Tag Archives: Economy

What do you mean by Non-performing asset (NPA). Enumerate the major factors behind accumulation of non-performing assets in the Indian banking sector in recent years.

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Approach Introduce with NPAs Explain various factors causing NPAs. Suggest way forward to deal with NPA Model Answer  A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days. The higher is the amount of non-performing assets (NPAs), the weaker will be the bank’s revenue stream.

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India can learn agri-policy lessons from China Editorial 25th Oct’19 FinancialExpress

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Headline : India can learn agri-policy lessons from China Editorial 25th Oct’19 FinancialExpress Details : India and China have similar challenges in agriculture: India and China are the most populous countries in the world, having a population size of 1.35 billion and 1.39 billion, respectively, in 2018. With limited arable land [about 120 million hectare (m ha) in China, and 156 m

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An independent fiscal watchdog for Parliament Editorial 21st Sep’19 TheHindu

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Headline : An independent fiscal watchdog for Parliament Editorial 21st Sep’19 TheHindu Details : Access to all of good quality analysis on economic, fiscal or financial matters is important for democracy: For an effective democracy, it is important for our electorate and the representatives to have an independent, non-partisan source for these hard facts and evidence. This is particularly important for our Parliament,

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A road map to transforming India’s energy Editorial 30th Aug’19 HindustanTimes

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Headline : A road map to transforming India’s energy Editorial 30th Aug’19 HindustanTimes Details : India progressing: Forty years ago, India barely had a car manufacturer, was way behind in the space race, and had an insignificant IT sector. Today, India is the world’s fourth largest car manufacturer, and is set to become only the fourth country to land on the moon.

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Economy – MSME Sector :Problems,Demands, Significance, Schemes, Committees

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Headline : MSME loans: Delay in disbursal of loans to MSMEs Details : In  News: The union finance minister held a meeting with MSME representatives to devise plans for this critical sector. The MSMEs representatives highlighted problems faced by the sector, and made certain demands for the revival of the sector. She also asked industry representatives to send their response to the U K

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Why is Maharashtra witnessing another spike in Covid-19 cases?

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Why is Maharashtra witnessing another spike in Covid-19 cases? Q. What is the news? With the coronavirus number showing an increasing trend over the last two weeks, Maharashtra has reintroduced some restrictions on the assembly and movement of people. The state government has warned that it could even bring back the lockdown if it was felt necessary. Q. What is the Covid-19 situation in

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The RBI has formed a 10-member task force, headed by M Deosthalee, to suggest a roadmap for building a comprehensive Public Credit Registry (PCR) to improve market efficiency. What is a PCR and how will it impact credit culture in India?

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The RBI has formed a 10-member task force, headed by M Deosthalee, to suggest a roadmap for building a comprehensive Public Credit Registry (PCR) to improve market efficiency. What is a PCR and how will it impact credit culture in India? Approach: Introduce with what a PCR is and its objective Make a note on the current scenario of credit assessment Enumerate

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G20 summit: India presents 9-point agenda on fugitive economic offenders

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Headline : G20 summit: India presents 9-point agenda on fugitive economic offenders Details : The news Recently, Prime Minister Narendra Modi has suggested a nine-point agenda to tackle the menace of fugitive economic offenders and sought strong and active cooperation across G20 countries to deal with the menace of fugitive economic offenders The agenda was presented by Prime Minister Narendra Modi in

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India’s poor export infrastructure remains a major limitation on its export competitiveness. Discuss. Enumerate some of the steps the government of India is taking to improve our export infrastructure.

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Approach • Introduce with the need for export competitiveness • List shortcomings in export infrastructure • What steps were taken to improve export infrastructure • Conclude appropriately Model Answer : Over the last 25 years since India’s liberalisation, its foreign trade has expanded multifold. But India’s share in World Merchandise Exports over the last few years remained at around 1.7%.

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The concept of “port led development” is central to the Sagarmala vision.” What is Sagarmala initiative and how can it help in achieving the aim of port led development.

