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Horizon of Indian Economy

General Knowledge for Competitive Exams

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New Economic Policy of 1991: Objectives, Features and Impacts

3 days ago
New Economic Policy of India was launched in the year 1991 under the leadership of P. V. Narasimha Rao. This policy opened the door of the India Economy for the global exposure for the first time. In this New Economic Policy P. V. Narasimha Rao government reduced the import duties, opened reserved sector for the private players, devalued the Indian currency to increase the export. This is also known as the LPG Model of growth.

Banking Merger in India: Meaning and Benefits

Sep 2, 2019
In the month of August 30, 2019, Finance Minister of India MS. Nirmala Sitharaman declared to merge 10 Public Sector Banks into 4 big banks. After this merger now the number of Public Sector Banks reduced to 12 from 27 of 2017.

What is Money Laundering and how is it done?

Aug 22, 2019
Money Laundering refers to converting illegal earned money into legitimate money. The government does not get any tax on the money because there is no accounting of the black money.So Money Laundering is a way to hide the illegally acquired money.

How National Highways are named in India

Apr 9, 2019
National Highways Authority of India (NHAI; was set up in 1988) is responsible for development, maintenance and management of Highways in India. India has the second largest road network across the world. The total length of Natioanl Highways in increased from about 91,287 km in 2014 to about 142,126 km in 2019.

Merit and Non Merit Goods: Meaning, differences and Examples

Apr 5, 2019
Merit goods and services are those goods which are promoted by the government. Government wants to promote the consumption of these goods to increase the welfare of the society. On the other hand non merit goods and services are those which are harmful for the society so government want to check the consumption of the non merit goods.

What is the Sector-wise contribution of GDP in India?

Apr 2, 2019
Services sector is the largest sector of India. Services sector accounts for 53.66% of total India's GVA of Rs. 137.51 lakh crore. Industrial sector is at the second spot and contributing around 31% of the Indian GDP. Agriculture sector is at the third spot and contributing around 16% of the Indian GDP.

Impacts of Green Revolution on India

Apr 1, 2019
In the latter half of the Second Five Year Plan, planners suggested ways and means to increase agricultural production and productivity. So the government introduced an intensive development programme in seven districts selected from seven States around 1966-67, known as Green Revolution in India.

How Poverty Line is Determined in the Indian States?

Apr 1, 2019
Suresh Tendulkar panel (in 2011-12) said that those who spend Rs. 27 in rural areas and Rs. 33 in urban areas are not poor. While an expert panel headed by former RBI governor C. Rangarajan said in a report submitted to the BJP government in July, 2014 that those spending over Rs 32 a day in rural areas and Rs 47 in towns and cities should not be considered poor.

TRIFED: Meaning and Objectives

Mar 29, 2019
The full form of TRIFED is ‘The Tribal Cooperative Marketing Development Federation of India’. It was established in 1987. It became operational from April 1988. The basic objective of the TRIFED is to provide good price to the products made or collected from the forest by the tribal peoples.

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.

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.

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 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.

Agricultural Development in Uttar Pradesh: Important facts for Exams

Aug 9, 2018
Agriculture is called the backbone of economy of Uttar Pradesh. Uttar Pradesh is the top producer of food grain in Uttar Pradesh. Agriculture provides around 59% employment to the residents of the state. This article is publishing some important facts about the role of agriculture in the development of the state. I hope that these facts will be very crucial for the upcoming exams to be held in the state.

List of Industries left for Licensing in India

Jul 25, 2018
Since the inception of the New Economic Policy in 1991; India opened most of the sectors for the private players and industrial licensing has been abolished for almost all the industries except five. This article is publishing the name of the industries where licensing system still continues.

14th Finance Commission: Share of States in the Union Tax Revenue

Apr 17, 2018
Article 280 of the Indian Constitution requires the composition of the Finance Commission in every five years. The 14th Finance Commission of India is constituted in the chairmanship of the former RBI governor Mr. Y.V. Reddy for the period of April 1, 2015 to March 31, 2020. The 14th Finance Commission has recommended a record 10% increase in the states' share in the Union taxes revenue to 42%.

20 facts about Indian Economy-2018

Mar 20, 2018
A recent report released by the International Monetary Fund, said that Indian economy will be the fastest growing economy in the world in the year 2018. The Indian economy is composed of the three major sectors like i.e., Services sector: 53.7%, Industry sector: 31.2% and Agriculture sector: 15.2%.

What is the State wise Renewable Energy Potential in India?

Mar 13, 2018
As per the data released by the Ministry of New and Renewable Energy, the total renewable potential of India is 896602 MW.Rajasthan is the leader of solar power production and overall renewable energy production in the country followed by the Jammu & Kashmir and Maharashtra with total renewable energy of 118208 MW and 74500 MW respectively.

What are the key features of Payments Banks in India?

Mar 12, 2018
A Payments Bank is a “differentiated bank” set-up under the guidelines issued on Nov 27, 2014 by the Reserve Bank of India (RBI).The main objective of setting up of payments banks is to ensure the financial inclusion by providing payments/remittance services to migrant labour workforce, opening up small savings accounts of; small business holders, low income households and workers of the un-organised sector.

How Maharatna,Navaratna and Miniratna status granted to CPSEs?

Mar 7, 2018
The central Government has laid down eligibility criteria to grant Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs).This article is explaining the criteria for granting the Maharatna, Navaratna and Miniratna status granted to PSUs/ CPSEs. Currently there are 8 Maharatna, 16 Navratna and 74 Miniratna companies in India.

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