One Point Solution for JPSC Preparation
The scheme “Upgrading the Skills and Training in Traditional Arts/Crafts for Development (USTTAD) was launched in May, 2015. “Shilp Utsav” component of the scheme has been implemented through ”National Minorities Development and Finance Corporation (NMDFC) to provide support to minority craftsmen/ artisans for marketing their products. The Ministry has also engaged Knowledge Partners viz. National … Read more
The National Sample Survey Organization (NSSO), since its inception in 1950, does the measurement of employment/unemployment in India. The National Sample Survey Organization (NSSO) provides three different estimates of employment and unemployment based on different approaches used to classify an individual’s activity status. These are : Usual status approach with a reference period of 365 … Read more
Financial inclusion is the pursuit of making financial services accessible at affordable costs to all individuals and businesses, regardless of net worth and size, respectively. Financial inclusion strives to address and proffer solutions to the constraints that exclude people from participating in the financial sector. It is also called inclusive financing. Government has launched various … Read more
: To provide an assured income support to the small and marginal farmers, Government is launching a historic programme namely “Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)”. Under this programme, vulnerable landholding farmer families, having cultivable land upto 2 hectares, will be provided direct income support at the rate of Rs 6,000 per year. This income … Read more
RBI thus has certain quantitative and qualitative tools through which it manages liquidity and they are as follows: Cash Reserve Ratio (CRR) Every bank has to retain a certain percentage of its demands and time liabilities in cash with the RBI which can be raised by the RBI to drain out excess liquidity or reduced … Read more
The fundamental principles that will guide both the education system at large, as well as the individual institutions within it are: • recognizing, identifying, and fostering the unique capabilities of each student, by sensitizing teachers as well as parents to promote each student’s holistic development in both academic and non-academic spheres; • according the highest … Read more
It will lead to sustainable mining sector development in future. It will address the issues of project affected persons especially those residing in tribal areas. The new changes include the focus on make in India initiative and Gender sensitivity in terms of the vision. It also focuses on use coastal waterways and inland shipping for … Read more
Establishment of Some More Agencies Apart from Food Corporation of India, some more agencies should be set up for ensuring rational prices of other agricultural products and also for procuring other agricultural products. In the meantime the government has already set up Cotton Corporation and Jute Corporation, which needs to be further strengthened. Extension of … Read more
The development of small scale industrial sector has been one of the major planks of India?s economic development strategy since independence. India accorded high priority to this sector from the very beginning and pursued support policies to make these enterprises viable and vibrant. Despite numerous protection and policy measures for the past so many years … Read more
The Indian textile industry has a significant presence in the economic life of our country. It is the second largest textile industry in the world after China. The textile industry contributes about 14% to the country’s industrial output and about 17% to export earnings. After agriculture, this industry is the second largest employer in India … Read more
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is … Read more
Reform strategies include Alternative financing (user-fees, health insurance, community financing, private sector investment); Institutional management (autonomy to hospitals, monitoring and management by local government agencies, contracting); Public sector reforms (civil service reforms, capacity building, productivity improvement); and Collaboration with the private sector (public/private partnerships, joint ventures).
Prime Minister Narendra Modi launches Garib Kalyan Rojgar Abhiyaan on 20th June 2020 to boost employment and livelihood opportunities for migrant workers returning to villages, in the wake of COVID-19 outbreak Abhiyaan focuses on durable rural infrastructure and providing modern facilities like internet in the villages Skill Mapping of the rural migrant labour being done … Read more
Featuring the new Global Competitiveness Index, the Report assesses the competitiveness landscape of 140 economies, providing unique insight into the drivers of economic growth in the era of the Fourth Industrial Revolution. Current position of india The country’s favourable demographic has earned it a rank of 58 among 140 countries in the World Economic Forum’s … Read more
Budget is the annual financial statement of income and expenditure of government. The Constitution of India has a provision (Art. 112) for such a document called Annual Financial Statement to be presented in the Parliament before the commencement of every new fiscal year—popular as the Union Budget. The budget is prepared by the Budget Division … Read more
The Bibek Debroy Committee is a high level committee for “Mobilization of Resources for Major Railway Projects and Restructuring of Railway Ministry and railway board. It gave various suggestions to address the concerns. Some of them are as follows: Transition to commercial accounting as it is next to impossible to find out the profit with the … Read more
Major reasons are: Low capital investment in infrastructure. Rising NPA after financial crisis and Twin balance sheet problem. Opening up of economy in 1991 had make us vulnerable as manufacturing country. We did capitalise on service sector. Labour laws skewed in favour of non-setting up of manufacturing units. Low investment in Research and development sector. … Read more
