Universal Basic Income (UBI): In the Economic Survey 2016-17, Finance Minister Arun Jaitley advocated Universal Basic Income scheme (UBI) in place of various social welfare schemes in the country, in an effort to reduce poverty and income inequality in the country.
The Complete Study Material of the “Indian Economy” is segmented into 5 Sections. These sections are; Economic Planning in India, The horizon of Indian Economy, Government Schemes & Programmes in India, Money and Banking and International Agencies and Trade.
Darjeeling tea was the first product that got a GI tag in India in 2004–05. Till now around 365 products have been added to the GI list. Recently Kashmir saffron and black rice of Manipur got the GI tag. Read this article to know the full list of GI tagged products in India.
MSME Definition 2020: The Micro Small and Medium Enterprises (MSMEs) are classified as per the MSME Act-2006. In the economic package to the MSME sectors of the country, FM Sitharaman has provided 3 lac crore loan to boost up this sector.
Crowdfunding is a method of raising capital through the collective efforts of a large number of individual investors. Crowdfunding is done primarily online via social media and websites. Read this article to know the types and benefits of Crowdfunding.
Trade-Related Aspects of Intellectual Property Rights (TRIPS) covers most forms of intellectual property including copyright, patents, geographical indications, trademarks, industrial designs, trade secrets, and exclusionary rights over new plant varieties. TRIPS came into force on 1 January 1995.
Geographical indication is a name or mark given to products, agriculture, natural and manufactured products (sweets, handicrafts, and industrial goods) of a particular region (country or state or a town). Recently, Kashmiri Saffron has been given the Geographical Indication (GI) tag. Now Kashmiri saffron will get a different identity in the market.
India’s HDI ranking in 2019 is 129 that is one rank better than last year. There are a total of 189 countries participated in this rank. Top HDI rank is occupied by Norway while Burundi is at the bottom in 2019 report. Read this article to know more International Reports and India's Rank in various Indexes.
FDI limits in different sectors in India 2020: India has attracted total FDI amount US$ 62,001 million in 2018-19. The service sector has the highest share in India's FDI share amount of US$ 80,670.79 from April 2000 to December 2019. Agriculture & Animal Husbandry, Auto components, and E-commerce activities have the permission of 100% FDI through automatic route.
A mutual fund is a pool of collective investment in stocks, bonds, and other short term investments. The investors in mutual funds are individuals and institutions. This fund is usually managed by a fund manager who charges money from the investors for taking care of their investments.
15th Finance Commission is headed by Mr. N.K. Singh. The Finance Commission is set up by the President of India for a period of 5 years. The period of the 15th Finance Commission would be from 2021 to 2026. Read this article to know the Facts, Members, and Terms of Reference of the 15th Finance Commission for the FY 2020-21
The 14th Finance Commission of India is constituted under the chairmanship of the former RBI governor Mr. Y.V. Reddy for the period of April 1, 2015, to March 31, 2020. Now the 15th Finance Commission has been set up under the chairmanship of N.K. Singh. He has submitted his annual report for 2020-21.
Brent crude oil and WTI (West Texas Intermediate) are benchmarks of crude oil prices at the international level. The crude oil which is extracted from the North Sea near Norway, Sweden and UK while the crude oil extracted in the USA is benchmarked as the WTI (West Texas Intermediate) prices.
Mauritius has the highest FDI inflow (31% of the total Indian FDI) in India From April 2000 To December 2019. The Indian economy is composed of the three major sectors like i.e., Services sector, Industry sector, and Agriculture sector. The contribution of the Services sector in the Indian economy is around 54.30%. The Value of India's Export stood at US$ 356.96 billion in between April-November 2019.
The finance commission is constituted by the president of India under the provision of Article 280 of the Indian constitution for five years. The tenure of the 14th finance commission was April 1, 2015 to March 31, 2020. Currently, 15th finance commission is in progress which is headed by the N.K. Singh.