Exam Topper

India’s GDP is estimated to have increased 7.2 per cent in 2017-18 and 7 per cent in 2018-19. Its performance has been quite stable in last 6-7 years after recovery from impact of global financial recession. Similarly, the Indian economy has witnessed a gradual transition from a period of high and variable inflation to a more stable and low level of inflation in the past five years, according to the Economic Survey. The current phase of low inflation is marked by a reduction in both urban and rural inflation. Based on this the survey argued that amidst the gloomy landscape of unusual volatility in the international economic environment, India stands as a haven of stability and an outpost of opportunity.  Importance of Macro-economic stability  •Investors like macro-economic stability. If the economy is not well-managed, financial markets react negatively, at times even disproportionately, making economic management a lot more difficult, which can lead to a full-blown crisis....

The project aims to fulfil the watershed component of the Pradhan Mantri Krishi Sinchai Yojana (PMSKY) to reduce surface runoff of rainwater, increase groundwater levels and ensure better water availability in rain fed areas. This will contribute to higher agricultural production even in water-stressed areas.  Impact of National Watershed Project in increasing agricultural production in water-stressed areas.  •It was launched for achieving the major objectives of the watershed component of the PMKSY and for ensuring access to irrigation to every farm (Har Khet Ko Pani) and efficient use of water (Per Drop More Crop)  •It will bring about institutional changes in watershed and rain-fed agricultural management practices in India.  •It will help to build systems that ensure watershed programmes and rain-fed irrigation management practices are better focused, and more coordinated, and have quantifiable results.  •It will devise strategies for the sustainability of i...

GST is an indirect tax which has replaced many extant indirect taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March, 2017. The Act came into effect on 1st July, 2017; Goods & Services Tax Law in India is a comprehensive, multistage, destination-based tax that is levied on every value addition.  Under the GST regime, the tax is levied at every point of sale. In the case of intrastate sales, Central GST and State GST are charged. Inter-state sales are chargeable to Integrated GST. In the earlier indirect tax regime, there were many indirect taxes levied by both state and centre. States mainly collected taxes in the form of Value Added Tax (VAT). Every state had a different set of rules and regulations. Inter-state sale of goods was taxed by the Centre. CST (Central State Tax) was applicable in case of inter-state sale of goods. Other than above, there were many indirect taxes like entertainment tax, octroi and local tax that was levied by state...

Information and Communications Technology (ICT) represents an enormous opportunity to introduce significant and lasting positive change across the developing world. The rapid penetration of mobile access in particular has resulted in considerable improvements in the lives of the poor in both rural and urban contexts.  The effectiveness of such ICT projects suffer from the following vital factors:  Digital Divide : rural and urban, rich and poor, men and women  Digital illiteracy: about 90% of Indian population is digitally illiterate  Slow roll-out of Wi-Fi hotspots and the slow speed, in comparison to other developed nations.  Most small and medium scale industry is struggling to adapt to modern technology.  Entry level smartphones have limited capabilities for smooth internet access, and the outreach of the smartphones is limited.  There is an absence of enough skilled manpower in digital technology. Lack of user education and limited facilities to t...

The term ‘separation of powers’ was coined by Montesquieu in his book “Spirit of Laws”. Separation of powers, refers to the division of government responsibilities into distinct branches to limit any one branch from exercising the core functions of another. The intent is to prevent the concentration of power and provide for checks and balances.  According to Wade and Philips, the concept of separation of power means three different things:  •Same person should not form part of more than one of the three organs of the government. Example: Ministers should not be made to sit in the Parliament.  •One organ of the government should not control or interfere with the exercise of its functions by another organ. Example: Judiciary should be independent or the Ministers should not be made responsible to the Parliament.  •One organ of the government should not exercise the functions of another. Example: Ministers not to have legislative powers.  Democratic government is c...

Creating an efficient transport infrastructure in the country is one of the chief factors responsible for the takeoff of accelerated growth in the country. On account of poor quality of transport infrastructure, progress made in efficient and affordable urban mass transport would have a key role on taking India to double digit growth.  Need of efficient and affordable urban mass transport  • Nearly 31% of India’s current population lives in urban areas contributing to 63% of India’s GDP (Census 2011) and with increasing urbanization, urban areas are expected to house 40% of India’s population and contribute to 75% of India’s GDP by 2030.  • India’s urban growth is largely concentrated in large cities which increased from 35% in 2001 to 53% in 2011, accounting for 43% of India’s urban population, and is expected to be 87% by 2030.  Efficient and affordable urban mass transport key to the rapid economic development of India  • Efficient urban mass transport system...

I. Indian Economy and Development:  1. National Income -Concepts and Measurement of National Income- Nominal and Real Income; Structure and growth of Indian economy – Sectoral trends in National Income of India  2. Poverty and Unemployment: Concepts of Poverty - Income-based Poverty, nonincome Poverty- capability approach (Human Poverty Index), Measurement of Poverty and trends in Poverty; Concepts, estimates and trends of Unemployment  3. Money and Banking: Money supply, Structure of Indian Banking and non-banking financial institutions; Reforms in Banking sector; Regulation of credit by RBI  4. Public Finance: Tax structure, Central and state taxes; Government expenditure in revenue and capital account; Public debt: composition- internal and external debt; Monetary Policy, Fiscal Policy; Union Budget: Budget Analysis.  5. Planning in Indian economy: Objectives, Priorities, Strategies, Achievements of Five Year Plans; 12th FYP - Inclusive growth; NITI Aayog; Li...