Economy

Ministry of Human Resource Development has announced a new PPP Scheme, National Educational Alliance for Technology (NEAT) for using technology for better learning outcomes in Higher Education. The objective is to use Artificial Intelligence to make learning more personalised and customised as per the requirements of the learner. This requires development of technologies in Adaptive … Read more

. The main objective of the committee was to recommend what needs to be done to revise and  strengthen the current monetary policy framework with a view to making it transparent and  predictable with a focus on inflation management. The group submitted its report in January, 2014 and inter-alia, made the following recommendations with regard … Read more

Net domestic product (NDP) represents the net book value of all goods and services produced within a nation’s geographic borders over a specified period of time. Net domestic product provides insight into the age or obsolescence of a country’s assets, as well as how much the country has to spend to maintain its current GDP. After all, if the country … Read more

Ministry of Commerce & Industry throughExport Credit Guarantee Corporation (ECGC) has introduced a new Export Credit Insurance Scheme (ECIS) called NIRVIK to enhance loan availability and ease the lending process.Enhanced cover will ensure that Foreign and Rupee export credit interest rates will be below 4%and 8% respectively for exporters.Under ECIS, insurance coverpercentage has also been … Read more

Labour reforms essentially mean taking steps in increasing production, productivity, and employment opportunities in the economy in such a manner that the interests of the workers are not compromised. “Essen­tially, it means skill development, retraining, redeployment, updating knowledge base of workers-teachers, promotion of leadership qualities, etc. The recommendation of NITI aayog are: Codification of labour … Read more

The Insolvency and Bankruptcy Code (IBC) was enacted in 2016 to facilitate a time-bound resolution for ailing and sick firms. It could either be through closure or revival, while protecting the interests of creditors. Under IBC, either the creditor (banks) or the loaner (defaulter) can initiate insolvency proceedings. It is done by submitting a plea … Read more

Over the years, the government has gradually withdrawn from direct management of public institutions, devolving governance to boards compromising academics, alumni and external members. Instead, it exerts indirect forms of control based largely on mechanisms such as performance-linked funding and quality recognition. The erstwhile regulatory regime of multiple bodies with conflicting and overlapping mandates has … Read more

End of license raj On 24 July 1991, Prime Minister Narasimha Rao announced the end of the license-permit Raj and Finance Minister Manmohan Singh presented a historic budget that rolled out economic liberalisation in India. It proposed getting rid of the Monopolies and Restrictive Trade Practices asset limit totally. Industrial licensing would be abolished for … Read more

Estimates Committee Estimates Committee was first established during British Era in 1920s but Independent India’s first Estimates Committee was established in 1950. This committee examines the estimates included in the budget and suggests ‘economies’ in public expenditure. The Estimates Committee has 30 members and all these members are from Lok Sabha. There is no Rajya … Read more

  Foreign Direct Investment Foreign Portfolio Investment FDI is an investment made by a company or individual in the business of another country in the form of either establishing a new business or acquiring the existing business. FPI is an investment made by a company or an individual in the stock markets or debt markets … Read more