General Knowledge for Competitive Exams

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Lokpal an Anti-Corruption Ombudsman: Meaning and Powers

4 hrs ago
Lokpal is a national anti corruption ombudsman to look into complaints against public servants which are defined under the Lokpal Act 2013. The Lokpal and Lokayuktas Act, 2013 received the assent of the President on the January 1st, 2014, and is hereby published for information of general Public.

List of Sectors reserved for Public Sectors in India

Mar 15, 2019
India is a mixed economy which has combination of both public and private companies. If Indian wants to take profit of globalisation then the Indian economy should get closer to the world economy, as India has already done through New Economic Policy (NEP) of 1991. This is the impact of the NEP that as of now just 2 sectors of national importance are reserved for the public enterprises. These sectors are atomic energy and railway operations.

New Economic Policy of 1991: Objectives, Features and Impacts

Mar 15, 2019
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.

List of all Five Year Plans of India

Mar 14, 2019
The concept of economic planning in India is derived from the Russia (then USSR). India has launched 12 five year plans so far. First five year plan was launched in 1951. Now the present NDA government has stopped the formation of five year plan. So 12th five year plan would be called the last five year plan of India.

Can Indian Government repay the External Debt by Printing New Currency?

Mar 14, 2019
Indian government had debt of 529 billion dollar by March 2018 which further reduced to 510.4 billion dollar in December 2018. Now the question arises whether the government of India can print more money to repay this debt or not? Let’s read this article and know the all consequences of printing more money.

List of Maharatna and Navratna Companies in India

Mar 5, 2019
PSUs may be classified as Central Public Sector Enterprises (CPSEs), public sector banks (PSBs) or State Level Public Enterprises (SLPEs). CPSEs are administered by the Ministry of Heavy Industries and Public Enterprises. As on 26 February, 2018, there are 8 Maharatnas and 16 Navratnas in India.

What are Grey List and Black List of the Financial Action Task Force?

Feb 25, 2019
The FATF is an independent inter-governmental body that develops and promotes policies to protect the Global Financial System against terror funding and Money Laundering activities. FATF has 2 types of lists one is Black list and other is Grey list. Those countries which are not supporting terror funding and money laundering are listed in the Black list while pro terror funding and money laundering nations are included in the grey list.

What is the Meaning and Objectives of the Financial Action Task Force (FATF)?

Feb 22, 2019
The FATF is an independent inter-governmental body that develops and promotes policies to protect the Global Financial System against Anti-Money Laundering Standards and Counter-Terrorist Financing Measures. In this article we have explained that what are the objectives of the FATF?

Cess: Meaning and Types in India

Feb 20, 2019
CESS is tax on tax and usually levied for the specific purposes. Once its purpose is solved they are stopped. Unlike the other taxes that have to be shared with other Indian states, the centre keeps the entire amount raised from the Cess. The collection through the CESS is kept in the Consolidated Fund of India. As of now there are 6 types of Cess imposed in India.

List of Smart Cities in Uttar Pradesh

Feb 15, 2019
The Smart Cities Mission (SCM) is a holistic city programme to build 100 cities in India. It was launched on June 25, 2015 by the Prime Minister Narendra Modi. The objective of the Smart Cities Mission is to promote cities that provide core infrastructure and give a decent quality of life to its citizens, a clean and sustainable environment or to provide better basic facilities to the citizens of the country.

Smart City Project: Detailed Information at a Glance

Feb 14, 2019
The Smart Cities Mission (SCM) is a holistic city programme to build 100 cities in India. It was launched on June 25, 2015 by the Prime Minister Narendra Modi. The prime objective of this Smart Cities Mission is to promote cities to upgrade infrastructure and provide better basic facilities to the citizens of the country.

List of Important Schemes launched by the Modi Government

Feb 12, 2019
Democratically elected government is believed to be dedicated to the welfare of the people. Keeping in mind the welfare of all sections of the society the Modi government has created many new schemes. For example; The Atal Pension Scheme, Ujjwala Scheme, Gramodaya, Bharat Uday and Setu Bharti Yojana etc.

List of Centrally Sponsored Scheme and Expenditure on them?

Feb 12, 2019
The schemes run by the Central Government are divided into 3 categories. These categories are ‘Core of core schemes’, Core schemes and major Central Sector Schemes. There are around 6 schemes in the list of ‘Core of core Schemes’ and 28 schemes in the Core Sectors. Core of Core Schemes are fully funded by the Central government.

List of Governors of Reserve Bank of India

Feb 11, 2019
Since its establishment in 1935, by the British colonial government, 25 people have worked as the governor of the Reserve Bank of India. The first Governor of the Reserve Bank of India was British banker Osborn Smith, while C.D. Deshmukh was the first Indian Governor of Reserve Bank of India. At present, the Governor of Reserve Bank of India is Shashikant Das, who took charge on 12 Dec. 2018.

What is Money Laundering and how is it done?

Feb 8, 2019
Money Laundering refers to converting illegal earned money into legitimate money. So Money Laundering is a way to hide the illegally acquired money. The government does not get any tax on the money earned through money laundering, because the government does not have any accounting for this money.

What is Chit Fund and how does it work?

Feb 7, 2019
Chit fund is defined as per the Section 2(b) of the Chit Fund Act, 1982. According to this act; A chit fund is a type of rotating savings and agreement among different persons i.e. friends, relatives, neighbours and family members to subscribe a certain sum of money for a specified period of time. Chit funds are often microfinance organizations. Chit Funds are also known as the Chitty, Kuree, chit.

List of Important Committees and Commissions in India

Feb 6, 2019
There are many committees and commissions are made in India in various fields. There are many reforms taken place in our country on the basis of the recommendations of these committees and commissions. It is observed that many questions are asked in the exams based on these committees and commissions. So students need to remember them.

6 Amazing Questions on Indian Budget You Never Knew

Jan 31, 2019
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.

Union Budget of India: Definition and different types

Jan 31, 2019
‘Budget’ is a systematic list of items of revenue and expenditure of the government of a defined duration or we can say it’s a plan for the income and expenditure of the government for the present, past and future financial years.

What is Cow Cess and which Indian States impose it?

Jan 15, 2019
Some states in the country have decided to levy 'Cow Cess' in order to arrange the fund for care of the stray animals. The tax rate varies from state to state and ranges from 2% to 20%. This tax is mainly levied on luxury goods and services so that it does not affect the poor people. In this article we are publishing the information on the cow cess.

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