Economics
Indian Economy notes for upsc and other exams, which we believe our aspirants should not skip.
G7 or Group Of Seven: Members, Origin, Latest News. UPSC
G7 is an informal grouping consisting of Canada, France, Germany, Italy, Japan, the UK, and the United States to discuss issues. All seven are top-ranked countries in terms of the highest net wealth per capita and are leading export nations. Apart from this, five are among the top 10 countries with the largest gold reserves. They account for over 46 per cent of the global gross domestic product and over 65 per cent of the world’s net national wealth.
Read More
Cryptocurrency : Decoding the New Form Of Digital Wealth. UPSC
Cryptocurrency is a new form of digital money without any official relation to any sovereign country or currency area’s legal tender. It is a peer-to-peer version of electronic cash. Bitcoin, created by Satoshi Nakamoto, is considered the first cryptocurrency. However, there was a pioneer in the field of cryptocurrency, the eCash system by DigiCash Inc. However, based on the general conditions of crypto money, Bitcoin is considered the first one.
Read More
MSP or MINIMUM SUPPORT PRICE IN AGRICULTURE. UPSC Economics
A minimum support price or MSP is a risk mitigation or market intervention strategy that ensures a minimum price for 23 crops against any sharp change in farm prices. The central government will announce the MSP or minimum support price before the sowing season based on the CACP or the “commission for agricultural costs and prices”. After the harvest, the farm produce would be directly brought by the notified government agencies like FCI, NAFED, etc.
Read More
Measures of money supply in India or aggregate monetary resources | UPSC Economics.
We spend money to purchase goods and services, isn’t it? Our spending power is represented by the quality of cash or liquid assets circulating in an economy.Now, think about what will happen if the money supply increases without control. Yes, this will lead to a serious problem- Inflation. An increase in the money supply will […]
Read More
THE STORY BEHIND INFLATION PUZZLE: TYPES OF INFLATION EXPLAINED
Inflation is a sustained rise in the price of goods and services in an entire economy. Inflation erodes the purchasing power of money. It affects the common person more because, due to inflation, they will be compelled to spend more of their income on their consumption.
Read More
Fascinating role of burgers in calculating purchasing power parity
What is Burger’s role in calculating purchasing power parity? Do you believe us if we tell you there is a pivotal role?
The Economist calculates and publishes a purchasing power parity index by utilizing the price of McDonald’s Big Mac burger. This index is known as BMI or “Big Mac Index.”
Origin and History of Reserve Bank of India
The history of currency usage in India dates back to the ancient Vedic period. The later period was an era of standardised metal coins. In “Arthsatra” by Chanakya, we can notice references to various coins like Suvarnarupa or gold coins, Rupayarupa or silver coins, Tamararupa or copper coins, and Sisarupa or lead coins. However, during […]
Read More
DISCOVER THE COMPLETE EVOLUTION OF PETROLEUM PRICING IN INDIA.
To get a complete idea of the evolution of oil petroleum pricing, we should start from the time of pre-independence period. EVOLUTION OF PETROLEUM PRICING IN INDIA BEFORE INDEPENDENCE – In the initial days of 1886, Indian petroleum consumers were completely dependent on American imports because oil in Middle Eastern countries had not been discovered. […]
Read More
DISCOVER THE VALUABLE INSIGHTS FROM THE “ALL INDIA HOUSEHOLD CONSUMPTION EXPENDITURE SURVEY” –
On Saturday, the government released all India household consumption expenditure survey carried out between August 2022 and July 2023. The new survey was released after an interval of 11 years. This survey will be pivotal in reviewing critical economic indicators like GDP, CPI, Poverty levels, etc. The household consumption expenditure survey is designed to collect […]
Read More
DISCOVER THE HIGHLIGHTS OF THE INTERIM BUDGET.
Analysis of 2024 interim budget. FARMERS WELFARE. F.M. used the term Annadata for farmers. There is no hike in PM-KISSAN SAMMAN Yojana from ₹6000 per year. Direct financial assistance is given to 11.8 crore farmers in India. All agro-climatic zones will get Nano-DAP. A bottle of nano-DAP costs 50% -55% less than an equivalent 50kg […]
Read More