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Indian Economy

GLOBAL GENDER GAP REPORT

June 12, 2021

GLOBAL GENDER GAP REPORT India has slipped 28 places to rank 140th among 156 countries in the World Economic Forum’s Global Gender Gap Report 2021, becoming the third-worst performer in South Asia. About: Global Gender Gap Index was first introduced by the WEF in 2006 as a framework to benchmark progress on disparities between women […]

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Social Impacts Of Urbanization

May 13, 2021

Social Impacts of Urbanization Introduction According to the WHO, Urbanization refers to the process of global scale changing the social and environmental landscape on every continent. Urbanization is a result of population migration from rural areas in addition to natural urban demographic growth. Social Impacts of Urbanization: Urbanization has just as much impact on social […]

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Monetary Policy Committee (MPC)

May 10, 2021

Monetary Policy Committee (MPC) Why in news? Globally, policymakers have been caught off-guard by the public health, financial, and economic dislocations triggered by Covid-19. However, having learnt from the global financial crisis, many major monetary policymakers have taken aggressive measures, some even inter-meeting. In contrast, India’s MPC has been conspicuous by its absence despite the […]

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AT-1 BONDS

May 8, 2021

 AT-1 BONDS Why in news? Recently, the Reserve Bank of India (RBI) has made a proposal to write-down Additional Tier-1 (AT-1) bonds as part of the SBI-led restructuring package for Yes Bank. The government and the RBI seem to have worked overtime just before the weekend to put together a bailout package for YES Bank. With the SBI […]

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Parallel Economy in India

May 7, 2021

Parallel Economy in India What is parallel economy? Black economy is referred by more than 30 different names across the globe as per some international studies. The other names of black economy are parallel economy, black money, informal economy etc. The parallel economy consists of all the activities in which black incomes are generated and […]

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Global Hunger Index 2020

May 7, 2021

Global Hunger Index 2020 According to Global Hunger Index 2020 report, India was ranked 94 out of 107 countries. Even the neighbouring countries like Nepal, Pakistan, and Bangladesh have better scores than India. The Global Hunger Report report gives India a score of 27.2, which puts it in the ‘serious category’. GHI is based on […]

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Vehicle Scrappage Policy

May 6, 2021

Vehicle Scrappage Policy Commercial vehicles of more than 15 years and passenger vehicles of more than 20 years will have to be mandatorily scrapped as per Ministry of Road Transport and Highways (MoRTH). What is in Proposal? Enhanced re-registration will be applicable on private vehicles from the 15th year from the date of registration.  Private […]

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Startup India Seed Fund Scheme (SISFS)

May 4, 2021

Startup India Seed Fund Scheme (SISFS) Why in news? The Startup India Seed Fund Scheme (SISFS) has been launched. About the Startup India Seed Fund Scheme (SISFS) The scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization. Scheme was Launched by Department for Promotion […]

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The Pradhan Mantri Fasal Bima Yojana (PMFBY)

May 3, 2021

The Pradhan Mantri Fasal Bima Yojana (PMFBY) The PM Fasal Bima Yojana (PMFBY) launched in 2016,  has completed 5 years in order to become “self-reliant farmers”. Main objectives of the Scheme The aim of PM Fasal Bima Yojana is to provide financial support to the farmers suffering from crop damages due to unforeseen events. This […]

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Banking Regulation Amendment

May 1, 2021

Banking Regulation Amendment Introduction A bill to provide more powers to the RBI for regulating cooperative banks was introduced by Finance Minister Nirmala Sitharaman in the Lok Sabha. The Banking Regulation (Amendment) Bill, 2020, which comes in the backdrop of PMC Bank scam, seeks to strengthen cooperative banks by increasing professionalism, enabling access to capital, improving governance and ensuring sound […]

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Role of Public Sector in the Upliftment of Society

April 29, 2021

Role of Public Sector in the Upliftment of Society The public sector plays a major role in uplifting the economic condition of society in various ways. The major role of the Public sector can be explained below: Public sector & capital formation – This sector has been a major reason for the generation of capital in […]

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AGRICULTURAL INFRASTRUCTURE FUND

April 28, 2021

AGRICULTURAL INFRASTRUCTURE FUND  It is a Central Sector Scheme meant for setting up storage and processing facilities, which will help farmers, get higher prices for their crops. The AIF is a medium – long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and […]

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ABOUT INTEGRATED OMBUDSMAN SCHEME

April 28, 2021

ABOUT INTEGRATED OMBUDSMAN SCHEME Recently, the RBI had released framework for strengthening the grievance redress mechanism in banks. Reserve Bank of India (RBI) announced an integrate the three separate ombudsman scheme “One Nation One Ombudsman” to improve grievance redressal mechanism more efficient and simpler for bank customers. The redressal will continue to be cost-free for […]

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An Asset Reconstruction Company (ARC)

April 28, 2021

An Asset Reconstruction Company (ARC) An Asset Reconstruction Company (ARC) is a company incorporated under the Companies Act and registered with Reserve Bank of India under section 3 of The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Recently, Union budget 2021-22 has proposed a new ARC/Bad Bank to consolidate […]

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Companies (CSR) Policy Rules 2021

April 28, 2021

Companies (CSR) Policy Rules 2021 Recently, the Government of India brought into effect the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 . The Rules amended the exiting Companies (Corporate Social Responsibility Policy) Rules, 2014 . What is Corporate social responsibility (CSR)  Corporate social responsibility (CSR) is a type of business self-regulation with the aim […]

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Report of 15th Finance Commission

April 28, 2021

Report of 15th Finance Commission The Commission was conducted by Mr. N.K. Singh and the report was titled ‘Finance Commission in COVID times.’ The Finance Commission is a Constitutionally mandated body that is at the centre of fiscal federalism. The 15th Finance Commission is asked to submit two reports.  The first report consist of recommendations […]

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CONCEPT OF DEFICITS IN BUDGET EXPLAINED

April 23, 2021

CONCEPT OF DEFICITS IN BUDGET EXPLAINED A budget can be a balance budget, surplus budget or a deficit budget on revenue account. The Union Budget every year projects four deficits viz., revenue deficit, fiscal deficit, primary deficit and effective revenue deficit. It may also project monetised deficit which reflects borrowing from the RBI. Various deficits […]

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 India’s Tax Structure

April 23, 2021

 India’s Tax Structure The salient features of India’s tax structure are as follows:- Progressive, which means that as income goes up, the rate of tax goes up so that the rich are taxed at a higher rate than the poor so as to reduce inequalities. Prone to evasion which implies that there are too many […]

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Policy on Expenditure management in India

April 23, 2021

Policy on Expenditure management in India  Public expenditure management is an integral part of fiscal reforms. The Government has taken a series of initiatives in this regard, like avoiding rush of expenditure through releases in a time sliced manner; simplification of procedures;unspent balances’ and ‘utilisation certificates’ from States and other implementing agencies; instructions that prohibit […]

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Merits and Demerits of FDI

April 23, 2021

Merits and Demerits of FDI Merits of FDI Foreign Direct Investment brings a large number of benefits to the recipient country as follows: ‑ It brings precious foreign exchange. It is a long term and stable flow It bridges saving -investment gap in a developing country which generally has shortage of investible resources. It brings […]

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Inflation in India ; Explained in detail

April 23, 2021

 Inflation in India ; Explained in detail CONSEQUENCES OF INFLATION Apart from uncertainties in production, inflation causes certain serious imbalances in the economy. Price relationships are badly distorted and production pattern goes out of line with demand. As a result, there is misallocation of resources. Capital resources available in the country get diverted from long-term […]

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GENERAL ANTI-AVOIDANCE RULES (GAAR)

April 23, 2021

GENERAL ANTI-AVOIDANCE RULES (GAAR) GAAR is incorporated in Direct Tax Code as a very important provision of direct tax policy. Objective of GAAR: Its objective is to prevent misuse and abuse of tax policy and counter aggressive tax avoidance schemes while ensuring that it is used only in appropriate cases by enabling a review of […]

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Salient Features and Highlights of the diluted DTC

April 23, 2021

Salient Features and Highlights of the diluted DTC are as follows DTC removes most of the categories of exempted income. Unit Linked Plans (ULIPs), Equity Linked Mutual Funds (ELSS), Term deposits, NSCs (National Savings certificates), Long term infrastructures bonds, house loan principal repayment, stamp duty and registration fees on purchase of house property will lose […]

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Quantitative & Qualitative Credit Controls Measures

April 23, 2021

Quantitative & Qualitative Credit Controls Measures Quantitative Controls: These are controls designed to regulate the overall volume of credit created i.e. loans given by banks. The principal instruments used under these controls are as follows: Bank Rate: It is that rate of interest at which the RBI provides refinancing facilities to commercial banks by rediscounting […]

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Indian Labour Laws and Labour Markets

April 23, 2021

Indian Labour Laws and Labour Markets Indian labour market is characterized by a sharp dichotomy. A large number of establishments in the unorganized sector remain outside any regulation, while the organized sector has been regulated fairly stringently. It can be reasonably argued that the organized sector has provided too much of job-security for too long, […]

