CURRENT AFFAIRS

Bio-economy refers to the knowledge-based production and utilization of biological resources, such as plants, animals, micro-organisms, and related processes, to generate sustainable goods and services. 

Angel Tax is the income tax levied on the capital raised by unlisted companies (typically startups) when they issue shares to investors at a price higher than the Fair Market Value (FMV) of the shares. 

India's startup ecosystem refers to the vibrant and dynamic network of entrepreneurs, startups, investors, incubators, accelerators, and supporting entities that drive innovation, business growth, and job creation in the country. 

A Living Wage refers to the minimum level of income necessary for a worker and their family to afford a basic but decent standard of living. 

The gig economy refers to a labour market where individuals undertake temporary, freelance, or on-demand jobs, often mediated by digital platforms such as Uber, Ola, Swiggy, Zomato, UrbanClap, Upwork, and Freelancer. 

The Insurance Regulatory and Development Authority of India (IRDAI) was established following the recommendations of the Malhotra Committee (1994), which critically examined the need for structural reforms in the insurance sector.

Launched by: National Sample Survey Office (NSSO), Ministry of Statistics & Programme Implementation (MoSPI).

In recent years, the trade war between major economies like the US and China has caused instability in the global trade system. Due to globalization, this instability is likely to have an impact on the Indian economy as well.

The TRIPS Agreement is the most comprehensive multilateral agreement on intellectual property rights (IPRs). 

The Human Development Report (HDR) is an annual publication by the United Nations Development Programme (UNDP), first launched in 1990.