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Highlights of the Indian Economy National Statistical Office (NSO) Report According to the Press Note released by the National Statistical Office (NSO) on 29th February, 2024 Ministry According to the Press Note released by the National t
by ExamGuru
Economy It is the state of a country or region in terms of the production and consumption of goods and services and the supply of money. Types of Economy Depending upon the dominant view of the time in a particular country, different for
Main characteristics and various aspects of the Indian Economy are: Key Features and Aspects of the Indian Economy 1. Agrarian Economy Even after seven decades of independence, agriculture plays a vital role in India’s econom
Introduction Economic Planning is the process by which the limited natural resources are used skillfully to achieve the desired goals. The concept of Economic Planning in India is derived from Russia (the then USSR). Planning in India deriv
Fiscal System It refers to the management of revenue and capital expenditure finances by the state. Hence, the fiscal system includes budgetary activities of the government, that is, revenue raising, borrowing, and spe
India started her quest for industrial development after independence in 1947. The Industrial Policy Resolution of 1948 marked the beginning of the evolution of the Indian Industrial Policy. In the Industrial Policy of 1948, the importance of
India’s foreign trade underwent a major transformation after independence. Shifting away from externally controlled patterns, the country began focusing on building its industrial base and reducing reliance on imports. This marked t
In the production of vegetables, India is on the second* position (after China). India is on the first position in the production of milk. The highest producer of milk in India is Uttar Pradesh* India is the third* largest producer of Tobac
Accrued interest: The interest due on a bond since the last interest payment was made. The buyer of the bond pays the market price plus accrued interest. Acquisition: The acquiring of control of one corporation by another. In 'unfriendly'
The GDP deflator is also called implicit price deflator. Finance Minister Nirmala Sitharaman announced setting up of seven mega textile parks across the country over three years, in her Budget 2021- 2022 speech. The National Rail Plan announce
Agriculture The Indiana agriculture sector has been growing at an average annual growth rate of 4.6% during the last six years. It grew by 3.0% in 2021-22 compared to 3.3% in 2020-21. In recent years, India has also rapidly emerged as the
National income is the measurement of the flow of services and goods in an economic system. Comparison between National Income and National Wealth The national wealth is the measurement of present assets available at a given time, while the
Unemployment in India In common parlance, anybody who is not gainfully employed in any productive activity is called unemployed. However, it can be of two kinds: Voluntary unemployed Involuntary unemployed Here, we are
Schemes and Plans of Union and State Governments PAHAL Scheme The PAHAL (DBTL) scheme was launched on 1st June 2013 and covered 291 districts. More than 60% of LPG customers in the country have joined the ambitious PAHAL scheme for receiving ca
Overview New Economic Policy is related to economic reforms. It aims to bring about reforms in production patterns, to obtain new technology, and to use full capacity expeditiously and in toto. History: The New Economic Policy was
Indian Financial System There are two parts of the Indian Financial System: the first demand side, and the second supply side. The representative of the demand side can be Individual investors, Industrial and Business Companies,
Ranking of India in Different Indexes (As on 03.05.2024) Edelman Trust Barometer-2024 In the Edelman Trust Barometer-2024, China ranked 1st and India second. Transparency International India (TII) - Global Corruption
The Budget of the Government of India, for any year, gives a complete picture of the estimated receipts and expenditures of the Government for that year based on the budget figures of the two previous years. Figures in Every Budget Every budget
Finance The Ministry of Finance is responsible for the administration of the finances of the government. It is concerned with all economic and financial matters affecting the country as a whole, including the mobilisation of resource
Gender and Child Budgeting Indian Econom IBE 2023-24, a total budget provision of 8804421 crore has been provided for 100% women-specific programmes and 1.35.175.54 стогe for schemes where at least 30% allocation is made for women-specific
Reserve Bank of India and Banking History Establishment and Nationalization of RBI The Reserve Bank of India was established on 1st April, 1935, and it was nationalized on 1st January, 1949. Currency Issuance The
Introduction Public Sector Banks (PSBs) are a major type of bank in India, where a majority stake (i.e., more than 50%) is held by the government. In April 2019, Vijaya Bank and Dena Bank were merged with Bank of Baroda. On 30 August 201
Scheduled and Non-Scheduled Banks Scheduled Banks The scheduled banks are those that are entered in the second schedule of the RBI Act, 1934. These banks have a paid-up capital and reserves of an aggregate value of not less than Rs. 5
International Fund for Agricultural Development (IFAD) International Fund for Agricultural Development (IFAD) was set up in 1977 as the 13th specialized agency of the United Nations. It is dedicated to eradicating poverty. 176 countries ar
Important Banking Terminology Bank Rate Bank Rate is the rate at which the central bank of the country (e.g., RBI in India) allows finance to commercial banks. Bank Rate is a tool that the central bank uses for short-term purpose
Currency and Coinage Security Printing and Minting Corporation of India Ltd. (SPMCIL) Security Printing and Minting Corporation of India Ltd. (SPMCIL) is the only PSU under the Department of Economic Affairs. It was formed af
Tax System in India Meaning of Tax A compulsory contribution given by a citizen or organisation to the Government is called Tax, which is used for meeting expenses on welfare work. Levels of Tax Imposing and Collecting Tax
Industrial Development in India Beginning of Industrial Development India started its quest for industrial development after independence in 1947. The Industrial Policy Resolution of 1948 marked the beginning of the evolu
This new policy deregulates the industrial economy in a substantial manner. Major Features of NIP, 1991 Abolition of Industrial Licensing In a major move to liberalise the economy, the new industrial policy abolished
Public Sector In terms of ownership, Public Sector Enterprise (PSE) comprises all undertakings that are owned by the government or the public, whereas the private sector comprises enterprises that are owned by private persons. Mai
Index of Industrial Production (IIP) – INDIA 2024 According to INDIA 2024, the Index of Industrial Production (IIP) measures the performance of the industrial production in manufacturing, mining, and electricity sectors and also in use-b
Electronics Industry World over, electronics is recognised as a 'meta-resource'. Electronics industry is the world's largest and fastest growing industry and is increasingly finding applications in all sectors of the economy. With i
Pillars of India's PM Gati Shakti Another milestone achieved, which has heralded a new chapter in governance, is the PM Gati Shakti, an integrated plan ensuring multi-modal and seamless connectivity for people, goods, and services. Cove