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SCHEME FOR MEGA FOOD PARKS IN INDIA

April 23, 2021

SCHEME FOR MEGA FOOD PARKS IN INDIA Objectives of the Scheme The primary objective of the MFPS is to provide adequate / excellent infrastructure facilities for food processing along the value chain from the farm to market. It will include creation of infrastructure near the farm, transportation, logistics and centralized processing centres. The main feature […]

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Social Protection Programme against Poverty & Unemployment

April 23, 2021

Social Protection Programme against Poverty & Unemployment Some important social protection programmes are the following: Aam Aadmi Bima Yojana (AABY): The AABY extends life and disability cover to persons between the ages of 18 and 59 years, living below and marginally above the poverty line in 47 vocational/ occupational groups, including rural landless households. The […]

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Constraints Affecting the Growth of Food Processing Industry

April 23, 2021

Constraints Affecting the Growth of Food Processing Industry While the food-processing sector offers several opportunities it faces several constraints which impede its growth, as well, such as: Low Level of Government Outlay for Development of Food Processing Industries : During 11th Plan an outlay of Rs. 4031.00 crores was envisaged but in last 4 years […]

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Growth Drivers for Food Processing Industry

April 22, 2021

Growth Drivers for Food Processing Industry Food Processing Industry ranks as the 5th largest industry in India in terms of production, consumption and exports. It employs over 16 percent of total workforce in organised manufacturing sector and 32 percent in unorganised manufacturing sector. Food and grocery dominates total retail spend of India’s population:  53 percent […]

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E-Chaupal

April 22, 2021

E-Chaupal E-Chaupal is the first private sector initiative in Agricultural Marketing. It is a business platform consisting of a set of organisational sub-system and interfaces connecting farmers to global markets. This common structure can be leveraged to procure/produce a host of products and services for the farmer as a producer as well as a consumer. […]

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Human Development Index (HDI)

April 10, 2021

Human Development Index (HDI) HDI is the most popular index calculated by the HDR. It measures human development of a particular country or region in terms of three dimensions — Longevity, Knowledge and Standard of Living. Longevity is measured by Life-Expectancy at birth. Knowledge, before HDR, 2010, was measured on the basis of two variables […]

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Gender Development and Inequality Index

April 10, 2021

Gender Development and Inequality Index GENDER DEVELOPMENT INDEX (GDI) GDI measures achievement in the same basic dimensions as the HDI does, but takes note of inequality in achievement between men and women. GDI was calculated from 1995 to 2009 but has been discontinued in HDR, 2010 but resumed with 2014 report. It is calculated for […]

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Multidimensional Poverty Index (MPI)

April 10, 2021

Multidimensional Poverty Index (MPI) MPI is a new measure introduced in the HDR, 2010 designed to capture different deprivations being faced by people at the same time. Thus, MPI identifies multiple deprivations at the household level in health, education and standards of living. The MPI reflects both the incidence of multidimensional deprivation, and its intensity—how […]

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Technology Achievement Index (TAI)

April 10, 2021

Technology Achievement Index (TAI) This index was introduced in HDR, 2001. TAI aims to capture how well a country is creating and diffusing technology and building a human skill base. Thus, this index reflects the capacity to participate in the technological innovations of the network age. It is not simply a measure of which country […]

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Inequality Adjusted HDI (IHDI)

April 10, 2021

Inequality Adjusted HDI (IHDI) IHDI adjusts the HDI for inequalities in terms of level of achievement in the three dimensions. Mathematically, a ratio of Geometric mean to Arithmetic mean is calculated for each of the three variables used to calculate HDI within a particular country. This ratio is subtracted from 1 to represent inequality in […]

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HUMAN DEVELOPMENT & ITS MEASUREMENT

April 10, 2021

HUMAN DEVELOPMENT & ITS MEASUREMENT INTRODUCTION GNP per capita is one of the basic ways in which we measure the level of economic development a country has obtained. However, excessive reliance on it as a reliable indicator of overall economic development might be dangerous. A better indicator of development should focus not only on the […]

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Narasimhan Committee 1991

April 10, 2021

Narasimhan Committee 1991 A High Level Committee with Mr. M.Narasimhan as the Chairman was set up by the Government of India on the financial system. The Committee submitted its report in November 1991. The Committee was primarily interested in the financial health of the public sector banks. The important recommendations of the Narasimhan Committee 1991 […]

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Nationalisation of Banks in India

April 10, 2021

Nationalization of Banks in India More radical measures regarding increasing role of government in the banking sector were taken in July, 1969 with the nationalization of the 14 major banks (with deposits exceeding Rs. 50 crores each). The rational given for nationalisation was that the banks, primarily controlled by a few industrialists and business magnates, had […]

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Organized Indian Money Market

April 10, 2021

Organized Indian Money Market Call Money Market This market deals in one-day loans, also known as call loans or call money. Such loans may or may not be renewed the next day. The main participants, both on lending and borrowing site, in this market are banks. The deficit and surplus banks are brought together by the […]

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FUNCTIONS OF RBI

April 10, 2021

FUNCTIONS OF RBI The RBI was established on April 1, 1935 under the RBI Act 1934. Initially it was constituted as a private share holder’s bank with a fully paid-up share capital of Rs. 5 crores. It was nationalized on January 1, 1949. RBI as Currency Authority RBI is the sole authority for the issue […]

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Micro-Small & Medium Enterprises Sector (MSME’s)

April 9, 2021

MICRO-SMALL and MEDIUM ENTERPRISES SECTOR (MSME’s) Manufacturing sector constitutes 31.8 % of MSME sector. The government has notified the Public Procurement Policy for MSMEs order 2012. Enactment of the Micro, Small and Medium Enterprises Development (SMED) Act, 2006 It provides first ever legal framework for recognition of the concept of enterprise (comprising both manufacturing and […]

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The Indian Industrial Sector at independence

April 9, 2021

The Indian Industrial Sector at independence Before the colonization of India under the British rule, India was a leading manufacturer of items like cotton and silk fabrics, handicrafts etc. These products were exported at very high prices in the world markets. The colonization of India along with the advent of the Industrial revolution in Europe […]

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NEW AGRICULTURAL POLICY (NAP) 2000

April 9, 2021

NEW AGRICULTURAL POLICY (NAP) 2000 Announced by the Central government in July, 2000 in the light of the challenges faced by the agricultural sector under the provisions of World Trade Organisation (WTO). Aimed to increase agricultural growth rate to 4% per annum for next two decades. Seeks to promote private sector participation through contract farming […]

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AGRICULTURAL EXTENSION

April 9, 2021

AGRICULTURAL EXTENSION Agricultural extension refers to an effective transfer of agricultural technologies and information to the farming community and is undertaken by Department of Agriculture & Cooperation (DAC). State Extension Programmes for Extension Reforms It is a centrally sponsored scheme, launched in May 2005 during the 10th Five Year Plan. Its objective is to support […]

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MONETARY POLICY

April 9, 2021

MONETARY POLICY It refers to the set of measures adopted by the Central Bank (RBI in case of India) for monetary management and to achieve other macro-economic goals. Some of the macro-economic goals that monetary policy seeks to achieve are: Maximum feasible output High rate of growth Fuller employment of resources Price stability Greater equality […]

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GOODS AND SERVICE TAX (GST)

April 9, 2021

Goods and Service Tax (GST) GST has not been implemented in India till now despite the fact that Budget 2009-10 had proposed to introduce it with effect from 1st April 2010. There was a burden of “tax on tax” in the pre-existing Central excise duty of the Goverment of India and sales tax system of […]

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Major Industrial Policies in India from 1947 to 1991

April 9, 2021

Major Industrial Policies in India from 1947 to 1991 Industrial Policy Resolution, 1948 (IPR 1948) It showed significant continuity in thinking between the pre-independence and post-independence government. On the basis of ownership, the industries were divided into four categories: Industries solely under the control of the central government. It included arms and ammunitions, atomic energy […]

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Major Reforms of Indian Agricultural Sector and their Future Ahead

April 9, 2021

Major Reforms of Indian Agricultural Sector and their Future Ahead Green Revolution Green Revolution, a term coined by William Gaud, is a process that leads to improved agricultural productivity. In Indian context, it was formally announced by Mrs. Indira Gandhi in 1968 during one of the three Annual Plans after the Third Five Year Plan. […]

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Schemes for Horticulture & Animal Husbandry in India

April 9, 2021

Schemes for Horticulture & Animal Husbandry in India HORTICULTURE The horticulture sector consists of crops like Fruits, Vegetables, Flowers, Plantation Crops and Spices. Globally, India is the second largest producer of fruits, and vegetables, the largest producer of mango, banana, coconut, cashew, papaya and pomegranate, and the largest producer and exporter of spices. Horticulture production […]

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Special Programmes for raising Agricultural Production

April 9, 2021

SPECIAL PROGRAMMES FOR RAISING AGRICULTURAL PRODUCTION National Food Security Mission (NFSM) NFSM is a centrally-sponsored scheme launched by the Department of Agriculture and Cooperation (DAC) in 2007-08. It pursues the resolution of National Development Council (NDC) to increase the production of rice, wheat and pulses by 10, 8 and 2 million tonnes respectively, over the […]