Medium of Exchange The only alternative to using money is to go back to the barter system. However, as a system of exchange the barter system would be highly impracticable today. For example, if the baker who supplied the green-grocer with bread had to take payment in onions and carrots, he may either not like … Read more
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control. Foreign direct investment (FDI) in India is a major monetary source for … Read more
National Statistical Office (NSO) released the first advance estimates of the national income that projected growth in India’s GDP at market prices for 2019-20 at 4.98% in “real” terms, the lowest since the 3.89% in the global financial crisis year of 2008-09. But even more significant was the estimated growth of 7.53% in “nominal” terms, which … Read more
Wealth creation is the enhancement of assets, efficiency in economy and overall value addition to GDP and to the all sectors of economy. Wealth creation helps in improving the standard of living by improving Personal income. It also lead to more taxes, employment generation. In India wealth creation is coterminous with the opening up of … Read more
The Indian agricultural system was plagued by ills of absentee landlordism, tenancy. Land reform was thereforeneeded to break the shackles of zamindari systems prevalent since British raj. Farmers were made owners of theirland after which they worked wholeheartedly on their farms. Significance of Land reforms in India: Land ceiling to disburse surplus land amongst small … Read more
Masala bonds are bonds issued outside India but denominated in Indian Rupees, rather than the local currency The term was used by the International Finance Corporation (IFC) to evoke the culture and cuisine of India Unlike dollar bonds, where the borrower takes the currency risk, masala bond makes the investors bear the risk The first … Read more
Pollution: Conventional tanning process leads to environmental pollution e.g. Liquid effluent from light leather processing contains organic matter, chromium, sulphide, and solid waste. Raw material: Economic Survey – 2016-17 pointed out non- availability of cattle for slaughter is an impediment for raw material supplier. Lack of warehousing support: from the government results into huge loss … Read more
P2P lending is the popular type of crowd funding, whereby an internet platform collects small amounts of funds from individuals in a crowd to finance collectively a larger loan to individuals or businesses. Websites that facilitate peer-to-peer lending have greatly increased its adoption as an alternative method of financing.P2P lending is also known as social … Read more
Advantages of formalization Increased tax revenues for the government due to better reporting under taxation laws Coverage of population under social protection plans, saving from financial distress during difficult times Increase workers’ welfare and the opportunities for decent jobs Reduce unfair competition between formal and informal enterprises arising from tax or regulatory arbitrage Downsides of … Read more
Inverted duty structure is a condition in which final good is taxed lower on its import as compared to the intermediate good used in the making of finished good. The economic survey has pointed out that Inverted dusty structure has affected our industries a lot. Major effect of inverted duty structure: Affect domestic … Read more
Crowding out is an economic concept that describes a situation where government spending and borrowing reduces overall private sector consumption and investment. Crowding out can be caused by an expansionary fiscal policy financed by increased taxes, borrowing or both. Crowding out can refer to when government borrowing absorbs all the available lending capacity in the … Read more
A Development Financial institution (DFI) is defined as “an institution endorsed or supported by Government of india primarily to provide development/Project finance to one or more sectors or sub-sectors of the economy. the institution differentiates itself by a thoughtful balance between commercial norms of operation, as adopted by any financial institution like commercial bank and … Read more
Government: The Indian Government utilizes numerous techniques to ascertain how people areresponding to government action, as well as ideas for policy augmentation. Healthcare: Big data analytics plays a vital role in improving services and tackling some of theforemost challenges in the healthcare sector, especially in terms of patient profile analysis,genomic analysis, public health monitoring, diagnosis … Read more
To promote economic development activities of Safai Karamcharis and their dependents; To promote self-employment ventures for the benefit and /or rehabilitation of Safai Karamcharis and their dependents. To assist, through the State Scheduled Castes Development/finance corporation or any other Channelizing Agency designated by the State Government or Union Territory Administration and subject to the … Read more
The Central Government has set up a Board for Industrial and Financial Reconstruction (BIFR) with effect from 12 January 1987 in pursuance of enactment of the Sick Industrial Companies (Special Provision) Act, 1985. This is a major step for intervening at an early stage and detecting, preventing, as well as taking ameliorative, remedial and such … Read more
Twelve cities namely Amaravati (Andhra Pradesh), Gaya(Bihar), Dwaraka(Gujarat), Amritsar(Punjab), Ajmer(Rajasthan), Kanchipuram(Tamil Nadu), Vellankani(Tamil Nadu), Puri(Odisha), Varanasi(Uttar Prasesh), Mathura(Uttar Pradesh), Kedarnath (Uttarakhand) and Kamakhya (Assam) have been identified for development under Pilgrimage Rejuvenation and Spirituality Augmentation Drive (PRASAD) by the Ministry of Tourism. The objective of schemes are as follows: To drive a national mission for … Read more