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Approach: • Introduce with India’s potential for port-led development • Explain Sagarmala initiative with its components • Explain how it will help in port led development • Conclude appropriately Model Answer : India is richly endowed with natural maritime advantages, a strategic location for key international trade routes, and navigable and potentially navigable waterways. There is great potential for port-led

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The FDI policy is being continuously revised to promote both the Greenfield and Brownfield investments but they are treated differently. Discuss along with the recent steps taken by government to boost foreign investment in India.

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Approach • Introduce with Greenfield and Brownfield investments • Briefly discuss how the policy differs slightly • Then discuss steps taken to promote foreign investment • Conclude appropriately Model Answer : Greenfield investment is the investment in new plants or investment in which a parent company or government begins a new venture by constructing new facilities, while Brownfield investment is

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The distinction between plan and non-plan expenditure in budget had created schools without teachers and hospitals without doctors. In the light of this statement, discuss major issues pertaining to plan and non-plan distinction. Approach

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The distinction between plan and non-plan expenditure in budget had created schools without teachers and hospitals without doctors. In the light of this statement, discuss major issues pertaining to plan and non-plan distinction. Approach Introduce with the abolition of the plan and non-plan classification Highlight the major issues like focus on plan expenditure, excessive union control etc. Conclude appropriately Model

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Discuss the advantages and risks of crypto-currencies like the Bitcoin.

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Discuss the advantages and risks of crypto-currencies like the Bitcoin. Approach Introduce with the concept of cryptocurrency Discuss its advantages Highlight the risks Conclude with the government’s position that they have been outlawed Cryptocurrency is an electronic or digital currency that works on a peer-to-peer basis without the need for a trusted third party such as a governmental agency, bank

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Quiz-Q31. With reference to the features of a perfectly competitive market, consider the following statements:

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Q31. With reference to the features of a perfectly competitive market, consider the following statements: 1. All firms in the market produce certain heterogeneous goods/services. 2. In such a market buyers must accept the prevailing prices but the sellers have the freedom to influence the prices. Which of the statements given above is/are correct? A. 1 only B. 2 only

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Quiz- Q20. Which of the following is/are part of the foreign exchange reserves of India?

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Q20. Which of the following is/are part of the foreign exchange reserves of India? 1. Foreign Currency Assets (FCAs) 2. Gold 3. Special Drawing Rights (SDRs) Select the correct answer using the code given below: A. 1 only B. 1 and 2 only C. 2 and 3 only D. 1, 2 and 3 Answer: D Exp: Foreign exchange reserve is

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National Population Policy 2002

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National Population Policy 2002  long term objective of achieving a stable population by 2045  To address the unmet needs for contraception, health care infrastructure, and health personnel  To provide integrated service delivery for basic reproductive and child health care.  Maternal Mortality Rate: below 100 per lakh birth.  Infant Mortality Rate: 30 per 1000 live birth.  Total

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Pandit Deendayal Upadhyay Unnat Krishi Shiksha Scheme

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It was launched to promote agricultural education. Under the scheme 100 centres are opened with a fund of Rs.5.35 crore. “Attracting and retaining youth in Agriculture (ARYA)” is a project sanctioned by the Indian Council of Agriculture (ICAR) and is being implemented at Krishi Vigyan Kendra (KVKs). The main objective of the project was to provide complete knowledge and skill on

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Discuss the positive and negative effects of globalization on farmers in India.

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M. Laxmikant Books: https://amzn.to/3qO8ZpY Approach: ● Introduce with what is globalisation ● Positives and Negative impact of globalisation on Indian agriculture ● What measures were taken to safeguard farmers ● Way forward Answer: Globalization aims at integrating national economy with that of the world. Increased free and open international trade, foreign investment, technology exchange etc. are all integral to the globalised world.

