and citizen services.
P.C. Mahalanobis (1893–1972)

Father of India’s Modern Statistical System

  • Mahalanobis is regarded as the architect of India’s official statistical system because he:
    • Introduced scientific statistical methods into governance.
    • Developed nationwide systems for collecting reliable socio-economic data.
    • Promoted evidence-based policymaking.
    • Helped establish a robust framework for national sample surveys.
  • His work laid the foundation for today’s National Statistical Office (NSO) and Ministry of Statistics and Programme Implementation (MoSPI).

Pioneer of Large-Scale Sample Surveys

  • Before Mahalanobis, governments mainly relied on complete censuses, which were expensive and time-consuming.
  • He demonstrated that scientifically designed sample surveys could produce reliable results quickly and at a lower cost.
  • Developed techniques for pilot surveys, random sampling, and crop estimation.
  • His methods continue to be used in surveys related to employment, health, agriculture, poverty, and household consumption.

National Sample Survey (NSS)

  • Mahalanobis was instrumental in establishing the National Sample Survey (NSS) in 1950.
  • The NSS conducts nationwide surveys on:
    • Employment and unemployment
    • Consumer expenditure
    • Health
    • Education
    • Agriculture
    • Social indicators
  • Today, these surveys are conducted by the NSO.

Role in India’s Economic Planning

  • Prasanta Chandra Mahalanobis played a key role in drafting India’s Second Five-Year Plan (1956–61).
  • He proposed the Mahalanobis Model, which became the foundation of India’s early development strategy.

Mahalanobis Model

  • Primarily focused on rapid industrialization.
  • Gave priority to heavy and capital goods industries such as steel, machinery, and engineering.
  • Emphasized higher investment in productive capacity for long-term growth.
  • Aimed to achieve self-reliance and reduce dependence on imports.
  • Significance
    • Accelerated the growth of public sector enterprises (PSUs).
    • Strengthened India’s industrial base and infrastructure.
    • Laid the foundation for planned economic development in the post-Independence period.
    • Contributed to India’s long-term goal of economic self-sufficiency.
Significance of Administrative Data

  • Promotes evidence-based policymaking using reliable government data.
  • Reduces duplication in data collection and improves efficiency.
  • Enables real-time governance and better public service delivery.
  • Strengthens SDG monitoring and performance evaluation.
  • Supports Digital India and Viksit Bharat 2047 through data-driven governance.

Challenges

  • Ensuring data privacy and protection of personal information.
  • Addressing cybersecurity threats and data breaches.
  • Lack of interoperability among government databases.
  • Variations in data quality and standards across departments.
  • Maintaining the independence and credibility of official statistics.

Way Forward

  • Adopt common national data standards for all government datasets.
  • Strengthen data privacy and cybersecurity frameworks.
  • Enhance Centre–State coordination for seamless data sharing.
  • Promote responsible AI with transparency and accountability.
  • Build institutional capacity for high-quality statistical governance and data management.
UPSC Prelims and Mains Practice Question

Q) With reference to the role of P.C. Mahalanobis in India’s economic planning, consider the following statements:

  1. He played a key role in formulating the Second Five-Year Plan (1956–61).
  2. The Mahalanobis Model emphasized the development of heavy and capital goods industries.
  3. The model primarily focused on expanding agriculture and consumer goods industries.
  4. One of the objectives of the Mahalanobis Model was to achieve long-term economic self-reliance.

Which of the statements given above are correct?

A. 1, 2 and 4 only
B. 1 and 3 only
C. 2 and 3 only
D. 1, 2, 3 and 4

Answer: A

Explanation: Statement 3: Incorrect. The model did not primarily focus on agriculture or consumer goods; it emphasized industrialization.

Mains Practice Question

Q. Discuss the contributions of Prasanta Chandra Mahalanobis to India’s statistical system and explain how his vision remains relevant for evidence-based governance in the era of administrative data and Artificial Intelligence.


Iran’s Strait Of Hormuz Fee Plan: UNCLOS

Source: Indian Express
GS II: Effect of Policies and Politics of Developed and Developing Countries on India’s interests


Overview

  1. News in Brief
  2.  UNCLOS and Strait of Hormuz
  3. Implications for India

Why in the News?

Iran has proposed levying transit fees on ships passing through the Strait of Hormuz.

