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General Knowledge for Competitive Exams

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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.

Why size of the coins is decreasing in India

Dec 18, 2017
In India, the Finance Ministry is responsible for the minting of coins and printing of one rupee notes. The Finance Ministry is reducing the size of the coins every year, but do you know the reason behind this step. The Government of India tries that the metallic value of any coin should remain less than its face value, because if the metallic value of the coins becomes more than the face value then the people will melt the coin and sale the metal in the open market.

How to change Soiled and mutilated Bank Notes as per RBI rules

Dec 13, 2017
If you have old and soiled Notes, then you can change these Notes by going to any commercial bank. The most convenient thing is that customer need not to have any account with the bank in which he is going to change the Notes. No bank can refuse to change your old and soiled old Notes because of the rules of the Reserve Bank of India (RBI).

What is the Sensex and how is it calculated

Dec 11, 2017
The Sensex measures the stock prices of 30 listed companies of the Bombay Stock Exchange. If the Sensex rises up, then it shows that the stock price of most companies of "Bombay Stock Exchange" (BSE) has increased and if the Sensex decreases; it shows that the stock price of most companies of BSE has dropped down. The main reason for the ups and downs in the Sensex is the fluctuations in the prices of these 30 companies.

How currency and coins are circulated in the Indian economy by the RBI

Dec 1, 2017
The establishment of Currency Chests or "currency vault" has been done by the RBI to smoothly circulate the banknotes in the economy. To open a Currency Chest, the RBI authorizes the selected branches of commercial banks. Bank notes are stored by RBI in these Currency Chests. Currency Chest supplies banknotes to other branches of commercial banks situated in the nearby area.

What is Corporate Social Responsibility and how much money is spent on it in India

Nov 27, 2017
Corporate Social Responsibility refers to responsibility of the companies to upgrade the well being of the weaker sections of the society by spending a sum of their profit on CSR activities. As per CSR rule, companies which have annual net worth of Rs. 500crore or annual income of Rs.1000 crore or an annual profit of Rs.5 crore, it is necessary for them to spend at least 2% of the average profit of three years on the CSR activities.

One year of Demonetisation: A detailed analysis of the Advantages and Disadvantages

Nov 21, 2017
Prime Minister Narendra Modi on November 8, 2016, had banned old notes of 500 and 1000 rupees all over the country. This ban throws a shock wave across the country and created fear among the terrorist, corrupt officials and tax evaders. This article is based on the analysis of the advantages and disadvantages of the demonetisation.

List of top 30 companies listed in the BSE Sensex

Nov 13, 2017
The list of all companies that have been included in the BSE SENSEX from its inception in 1986 are 30 well established and financially sound companies. During the introduction of the SENSEX in 1986, some of the companies included in the base calculation in 1979 were removed and new companies were added. As of 13 Nov. 2017, BSE Sensex comprises 31 companies.

Where do Printing of Security Papers, Notes and Minting take Place in India?

Nov 10, 2017
Security Printing and Minting Corporation of India Limited (SPMCIL) is a Miniratna Category-I CPSE, and wholly owned Schedule ‘A’ Company of Government of India, is engaged in the manufacturing of security papers, minting of coins, printing of bank notes, non-judicial stamp papers, postage stamps and travel documents, etc.

Hunger Problem in India:Some Awakening facts

Oct 31, 2017
As per the latest census data there is 22% population of India is living Below the Poverty Line. A huge part of Indian population i.e. 190 million people sleep without food daily. This article will tell all the bleak spot of the Indian economy related to hunger situation.

List of Governors of Reserve Bank of India

Oct 31, 2017
Since its establishment in 1935, by the British colonial government, 24 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, Urjit Patel, who took charge on September 4, 2016.

Indian Economy: A Complete Study Material

Oct 30, 2017
The Complete Study Material of “Indian Economy” is segmented into 5 Sections to streamline the learning process for all students who are at a learning stage with the reference of NCERT economics book and some other academic books.

How can you verify your fake GST bill

Oct 24, 2017
The Indian government has decided to implement the Goods and Services Tax (GST) in the entire country from July 1, 2017. So all the restaurants which have registered themselves with the government of India and do not have air conditioner (AC) will have to pay GST at the rate of 12% and those restaurants which have air conditioner in their premises will have to pay GST at the rate of 18%.

World's only bank which gives loan without any document

Oct 16, 2017
Generally, citizens have to deposit many types of documents in order to take loans from banks and loans are given to the citizens only after scrutiny of those documents. But you will be surprised to know that there is only one bank in the world, which gives loans to customers without any documents. In this article, we are giving detailed explanation about that bank who gives loan to its clients without any documenting.

List of Approved Stock Exchanges in India

Oct 9, 2017
Stock exchanges are the place where investors buy and sell the shares in the companies. As of now there are 23 SEBI approved stock exchanges in the country. Stock market is managed and regulated by the Securities and Exchange Board of India (SEBI).

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