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GST- Pros and Cons of Electricity Inclusion

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Why should electricity be brought in GST 1. Multiplicity of rates Currently, there is a confusing number of electricity taxes that vary by states and across user categories (lower tax rates for consumers and high for industrial users). Taxes levied by the states thus vary from 0% to 25%. The current situation imposes large costs that seriously undermine the government’s Make

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China Myanmar Economic Corridor

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China and Myanmar have moved a step closer on negotiating the China-Myanmar economic corridor. This initiative is being given a high priority on account of the stalled Bangladesh-China-India-Myanmar (BCIM) connectivity proposal. The negotiations for the formation of the BCIM corridor have virtually been stalled after Beijing went ahead with its plans to establish the China-Pakistan economic corridor. Y- shaped corridor

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Everything about Global Entrepreneurship Summit (GES)

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Global Entrepreneurship Summit (GES) • It is the preeminent annual entrepreneurship gathering that convenes emerging entrepreneurs, investors and supporters from around the world. • It was started by U.S. government in 2010. • It serves as a vital link between governments and the private sector and convenes global participants to showcase projects, network, exchange ideas and champion new opportunities for

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National Testing Agency

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Features of National Testing Agency • The National Testing Agency (NTA) will be created as a Society registered under the Indian Society Registration Act, 1860. • It will be an autonomous and self-sustained premier testing organization to conduct entrance examinations for higher educational institutions. • The NTA will begin by conducting exams managed by the CBSE and gradually conduct other

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Any attempt by an institution to withhold information from its stakeholders should invite strict censure. Do you agree?

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No, I do not completely agree. There may be situations where information would need to be withheld for larger public interest. Such circumstances can arise when the matter concerns: i. Preserving national security e.g. it would be wrong for the media to relay live coverage of a terror attack while the operation is still in progress, as happened in Mumbai in 2008.

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FASTags:

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FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid or savings account linked to it. It is affixed on the windscreen of the vehicle and enables to drive through toll plazas, without stopping for cash transactions. The tag can be purchased from Tag issuers and if it is linked to

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Minerals of India

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Minerals Metallic  Ferrous – Iron, manganese Non Ferrous – Cu, Bauxite Non Metallic  Fuel – Coal, Oil, petroleum Others – mica, limestone, granite Iron ore  India has largest reserve in Asia Haematite and magnetite Northern Orissa – Rourkela steel plant (German collaboration) Jharkand – Jamshedpur , Bokaro steel plant (Russian collaboration) Chattisgarh – Bhilai steel plant (Russian collaboration) Western WB

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Global Entrepreneurship Summit (GES):

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Global Entrepreneurship Summit (GES): It is the preeminent annual entrepreneurship gathering that convenes emerging entrepreneurs, investors and supporters from around the world. It was started by U.S. government in 2010. It serves as a vital link between governments and the private sector, and convenes global participants to showcase projects, network, exchange ideas, and champion new opportunities for investment. Its aims

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What is ‘Swiss challenge’ approach?

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Swiss challenge method is a process of giving contracts. Any person with credentials can submit a development proposal to the government. That proposal will be made online and a second person can give suggestions to improve and beat that proposal. It is a method where third parties make offers (challenges) for a project within a designated period to avoid exaggerated

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Commodity and Exchanges

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What is a commodity? Commodities are products that can be bought, sold or traded in different kinds of markets. Commodities are the raw materials that are used to create products which are consumed in everyday life around the world, from food products in India to building new homes in Europe or to running cars in the US. There are two

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Angel Investors VS Venture Capital

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Business Angel Investors are individuals, often successful business people who are investing their own personal funds into a potentially rewarding business opportunity. Whereas Venture Capital is invested by firms or companies that use other people’s money. They raise that money by offering investors a chance to take part in a fund that is then used to buy shares in a

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Important Commitees

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N.K.Singh committee To review the FRBM Act of 2003 Ratan Watal Committee On digital payments Anil Kakodkar Committee On railway safety A.K.Bhargava Net Neutrality Madhukar Gupta committee India Pakistan Border issue Aravind Subramanian Tackle shortage of pulses in India Bibek Debroy committee Railways and privatization of railways Shekatkar committee Defense Shyam Benegal committee Film certification Shankar Acharya committee To pre