News in Brief

  • The proposal follows rising regional tensions involving Iran, Israel, and the United States.
  • The move has triggered debate over whether such charges are consistent with international maritime law under the United Nations Convention on the Law of the Sea (UNCLOS).
  • Since nearly one-fifth of global oil trade passes through the Strait, any restriction could significantly affect global energy security.
UNCLOS and the Strait of Hormuz

Freedom of Navigation

  • The United Nations Convention on the Law of the Sea (UNCLOS), 1982 guarantees:
    • Freedom of navigation.
    • Freedom of overflight.
    • Uninterrupted transit through international straits.
  • Under Article 37 to 44 of the UNCLOS, ships of all nations enjoy the Right of Transit Passage, which generally cannot be suspended by coastal states.

Transit Passage

  • Transit passage refers to:
    • Continuous and expeditious navigation through an international strait.
    • Passage by both merchant and military vessels.
    • Navigation carried out in accordance with international law and for peaceful purposes.
  • Coastal states cannot arbitrarily impede or suspend this right.

Status of the Strait of Hormuz

  • The Strait of Hormuz qualifies as an international strait because:
    • It connects the Persian Gulf with the Gulf of Oman and the Arabian Sea.
    • It links two parts of the high seas/Exclusive Economic Zones (EEZs).
    • It is extensively used for international maritime navigation.
  • Therefore, the UNCLOS regime governing transit passage applies.

Transit Fees Under UNCLOS

  • UNCLOS generally does not permit coastal states to levy fees solely for the passage of ships through an international strait.
  • However, charges may be imposed only for specific services actually provided, such as:
    • Pilotage services.
    • Port facilities.
    • Other navigation-related services.
  • A blanket transit fee merely for exercising the right of transit passage would likely be inconsistent with the provisions and spirit of UNCLOS.

Regulatory Powers of Coastal States

  • Coastal states may enact laws relating to:
    • Safety of navigation.
    • Marine environmental protection and pollution control.
    • Customs regulations.
    • Immigration procedures.
    • Security measures.
  • Such laws, however, must not hamper, suspend, or deny the right of transit passage guaranteed under UNCLOS.

Iran’s Position

  • Iran has signed the United Nations Convention on the Law of the Sea (UNCLOS) but has not ratified it.
  • While it follows several principles of customary international maritime law, it has reservations regarding the transit passage regime.
  • Iran’s domestic maritime laws require prior authorization for certain foreign warships and vessels carrying hazardous materials.

Persistent Objector Doctrine

  • Iran invokes the Persistent Objector Doctrine, which states that:
    • A state that consistently and openly objects to an emerging rule of customary international law during its formation may not be bound by that rule.
    • Iran argues that it has consistently opposed the unrestricted transit passage regime.
  • However, the applicability of this doctrine in the case of the Strait of Hormuz remains legally contested and is not universally accepted.

Corfu Channel Case (1949)

  • The Corfu Channel Case (1949) was the first contentious case decided by the International Court of Justice (ICJ).
  • The Court recognized the right of innocent passage for ships through international straits used for international navigation during peacetime.
  • The judgment laid the foundation for the modern principle of freedom of navigation, which was later reflected in the UNCLOS framework.

Difference between Innocent Passage and Transit Passage

  • Innocent Passage applies to a territorial sea, whereas Transit Passage applies to international straits used for international navigation.
  • During Innocent Passage, the coastal state exercises greater regulatory control; under Transit Passage, the coastal state cannot suspend or deny passage.
  • Innocent Passage must be peaceful and not prejudicial to the coastal state’s security, while Transit Passage requires continuous and expeditious movement through the strait.
Implications for India

Threat to Energy Security

  • India imports more than 80% of its crude oil requirements, with a significant portion sourced from Gulf countries through the Strait of Hormuz.
  • Any disruption could affect the timely supply of crude oil and LNG, posing challenges to India’s energy security.

Inflationary Pressures

  • Higher international crude oil prices would increase the cost of petroleum products in India.
  • This would raise transportation and production costs across sectors, leading to inflation and reducing consumers’ purchasing power.

Higher Import Bill and Current Account Deficit

  • A sustained rise in oil prices would increase India’s import expenditure, widening the Current Account Deficit (CAD) and putting pressure on the Indian rupee.
  • It could also affect fiscal stability through higher subsidy burdens.

Impact on Economic Growth

  • Expensive energy imports increase production costs for industries, reduce business profitability, and may slow economic growth.
  • Sectors such as aviation, logistics, fertilizers, and manufacturing would be particularly affected.