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AGRICULTURAL PRICE POLICY and FOOD MANAGEMENT

April 9, 2021

AGRICULTURAL PRICE POLICY and FOOD MANAGEMENT  Main Objectives of Agricultural Price Policy are Procurement of food grains from farmers at remunerative prices so that he does not switch crops. Distribution of food grains to the non-producing consumers particularly the vulnerable sections of society at affordable prices. Maintenance of reasonable terms of trade (price ratio) between […]

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AGRICULTURAL MARKETING

April 9, 2021

AGRICULTURAL MARKETING The basic aim behind agricultural marketing is to provide remunerative price to agricultural produce. Some steps taken by government in this direction are discussed here. National Agricultural Cooperative Marketing Federation (NAFED) promotes inter-state trade of agricultural produce and assists apex marketing societies. It also plays an important role in procurement operations and in […]

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INDIAN AGRICULTURAL INSURANCE

April 9, 2021

INDIAN AGRICULTURAL INSURANCE Agricultural insurance schemes are extremely important for Indian agriculture due to enormous risk and uncertainty faced by it on account of many natural calamities like droughts, flood, cyclones, erratic rainfall, raising temperatures, agro-climatic variations etc. Comprehensive Crop Insurance Scheme (CCIS) It was launched by the Central Government in 1985 at the beginning […]

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Commercial Banks (CBs) and Regional Rural Bank (RRB)

April 9, 2021

Commercial Banks (CBs) and Regional Rural Bank (RRB) Till 1961, the commercial banks provided less than 1% of total agricultural credit. However, after nationalization of banks in 1969, the total number of branches in rural areas and the credit disbursed by them increased consistently. The CBs finance rural credit directly through poverty alleviation programmes like […]

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Recent developments on Agricultural Credit

April 8, 2021

Recent developments on Agricultural Credit Kisan Credit Card (KCC) scheme KCC scheme was introduced in August 1998 to provide short and medium term loans to the farmers for their cultivation needs, including the purchase of all inputs. The scheme includes reasonable component of consumption credit and investment credit within the overall credit limit sanctioned to […]

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Agricultural Credit : Cooperative Credit Societies

April 8, 2021

Agricultural Credit : Cooperative Credit Societies Cooperative Credit Societies Till 1970-71, almost whole of institutional credit was provided by the cooperatives However, after the nationalisation of 14 major commercial banks in 1969 and the formation of Regional Rural Banks (RRBs) in 1975, their relative share in total credit flow has consistently decreased. In 2006-07, the […]

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AGRICULTURAL CREDIT in INDIA  : Concepts

April 8, 2021

AGRICULTURAL CREDIT in INDIA  : Concepts Agricultural Credit in India can be classified on two main bases viz. on the basis of specific financial requirement and on the basis of sources of credit. On the basis of financial requirement, the agricultural credit can be classified into : Short term Credit: It is requested for the […]

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Agriculture Policies since Independence: Seeds

April 8, 2021

 Agriculture Policies since Independence: Seeds In India, more than four-fifths of the farmers rely on farm-saved seed leading to a low seed replacement rate. The importance of seeds as a crucial input was more formally recognized with the introduction of High Yielding Varieties (HYV) of seeds developed in Mexico by Prof. Norman Boriaug. It was […]

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Agriculture Policies since Independence: Fertilizers

April 8, 2021

 Agriculture Policies since Independence: Fertilizers The per hectare consumption of fertilizer in nutrient terms stands at 135.3 kg in 2009-10. However, recent trends in agricultural productivity show a decline in marginal productivity of soil in relation to the application of fertilizers. One important reason for this is the skimmed application of the three important types […]

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Indian Agriculture since Independence: Irrigation Policy & Watershed Development:

April 8, 2021

Irrigation Policy & Watershed Development Irrigation schemes are divided into three categories on the basis of the area covered by them or the Culturable Command Area (CCA): Major irrigation schemes have a potential CCA of more than 10,000 hectares. Medium irrigation schemes have a potential CCA between 2,000 and 10,000 hectares Minor irrigation schemes have […]

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Agriculture policies since Independence : Land Reforms

April 8, 2021

Agriculture policies since Independence : Land Reforms Land Reforms Institutional factors like the size of land-holdings, the pattern of ownership, the method of inheritance and security of tenure have a definite impact on both investment in agriculture and welfare of population dependent on agriculture. At the time of independence, India inherited a semi-feudal agrarian structure […]

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BASIC FEATURES OF INDIAN AGRICULTURE

April 8, 2021

BASIC FEATURES OF INDIAN AGRICULTURE Agriculture sector has 60% + population dependence. This sector provides us with food security, raw material for the manufacturing sector. India’s agriculture sector is characterized by traditional, subsistence and livelihood, rain fed farming, food grain oriented, lack in diversification and commercialization. The key issues in agriculture are to improve productivity, […]

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FUNDAMENTALS OF STOCK MARKET

April 8, 2021

FUNDAMENTALS OF STOCK MARKET Stock Stock is nothing is but the ownership of the company divided into small parts and each part is called as Stock. A person carrying a stock of a company holds that part of ownership in that company. A person holding maximum stocks has maximum ownership like Directors, Chairman etc. Stock […]

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STOCK TRADING and ITS TYPES

April 8, 2021

STOCK TRADING and ITS TYPES Stock Trading  Buying and selling of stocks is called stock trading. Mainly there are two ways of doing stock trading. Online Stock Trading. Offline Stock Trading. Online Stock Trading  Doing stock trading with help of computer, internet connection and with trading/demat account is called Online Stock Trading. If you would […]

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MONEY AND ITS TYPES

April 8, 2021

MONEY AND ITS TYPES MONEY Money is one of the greatest inventions of mankind. “Money is what Money does”. In a wider sense, Money includes all mediums of exchanges like Gold, Silver, Copper, Paper, Cheques, and Bills of exchange, etc. In other words Money can be described as a token or a payment option which […]

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FUNCTIONS OF MONEY

April 8, 2021

Functions of Money Money performs five important functions:‑ Medium of Exchange: Money acts as a medium of exchange as it’s generally accepted. On the payment of money, purchase of goods and services can be made i.e. goods and services are exchanged for money. Money bifurcates buying and selling activities separately so it facilitates the exchange […]

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BANKING SECTOR REFORMS

April 8, 2021

BANKING SECTOR REFORMS Since nationalization of banks in 1969, the banking sector had been dominated by the public sector. There was financial repression, role of technology was limited, no risk management etc. This resulted in low profitability and poor asset quality. The country was caught in deep economic crises. The Government decided to introduce comprehensive […]

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FINANCIAL SECTOR REFORMS IN INDIA

April 8, 2021

FINANCIAL SECTOR REFORMS IN INDIA India’s financial system comprising its banks, equity markets, bond markets, and myriad other financial institutions is a crucial determinant of the country’s economic growth trajectory. Financial sector reforms in India introduced as a part of the structural adjustment and economic reforms programme in the early 1990s have had a profound […]

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Marginal Standing Facility & Base Rate

April 8, 2021

Marginal Standing Facility & Base Rate MARGNAL STANDING FACILITY Marginal Standing Facility (MSF) is a new scheme announced by the Reserve Bank of India (RBI) in its Monetary Policy (2011-12). It came into effect from 9th May 2011. MSF scheme is provided by RBI where the banks can borrow overnight up to 1 per cent […]

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FINANCIAL SECTOR REFORMS IN INDIA

April 7, 2021

FINANCIAL SECTOR REFORMS IN INDIA India’s financial system comprising its banks, equity markets, bond markets, and myriad other financial institutions is a crucial determinant of the country’s economic growth trajectory. Financial sector reforms in India introduced as a part of the structural adjustment and economic reforms programme in the early 1990s have had a profound […]

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Functions of RBI as a Central Bank of India 

April 7, 2021

Functions of RBI as a Central Bank of India  Bank of Issue The RBI formulates, implements, and monitors the monetary policy. Its main objective is maintaining price stability and ensuring adequate flow of credit to productive sector. Regulator-Supervisor of the financial system RBI prescribes broad parameters of banking operations within which the country’s banking and […]

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MONEY MARKET

April 7, 2021

MONEY MARKET A money market is a market for borrowing and lending of short-term funds. It deals in funds and financial instruments having a maturity period of one day to one year. It is a mechanism through which short-term funds are loaned or borrowed and through which a large part of financial transactions of a […]

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POLICY MEASURES TO CONTROL INFLATION

April 7, 2021

POLICY MEASURES TO CONTROL INFLATION The issue of inflation is addressed from both demand and supply sides. Demand management is achieved by measures such as postponing public expenditure, mopping up excess liquidity either through taxes or savings schemes and restrictions on ad hoc treasury bills. While such measures help contain the money supply, there is […]

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Forms of Market Structure-Monopolistic Competition

April 7, 2021

Monopolistic Competition Monopolistic competition is a situation in which the market, basically, is a competitive market but has some elements of a monopoly. In this form of market there are many firms that sell closely differentiated products. The examples of this form of market are Mobiles, Cosmetics, Detergents, and Toothpastes etc. Features Large number of […]