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EXIM Bank

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Export–Import Bank of India was established in 1982 under the Export-Import Bank of India Act 1981. Since its inception, Exim Bank of India has been both a catalyst and a key player in the promotion of cross border trade and investment. Over the period, it has evolved into an institution that plays a major role in partnering Indian industries, particularly

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Bitcoin

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Bitcoin is a digital currency that is not supported by any country’s government or central bank. It can be traded for services or goods with sellers who accept bitcoins as payment. Bitcoin was first  introduced in October 2008. It was invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. The system is peer-to-peer (person to person using

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Market Stabilization Bond

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MSS bonds bear an interest rate that can boost banks’ income. This incentivizes banks to participate effectively in demonetization drive. MSS as SLR bonds: MSS bonds can also be used to calculate banks’ mandatory bond holding. MSS bonds does not increase Government’s fiscal deficit. According to CRISIL, the stock of G-secs with the RBI, necessary to conduct reverse repo operations,

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Monetary Policy Committee

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MPC is headed by RBI governor, is a six-member panel, of which three members are from RBI and three are independent members selected by government. The independent members are experts in the field of economics, banking or finance. The governor, however, will not enjoy a veto power to overrule the other panel members, but will have a casting vote in

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Most Favoured Nation (MFN) status

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What is Most Favoured Nation’ (MFN) status?  The WTO as the trade-promoting body has certain key principles or philosophical themes for its working. One such principle is non-discrimination which is well scripted in Most Favored Nation (MFN) treatment. The MFN is a status or treatment given by one country to another in trade matters. It means that the recipient country

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WTO- Trade Facilitation Agreement (TFA)

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Trade Facilitation Agreement (TFA) Trade Facilitation Agreement (TFA) envisages faster clearances and reduction of red tapism at the borders and would thereby help in the ease of doing business. TFA is bound to change the Indian trade and would bring more transparency in trade process. after TFA ratification, the world wide best trade practices would be shared among the member

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United Nations Conference on Trade and Development (UNCTAD)

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The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 as a permanent intergovernmental body. UNCTAD is the principal organ of the United Nations General Assembly dealing with trade, investment, and development issues.  The organization’s goals are to: “maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into

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India’s first international stock exchange – India INX – GIFT, Gujarat

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India’s first international exchange–India INX– was recently inaugurated by PM at International Financial Services Centre (IFSC) in Gujarat International Financial Tech City (GIFT) located in Gandhinagar. India International Exchange (INX), the wholly-owned subsidiary of the Bombay Stock Exchange (BSE), through its global bourse, will start trading initially in equity derivatives, currency derivatives, commodity derivatives including Index and Stocks. Subsequently, depository receipts and bonds

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Universal basic income

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Core concept : It was proposed by left liberal political philosopher Philippe van Pari in his book real freedom for all. According to him, basis for universal basic income is the fair distribution of real freedom to pursue the realisation of ones conception of the good life. Core of the concept of basic income is absence of means test(income of

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G-20

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G20 was initiated in 1999 and consists of Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union (EU). Before the outbreak of global financial crisis in 2008, G20 meetings of Finance Ministers and Central Bank Governors were held

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Global Innovation Index (GII)

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The Global Innovation Index (GII) aims to capture the multi-dimensional facets of innovation and provide the tools that can assist in tailoring policies to promote long-term output growth, improved productivity, and job growth. The GII helps to create an environment in which innovation factors are continually evaluated. The Global Innovation Index 2016 (GII), in its 9th edition this year, is

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Islamic Development Bank

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The Islamic Development Bank is an international financial institution established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah in December 1973, and the Bank was formally opened on 20 October 1975. The purpose of the Bank is to foster the economic development and social progress of member countries

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Cashless Payment : Bharat QR