Importance of Energy Diversification

  • The situation reinforces the need for India to:
    • Diversify crude oil import sources beyond West Asia.
    • Expand the Strategic Petroleum Reserve (SPR).
    • Increase the share of renewable energy and alternative fuels.
    • Strengthen energy partnerships with countries in Africa, the Americas, and Russia.
    • Promote domestic exploration and production under initiatives such as the Hydrocarbon Exploration and Licensing Policy (HELP).

Strategic and Diplomatic Significance

  • India has a strong interest in ensuring freedom of navigation and maintaining peace in the Indian Ocean and West Asia.
  • It is likely to continue supporting a rules-based maritime order under UNCLOS, while balancing its diplomatic relations with Iran, Gulf countries, and major global powers.
UPSC Prelims and Mains Practice Question

Q. Consider the following statements:

  1. Iran has signed but not ratified the United Nations Convention on the Law of the Sea (UNCLOS).
  2. UNCLOS guarantees the Right of Transit Passage through international straits used for navigation.
  3. The Corfu Channel Case (1949) is associated with maritime navigation through international straits.

Which of the statements given above are correct?

A. 1 and 2 only
B. 2 and 3 only
C. 1 and 3 only
D. 1, 2 and 3

Answer: D

Mains Practice Question

Q. “The Strait of Hormuz is not merely a maritime chokepoint but also a test of international maritime law. Discuss the legal issues surrounding transit passage under UNCLOS and examine its implications for India’s energy security.” (250 words)


Konkan Petroglyphs Explained: Maharashtra’s AI Project And UNESCO Status

Source: Indian Express
GS I: Indian Culture – Salient aspects of Art Forms from ancient to modern times.


Overview

  1. News in Brief
  2. Konkan Petroglyphs
  3. UNESCO Status
  4. Archaeological Significance
  5. Role of Artificial Intelligence (AI)

Why in the News?

The Maharashtra government has launched a project using Artificial Intelligence (AI) to scientifically analyse, classify, and digitally document thousands of prehistoric petroglyphs in the Konkan region.

News in Brief

  • Maharashtra has allocated ₹15 crore for the AI-based documentation project that aims to strengthen India’s bid for UNESCO World Heritage Site recognition.
  • The project is expected to be completed in three years.
  • IIT Pravartak (IIT Madras Technology Innovation Hub) has been appointed for digital assessment and scientific documentation using AI.
 Konkan Petroglyphs

  • Petroglyphs are prehistoric rock carvings created by engraving or chiselling designs onto natural rock surfaces.
  • They are carved on laterite rock plateaus, a distinctive geological feature of the Konkan coast.
  • They are found mainly in the Ratnagiri and Sindhudurg districts of Maharashtra.
  • Estimated age is 20,000–10,000 BC, making them among the oldest examples of rock art in India.
  • They are believed to belong to the Mesolithic (Middle Stone Age) period.
  • The carvings depict:
    • Animals such as elephants, rhinoceroses, turtles, peacocks, fish, and deer.
    • Human-like (humanoid) figures.
    • Geometric patterns, footprints, and symbolic designs.
  • Most carving sites measure approximately 50 metres × 20 metres.
  • They provide evidence of prehistoric human life, artistic expression, biodiversity, and environmental conditions.
  • They are considered one of the largest concentrations of prehistoric rock art in South Asia.

Discovery and Survey

  • Major surveys and archaeological documentation were conducted between 2017 and 2023.
  • Around 150 villages across the Konkan region were surveyed.
  • Petroglyphs were discovered in 107 villages.
  • More than 3,000 individual carvings have been manually documented.
  • Researchers used photography, mapping, measurements, and field surveys to record the carvings.
  • The Maharashtra government has now launched an AI-based documentation project to digitally map, classify, and preserve the petroglyphs using advanced technologies such as Artificial Intelligence, GIS, drones, and 3D imaging.
UNESCO Status

  • In 2025, the Konkan Petroglyphs were included in India’s UNESCO Tentative List.
    • The Tentative List is the mandatory first step before a site can be nominated for the UNESCO World Heritage List.
    • The nomination recognizes their:
      • Exceptional prehistoric archaeological value.
      • Outstanding artistic and cultural significance.
      • Evidence of early human creativity and symbolic behaviour.
      • Contribution to understanding prehistoric societies and environmental history.
  • The petroglyphs have not yet been inscribed as a UNESCO World Heritage Site.
  • India must demonstrate:
    • Outstanding Universal Value (OUV).
    • Authenticity and integrity of the site.
    • A robust conservation and management plan.
  • The ongoing AI-based scientific documentation is expected to strengthen India’s case for securing UNESCO World Heritage status.
Archaeological Significance