The Nirvik scheme announced by the Union Government would give a fillip to export lending and insurance cover for export credit. The scheme aims to ease the lending process and enhance loanavailability for exporters.Under the scheme,the insurance cover guaranteed will cover up to 90% of the principaland interest. The insurance cover will include both pre … Read more
With an aim to create a $400-billion electronicsmanufacturing industry & generate 1 cr jobs by2025, the Ministry of Electronics and InformationTechnology (MeitY) has come out with the draft‘National Policy on Electronics 2018’ (NPE 2018). Initiatives taken for Electronic System Design &Manufacturing (ESDM) Sector in India Electronics Manufacturing Clusters: To overcome disadvantages due toinfrastructure, EMC was … Read more
Non-Tax Revenue: Interest Receipts: This largest non-tax source of Central Government’s revenue receipts is the interest it earns mainly on the loans it has advanced to State Governments, to financial and industrial enterprises in the public sector. Surplus Profits of the Reserve Bank of India (RBI): The surplus profits of the RBI is also a … Read more
Effects: Negative: All major industries getting affected such as Hospitality, tourism, Aviation will be directly impacted because of low demand. Gig economy affected mostly and it will lead to loss of Jobs and unemployment rate will increase. Export Industries will show loss in the forthcoming period due to reduction in the demand of export goods. … Read more
. Foreign Direct Investment in organized retail is yet another area shrouded in controversy. What is organized retail? Let us define retail first, it is household requirement of the people comprising of food and grocery, clothing, convenience, consumer goods, etc. Secondly, organized retailing is selling of these household commonly used goods to the people directly, … Read more
Bharatmala is an ambitious project to improve the road infrastructure in the country. It is an umbrella project under the Ministry of road transport and highways. It will subsume the unfinished project under National Highway development programme. Under the plan the government intends to develop 83,677 km of highways and roads at an investment … Read more
World Food Programme It is the food-assistance branch of the United Nations and the world’s largest humanitarian organization addressing hunger and promoting food security. It was formally established in 1963 by the FAO and the United Nations General Assembly. Head Quartered at Rome. The operations are funded by voluntary donations from world governments, corporations and … Read more
Ease of doing business is an index published by the World Bank. It is an aggregate figure that includes different parameters which define the ease of doing business in a country. It is computed by aggregating the distance to frontier scores of different economies. The distance to frontier score uses the ‘regulatory best practices’ for doing … Read more
The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding borrowing. Current account deficit is when country’s export of goods, services and transfers are lesser than its imports of goods, services and transfers. Impacts of Fiscal deficit: If unchecked it will lead to crowding out effect, manipulation of … Read more
SFIO stands for serious frauds investigation office. It is a investigation agency which is under the jurisdiction of ministry of corporate affairs. The mandate of SFIO is as under: The SFIO is involved in major fraud probes and is the co-ordinating agency with the Income Tax Department and the Central Bureau of Investigation. It is … Read more
Demand Pull Inflation: The term demand-pull inflation usually describes a widespread phenomenon. That is, when consumer demand outpaces the available supply of many types of consumer goods, demand-pull inflation sets in, forcing an overall increase in the cost of living. When demand surpasses supply, higher prices are the result. This is demand-pull inflation. A low … Read more
Contract farming is agricultural production carried out according to an agreement between farmers and a buyer, which places conditions on the production and marketing of the commodity. Contract farming (CF) is defined as forward agreements specifying the obligations of farmers and buyers as partners in business. Legally, farming contracts entail the sellers’ (farmers’) obligation to … Read more
Objective: Government has launched the Pradhan Mantri Kisan Maan DhanYojana (PM-KMY) on 12.9.2019 with a view to provide social security to Small and Marginal Farmers in their old age when they have no means of livelihood and minimal or no savings to take care of their expenses. Benefits: Under this scheme, a minimum fixed pension … Read more
Aviation sector is one of the promising sector in India. This sector faced a growth rate of 20% per annum in passenger traffic. As per IATA, India will become the 3rd largest aviation market in the world interms of passenger by 2026. Above data clearly states that aviation sector is not under stressed. The opportunities … Read more
The Atal Innovation Mission (AIM) is a flagship initiative set up by the NITI Aayog to promote innovation and entrepreneurship across the length and breadth of the country, based on a detailed study and deliberations on innovation and entrepreneurial needs of India in the years ahead. AIM is also envisaged as an umbrella innovation organization … Read more
GDP includes the final value of all goods and services. It is a benchmark tool which is used to gauge the direction and overall wealth of the economy. For example India is 6th largest economy but it is one of the poorest country more than 22% of the people are living in abject poverty. The … Read more
Parallel economy, based on the black money or unaccounted money, is a big menace to the Indian economy. It is also a cause of big loss in the tax-revenues for the government. We can define black economy as the money that is generated by activities that are kept secret, in the sense that these are … Read more