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  • What is the role of Finance Commission in Fiscal Federalism?

    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.

    Apr 17, 2020
  • List of Welfare Programmes by the Government of India

    Pradhan Mantri Gram Sadak Yojana, Rashtriya Swasthya Bima Yojana, Antyodaya Anna Yojna, and  Bharat Nirman, are some important programmes of government of India to upgrade the welfare of the poor citizens of the country.

    Apr 17, 2020
  • How does IMF give loan to its Members?

    The International Monetary Fund (IMF) was established in July 1944 in the Conference of 44 countries held in Bretton Woods, New Hampshire, USA. India is the founding member of the IMF. Recently, the IMF has granted US$ 1.4 billion aid to Pakistan to fight COVID-19.

    Apr 17, 2020
  • List of Five Year Plans before the Liberalisation in India

    The duration of the first five-year plan was 1951 to 1956. The main target of the first five-year plan was Agricultural development of the country. This plan was based on the Harrod-Domar model. Before the liberalisation, India had launched 7 five year plans.  

    Apr 14, 2020
  • Per Capita Income of Indian States 2019-20

    The per-capita net national income of India rised to Rs 1,35,050/annum in 2019-20. This was 1,26,406 during 2018-19. In terms of NSDP per capita (INR at Current prices), Goa has the highest per capita income Rs 467,998 in FY 2018-19. Delhi is on second place with Rs. 365,529.

    Apr 7, 2020
  • What are the key features of Payments Banks in India?

    Currently, there are 6 payment banks operating in India which were initially 11. The guidelines for the establishment of payment banks were issued on 24 November 2014 by the Reserve Bank of India. Payment banks will be allowed to open a savings account and current account but they can't issue a credit card.

    Apr 1, 2020
  • Provident Fund, National Savings Certificate, Kisan Vikas Patra: Meaning and current rate of interest

    National Savings Certificate, Fixed deposits, Provident Fund, and Kisan Vikas Patra are some products launched to increase saving habit in the general public.These are some products to get stable return. Let us have a look on the rate of interest offered on these products.   

    Apr 1, 2020
  • Reserve Bank of India: History, Establishment, Objectives and Functions

    Reserve Bank of India (RBI) was established on 1 April 1935 by the RBI Act 1934. The key functions of RBI are to; print the currency notes, work as the custodian of foreign exchange reserve, controller of credit and banker’s bank.

    Mar 31, 2020
  • What are the main functions of Reserve Bank of India?

    Reserve Bank of India (RBI) is the Central Bank of India. RBI was established on 1 April 1935 by the RBI Act 1934. Key functions of RBI are, banker’s bank, the custodian of foreign reserve, controller of credit and to manage printing and supply of currency notes in the country.

    Mar 31, 2020
  • Banking Merger in India: Meaning and Benefits

    Banks Merger in India: The Finance Minister Sitharaman had announced the merger of 10 Public Sector Banks into four on August 30, 2019. This merger is approved by the union cabinet on 4 March 2020. The merger would be effective from April 1, 2020. Now the number of Public Sector Banks would be reduced to 12 from 27 of 2017.

    Mar 31, 2020
  • Pradhan Mantri Ujjwala Yojana (PMUY): All you need to know

    Pradhan Mantri Ujjwala Yojana (PMUY) is the Scheme for providing LPG connections to the women belonging to the Below Poverty Line (BPL) families. The scheme has been implemented by the Ministry of Petroleum and Natural Gas. Let us read in detail about Pradhan Mantri Ujjwala Yojana, its benefits, how to apply for it, etc.

    Mar 27, 2020
  • Why is India Constructing Strategic Petroleum Reserves?

    Strategic Petroleum Reserves: India is making strategic petroleum reserves to store crude oil under the ground. India has already underground caves of 5.33 MMT storage in three places. These include; Padur (2.5 MMT), Visakhapatnam (1.33 MMT), and Mangalore (1.5 MMT).

    Mar 20, 2020
  • List of Top 10 Products Exported from India

    As per the Economic Survey 2019-20; Petroleum products are the biggest exporting item from India. It accounts for a 14% share of total Indian export followed by precious stones with 7.87%. Read this article to know the list of all the exporting items from India in 2019-20.

    Mar 14, 2020
  • Index of Industrial Production (IIP): A detailed information

    The Index of Industrial Production (IIP) is an indicator that measures the changes in the volume of production of industrial products during a given period. It calculates the data of eight core sectors. IIP’s current base year is 2011-12 since May 2017.

    Mar 13, 2020
  • What are the differences between Wholesale Price Index & Consumer Price Index?

    The difference in CPI and WPI: Wholesale Price Index (WPI) and Consumer Price Index (CPI) are two widely used indexes to calculate the inflation in the country. India uses the WPI index to calculate inflation while most of the countries use CPI for the same.

    Mar 12, 2020
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