  • The Konkan petroglyphs are estimated to date between 20,000 and 10,000 BC, making them among the oldest known examples of rock art in India and significantly older than the Harappan Civilization (c. 3300–1300 BC).
  • They represent one of the earliest forms of artistic and symbolic expression in the Indian subcontinent, reflecting the emergence of human creativity and communication.
  • The carvings demonstrate the cognitive and observational abilities of prehistoric humans, who carefully depicted animals, human figures, footprints, and geometric patterns found in their surroundings.
  • They provide valuable evidence about the Mesolithic hunter-gatherer lifestyle, indicating dependence on hunting, fishing, and food gathering before the advent of settled agriculture.
  • The petroglyphs offer insights into the social, cultural, and spiritual beliefs of prehistoric communities through symbolic motifs and ritualistic representations.
  • They help archaeologists reconstruct the environment, climate, and biodiversity of prehistoric western India.
  • The discoveries strengthen India’s understanding of prehistoric archaeology and enrich the country’s cultural heritage.

Key Findings

Evidence of a Pre-Agricultural Society

  • Archaeologists observed the absence of domesticated animals, particularly bulls, which are closely associated with agricultural societies.
  • This suggests that the carvings were created before agriculture became widespread in the region.
  • The communities were primarily hunter-gatherers, relying on hunting, fishing, and the collection of wild plants.
  • The findings indicate that the petroglyphs belong to a period prior to the Neolithic agricultural revolution, which began around 9000 BC in many parts of the world.

Absence of Horse Depictions

  • No carvings depicting horses have been identified among the thousands of documented petroglyphs.
  • Since horses became common in the Indian subcontinent only during later historical periods, their absence suggests the carvings belong to an earlier prehistoric phase.
  • This finding supports the estimated antiquity of the petroglyphs and helps archaeologists establish their chronology.

Rich Prehistoric Biodiversity

  • The carvings portray a wide range of wildlife, including:
    • Elephants
    • Rhinoceroses
    • Turtles
    • Peacocks
    • Fish
    • Deer and other wild animals
  • The presence of species such as rhinoceroses, which are no longer found in the Konkan region, indicates that the area’s ecology and climate were significantly different in prehistoric times.
  • These depictions provide valuable evidence for reconstructing ancient ecosystems, biodiversity, and environmental changes in western India.

Insights into Early Human Life

  • The carvings reveal that prehistoric humans possessed advanced observation skills, artistic abilities, and symbolic thinking.
  • They suggest the existence of organized communities capable of creating large-scale rock art.
  • The motifs also indicate possible ritualistic, cultural, or communicative purposes, although their exact meaning remains a subject of research.
Role of Artificial Intelligence (AI)

AI will help in,

  •  Identify and categorize carvings based on their features.
  • Map petroglyph sites using GIS, drones, and satellite imagery.
  • Create high-resolution 3D models for preservation.
  • Detect motifs and hidden patterns for research.
  • Compare Konkan petroglyphs with rock art from other regions.
  •  Monitor erosion, cracks, and weathering.
  • Develop a permanent digital archive.
  •  Enable faster and more accurate archaeological analysis.
  • Promote heritage through virtual exhibitions and educational resources.
  •  Provide scientific evidence to strengthen India’s World Heritage bid.
UPSC Prelims and Mains Practice Question

Q. Consider the following statements regarding the Konkan Petroglyphs:

  1. They are mainly found in Ratnagiri and Sindhudurg districts of Maharashtra.
  2. They are painted using natural mineral pigments.
  3. They have been included in India’s UNESCO Tentative List.
  4. AI is being used for their scientific documentation and classification.

Which of the statements given above are correct?

A. 1, 3 and 4 only
B. 1 and 2 only
C. 2 and 4 only
D. 1, 2, 3 and 4

Answer: A

Explanation: Statement 2: Incorrect. Petroglyphs are carved, not painted.

Mains Practice Question

Q. Prehistoric rock art provides valuable insights into the cultural evolution of early human societies. Discuss the significance of the Konkan petroglyphs in understanding India’s prehistoric heritage. How can emerging technologies such as Artificial Intelligence (AI) strengthen archaeological research and heritage conservation? (15 Marks, 250 Words)


Lower Oil Prices And India’s Economy

Source: Indian Express
GS III: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, and Development


Overview

  1. News in Brief
  2. Key Highlights
  3. Challenges
  4. Way Forward

Why in the News?

