APSC Prelims and Mains Notes, APSC Test Series
USA is a knowledge based economy which is growing at a sustained rate. This type of economy adds more value to its available resources and hence ensure better growth. The major concern with India in realising the potential of knowledge base economy are: Lack of adequate funds for investing in R&D sector. Our … Read more
After the recent Assembly elections, the new governments in Rajasthan, Madhya Pradesh and Chhattisgarh announced farm loan waivers. According to SBI Research, around ₹70,000 crore will be spent on farm debt waivers till May 2019. Rising costs, drop in income and increasing incidence of indebtedness among small and marginal farmers manifested in a spate of suicides over … Read more
Parallel economy, based on the black money or unaccounted money, is a big menace to the Indian economy. It is also a cause of big loss in the tax-revenues for the government. We can define black economy as the money that is generated by activities that are kept secret, in the sense that these are … Read more
Minimum support price is the government scheme to safeguard the interest of the farmers. GOI declares the MSP of various agricultural produce and assures the farmers that their agriculture produce will be purchased at the MSP. The Food Corporation of India acts as the Nodal agency of the GoI. MSP scheme is implemented through state … 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
Ease of doing business is an index published by the World Bank. It is an aggregate figure that includes different parameters which define the ease of doing business in a country. It is computed by aggregating the distance to frontier scores of different economies. The distance to frontier score uses the ‘regulatory best practices’ for doing … Read more
Demand Pull Inflation: The term demand-pull inflation usually describes a widespread phenomenon. That is, when consumer demand outpaces the available supply of many types of consumer goods, demand-pull inflation sets in, forcing an overall increase in the cost of living. When demand surpasses supply, higher prices are the result. This is demand-pull inflation. A low … Read more
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
Today, employment share of three sectors of economy is roughly – industry (17%), agriculture (57%) and services (26%). Unemployment is mainly of two types – disguised unemployment and open unemployment. Disguised unemployment is also called under-employment. It is a situation in which a person is not contributing fully to his potential for example, a task … Read more
Highlights of the Bill This Bill amends the principal Act passed in 2013. The Bill enables the government to exempt five categories of projects from the requirements of: (i) social impact assessment, (ii) restrictions on acquisition of multi-cropped land, and (iii) consent for private projects and public private partnerships (PPPs) projects. The five categories of … Read more