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India has reached a new milestone in cashless transaction by launching BharatQR, the world’s first interoperable payment acceptance solution. This is the second big ticket initiative from the Centre, after BHIM, towards pushing digital transactions.    What is BharatQR code? BharatQR code is an interoperable payment acceptance solution. Even if the merchant and customer are on different payment platforms, BharatQR will enable

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National Agriculture Market: NAM

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National Agriculture Market  PM Modi recently launched an electronic mandi to help farmers sell their produce online and do away with the problems many farmers face in agricultural markets. National Agriculture Market (NAM) has been incorporated by the Department of Agriculture & Cooperation. This e-platform aims to provide more options to farmers to sell their produce and is part of implementation of the

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Index of Industrial Production (IIP)

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The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP). They are: Coal (weight: 4.38 %) Crude Oil(weight: 5.22 %) The Natural Gas(weight: 1.71 %) Petroleum Refinery (weight: 5.94%) Fertilizer (weight: 1.25%) Steel (weight: 6.68%) Cement (weight: 2.41%) Electricity generation (weight: 10.32%) - max weightage IIP IIP measures the quantum

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What is Wholesale Price Index (WPI) ?

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Wholesale Price Index (WPI) WPI measures the change in price level at wholesale market. WPI – consists of 676 commodities (services are not included in WPI in India). It is measured on year-on-year basis i.e., rate of change in price level in a given month vis a vis corresponding month of last year. This is also known as point to point

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What is Mission Indradhanush?

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What is Mission Indradhanush? Mission Indradhanush aimed to revamp the functioning of public sector banks so that PSBs can compete with the Private Sector Banks. The mission is a brainchild of PJ Nayak committee. It is launched by Ministry of Finance under the Department of Financial Services. The mission is regarded as one of the big steps after the nationalisation

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Small Finance Banks

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The small finance bank will primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganized sector entities. What they can do: Take small deposits and disburse loans. Distribute mutual funds, insurance products and other simple third-party financial products. Lend 75%

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India’s First Coastal Corridor

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Vishakhapatnam – Chennai Costal Corridor The Visakhapatnam-Chennai Industrial Corridor section of the East Coast Economic Corridor, connecting four economic hubs and nine industrial clusters, will mark the first industrial corridor developed along India’s coast. The East Coast Economic Corridor will ultimately extend from Kolkata to Tuticorin The Indian government is keen to encourage manufacturing, including through its “Make in India”

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Economy Curves- Very Important

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Philips curve shows the tradeoff between unemployment and inflation. It indicates that to reduce unemployment, an economy has to adjust with higher level of inflation. Kuznet curve explain the relationship between growth and equality. During the initial stages of development inequality increases with economic growth. Laffer curve shows the relationship between tax revenue and tax rate. Its message is that

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About Ease of Doing Business Index

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Word Bank releases Doing Business reports and it review business regulations and their enforcement across countries. It was introduced in 2004. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics, each

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Viability Gap Funding

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Viability Gap Funding There are many projects with high economic returns, but the financial returns may not be adequate for a profit-seeking investor. For instance, a rural road connecting several villages to the nearby town. This would yield huge economic benefits by integrating these villages with the market economy, but because of low incomes it may not be possible to

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Liquidity trap

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The liquidity trap is the situation in which prevailing interest rates are low and savings rates are high, making monetary policy ineffective. In a liquidity trap, consumers choose to avoid bonds and keep their funds in savings, because of the prevailing belief that interest rates will soon rise. This reduces the Bond yield and makes them less attractive. Liquidity trap

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Differentiated and Payment Banks

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Differentiated Banks This system of banks is different from universal banks as they are mandated to serve niche interests and can offer limited products. Payment banks and small banks are part of differentiated banking. The purpose of these banks is to promote financial inclusion. Nachiket Mor committee in 2014 recommended the establishment of such institutions. Payment Banks Objective of payments banks

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Difference between Disinvestment and privatization