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MARKET AND ITS STRUCTURE

April 7, 2021

MARKET AND ITS STRUCTURE MARKET Market refers to a structure in which buyers and sellers of the commodity interact with each other for making transactions. It is not essential that the buyer and seller assemble at one place for making transaction. The important thing is that they should be in contact with each other through […]

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Forms of Market Structure-OLIGOPOLY

April 7, 2021

Forms of Market Structure-OLIGOPOLY The term Oligopoly means ‘Few Sellers’. An Oligopoly is an industry composed of only few firms, or a small number of large firms producing bulk of its output. Since the industry comprises only a few firms, or a few large firms, any change in Price and Output by an individual firm […]

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Forms of Market Structure-PERFECT COMPETITION 

April 7, 2021

PERFECT COMPETITION  Perfect Competition is a theoretical Market Structure that features unlimited contestability (No barriers to enter) and unlimited number of producers and consumers, and a Perfect Elastic Demand Curve. Perfect competition is a market structure where an infinitely large number of buyers and sellers operate freely and sell a homogeneous commodity at a uniform […]

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Forms of Market Structure- MONOPOLY

April 7, 2021

Monopoly Pure Monopoly is the form of market organization in which there is a single seller of a commodity for which there are no close substitutes. Thus, it is at the opposite extreme from perfect competition. Monopoly may be the result of: Increasing returns to scale Control over the supply of raw materials Patents Government […]

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MAJOR PROBLEMS OF URBANISATION IN INDIA

April 5, 2021

MAJOR PROBLEMS OF URBANISATION IN INDIA Although India is one of the less urbanized countries of the world with only 27.78 per cent of her population living in urban agglomerations/towns, this country is facing a serious crisis of urban growth at the present time. Whereas urbanisation has been an instrument of economic, social and political […]

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IMPACT OF URBANISATION ON STATUS OF WOMEN

April 5, 2021

IMPACT OF URBANISATION ON STATUS OF WOMEN Status of women in urban areas is higher than that of women in rural areas. Urban women are comparatively more educated and liberal. Against 25.1 per cent literate women in rural areas, there are 54 per cent literate women in urban areas according to the census of 1991. […]

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POVERTY IN INDIA

April 5, 2021

POVERTY IN INDIA In India, the identification process of persons below the poverty line has been put to a controversy for the last few years. Planning Commission adopted the survey of National Sample Survey Organisation (NSSO) as a basis for defining poverty line and determining the number of persons below it. On the basis of […]

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SEX RATIO IN INDIA

April 5, 2021

SEX RATIO IN INDIA The sex ratio is an important indicator of gender balance in the population. As mentioned in the section on concepts earlier, historically, the sex ratio has been slightly in favour of females, that is, the number of females per 1000 males has generally been somewhat higher than 1000. However, India has […]

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POLITICAL IMPACT OF GLOBALIZATION

April 5, 2021

POLITICAL IMPACT OF GLOBALIZATION CHANGING NATURE OF GOVERNANCE: NATION- State has undergone transformation from its traditional structure; it has lost some of its traditional meaning. Globalization has led to processes like de-territorialization in which there has been thorough reconfiguration of geography so that social space is no longer wholly mapped in terms of territorial places, […]

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GLOBALIZATION AND SOCIAL MOVEMENT IN INDIA

April 5, 2021

GLOBALIZATION AND SOCIAL MOVEMENT IN INDIA FARMERS: Globalization is likely to have serious implications for Indian agriculture. India signed the General Agreement on Tariffs and Trade [GATT] at Maracas in 1994 and became part of the World Trade Organisation [WTO]. As part of the GATT agreement developing countries including India are under obligation to introduce […]

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Cabotage Law & Encouraging Waterways- Explained

March 24, 2021

Cabotage Law & Encouraging Waterways- Explained Why in news? The Shipping Ministry has allowed foreign flagged vessels to transport fertiliser between Indian ports by easing the cabotage law. What does a cabotage law means? It means that only Indian flagged vessels are allowed to carry cargo between Indian ports. Foreign vessels can ply in Indian […]

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All India Rural Financial Inclusion Survey-Explained

March 20, 2021

All India Rural Financial Inclusion Survey-Explained Why in news? Recently NABARD released the results of the All India Rural Financial Inclusion Survey. What does the survey say? The survey that was for the year 2016-17 covered 40,327 rural households. Agricultural households were defined as those where at least one member was self-employed in agriculture in […]

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15th Finance Commission (FC) & Terms of Reference (ToR)

March 20, 2021

15th Finance Commission (FC) & Terms of Reference (ToR) Why in news? The union government constituted the 15th Finance Commission (FC) to take reviews of the financial distribution between states and the centre. As the terms of reference given to the FC have already created a controversy, it will have to take a prudent call […]

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10 Percent Quota For Economically Backward Classes

March 20, 2021

10 Percent Quota For Economically Backward Classes Recently Lok Sabha passes bill reserving 10% quota for economically backward upper castes The Lok Sabha on January 8, has approved the bill granting a 10 percent reservation for the economically backward upper castes in government jobs and educational institutions. Here’s all you need to know about the […]

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PLANNING | Indian Economy

March 20, 2021

PLANNING | Indian Economy   HISTORY Even before independence, the leaders of our freedom struggle were inspired by the model of planning adopted in the Soviet Union. The National Planning Committee (NPC) was constituted in 1938 on the initiative of Subhash Chandra Bose and under the chairmanship of Jawaharlal Nehru for the development of the overall […]

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INDIAN AGRICULTURE II: LAND REFORMS

March 20, 2021

INDIAN AGRICULTURE II: LAND REFORMS Land reforms refer to changes in the agrarian structure through direct intervention by the state. Land reforms were introduced to overcome the problems associated with the land revenue systems introduced by the British, namely, Zamindari, Mahalwari, and Ryotwari system. Some of the problems associated with these land revenue systems are […]

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INDIAN AGRICULTURE I: MARKET-IRRIGATION AND FINANCE

March 19, 2021

INDIAN AGRICULTURE I: MARKET-IRRIGATION AND FINANCE AGRICULTURAL PRODUCE MARKET COMMITTEE ACT The Agricultural Produce Market Committee (APMC) Act regulates mandis (agricultural markets). States are geographically divided, and mandis are provided at different places within a state. Farmers are compulsorily required to auction their agricultural produce at a mandi. Only licensed traders can purchase from the […]

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POPULATION

March 19, 2021

POPULATION THEORY OF DEMOGRAPHIC TRANSITION “Demo” literally means people and “transition” literally means change. Thus, theory of demographic transition explains the change in population structure. According to the theory, there are three stages in demographic transition of any society. Stage I: High Death Rate and High Birth Rate In this stage, both the death rate […]

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FINANCIAL MARKET

March 19, 2021

FINANCIAL MARKET Introduction A market is a medium that allows buyers and sellers of a specific good or service to interact and facilitate an exchange. This type of market may either be a physical marketplace where people come together to exchange goods and services in person (as in a bazaar or shopping centre), or a […]

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SUBSIDIES

March 17, 2021

SUBSIDIES A subsidy is a benefit given by the government to producers in the form of cash payment or a tax reduction and consumers in the form of reduction in prices of commodities. Reasons for subsidies A subsidy is generally used as a form of support for particular sections of a nation’s economy. It can […]

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Important Government Schemes

March 17, 2021

Important Government Schemes Introduction The government introduces various schemes to undertake the welfare of people. Some of these programmes or schemes were introduced by previous governments and some by the recent Bharatiya Janata Party (BJP) government after coming to power in 2014. MAJOR PROGRAMMES | Important Government Schemes Bharat Nirman Bharat Nirman is a time-bound […]

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Classification Of Indian Economy

March 17, 2021

Classification Of Indian Economy SECTORS OF ECONOMY  Economic activity is divided into three sectors: Primary: The primary sector of the economy makes direct use of natural resources. This includes agriculture, forestry, fishing, and mining. (A farmer and a coal mine worker would be workers in the primary sector.) The industries engaged in the production or […]

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INFLATION

March 17, 2021

INFLATION INTRODUCTION Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. As a result of inflation, the purchasing power of a unit of currency falls. For example, if the inflation rate is 10%, then 10 kg of wheat […]

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FISCAL POLICY

March 17, 2021

FISCAL POLICY Fiscal policy is the means by which a government adjusts its expenditure and revenue to influence a nation’s economy. While exercising fiscal policy, the government keeps primarily the following factors in mind: Welfare of people Financial condition of government Inflation level in the economy HIGH EXPENDITURE AND LOW REVENUE COLLECTION When the government […]

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Monetary Policy

March 17, 2021

Monetary Policy INTRODUCTION Monetary policy is the policy related to money supply in the economy. In India, the Reserve Bank of India (RBI; Central Bank) manages money supply. While managing money supply, the RBI keeps primarily two factors in mind: (1) inflation and (2) economic growth. Inflation is undesirable, whereas economic growth is desirable. Decrease […]