An opinion article highlighted that the fall in global crude oil prices offers India a strategic opportunity to strengthen macroeconomic stability, improve fiscal health, reduce external vulnerabilities, and invest in long-term structural.

News in Brief

  • Global crude oil prices have moderated due to easing geopolitical tensions and reopening of major shipping routes.
  • As India imports around 85% of its crude oil requirement, lower oil prices reduce the import bill.
  • This improves the Current Account Deficit (CAD), eases inflationary pressures, strengthens the rupee, and provides fiscal space.
Key Highlights

India’s Current Macroeconomic Situation

  • CPI inflation remains below the RBI’s medium-term target, indicating stable retail prices.
  • Foreign exchange reserves remain comfortable, strengthening external stability.
  • The rupee has recovered following recent geopolitical uncertainties.
  • India’s GDP growth continues to outperform many major global economies.
  • WPI (Wholesale Price Index) inflation is rising faster than CPI (Consumer Price Index), signaling possible future inflationary pressures.

Why Lower Oil Prices Matter for India

  • Lower crude oil prices reduce India’s import bill.
  • They help narrow the Current Account Deficit (CAD).
  • They ease inflationary pressures across the economy.
  • They reduce transportation and logistics costs.
  • They improve the government’s fiscal position.
  • They support a stable rupee.
  • They boost investor confidence in the Indian economy.

Current Account Deficit (CAD)

  • CAD occurs when a country’s imports of goods, services, and transfers exceed exports.
  • High CAD leads to:
    • Rupee depreciation
    • Higher external borrowing
    • Pressure on forex reserves

 

Strategic Priorities

  • India should use oil savings to strengthen external buffers by increasing foreign exchange reserves and improving external resilience.
  • Lower fuel costs should be leveraged to improve export competitiveness by reducing production and logistics costs.
  • The government should maintain fiscal discipline by prioritizing capital expenditure, infrastructure, and Strategic Petroleum Reserves instead of increasing subsidies.

Opportunity for Manufacturing

  • Lower energy costs, the Production Linked Incentive (PLI) Scheme, and the China Plus One strategy can attract more global manufacturing investment to India.
Challenges

  • Rising WPI inflation could eventually increase retail inflation.
  • A weak monsoon may raise food inflation and adversely affect agriculture and increase rural distress.
  • Diverting oil savings towards subsidies instead of productive investments could weaken fiscal discipline.

Foreign Exchange Reserves

  • Components:
    • Foreign Currency Assets
    • Gold Reserves
    • SDRs
    • Reserve Position in IMF
  • Maintained by Reserve Bank of India (RBI)
  • Functions:
    • Supports rupee stability
    • Helps during external shocks
    • Meets import payments

Strategic Petroleum Reserve (SPR)

  • Purpose- to Store crude oil for emergencies.
  • Current Indian SPR locations are
    • Visakhapatnam
    • Mangaluru
    • Padur
    • Second Phase – Chandikhol, Padur Expansion
  • Managed by Indian Strategic Petroleum Reserves Limited (ISPRL)
Way Forward

  • Use the current oil price advantage to accelerate economic reforms and improve long-term resilience.
  • Promote domestic oil and gas exploration to reduce import dependence.
  • Fast-track the transition to clean energy through solar, wind, green hydrogen, and biofuels.
  • Enhance energy efficiency in transport, industry, and households to reduce fuel consumption.
  • Diversify crude oil import sources to improve energy security and reduce geopolitical risks.
  • Strengthen manufacturing and exports by leveraging lower energy costs and improving ease of doing business.
  • Adopt a stable and predictable fuel pricing policy to shield the economy from future oil price shocks.
UPSC Prelims and Mains Practice Question

Consider the following statements regarding the impact of lower crude oil prices on India:

  1. Lower crude oil prices reduce India’s import bill and improve the Current Account Deficit.
  2. Lower crude oil prices always increase Wholesale Price Index (WPI) inflation.
  3. Savings from lower oil prices can be used to strengthen foreign exchange reserves and capital expenditure.

Which of the statements given above is/are correct?

A. 1 only
B. 1 and 3 only
C. 2 and 3 only
D. 1, 2 and 3

Answer: B. 1 and 3 only

Mains Practice Question

Q. The recent decline in global crude oil prices presents India with a unique opportunity to strengthen its macroeconomic fundamentals. Discuss the economic benefits of lower crude oil prices for India and suggest measures to utilize this opportunity for long-term economic resilience. (15 Marks, 250 Words)


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