Economy

Bad bank or PARA (Public Sector Asset Rehabilitation Agency) was proposed in Economic Survey 2016-17. Bad Bank is an institution which specializes in loan resolution process, so that banking system is free to focus on core banking solutions. Need for PARA According to Economic Survey, need for PARA arises because: Early resolution so that Funds for creation … Read more

Causes of Regional Imbalances in India: 1. Historical factors: British regime 2. Geographical factors : Natural factors 3. Failure of planning: Although balanced growth has been accepted as one of the major objectives of economic planning in India, since the second plan on wards, but it did not make much headway achieving this object. 4. … Read more

The Revenue Budget comprises revenue receipts and expenditure met from these revenues. The revenue receipts include both tax revenue (like income tax, excise duty) and non-tax revenue (like interest receipts, profits). Capital Budget consists of capital receipts {like borrowing, disinvestment) and long period capital expenditure (creation of assets, investment). Capital receipts are receipts of the … Read more

The Japan International Cooperation Agency (JICA) which undertook the study on  the feasibility of this prestigious project, submitted its report in July 2015. The project  was approved by the Cabinet Committee on Economic Affairs, in December 2015, to  be implemented with Japanese technical and financial assistance. The memorandum of  understanding for cooperation between India and … Read more

Effect of Black Money on Indian Economy Black money is a socioeconomic evil. The existence of rapidly growing black money in our economy has grave and disastrous consequences. The major effects of black money are discussed below: Dual Economy The increase in the amount of black money in India over a period of time lead to the … Read more

Pradhan Mantri Ujjwala Yojana (PMUY) aims to safeguard the health of women & children by providing them with a clean cooking fuel – LPG, so that they don’t have to compromise their health in smoky kitchens or wander in unsafe areas collecting firewood. Pradhan Mantri Ujjwala Yojana was launched by Hon’ble Prime Minister Shri Narendra … Read more

Recapitalisation plan is a mechanism to deal with the problems of NPA in the financial institutions. It is one of the four R’s to address the issue of NPA’s.  In Oct,17 Centre has announced a 2.11 lakh crore recapitalisation plan for the public sector banks over the next two years. The recapitalisation plan is a … Read more

The National Intellectual Property Rights (IPR) Policy 2016 was adopted on 12.5.2016 as a vision document to guide future development of IPRs in the country. This has led to the following achievements:- Strengthening of Institutional Mechanism Clearing Backlog/ Reducing Pendency Increase in Filings of Patents IP Process Re-engineering Creating IPR Awareness vi.        IPRs in School … Read more

Reforms required: Strengthen GST council Independent GST council secretariat Inclusion of Petroleum Products, Electricity, Real estate in GST Big data analysis of the data. Tax research unit on Indirect Tax.

Foreign direct investment (FDI) is an investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company.   Concerns with FDI:   FDI has … Read more