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Taxation System Of India

March 17, 2021

Taxation System Of India The taxation system of any country falls into three main categories: regressive, proportional, and progressive taxes. REGRESSIVE TAXES Regressive taxes are those that have a greater impact on low-income individuals or entities than high-income earners. Tax rates reduce with rise in income. Thus, marginal tax rates are lower than average tax […]

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Economic Growth And Development

March 17, 2021

Economic Growth And Development GROSS DOMESTIC PRODUCT Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated with reference to any time frame. What Does GDP Indicate? […]

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Agriculture Laws and Farmers Protest

March 17, 2021

Agriculture Laws and Farmers Protest Introduction Agriculture is the mainstay of the Indian Economy and their are various Government Schemes which are trying to minimise the burden of the Indian Farmers. Facts About Agriculture In India In India, the agricultural sector employs nearly half of the total workforce, but it contributes to 17.5% of the […]

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Arbitration And Conciliation (Amendment) Bill 2021

March 17, 2021

Arbitration And Conciliation (Amendment) Bill 2021 Why in news? The Parliament gave its nod to the Arbitration and Conciliation (Amendment) Bill, 2021 with Rajya Sabha The legislation seeks to amend the Arbitration and Conciliation Act, 1996. The Act contains provisions to deal with domestic and international arbitration and defines the law for conducting conciliation proceedings. […]

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Water Pricing In India

March 16, 2021

Water Pricing In India Why in news? The Centre has allowed gram panchayats and local bodies to decide on water usage charges for supply of potable piped water under the Jal Jeevan Mission. Need For Water Pricing In India India is specially in need of a standardized water pricing regime because of its unprecedented water […]

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Universal Basic Income

March 16, 2021

Universal Basic Income Why in news? Sikkim’s ruling Sikkim Democratic Front (SDF) has decided to include Universal Basic Income (UBI) in its manifesto for the upcoming assembly and Lok Sabha elections. The state has already begun the process of introducing the unconditional direct cash transfer scheme and is planning to implement the same by 2022. […]

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Rural Development In India

March 16, 2021

Rural Development In India Introduction Rural development usually relates to the method of enhancing the quality of life and financial well-being of an individual specifically living in populated and remote areas. Traditionally rural development is centered on the misuse of land-intensive natural resources such as forestry and agriculture. But today, increasing urbanization and change in […]

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Privatization Of Coal Sector

March 16, 2021

Privatization Of Coal Sector Introduction Coal is the most important and abundant fossil fuel in India. It accounts for 55% of the country’s energy needs. The country’s industrial heritage was built upon indigenous coal. Commercial primary energy consumption in India has grown by about 700% in the last four decades. The current per capita commercial primary energy […]

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PM Swanidhi Scheme

March 16, 2021

PM Swanidhi Scheme Why in news? The Ministry of Housing and Urban Affairs has launched PM Svanidhi, or Pradhan Mantri Street Vendor’s Atma Nirbhar Nidhi scheme. The scheme was announced by finance minister Nirmala Sitharaman on 14 May to enable street vendors to resume their livelihoods, which have been hit hard due to the national lockdown. PM […]

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National Infrastructure Pipeline

March 15, 2021

National Infrastructure Pipeline Why in News? Recently, the task force headed by Atanu Chakraborty (economic affairs secretary) on National Infrastructure Pipeline (NIP) submitted its final report to the Finance Minister. National Infrastructure Pipeline NIP will enable a forward outlook on infrastructure projects which will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth […]

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Palm Oil Diplomacy

March 15, 2021

Palm Oil Diplomacy Why in news? India has cut import duty on crude palm oil (CPO) and refined, bleached and deodorised (RBD) palm oil. It also moved RBD oil from the “free” to the “restricted” list of imports. Palm oil import in India India imported 64.15 lakh metric tonnes (MT) of CPO and 23.9 lakh […]

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Micro small and Medium enterprises (MSME)

March 15, 2021

Micro, Small and Medium Enterprises (MSME) The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 defines the sizes of the micro, small and medium enterprises in India, in Section 7 of the Act. As per the Act, the enterprises which produce or manufacture goods concerned with any industry that is specified in the First […]

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GST: Union-State Relation

March 15, 2021

GST: Union-State Relation What is Goods and Services Tax (GST)? GST is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is a comprehensive Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July […]

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Direct Taxes Code

March 13, 2021

Direct Taxes Code What is a Tax? Taxes are generally an involuntary fee levied on individuals and corporations by the government in order to finance government activities. Taxes are essentially of quid pro quo in nature. It means a favour or advantage granted in return for something. Direct Tax A Direct tax is imposed directly […]

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Technology and Rural development

March 13, 2021

Technology and Rural development Introduction Science and technology capabilities are fundamental for social and economic progress of the country. The necessity of harnessing science and technology for transforming rural India has long been recognised. In fact, Mahatma Gandhi had clearly shown an appreciation of this necessity. As early as 1935, at the All India Village […]

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Rural Regional Banks

March 13, 2021

What are Rural Regional Banks? Regional Rural Banks were set up on the basis of the recommendations of the Narasimham Working Group (1975), and after the legislation of the Regional Rural Banks Act, 1976. They are scheduled commercial banks (Government banks) and are configured as hybrid micro banking institutions, combining local orientation and small scale lending culture of […]

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New Education Policy 2020

March 13, 2021

New Education Policy 2020 Introduction Coronavirus outbreak has majorly impacted the education sector in India. Union Minister of Human Resource and Development  released reforms and education plan, National Education Policy 2020, for students that is based on the Kasturirangan committee report. Many students have faced problems in shifting to online learning. The ministry has introduced plans which […]

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Human Development in India

March 13, 2021

Human Development in India Introduction The human development (HD) story of India is unique in its kind. Through the preparation of not only national, but also sub-national Human Development Reports (HDR), India has decentralised and integrated the human development concept into its development agenda at national, State, as well as district and municipality level. Historical […]

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Export Policy of India

March 12, 2021

Export Import Policy of India Exim Policy or Foreign Trade Policy is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. Foreign trade in India is guided by the EXIM Policy of the Indian Government and is regulated by the Foreign Trade […]

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Balance of Payments

March 12, 2021

Balance of Payments About Balance of Payments Balance of payments is a statement that summarizes an economy’s transactions with the rest of the world for a specified time period. Balance of payments records only those transactions that have implications on forex reserves with the country. Also known as balance of international payments, it records all […]

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World Economic Forum

March 12, 2021

World Economic Forum Introduction World Economic Forum (WEF) is a non-profit organization that was founded in January 1971. WEF is based in Cologne-Geneva, Switzerland and was formed with an initiative to improve the states of the world. This organization was formerly known as the European Management Forum. Background Based in Geneva, Switzerland, WEF is a […]

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Urbanization and its Challenges

March 12, 2021

Urbanization and its Challenges What is Urbanization? Urbanization refers to the process of increase in population in cities and towns compared to rural areas. Urbanization in India is not new. The Indus valley civilization had planned cities. These cities had huge population with planned housing, roads and other facilities. Urbanization is also common in Greek […]

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Tribal Sub Plan

March 12, 2021

Tribal Sub Plan Schedule Tribes The tribal population in India, though a numerically small minority, represents an enormous diversity of groups. While tribes have a distinct culture and history, they also share commonalities with other marginalised sections of Indian society, such as the lack of adequate political representation, economic deprivation and cultural discrimination. They vary among themselves […]

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Temple Architecture in India

March 12, 2021

Temple Architecture in India Introduction   [Temple Architecture in India] Most of the architectural remains that survive from Ancient and Medieval India are religious in nature. In different parts of the country, distinct architectural style of temples was result of geographical, ethnic and historical diversities. There are basically 3 kinds of temple architecture in India: Nagara […]

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STARS Program

March 12, 2021

STARS Program Why in News? Recently, the World Bank has approved the Strengthening Teaching-Learning and Results for States (STARS) Programme. It will improve the quality and governance of school education in six Indian states of Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Odisha and Rajasthan through the Samagra Shiksha. Strengthening Teaching-Learning and Results for States Program (STARS) Programme The STARS program builds […]

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SOCIAL AUDIT

March 11, 2021

What is Social Audit (SA)? It is a process in which details of the resources, both financial and non-financial, is used by public agencies for development initiatives and is shared with the people often through public platforms. It includes in-depth scrutiny and analysis of the working of an entity in which the public is involved […]

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SEZ Failure And Success

March 11, 2021

SEZ Failure And Success What are Special Economic Zones (SEZ)? Special Economic Zones (SEZs) are geographically delineated ‘enclaves’ in which regulations and practices related to business and trade differ from the rest of the country and therefore all the units therein enjoy special privileges. The basic idea of SEZs emerges from the fact that, while it […]

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Port Modernization In India

March 11, 2021

Port Modernization In India Introduction India has an extensive 7,500 km coastline with 12 major ports and just under 200 minor ports, of which 139 are functioning. Primarily, the major ports deal with, by volume, 95% of India’s total foreign trade. But, across the board, these ports are underperforming because of serious infrastructure and connectivity […]

