The Doing Business project by the World Bank provides objective measures of business regulations for local firms in 190 economies. India, recently, has been performing quite well of the Ease of Doing Business Rankings. India now ranks 77 among 190 economies (2019). What is Ease of Doing Business Rank? The …
Do you know that Central Government Schemes are classified into Core of the Core Schemes, Core Schemes, and Major Central Sector Schemes in Union Budget 2018? Centrally Sponsored Schemes vs Central Sector Schemes Actually, the two major classifications of Central Government Schemes are Centrally Sponsored Schemes (CSS) and Central Center …
Through social media and various other platforms, you might have heard the word ‘crowdfunding’. It is one of the emerging and innovative ideas which is boomed after the spread of the internet. In this article, we shall see what is ‘crowdfunding’, its benefits, concerns, and the way forward. What is Crowdfunding? …
Just like the Economic Survey 2016 which had 8 interesting facts, Economic Survey 2017 too has brought us new facts. The Economic Survey 2017-18 has relied upon analysis of the new data to highlight ten new economic facts, which is discussed below. Fact 1: Large increase in registered indirect as …
Energy efficiency involves efficient utilization of energy resources. This is necessary for sustainable development. Energy efficiency increases productivity, and significantly reduce Green House Gas emissions, solid waste production and thermal pollution. Initiatives to Promote Energy Conservation and Energy Efficiency In this article, we discuss a few initiatives for Energy efficiency and Energy conservation …
Bullet Trains in India: In September 2017, Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe laid the foundation stone of the ambitious bullet train project – connecting Mumbai with Ahmadabad. There are arguments for and against adopting bullet trains in India. Does India really need bullet trains? Let’s …
You might have heard of the term Monetary Policy in Economy class. Recently there were many changes in the way Monetary Policy of India is formed – with the introduction of Monetary Policy Framework (MPF), Monetary Policy Committee (MPC), and Monetary Policy Process (MPP). Why should a country need a monetary policy? …
This post is a compilation of the names of 73 major Centrally Sponsored Schemes and Central Sector Schemes as mentioned in the Union Budget 2017. Update: To learn the Centrally Sponsored Schemes and Central Sector Schemes as mentioned in the Union Budget 2018, refer this post. Scheme Expenditure: Centrally Sponsored Schemes …
The National Commission on Farmers (NCF) was constituted on November 18, 2004, by the Government of India. The commission was formed under the chairmanship of Professor M.S. Swaminathan. From December 2004 to October 2006, it has submitted five reports. Composition of the National Commission on Farmers The composition of the …
Trade is of great importance to most nations in the modern world. Trade without barriers – free trade – is promoted by institutions like World Trade Organisation (WTO). In this background, as an emerging super power, India’s Free Trade Agreements deserve special attention. In this article, let us analyse some …
The term ‘Gig Economy’ is often in news these days. The trend toward a gig economy has begun. Why is it so controversial? Let’s see. What is a Gig? A gig is a temporary contract job. It denotes a short-term contract or a freelance work as opposed to a permanent …
India is an agrarian country with around 70% of its people depending directly or indirectly upon agriculture. But farmers’ suicides in India is worrying. As per the Central Government despite a multi-pronged approach to improving income and social security of farmers, over 12,000 suicides were reported in the agricultural sector every …
Many questions are raised about the quality of services offered by Indian Railways. Punctuality, passenger safety, infrastructure, quality of food, and even the business model of Indian Railways is questioned. In this article, we cover the some of the major issues associated with Indian Railway system. We will also deal …
As per the current education system in India, all the students up till Class 8 will automatically be promoted to next class. No one can be failed as per the Right to Education Act. This is known as the ‘No-Detention Policy‘. An expert committee headed by T S R Subramanian …
NITI Aayog recommended for privatisation of Air India and the cabinet committee gave “in-principle” approval for privatising Air India. But should Air India be disinvested? In this post, we discuss Indian aviation sector, Air India-Indian Airlines merger, and will see if the reasons for privatisation can be justified or not. Background …
There are two kinds of banking licences that are granted by the Reserve Bank of India – Universal Bank Licence and Differentiated Bank Licence. Differentiated Banks (niche banks) are banks that serve the needs of a certain demographic segment of the population. Small Finance Banks and Payment Banks are examples of …
No country can be great without a robust manufacturing base. In India, Index of Industrial Production (IIP) is the index which measures the growth in the industrial sector. In this post, we explain the concept of IIP, the changes in the new IIP series (2011-12), limitations, and the future. What …
