akupsc

New Economic Policy/Industrial Policy/LPG Model  Why was NEP introduced? In 1956 the economic policies which were formulated continued for long. Although the country and economic conditions were changing but the policies remained the same. The existing policies failed to fulfill the need of changing global and domestic conditions. When was new economic policy introduced ? The East India Company had come to India in order to conduct the business but it ruled the country for long. So the country was a scared. Foreign investment in the country remained restricted under Nehru- Mahalanobis approach. Since India was not self-sufficient, its import remained higher as compared to the export. For this India had to borrow foreign currencies in order to bridge the gap. In order to repay the loan, the country had to borrow again. It became a situation of debt trap. Because of not having enough foreign currencies, India fell into Balance of Payment Crisis in 1990-91. This situation ...

What is Macroeconomics, definition & example? Macroeconomics is a particular branch of economics that examines the behaviour and performance of an economy as a whole.  Looking at a country’s wider economic picture, it focuses on the aggregate changes in an economy, such as unemployment, growth rate, GDP, inflation and more.  As a field of study, it attempts to measure how well an economy is performing, understand what forces drive it, and how its performance can be improved. Researchers will look at two main areas: long-term economic growth and performance in shorter-term business cycles.  What is Microeconomics, definition and example ? The opposite of macroeconomics is microeconomics - a branch of economics which examines the financial decision-making process of individuals, households and businesses. Generally, it applies to markets of goods and services, dealing with individual and economic issues, including: what buying habits people have, what factor...

Demolition as a State-sanctioned collective punishment-: Why in news? Recently in Nuh, Haryana several houses in the neighborhood were Demolished by the bulldozers after the riots . Some similar incidents have been seen in Uttar Pradesh and madhya pradesh as well.  What is Argument of state Governments? State governments justify that these Demolition a re done to remove illegal structures or encroachments . It is argued by the state governments that the Demolition of the houses of criminals is an attempt at marginal justice.  The state governments also say that in view of the increasing trend of crimes at present, the state needs to go beyond the limits of the law to provide justice so that peace and order can be maintained in the society.  Concerns about state Demolition-: Not taking such steps by the states is not only legal but it is also morally wrong.  Demolition the house of a criminal is not just justice, but it is a distorted and tradi...

The concept of Maharatna, Navratna and Miniratna  In order to provide financial autonomy to the public sector companies, the concept of Navratna and Miniratna was introduced in 1997. The concept of Maharatna was introduced later in 2009. In order to categorise a company as Maharatna Company  the following conditions have to be fulfilled:- ● It should be a public sector company. ● It should be listed on the stock exchange. ● It should have a global presence. ● It should be an existing Navratna company. ● In last 3 years average annual revenue of the company should not be less than 25,000 crore rupees. ● In last 3 years average annual net worth of the company should not be less than 15,000 crore rupees. ● In the last three years average annual profit of the company should not be less than 5,000 crore rupees. Maharatna company may do a capital investment of upto rupees 5,000 crore or up to 15% of its net worth (whichever is less), in one financial year with...

What is the problem with Sri Lanka ? Sri Lanka has been in a serious crisis as a result of an unparalleled economic collapse. Due to its depleting forex reserves and crushing debt, the island had struggled to import basic commodities for its 22 million citizens. It had led to anti-government protests. India emerged as the largest contributor to the island nation.  Tourism had been the third-largest source of foreign exchange for the nation. After the 2019 Easter Sunday suicide attacks, which claimed more than 250 lives tourism got affected. The number of visitors decreased by as much as 70%. The tourism sector was severely harmed by the Covid-19 pandemic. Even the exports of tea, rubber, spices and garments suffered.  What caused sri-lanka crisis? The government’s ban on chemical fertilizers in order to make Srilanka an organic nation heavily backfired. Production fell and inflation soared. The Chinese debt trap diplomacy affected the nation very badly. The Fiscal ...

15 August /Independence day (India) Introduction: The 15th of August holds immense significance in the history and collective consciousness of the Indian nation. It is the day when India commemorates its hard-fought independence from British colonial rule, marking the birth of a sovereign nation.  Historical Context: India's struggle for independence spanned several decades, with notable leaders and movements shaping and spearheading the fight against British rule. Mahatma Gandhi's philosophy of non-violence and civil disobedience became a cornerstone of the independence movement, unifying diverse sections of Indian society in their quest for freedom. Key Events Leading to Independence:- 1. The Indian National Congress (INC):  Formed in  1885, the INC became a pivotal platform for political expression and mobilization against British rule. Led by prominent leaders like Dadabhai Naoroji, Bal Gangadhar Tilak, and Jawaharlal Nehru, the organization played a pivot...