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Oil Refinery Infrastructure

March 11, 2021

Oil Refinery Infrastructure Introduction An oil refinery or petroleum refinery is an industrial process plant where crude oil is transformed and refined into more useful products such as petroleum naphtha, gasoline, diesel fuel, asphalt base, heating oil, kerosene, liquefied petroleum gas, jet fuel and fuel oils. Petrochemicals feedstock like ethylene and propylene can also be produced directly by cracking crude oil without the need of using refined products of crude oil such as naphtha […]

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National Rural Health Mission (NRHM)

March 11, 2021

National Rural Health Mission (NRHM)   Introduction   The National Rural Health Mission (NRHM) was launched by the Prime Minister on 12th April 2005, to provide accessible, affordable and quality health care to the rural population, especially the vulnerable groups. A special focus has been given to the Empowered Action Group (EAG) States. The States of North-East, […]

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Land Pooling in India

March 11, 2021

Land Pooling in India What is Land pooling? Under the land pooling mechanism, a group of land-owners pool their land and hand it over to government agency for the development of infrastructure projects. After the development of land, the agency redistributes the land after deducting some portion as compensation towards infrastructure costs. Generally, people who […]

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Jute Industry In India

March 11, 2021

Jute Industry In India Introduction   Known as the ‘golden fibre’ jute is one of the longest and most used natural fibre for various textile applications. Jute is an important Kharif crop. Almost 85% of world’s jute cultivation is concentrated in the Ganges Delta. India is the world’s largest producer of raw jute and jute goods, contributing to […]

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Insolvency and Bankruptcy code

March 11, 2021

Insolvency and Bankruptcy code What Is Insolvency And Bankruptcy? Insolvency is a situation where individuals or companies are unable to repay their outstanding debt. The legal status of an entity or a person where the debt owed to the creditors cannot be repaid is known as Bankruptcy. A court order imposes bankruptcy in most of […]

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Financial technology (Fintech) in India

March 10, 2021

Financial technology (Fintech) in India What Is Financial Technology – Fintech? Financial technology (Fintech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services. ​​​ At its core, fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and lives by […]

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Defense Preparedness of India

March 10, 2021

Defense Preparedness of India Introduction India is the world’s sixth-largest economy by nominal GDP and the third largest by purchasing power parity (PPP). Despite the fastest growth rate in the world, India’s defence outlay has been 1.58 % of the GDP (lowest since 1962 war) among its adversaries – China and Pakistan. The defence outlay […]

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Cotton Industry in India

March 10, 2021

Cotton Industry in India Introduction Textile industry includes cotton, jute, wool, silk, and synthetic fibre textiles. India is one of the leading producers of textile goods. Cotton plays an important role in the Indian economy as the country’s textile industry is predominantly cotton based. India is one of the largest producers as well as exporters […]

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The Opportunity Index 2021 Report

March 10, 2021

The Opportunity Index 2021 Report Why in news? LinkedIn has released the Opportunity Index,2021. The Opportunity Index 2021 highlights the difference in perception of available opportunities in the market for men and women in India. The 2021 survey had more than 10,000 respondents across the Asia Pacific region, from Australia, China, India, Japan, Malaysia, Philippines, and […]

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Textile sector in India

March 9, 2021

Textile sector in India Introduction India’s textiles sector is one of the oldest industries in Indian economy dating back to the 19th century. The Indian textiles industry is extremely varied, with the hand-spun and hand-woven textiles sectors at one end of the spectrum and the capital-intensive sophisticated mills sector at the other end of the spectrum. The sector […]

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Schemes Of Ministry Of Women And Child Development

March 9, 2021

Schemes Of Ministry Of Women And Child Development Introduction Ministry of Women and Child Development have been constantly working to uplift and support girl education, women’s independence, financial stability of women, protecting the health and safety rights of women and children. Various schemes are launched by the ministry to take action and plans better living […]

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Schemes Of Ministry Of TOURISM

March 9, 2021

Schemes Of Ministry Of TOURISM Introduction The Ministry of Tourism, a branch of the Government of India, is the apex body for formulation and administration of the rules, regulations and laws relating to the development and promotion of tourism in India. It facilitates the Indian department of tourism The head of the ministry is Minister of Tourism, a Minister of […]

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Schemes Of Ministry Of Science And Technology

March 9, 2021

Schemes Of Ministry Of Science And Technology Introduction Science and technology play a vital role in the development strategy of various sections of the society. Schemes operational under the SEED Programme have been formulated with the broad objective of providing opportunities to motivated scientists, engineers and field-level activists to take up time-bound research-oriented projects with […]

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Schemes Of Ministry Of POWER

March 9, 2021

Schemes Of Ministry Of POWER Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) The Deen Dayal Upadhyaya Gram Jyoti Yojana is an Indian government scheme intending to provide an uninterrupted power supply to the rural parts of India. The scheme shortened to DDUGJY is christened in honour of political thinker Deen Dayal Upadhyaya. Aim: To ensure electrification of […]

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Schemes Of Ministry Of MINORITY AFFAIRS

March 9, 2021

Schemes Of Ministry Of MINORITY AFFAIRS Introduction The Ministry of Minority Affairs was carved out of Ministry of Social Justice & Empowerment and created on 29th January, 2006 to ensure a more focused approach towards issues relating to the notified minority communities namely Muslim, Christian, Budhist, Sikhs, Parsis and Jain. Jiyo Parsi It is a Central sector scheme Jiyo Parsi Publicity […]

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Schemes Of Ministry Of JAL SHAKTI

March 9, 2021

Schemes Of Ministry Of JAL SHAKTI Introduction The Ministry of Jal Shakti is implementing the National Rural Drinking Water Programme (NRDWP) and Jal Jeevan Mission to ensure that every rural person has enough safe water for drinking, cooking and other domestic needs. The Ministry of Jal Shakti was established in May 2019 under the Government […]

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Schemes Of Ministry Of Housing And Urban Affairs

March 9, 2021

Schemes Of Ministry Of Housing And Urban Affairs Smart Cities Mission Objective of the mission is to develop 100 cities all over the country making them citizen friendly and sustainable Smart cities to be selected through City Challenge Competition These cities to be developed as satellite towns of larger cities and by modernizing the existing mid-sized […]

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Schemes of Ministry of HEALTH AND FAMILY WELFARE

March 9, 2021

Schemes of Ministry of HEALTH AND FAMILY WELFARE Introduction Initially the Ministry of Health and Family Welfare had two Departments, Each of these Departments was headed by the Secretary to the Government of India:- Department of Health & Family Welfare Department of Health Research On August 7, 2014, Department of AIDS Control has been merged with […]

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Schemes of Ministry of Fisheries, Animal husbandry & Dairying

March 9, 2021

Schemes of Ministry of Fisheries, Animal husbandry & Dairying Introduction The Department of Animal Husbandry and Dairying (AH&D) is one of the Departments of the newly created Ministry of Fisheries, Animal Husbandry & Dairying vide Cabinet Secretariat’s Notification in June 2019. The Department of Animal Husbandry and Dairying (AH&D) renamed as Department of Animal Husbandry, […]

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Schemes of Ministry of Environment, Forests And Climate Change

March 9, 2021

Schemes of Ministry of Environment, Forests And Climate Change Introduction The Ministry of Environment, Forest and Climate Change (MoEFCC) is the nodal agency of the administrative structure under the Government of India which is tasked with the planning, promotion, co-ordination and regulating the implementation of the environmental and forestry policies and programmes in the nation. […]

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Schemes of Ministry of Electronics and Information Technology

March 9, 2021

Schemes of Ministry of Electronics and Information Technology Digital India The Digital India programme has been launched with an aim of transforming the country into a digitally empowered society and knowledge economy. The Digital India would ensure that Government services are available to citizens electronically. It would also bring in public accountability through mandated delivery […]

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Schemes of Ministry of Culture

March 8, 2021

Schemes of Ministry of Culture Introduction Ministry of Culture is the ministry under the Government of India which is tasked with the preservation and promotion of art and culture of India. India has a rich and diverse cultural heritage that has formed this ministry to preserve, promote as well as disseminate all forms of art and […]

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Schemes of Ministry of Communication

March 8, 2021

Schemes of Ministry of Communication Introduction The vision of Ministry Of COMMUNICATION is to provide secure, reliable affordable and high quality converged telecommunication services anytime, anywhere for an accelerated inclusive socio-economic development. Mission of the ministry is to develop a robust and secure state-of-the-art telecommunication network providing seamless coverage with special focus on rural and […]

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Schemes of Ministry of Civil Aviation

March 8, 2021

Schemes of Ministry of Civil Aviation Introduction The Ministry of Civil Aviation is responsible for formulation of national policies and programmes for the development and regulation of the Civil Aviation sector in the country. It is responsible for the administration of the Aircraft Act, 1934, Aircraft Rules, 1937 and various other legislations pertaining to the […]

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Schemes of Ministry of AYUSH

March 8, 2021

Schemes of Ministry of AYUSH Introduction (AYUSH) is tasked with developing education, research, and propagation of alternative indigenous medicine systems in India. In November 2014 it became a separate ministry from earlier as a department. This is increased the focus on the traditional medicinal system of India for its further development and wider propagation. National […]