The Inter-State River Water Disputes are one of the most contiguous issues in the Indian federalism today. In the extreme cases, it may hamper the relationship between the different states. The recent cases of the Cauvery Water Dispute and the Satluj Yamuna Link Canal case are examples. Various Inter-State Water Disputes …
How well is the Indian Economy doing in the last 3-4 years? Economic Survey – the flagship annual document of the Ministry of Finance, Government of India – points out that we should worry about the Twin Balance Sheet Problem, now widely known as TBS problem. First of all, what …
Goods and Services Tax (GST) is a comprehensive indirect tax on manufacture, sale, and consumption of goods and services throughout India. GST would replace respective taxes levied by the central and state governments. What is GST? It is a destination-based taxation system. It has been established by the 101st Constitutional Amendment …
For a country to grow, the government should actively promote business enterprises. Among business enterprises, the Micro, Small and Medium Enterprises (MSME) deserve special attention. Though MSMEs are small investment enterprises, but their contribution to the Indian economy is very significant. What are MSMEs? Micro, Small and Medium Enterprises Development …
When the borrower stops paying interest or principal on a loan, the lender will lose money. Such a loan is known as Non-Performing Asset (NPA). Indian Banking industry is seriously affected by Non-Performing Assets. In the best interest of our readers, we have come up with a comprehensive post on …
A village named as Neduvasal in Pudukkottai district in Tamil Nadu is recently in the news headlines. The reason being the launch of a hydrocarbon project. In this post, we cover everything you need to know about Neduvasal Hydrocarbon Project controversy and policies like Discovered Small Field Policy, NELP, and HELP. …
Economic Survey for the year 2016-17 has an entire chapter dedicated to the discussion on Universal Basic Income (UBI). In this article let us try to understand the concept of Universal Basic Income, why it is needed, what are the challenges in its implementation and other related issues. What is …
Not everyone knows Indian Economy well. Not even economists! But thanks to the Economic Survey, many interesting facts about Indian Economy have been brought to light. There are interesting facts and statistics that can give you valuable insights about the potential of India. 1. India has only 7 taxpayers for …
Economic Survey contains the most authoritative and updated source of data on India’s economy. It is usually presented a day before the Union Budget is presented in the Parliament. In this post, we bring answers to the most repeated queries about Economic Survey. What is Economic Survey? Economic Survey is …
Non-Governmental Organizations (NGOs) are part of the development processes of our country. They are recently in news for various reasons. Hence UPSC has added the role of NGOs, SHGs, various groups and associations, donors, charities, institutional and other stakeholders in UPSC CSE Syllabus for GS Paper 2. In this post let …
India is an agrarian economy with 70% of its population dependent on agriculture. Over the years we have improved our agricultural production which has been a boon. But finding a market for the marketed surplus and getting fair prices have always been a major challenge. This clearly points out the need …
We all need foodgrains for consumption. From where do you purchase foodgrains? Is there any government mechanism apart from private shops for the delivery of food grains? In this post, let us cover the Public Distribution System (PDS) in India. The Public Distribution System (PDS) The Public Distribution System (PDS) …
Will the government’s move to demonetise Rs 500 and Rs 1,000 currency notes improve the balance sheet of Reserve Bank of India (RBI)? To understand this scenario, we must learn the interplay of currency, reserve money and money supply. What is currency in circulation? It is the total value of currency (coins and …
You might have noticed about the Demand for Grants while going through Indian Budget. These are demands usually made in respect of the grant proposed for each Ministry. But Parliament being the authority to check the expenditure of the government, it may not approve all demands. Cut motions are motions in …
Prime Minister Narendra Modi has announced the demonetisation of Rs. 1000 and Rs. 500 notes with effect from midnight. This step makes these notes invalid from today. Apart from this, government has also reduced the cash withdrawal limits from banks and ATMs. The move is seen as a major assault on …
Unified Payment Interface (UPI) is recently in news. UPI is believed to revolutionize the way Indians do banking. In this post we will see what UPI is and how safe is using UPI. What is UPI? Unified Payment Interface (UPI) is a newly introduced platform to transfer money between any …
Goods and Service Tax (GST) is a single tax on the supply of goods and services, right from the manufacturer to the consumer. GST is one indirect tax for the whole nation, which will make India one unified common market. The benefits of Goods and Service Tax (GST) GST is beneficial …