Economy

The Finance Commission is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves. Two distinctive features of the Commission’s work involve redressing the vertical imbalances between the taxation powers and expenditure responsibilities of … Read more

The decline in agriculture growth is attributed to two consecutive drought years; as 60% of Indian agriculture is rain-fed. A target of 4% growth has been envisaged for agriculture and allied sectors for twelfth plan period, however, the growth was (-) 0.2 per cent in 2014-15 & 1.1% in 2015-16. The depressing situation of agriculture … Read more

Commerce ministry has released a consolidated policy for FDI  in 2017. This time they have included start ups in the FDI policy also. The major features of FDI are as follows: With the dilution of FIPB, the power for clearance has been delegated to the administrative departments. The proposal relating to the banking, mining, defence, … Read more

The  major reasons are: Rise in Prices and galloping inflation. It surged from 6.7% to near about 16% Increase in the Fiscal deficit. Increase in non -development expenditure. Adverse Balance of payment and pressure on Balance of Payment. Iran-Kuwait war led to increase in Petrol price and hence pressure on Indian Imports. Adopted approach of … Read more

Following are some of the important functional factors responsible for adoption of decentralised planning in the present context in India: Considering the huge size and proportion of rural population in India, it is felt that proper linkages must be established between dispersed small villages and also between such villages and adjacent small towns by developing … Read more

Discrimination against women and girls is a pervasive and long-running phenomenon that characterises Indian society at every level.  India’s progress towards gender equality, measured by its position on rankings such as the Gender Development Index has been disappointing, despite fairly rapid rates of economic growth. In the past decade, while Indian GDP has grown by … Read more

The major objective of PMKSY is to achieve convergence of investments in irrigation at the field level, expand cultivable area under assured irrigation, improve on-farm water use efficiency to reduce wastage of water, enhance the adoption of precision-irrigation and other water saving technologies (More crop per drop), enhance recharge of aquifers and introduce sustainable water … Read more

FRBM is fiscal responsibility and budget management act is an act of parliament of India to institutionalise financial discipline, reduce India’s fiscal deficit , improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget. The main purpose of the budget was to eliminate the revenue deficit and to … Read more

The PM SVANidhi scheme was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020. It aims to provide affordable working capital loans to street vendors to resume their livelihoods that have been affected due to the coronavirus lockdown. It targets over 50 lakh street vendors who would be eligible to avail … Read more

Bank rate:  Bank rate is the rate at which RBI lends long term to commercial banks. Bank rate is a tool which RBI uses for managing money supply.   Merchant discount rate: It is a charge to a merchant by a bank for accepting payment from their customers in credit and debit cards every time … Read more