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Schemes of Ministry of Agriculture and Farmers welfare

March 8, 2021

Schemes of Ministry of Agriculture and Farmers welfare Introduction The Ministry Of AGRICULTURE AND FARMERS WELFARE is organized into 28 Divisions and has five attached offices and twenty-one subordinate offices which are spread across the country for coordination with state level agencies and implementation of Central Sector Schemes in their respective fields. Further, one Public […]

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SCHEMES OF HOME MINISTRY

March 8, 2021

SCHEMES OF HOME MINISTRY Crime And Criminal Tracking Network And Systems (CCTNS) It is a plan scheme conceived in the light of experience of a non-plan scheme namely – Common Integrated Police Application (CIPA) (2004-09). It aims at creating a comprehensive and integrated system for enhancing the efficiency and effectiveness of policing through adopting of […]

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FINANCIAL MARKET | INDIAN ECONOMY

March 5, 2021

Introduction | FINANCIAL MARKET | INDIAN ECONOMY A market is a medium that allows buyers and sellers of a specific good or service to interact and facilitate an exchange. This type of market may either be a physical marketplace where people come together to exchange goods and services in person (as in a bazaar or […]

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POPULATION | INDIAN ECONOMY

March 5, 2021

THEORY OF DEMOGRAPHIC TRANSITION | POPULATION | INDIAN ECONOMY  “Demo” literally means people and “transition” literally means change. Thus, theory of demographic transition explains the change in population structure. According to the theory, there are three stages in demographic transition of any society. Stage I: High Death Rate and High Birth Rate In this stage, […]

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Classification Of Indian Economy | Indian Economy

March 5, 2021

SECTORS OF ECONOMY  | Classification Of Indian Economy | Indian Economy  Economic activity is divided into three sectors: Primary: The primary sector of the economy makes direct use of natural resources. This includes agriculture, forestry, fishing, and mining. (A farmer and a coal mine worker would be workers in the primary sector.) The industries engaged […]

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Explain Irrigation Techniques.

March 16, 2020

National Agricultural Market and Irrigation Techniques e-NAM (National Agricultural Market) is a pan-India electronic trading portal launched by the Ministry of Agriculture and Farmers’ Welfare to facilitate farmers, traders, exporters, and processors with a common platform for trading commodities and irrigation techniques. As on 1 January 2017, it links 250 APMCs (Agriculture Produce Marketing Committees) […]

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Indian Agriculture.Explain various Act.

March 16, 2020

INDIAN AGRICULTURE  AGRICULTURAL PRODUCE MARKET COMMITTEE ACT The  Indian Agricultural Produce Market Committee (APMC) Act regulates mandis (agricultural markets). States are geographically divided, and mandis are provided at different places within a state. Farmers are compulsorily required to auction their  Indian agricultural produce at a mandi. Only licensed traders can purchase from the farmers at […]

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Population Density in India.

March 16, 2020

POPULATION DENSITY IN INDIA “Demo” literally means people and “transition” literally means change. Thus, theory of demographic transition explains the change in population structure. According to the theory, population density in India is in three stages in demographic transition of any society  by population density in India. Stage I: High Death Rate and High Birth […]

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Types of Financial market

March 14, 2020

Types of Financial market: PRIMARY MARKET AND SECONDARY MARKET  Financial markets are also classified as primary market and secondary market.      A primary market is a market where an initial public offer (IPO) is made or in other words, the financial instruments are issued for the first time to the public at large. Primary markets […]

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Financial market in India.

March 14, 2020

FINANCIAL MARKET in India A financial market in India is a medium that allows buyers and sellers of a specific good or service to interact and facilitate an exchange. This type of  financial market in India may either be a physical marketplace where people come together to exchange goods and services in person (as in […]

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Various Subsidies In India.

March 14, 2020

Under various subsidies in INDIA:    Soil Health Cards The Soil Health Card scheme was launched by the Government of India in February 2015. Under the various subsidies in India scheme, the government plans to issue soil cards to farmers, which will carry crop-wise recommendations of nutrients and fertilizers required for the individual farms to […]

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subsidy in India.

March 14, 2020

SUBSIDY in India A subsidy is a benefit given by the government to producers in the form of cash payment or a tax reduction and consumers in the form of reduction in prices of commodities. Reasons for subsidies A subsidy is generally used as a form of support for particular sections of a nation’s economy. […]

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Project Digitial India

March 14, 2020

 Project Digital India Project digital India is a campaign launched by the Government of India which will take India to a new high to ensure that government services are made available to citizens electronically and to increase Internet connectivity and digital literacy in order to empower people. It was launched in July 2015 by Prime […]

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What are the different schemes under BP government?

March 14, 2020

SCHEMES UNDER BP GOVERNMENT Smart Cities Project The Smart Cities Project under different government scheme launched by BP government  aims to transform 100 cities by 2019-20, with the union government providing financial support of ₹48,000 crore over 5 years. Each city will receive central assistance of ₹200 crore in the first year and ₹100 crore […]

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What are the different Government Schemes in India?

March 14, 2020

 DIFFERENT GOVERNMENT SCHEMES IN INDIA The government introduces various different schemes in India to undertake the welfare of people. Some of these different government schemes in India were introduced by previous governments and some by the recent Bharatiya Janata Party (BJP) government after coming to power in 2014. MAJOR PROGRAMMES Bharat Nirman Bharat Nirman is […]

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Sectors of Indian economy.

March 13, 2020

CLASSIFICATION OF INDIAN ECONOMY SECTORS OF INDIAN ECONOMY Economic activity is divided into three sectors: Primary: The industries engaged in the production in sectors of Indian economy or extraction of natural resources such as crops, oil, and ores are part of the primary sector of  Indian economy.. This includes agriculture, forestry, fishing, and mining. (A […]

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Do Question on Indian Economy

March 12, 2020

Practice Questions 1.Which one of the following government steps has proved relatively effective in controlling the double-digit rate of inflation in the Indian economy as experienced in the 1970s? (a)Enhanced rate of production of all consumer goods (b)Streamlined public distribution system (c)Pursuing an export-oriented strategy (d)Containing budgetary deficits and unproductive expenditure 2.The purchasing power of […]

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Measurement of Inflation in India.

March 12, 2020

MEASUREMENT OF INFLATION Inflation Indices In India, CPI and WPI are two major indices for measuring inflation. Comparison between WPI and CPI The WPI was the main index for measurement of inflation in India till April 2014 when the RBI adopted CPI as the key measurement of inflation. The WPI is computed by the Office […]

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Various Effects of Inflation?

March 12, 2020

 VARIOUS EFFECTS OF INFLATION  Debtors and creditors: During periods of rising prices, debtors gain and creditors lose. When prices rise, the value of money falls. Though debtors return the same amount of money, but they pay less in terms of value of money. Thus, various effects of Inflation brings about a redistribution of real wealth […]

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What is Inflation? Discuss various types of Inflation.

March 12, 2020

INFLATION Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. As a result of inflation, the purchasing power of a unit of currency falls. For example, if the inflation rate is 10%, then 10 kg of wheat that […]

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PRACTICE TEST

March 11, 2020

1.Economic Survey in India is published by the Reserve Bank of India NITI Aayog Ministry of Finance, Government of India Ministry of Industries, Government of India 2.Fiscal policy in India is formulated by Reserve Bank of India Planning Commission Finance Ministry Securities and Exchange Board of India 3.If we deduct grants to states for the […]

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Reform initiatives in the budget.

March 11, 2020

In economic terms, budget is divided into two types: revenue budget and capital budget.Reforms initiatives in the budget. The revenue budget consists of transactions that have implications up to 1 year. The capital budget consists of transactions that have implications of more than 1 year. Both revenue and capital budgets consist of receipts as well […]

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What is Budget?

March 11, 2020

BUDGET A budget is an estimation of the revenue and expenses over a specified future period of time. The government publishes annual budget which is being prepared for the coming financial year. In this budget, receipts that are expected to arise and expenses that are expected to be incurred are mentioned. Financial year refers to […]

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Importance of Government Deficit in India.

March 11, 2020

Importance of Government deficit in India When the government exercises fiscal policy, it incurs deficit (shortfall in funds). The expenditure of the government is usually higher than the revenue collection. The importance of government deficit in India prefers to run in deficit because deficit enables it to undertake more welfare of the people. There are […]

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What is Fiscal Policy?

March 11, 2020

FISCAL POLICY  Fiscal policy is the means by which a government adjusts its expenditure and revenue to influence a nation’s economy. While exercising fiscal policy, the government keeps primarily the following factors in mind: Welfare of people Financial condition of government Inflation level in the economy HIGH EXPENDITURE AND LOW REVENUE COLLECTION When the government […]

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What is Money Supply? Calculation of money supply.

March 11, 2020

MEANING OF MONEY SUPPLY All the money held with public (in the form of currency or bank deposits), the RBI, and the government is called the total stock of money or monetary aggregate. Money supply is that part of this total stock of money that is with the public. Public includes households, firms, local authorities, […]

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Reserve Bank of India?Different types of bank accounts.

