Economy

Historically, India has classified and tracked its economy and GDP in three sectors: agriculture, industry and services. Agriculture includes crops, horticulture, milk and animal husbandry, aquaculture, fishing, sericulture, aviculture, forestry and related activities. Industry includes various manufacturing sub-sectors. India’s definition of services sector includes its construction, retail, software, IT, communications, hospitality, infrastructure operations, education, health … Read more DMPQ: Write and Essay on the Sectoral Composition with respect to contribution to Gross Domestic Product (GDP) and Employment

  Promotion of commodity-based farmers’ organisations such as Small Cotton Farmers’ Estates to combine decentralised production with centralised services such as post-harvest management, value addition and marketing, for leveraging institutional support and facilitating direct farmer-consumer linkage. Improvement in implementation of Minimum Support Price (MSP). Arrangements for MSP need to be put in place for crops … Read more DMPQ- It is imperative to raise the agricultural competitiveness of farmers with small land holdings. Outline the suggestions to improve the agricultural competitiveness.

Current account:       Current account refers to the account maintained by every government of the world in which every kind of transaction is shown, this account is maintained by the central banking body. Current transactions of an economy in foreign currency all over the world- export, import, interest payments, foreign investments in share.   Capital account:         … Read more DMPQ: Define following term ( Eco) a) Current account b) Capital account c) Balance of payment d) Trade balance

The Monetary Policy Committee (MPC) constituted by the Central Government under Section 45ZB determines the policy interest rate required to achieve the inflation target. The Reserve Bank of India Act, 1934 (RBI Act) has been amended by the Finance Act, 2016,  to provide for a statutory and institutionalised framework for a Monetary Policy Committee, for … Read more DMPQ- Write short note on Monetary Policy committee.

Medium of Exchange The only alter­native to using money is to go back to the barter system. However, as a system of ex­change the barter system would be highly impracticable today.  For example, if the baker who supplied the green-grocer with bread had to take payment in onions and carrots, he may either not like … Read more DMPQ- What are the Functions of money in an Economy?

Shell companies are typically corporate entities which do not have any active business operations or significant assets in their possession.  A shell company may be a legal entity or not. Issues associated with shell companies: There is no clear definition of shell companies. Even under the companies act they are not defined. Out of the … Read more DMPQ: What are shell companies? What are the concerns associated with shell companies. (Economy)

Indian economy has some inherent vulnerabilities and that is becoming hurdle in holistic development of the economy. These areas are as follows: Investment rate is on decline. It is near about 29%. It has to be 36-38% for sustaining high growth rate as per economic survey. Investment is way better than savings as engine of … Read more DMPQ:There are some inherent vulnerabilities in the Indian economy. Without addressing them sustaining high growth will be a daunting task. What are these inherent vulnerabilities?

Launched by the Hon’ble PM in January, the ‘Transformation of Aspirational Districts’ programme aims to quickly and effectively transform these districts. The broad contours of the programme are Convergence (of Central & State Schemes), Collaboration (of Central, State level ‘Prabhari’ Officers & District Collectors), and Competition among districts driven by a mass Movement. With States … Read more DMPQ- Aspirational District Programme.

The scheme is implemented by Khadi and Village Industries Commission (KVIC) functioning as the nodal agency at the national level. At the state level, the scheme is implemented through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs) and banks. In such cases KVIC routes government subsidy through designated banks … Read more DMPQ-Prime Minister Employment generation Programme.

GST council is a constitutional body which consists of Finance minister as chairman, Union minister of state in charge of revenue of finance, Minister of finance or any other minister nominated by each state government to GST council.  It make recommendations on following issues: Taxes, cesses, and surcharges to be included under the GST Goods … Read more DMPQ- What is GST council? Write down its function