Self reliance since independence Just after independence In the decades following independence, self-reliance in state-run heavy industries and strategic sectors had placed India ahead of most developing countries. In 1970s and 80s India’s industrial ecosystem was characterised by …
What is MFP? ‘Minor Forest Produce (MFP)’ means all non-timber forest produce of plant origin and will include bamboo, canes, fodder, leaves, gums, waxes, dyes, resins and many forms of food including nuts, wild fruits, Honey, Lac, Tusser etc. The …
What is 5G? 5G is next generation wireless network technology that’s expected to change the way people live and work. 5G enables a new kind of network that is designed to connect virtually everyone and everything together including machines, …
What’s in the news? Following is an analysis of economic impact due to COVID-19 pandemic by Professor of Economics Santosh K Mehrotra. Worse than 2008 crisis Comparing the present situation with the pre-2008 crisis, he said, the current situation is …
About heat waves: A Heat Wave is a period of abnormally high temperatures, more than the normal maximum temperature that usually occurs during the summer season in the North-Western parts of India. When does it occur? Heat Waves …
About locust: Locusts are the oldest migratory pest in the world which is mainly tropical grasshopper with strong powers of flight. They differ from ordinary grasshoppers in their ability to change behaviour (gregarize) and form swarms that can migrate …
About GST Council It is a constitutional body created by Article 279A (1). It is a joint forum of the Centre and the States with regards to GST. Composition of GST Chairperson – Union Finance Minister Members: Union Minister of …
About ICI The monthly Index of Eight Core Industries (ICI) is a production volume index. The objective of the ICI is to provide an advance indication on production performance of industries of ‘core’ nature before the release of Index of …
Gross Domestic Product Gross Domestic Product (GDP) is defined as the value of all final goods and services produced within the country in a particular year. GDP as an economic indicator is used worldwide to show the economic health of …
FRBM review committee In 2017, the FRBM (Fiscal Responsibility and Budget Management) Act review committee headed by NK Singh recommended the Central government to bring down the fiscal deficit to 3% of the GDP by 2020. Fiscal deficit = …