March 11, 2020

RESERVE BANK OF INDIA The Reserve bank of India is India’s central bank, which commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. The Reserve Bank of India is an independent apex monetary authority that also regulates banks and provides […]

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What is Monetary Policy?

March 11, 2020

MONETARY POLICY Monetary policy is the policy related to money supply in the economy. In India, the Reserve Bank of India (RBI; Central Bank) manages money supply. While managing money supply, the RBI keeps primarily two factors in mind: (1) inflation and (2) economic growth. Inflation in monetary policy is undesirable, whereas economic growth is […]

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What is Human resource Development? Methods of calculating HDI.

March 9, 2020

HUMAN RESOURCE DEVELOPMENT Human resource development refers to improvement in the quality of life, increase in the number of opportunities, and in the freedom people enjoy. The concept of human development, as understood today, was introduced by Dr. Mahbub ul Haq, a Pakistani economist. According to him, human development refers to an enlargement of people’s […]

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Poverty index in India.

March 9, 2020

MULTIDIMENSIONAL POVERTY INDEX The global Multidimensional Poverty Index (MPI) was developed in 2010 by the Oxford Poverty and Human Development Initiative (OPHI) and the UNDP. It replaced the previous Human Poverty Index. The global poverty index is an international measure of acute poverty index in India covering over 100 developing countries. It complements traditional income-based […]

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Poverty lines in India.Estimation and Committees

March 9, 2020

POVERTY ESTIMATION IN INDIA In 1993, The Planning Commission constituted a task force for the calculation of poverty lines in India, chaired by Lakdawala. The committee made the following suggestions: Consumption expenditure to be calculated based on calorie consumption, i.e. 2400 in rural areas of poverty lines in India and 2100 in urban areas. State-specific […]

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What is Economic Development? Growth and approaches

March 9, 2020

DEFINITION OF ECONOMIC DEVELOPMENT This approach emerged because overemphasis on quantitative goals such as increase in GDP levels often made nations ignore the equally essential non-economic parameters such as health, education, life expectancy, and quality of life. Economic development is defined as the process of increase in volume of production along with the improvement in […]

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Market price and factor cost.

March 9, 2020

MARKET PRICE AND FACTOR COST What Is Factor Cost? -A number of inputs are required in the production process. These inputs are commonly known as factors of production and include things such as land, labour, capital, and entrepreneurship. Producers of goods and services incur a cost for using these factors of production. Factor cost refers […]

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Indian private sector: Explain schemes and challenges

March 9, 2020

INDIAN ECONOMY AT PRESENT Entry of Indian Private Sector: Since 1991, private players have been given entry into telecom, insurance, civil aviation under , shipping, mineral exploration, pension funds,civil aviation, shipping, mineral exploration, pension funds, in Indian private sector etc. Indian Private sector players may indulge in exploitative practices to earn higher profits in Indian […]

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Industrial policy.

March 9, 2020

 INDUSTRIAL POLICY PRIOR TO 1991 In the initial years, industrial policy in India played a larger role in the industrialization of India. Moreover, on account of shortage of intermediate goods such as cement, coal, steel, etc. and limited industrial output, the government maintained strict price and quantity regulations over the private sector. Industrial Policy Resolution […]

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Gross domestic product in India.

March 9, 2020

GROSS DOMESTIC PRODUCT Gross domestic product in India the monetary value of all the finished goods and services produced within a country’s borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated with reference to any time frame. What Does GDP in India Indicate? GDP in […]

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Narasimhan Committee-II Recommendations

July 25, 2019

Narasimhan Committee-II Recommendations The Narasimhan Committee on banking sector reforms submitted its report in April 1998 and made a series of sweeping recommendations. The report covers an entire gamut of issues ranging from bank mergers and the creation of globalised banks to bank closures, recasting bank boards and revamping banking legislations. The Committee makes a […]

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Narasimhan Committee Recommendations:

July 25, 2019

Narasimhan Committee Recommendations: The Committee on Financial Sector Reforms headed by Mr. M. Narasimhan (1991) recommended a large number of measures to reform the banking and financial sector. Major recommendations of the Committee were as follows: (i.) There should be no bar to new banks being set up in the private sector, provided they conformed […]

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Transfer Pricing and Advance Pricing Agreements

July 25, 2019

Transfer Pricing and Advance Pricing Agreements Transfer Pricing refers to the pricing of assets, tangible and intangible, services, and funds transferred within an organisation in cross-border transactions. In other words, transfer pricing is the price at which a company sells goods to its own parent or subsidiary. Tax administrations apply stringent rules to pricing of […]

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What is outcome Budgeting?

July 25, 2019

OUTCOME BUDGET A system of performance budgeting by Ministries handling development programmes was introduced in 1969 following the recommendations of the Administrative Reforms Commission. For long, a need has been felt to address certain weaknesses that have crept into the performance budgeting framework such as lack of clear one-to-one relationship between the financial and the […]

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Non-Banking Financial Companies

July 25, 2019

Non-Banking Financial Companies Non-Banking Financial Companies (NBFCs) broadly fall into three categories, viz., NBFCs accepting deposits from the public; NBFCs not accepting/holding public deposits: and core investment companies (i.e., those acquiring shares / securities of their group/ holding/ subsidiary companies to the extent of not less than 90 percent of total assets and which do […]

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Inflation in India

July 25, 2019

Inflation is defined as a situation in which there is a gradual rise in the general price level and a fall in the value / purchasing power of money observed over a period of time which may generate expectations of a further rise. Inflation implies a sustained, unchecked rise in the general price level observed […]

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GENERAL ANTI-AVOIDANCE RULES (GAAR)

July 23, 2019

GAAR is incorporated in Direct Tax Code as a very important provision of direct tax policy. Objective of GAAR: Its objective is to prevent misuse and abuse of tax policy and counter aggressive tax avoidance schemes while ensuring that it is used only in appropriate cases by enabling a review of GAAR. It aims at […]

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Direct Taxes Code

July 23, 2019

Salient Features and Highlights of the diluted DTC are as follows: DTC removes most of the categories of exempted income. Unit Linked Plans (ULIPs), Equity Linked Mutual Funds (ELSS), Term deposits, NSCs (National Savings certificates), Long term infrastructures bonds, house loan principal repayment, stamp duty and registration fees on purchase of house property will lose […]

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CONCEPT OF DEFICITS

July 23, 2019

A budget can be a balance budget, surplus budget or a deficit budget on revenue account. The Union Budget every year projects four deficits viz., revenue deficit, fiscal deficit, primary deficit and effective revenue deficit. It may also project monetised deficit which reflects borrowing from the RBI. Various deficits that appear in Union Budget are […]

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Non-Banking Financial Companies

July 23, 2019

Non-Banking Financial Companies (NBFCs) broadly fall into three categories, viz., NBFCs accepting deposits from the public; NBFCs not accepting/holding public deposits: and core investment companies (i.e., those acquiring shares / securities of their group/ holding/ subsidiary companies to the extent of not less than 90 percent of total assets and which do not accept public […]

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BASEL NORMS

July 23, 2019

BASEL NORMS These are norms of sound banking practices laid down by the Basel Committee on Bank Supervision located at Basel, Switzerland. This Committee operates under the auspices of the Bank for International Settlement (BIS) located in Basel which acts as Central bank of Central banks, of which the RBI is also a member. Basel […]

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What is authorized, issued, subscribed and paid up capital?

July 22, 2019

Authorized capital: The amount of capital with which a company is registered with the registrar of companies (body responsible for registration of companies). It is the maximum amount of capital which a company can raise through shares i.e. shared capital can be maximum up to the authorized capital and not beyond. Due to this reason […]

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BASEL NORMS

February 20, 2013

BASEL NORMS INTRODUCTION I was having tea with my friend dinkar dogra when I got a call from adarsh sidhu that there is a speculation in the market that bank of Punjab is going to default in the near future.I got goose bumps and went to the bank to withdraw the hard-earned money.everyone from my […]

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WHY CAPITALISM IS AGAINST SUBSIDY?

February 20, 2013

WHY CAPITALISM IS AGAINST SUBSIDY? WHAT IS CAPITALISM? –Capitalism thrives on cut-throat competition and wants minimal state intervention.( capitalists want everything to be left to the market forces)          WHY CAPITALISM IS AGAINST SUBSIDY? -They want that they should be left free to use all the resources and fill their coffers with […]

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EUROPEAN UNION CRISES

February 19, 2013

EUROPEAN UNION CRISES What is European Union? -European union consists of 25 countries.                            EUROPEAN UNION CRISES – Half of the countries are poor(not as poor as Pakistan lolz) relatively (like anil kapoor is poor in comparison to amitabh bachan). Why rich countries […]

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BUDGET

February 19, 2013

BUDGET Before we understand Budget we must know about the institution of parliament, government and executive 1.WHAT IS GOVERNMENT?   –We all vote and elect leaders(members of parliament from lok sabha) -The party which gets majority in the lok sabha forms the government. -To carry out administration functions government needs finances(paisa,money or what ever you may […]

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