General Knowledge for Competitive Exams

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Fiscal Policy of India: Meaning, Objectives and Impacts on the Economy

Feb 26, 2018
Fiscal policy deals with the taxation and expenditure decisions of the government. Some of the major instruments of fiscal policy are as follows: Budget, Taxation, Public Expenditure, public revenue, Public Debt, and Fiscal Deficit in the economy.

List of top 15 Private Sector Banks in India

Feb 23, 2018
In banking sector, there are 3 types of banks i.e. Public sector Banks, Private sector Banks and Foreign sector banks. In private sector Banks; the Banks are owned through either an individual or with limited partners and these types of banks are not incorporated. HDFC (Housing and Development Finance Corporation) is the biggest bank of India in terms of market capitalization followed by axis bank and ICICI Bank.

Five Year Plans of India: 15 important facts

Feb 22, 2018
The first five year plan of India was launched in the 1951 and so far 12 five year plans have been implemented in the country. Present NDA government has decided to stop formation of new five year plan further. This article is explaining 15 interesting facts about these all five year plans.

New Economic Policy of 1991: Objectives, Features and Impacts

Feb 21, 2018
In 1991, the P. V. Narasimha Rao government reduced the import duties, opened reserved sector for the private players, devalued the Indian currency to increase the export and reduce the adverse Balance of Payment (BOP) situation. This is also known as the LPG Model of growth.

Features of Micro, Small and Medium Enterprises Development Act, 2006

Feb 9, 2018
Small and Medium Enterprises Development Bill 2005 (which was presented in the parliament on May 12, 2005) has been approved by the president and thus become an act. This act is named as ‘The Small And Medium Enterprises Development Act, 2006’. This act became effective from Oct. 2006.

Micro Small and Medium Enterprises in India: Definition, Role and Performance

Feb 9, 2018
Micro, Small and Medium Enterprises (MSME) contribute nearly 8 percent of the country’s GDP, 45 percent of the manufacturing output and 40 percent of the exports of India. Currently MSMEs are defined as per the MSME Act 2006.

List of Chinese Funded Companies in India

Feb 7, 2018
India's largest purchasing power and huge market are attracting marketers from across the world. Among all the investors, Chinese investors and technology entrepreneurs comes with a Herculean investment in India’s start-up specialising in areas such as mobile gaming, education, healthcare, financial technology and Internet of Things (IoT) in India. Here, we are giving the list of Chinese Funded Companies in India (List of India’s Start-up Company funded by Chinese Investors) for general awareness (GK).

What are the differences between Wholesale Price Index & Consumer Price Index?

Feb 6, 2018
Wholesale Price Index (WPI) and Consumer Price Index (CPI) are two widely used indexes to calculate the inflation in the country. India uses WPI index to calculate the inflation while most of the countries use CPI for the same. This article is pointing some basic differences between the WPI & CPI.

List of Top 7 Products Imported by India

Feb 5, 2018
As we know that India produces just 20% crude oil of its requirement and rest 80% is imported from abroad. Crude oil and other related products accounts for around 22% total import of India. The second spot is acquired by the capital goods (machinery, base metal, transport equipment) which accounts for 19.2% of the total Indian imports.

Economic Survey Report 2017-18: Key Facts

Feb 3, 2018
Finance Minister Arun Jaitley presented Economic Survey 2017-18 in both Houses of Parliament on January 29, 2018. The Economic Survey shows the condition of different sectors of the Indian economy. Through this survey, the economic condition of the country can be assessed properly. This survey is sought after by so many individuals and institutions like; students, policy makers, research scholars, IMF, World Bank, foreign governments and foreign investors etc.

List of Top 10 Products Exported from India

Feb 2, 2018
In 2017-18 (April- November) among the major sectors, there was good export growth in engineering goods and marine products; moderate growth in petroleum crude & products and agriculture & allied products. Economic survey 2017-18 mentions that engineering goods contribute around 26% in the total export of India followed by the Gems & Jewellery sector. This article is showing sector wise share and export growth rate in the financial year 2017-18.

6 Amazing Questions on Indian Budget You Never Knew

Feb 1, 2018
The Union Budget of India, which is known also as the ‘Annual financial statement’ in the Article 112 of the Indian Constitution. The first Union budget of independent India was presented by R. K. Shanmukham Chetty on November 26, 1947. Former Prime Minister Manmohan Singh and former finance minister Yashwant Sinha are the only two leaders who presented the Union Budget of India 5 times consecutively.

General Anti Avoidance Rules (GAAR): Principles, implications and its Procedure

Feb 1, 2018
GAAR (General Anti-Avoidance Rules) is a tool for checking aggressive tax planning especially that transaction or business arrangement which is/are entered into with the objective of avoiding tax. It has been introduced in India due to VODAFONE case ruling in favour of this company by the Supreme Court. For example: “A” makes a company XYZ to sell product C. The company B pays 35% tax, but if “A” himself sold the products he would pay 40% tax. “A” has formed the company only to save 5% tax.

Is inflation always bad for the economy

Jan 31, 2018
A simple definition of the inflation is the constant rise in the price of goods and services. More often inflation is considered bad for any economy but this is just half truth. The positive and negative impacts of inflation on the economy depend on the rate of the inflation. Moderate inflation is good for the growth of the economy while hyperinflation is injurious for it.

What are the differences between FERA and FEMA?

Jan 24, 2018
The Foreign Exchange Regulation Act (FERA) was passed in 1973; the main purpose of which was to ensure the use of foreign exchange. The FERA was creating obstacles in the development of the country so government replaced it by FEMA in 1999.This article is pointing the differences between the FERA and FEMA.

What are the features of PENCIL Portal?

Jan 12, 2018
PENCIL is an electronic portal which aims at eradicating child labour to create a child labour free society. PENCIL stands for Effective Enforcement for NO Child Labour. This article deals about what is PENCIL portal, its features. When NCLP scheme was started and what were the objectives etc.

What is SATH Program?

Jan 9, 2018
SATH program stands for 'Sustainable Action for Transforming Human capital’. It has been launched by NITI Aayog with the state government to initiate the process of transforming education and health sectors. This article deals with what is SATH program, features of SATH program, which states are selected in this program etc.

20 most important facts about Goods and Services Tax for exams

Jan 4, 2018
Goods and Services Tax (GST) is an indirect tax which has been implemented in India on 1 July 2017. The main objective behind the implementation of this tax is to make a uniform tax system in the country. Due to the implementation of the GST, incidence of tax evasion will come down in the country. So GST will increase the total tax collection of the government. In this article, we are giving 20 key facts related to the goods and services tax (GST).

What is the cost of printing 200, 500 and 2000 rupees notes in India?

Jan 2, 2018
In India, printing of new notes is the solely right of the Reserve Bank of India (RBI).RBI prints currency notes of all denomination except one rupee note. In its annual report, the Reserve Bank has stated that the cost of printing a note of 200 rupees is Rs.2.93, printing cost of 500 rupee note is Rs. 2.94 and printing of a 2000 rupee note costs Rs.3.54.

Do you know about Umbrella Scheme and its benefits?

Dec 23, 2017
The Umbrella Scheme is a mission of protection and empowerment for Women. On 22 November, 2017, the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi has given approval for the expansion of Umbrella Scheme. This article deals with Umbrella Scheme, its provisions and what are its benefits etc.

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