Economy

·       Pradhan Mantri MUDRA Yojana (PMMY)    Launched: 8April2015 Main Objective: Financial support for growth of micro enterprises sector. Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana was launched with the purpose to provide funding to the non-corporate small business sector. Pradhan Mantri Mudra Yojana (PMMY) is open and is available from all Bank branches … Read more

The Rashtriya Madhyamik Shiksha Abhiyan is a flagship scheme of Government of India, launched in March, 2009, to enhance access to secondary education and improve its quality. The implementation of the scheme started from 2009-10 to generate human capital and provide sufficient conditions for accelerating growth and development and equity as also quality of life … Read more

NITI Aayog as guided by the central government has come up with a unique and promising idea of ‘Aspirational Districts Programme’ based on mass movement approach. The uniqueness of the programme lies in its approach and implementation based on creating a competitive environment and empowering State Governments (mains driver) diving respective districts as competitors. (total … Read more

Parallel economy, based on the black money or unaccounted money, is a big menace to the Indian economy. It is also a cause of big loss in the tax-revenues for the government. We can define black economy as the money that is generated by activities that are kept secret, in the sense that these are … Read more

India imports 40% of the World’s total production of Gold, making India as the top importer of Gold metal. India imports approx 1000 tons of Gold per year. The imports are mainly from China, USA, Australia, South Africa and Russia. In India, approx 4000 tons of gold is lying idle in Temples, and approx 15000 … Read more

Medium of Exchange The only alter­native to using money is to go back to the barter system. However, as a system of ex­change the barter system would be highly impracticable today.  For example, if the baker who supplied the green-grocer with bread had to take payment in onions and carrots, he may either not like … Read more

Demand-Pull Effect The demand-pull effect states that as wages increase within an economic system (often the case in a growing economy with low unemployment), people will have more money to spend on consumer goods. This increase in liquidity and demand for consumer goods results in an increase in demand for products. As a result of … Read more

The Indian textile industry has a significant presence in the economic life of our country. It is the second largest textile industry in the world after China. The textile industry contributes about 14% to the country’s industrial output and about 17% to export earnings. After agriculture, this industry is the second largest employer in India … Read more

A Development Financial institution (DFI) is defined as “an institution endorsed or supported by Government of india primarily to provide development/Project finance to one or more sectors or sub-sectors of the economy. the institution differentiates itself by a thoughtful balance between commercial norms of operation, as adopted by any financial institution like commercial bank and … Read more

Industry is not the substitute of agriculture, rather they are complementary to one another. Both these sectors are so attached with each other that it is not possible to increase the growth of one sector sector without the improvement of the other sector. If agriculture is considered as the ‘heart’ of the country, then obviously … Read more