APSC Prelims and Mains Notes, APSC Test Series
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
Crowding out is an economic concept that describes a situation where government spending and borrowing reduces overall private sector consumption and investment. Crowding out can be caused by an expansionary fiscal policy financed by increased taxes, borrowing or both. Crowding out can refer to when government borrowing absorbs all the available lending capacity in the … Read more
Unorganised sector: unorganised sector is defined as a production or service oriented enterprise owned by individuals or self employed workers (one who is not working for an employer and is engaged in an unorgnised sector job earning an income below a threshold or owning land below a notified limit) and if workers are employed, then … Read more
Tax expenditure is the revenue foregone as a result of exemptions and concessions. Tax expenditure was introduced for the first time in 2006-07 union budget. Tax expenditure is justified on following grounds: Act as an incentive for priority sector like infrastructure. It promotes balance regional growth It neutralise the disadvantage on account of location It … Read more
Co-operative federalism, in general terms, is a concept wherein the federal government, state government, and local government interact co-operatively and share theirresponsibilities in the governance. Corwin defines co-operative federalism thus: “The Statesand National Governments are regarded as mutually complementary parts of a singlegovernmental mechanism all the powers are intended to realise the current purposes ofgovernment … Read more
Seeker Technology :The seeker technology is a critical technology that determines the accuracy of a missile. So far, the seeker technology had come from Russia. The technology is a closely guarded secret. Mastering it is a significant milestone in missile technology and would reduce import dependence. The seeker was developed by Research Centre Imarat … Read more
‘Late Converger Stall’ refers to the phenomenon wherein a low-income country that hopes to grow into a middle or high-income country, after witnessing a period of high economic growth, fails to achieve its goal. Instead, it gets trapped in its lower income status due to various reasons. Rapid growth witnessed by such countries turns out … Read more
Minimum wages is the minimum wage to be given to workers as per rule and law. The non payment or below payment of wages attract Penalty and sanctions. As per the International Labour Organisation India wage report one in every three wage workers in India is not protected by the minimum wage act. As per … Read more
The term “liberalization” in this context implies economic liberalization. The essence of thispolicy is that greater freedom is to be given to the entrepreneur of any industry, trade orbusiness and that governmental control on the same be reduced to the minimum. Rules and laws which were aimed at regulating the economic activities became majorhindrances in … Read more
UNSC is one of the six principal organs of the United Nations formed in 1945. In these 75 years world underwent drastic change in the geopolitics and international relation. Hence the membership and structure does not represent the true nature of the contemporary reality. So there is the need of the reforms and the demand … Read more