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Horizon of Indian Economy

General Knowledge for Competitive Exams

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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.

List of Sectors reserved for Public Sectors in India

Jun 27, 2018
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 Maharatna and Navratna Companies in India

Jun 20, 2018
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.

List of all Five Year Plans of India

Jun 20, 2018
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.

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.

Index of Industrial Production (IIP): Detailed information

Feb 28, 2018
The Central Statistical Organisation (CSO) under the “Ministry of Statistics and Programme Implementation” is responsible for the compilation and publication of the Index of Industrial Production (IIP) since 1950. It calculates the data of eight core sectors. IIP’s current base year is 2011-12 since May 2017.

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

Feb 28, 2018
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.

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.

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.

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