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Privatization involves transforming the ownership of a public sector business to the private sector known as a ‘strategic buyer’. In privatization, full ownership is transferred to the strategic partner. In disinvestment, the same transformation process happens while retaining 26% or in some cases 51% percent of share right (i.e. the voting power) with the public sector organization. In disinvestment 26%

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What is Special Economic Zone? #upsc #ias

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Special Economic Zone (SEZ) Special Economic Zone (SEZ) is a special geographical region which has completely different laws when compared to other regions. SEZ’s enjoys tax breaks, simplified procedures, less regulations and restrictions, exemption from customs and duties, all of which is done to Generate additional Economic activity Promote exports of goods and services Promote Investment from domestic and foreign sources

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National Investment and Infrastructure Fund (NIIF)

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National Investment and Infrastructure Fund It is a sovereign wealth fund created by the Government of India for enhancing infrastructure financing in the country. NIIF was proposed to be set up as a Trust, to raise debt to invest in the equity of infrastructure finance companies such as Indian Rail Finance Corporation (IRFC) and National Housing Bank (NHB). The idea is

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What is Crowdfunding

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What is Crowdfunding Crowdfunding is asking a crowd of people to donate a defined amount of money for a specific cause or project in exchange for various rewards. It is the practice of pooling in of resources by numerous people, thus the term ‘crowd’, to fund prospective projects. It is an alternative finance system where funds are raised through mediums

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Exclusive Economic Zone

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Introduction India has a 7,517-km coastline, which is dotted with 12 major ports and 187 minor or intermediate ports. India’s territorial waters end at 12 nautical miles while exclusive economic zone stretches to 200 nautical miles from the coast. EEZ: Exclusive Economic Zone An Exclusive Economic Zone (EEZ) is a concept adopted at the Third United Nations Conference on the Law

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Types of Money

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Fiat money is a currency established as money by government regulation or law. It differs from commodity money and representative money. Demonetised currency are not fiat money as they are not legal tender Commodity money is created from a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange, while representative money simply represents a claim

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Revolutions in Economy

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Black Revolution – Petroleum Production Blue Revolution – Fish Production Brown Revolution – Leather/non-conventional(India)/Cocoa production Golden Fibre Revolution – Jute Production Golden Revolution – Fruits/Overall Horticulture development/Honey Production Green Revolution – Food grains Grey Revolution – Fertilizer Pink Revolution – Meat Production – some also refer it to prawns/onion/pharmaceuticals production Round Revolution – Potato Silver Fiber Revolution – Cotton Silver Revolution – Egg/Poultry Production White Revolution (In India: Operation Flood) – Milk/Dairy production Yellow Revolution – Oil Seeds production

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Veblen goods

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A good for which demand increases when its price increases, and vice versa. Luxury goods like diamonds, whose appeal depends on their exorbitant price, are an example. It is named after American economist Thorstein Veblen. Veblen goods are considered exceptions to the law of demand, which states that the demand for a good must decrease as its price increases, and

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Economic Corridors in India

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​The corridors include :- Delhi-Mumbai Industrial Corridor (DMIC) Amritsar-Kolkata Industrial Corridor (AKIC) Bengaluru- Mumbai Economic Corridor (BMEC) Chennai-Bengaluru Industrial Corridor (CBIC) and  Visakhapatnam-Chennai Industrial Corridor (VCIC or the East Coast Economic Corridor) Visakhapatnam-Chennai Coastal Industrial Corridor AKIC covers Punjab, Haryana, Uttar Pradesh, Uttarakhand, Bihar, Jharkhand and West Bengal, while DMIC spans Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra.

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UPSC CSE Mains General Studies Paper – III

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CSE Mains General Studies Paper – III (Technology, Economic Development, Bio diversity, Environment, Security and Disaster Management) a. Economic Development Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Inclusive growth and issues arising from it. Government Budgeting. b. Agriculture  Major crops cropping patterns in various parts of the country, different types of irrigation and irrigation

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