UPSC Economics Quiz Notes PDF
05 Oct 2024 04:44
💰GST Collection of Previous Months
🔸January 2024 – 1.72 lakh crore
🔸February 2024 – 1.68 lakh crore
🔸March 2024 – 78 lakh crore
🔸April 2024 – 10 lakh crore
🔸May 2024 –73 lakh crore
🔸June 2024 –74 lakh crore
🔸July 2024 –82 lakh crore
🔸August 2024 – 1.75 lakh crore
🔸September 2024 – 1.73 lakh crore
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UPSC Economics Quiz Notes PDF
05 Oct 2024 04:44
Money laundering:
"Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions."
Money laundering typically includes three stages: placement, layering and integration stage.
✏️Placement is the first step of money laundering which is the process of moving the money into the legitimate source via financial institutions, casinos, financial instruments etc. and at the same time, hiding its source.
✏️The second stage is “layering”, also referred as “structuring stage”. It breaks the funds into small transactions and makes it difficult to detect and find out about the laundering activity. It usually entails international money movement, so the law enforcement agencies won’t be able to track the financial gains from illegal proceedings so easily.
✏️The third stage is Integration stage, In this stage, money is now returned to the criminals legitimately after it has been placed in the financial system, often breaking it into different multiple smaller financial transactions. Criminals can now retrieve their illicit funds in a legal way after fully integrating them into a legitimate source, and are able to use them for any purpose.
"Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income."
⏺Prevention of Money Laundering Act (PMLA), 2002 is an Act of the Parliament of India enacted by the government to prevent money-laundering and to provide for confiscation of property derived from money-laundering. PMLA and the Rules notified there under came into force with effect from July 1, 2005.
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UPSC Economics Quiz Notes PDF
24 Sep 2024 05:12
📌NeoBanks
📌Main Points 👇
🔹1st:- A neobank is a kind of digital bank without any branches & is entirely online.
🔹2nd:- Give customers a cheaper alternative to traditional banks.
🔹3rd:- Neobank provides services like payments, debit cards, money transfers, lending.
🔹4th:- These firms don't have a bank licence of their own but rely on bank partners to offer licensed services,because the Reserve Bank of India (RBI) doesn’t allow banks to be 100% digital yet.
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UPSC Economics Quiz Notes PDF
24 Sep 2024 05:12
📌Civil Registration System (CRS)
📌Main Points👇
🔹1st:-
Popularly known as birth and death registration system, is the recording of vital events i.e. Birth, Death & Still Birth under the statutory provisions on continuous and permanent basis.
🔹2nd:-
It is done under The Registration of Births and Death Act (RBD Act) 1969.
🔹3rd:-
Nodal Authority: Registrar General of India
🔹4th:-
CRS falls under the Concurrent list of the Constitution
🔹5th:-
The data generated through a complete and up-to-date CRS is essential for socio-economic planning.
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UPSC Economics Quiz Notes PDF
23 Sep 2024 08:09
📌Centre for Rural Enterprise Acceleration through Technology (CREATE)👇
✔️Main Points 👇
🔹1st:- Recently, the union Minister for Ministry of Micro,Small & Medium Enterprises (MSME) inaugurated the Centre for Rural Enterprise Acceleration through Technology (CREATE) setup at Leh through virtual mode.
🔹2nd:- It will enhance local productivity, product quality, and economic potential and improve livelihoods for the local communities.
🔹3rd:- It will help advance rural industrialization and foster enterprise creation, to retain the traditional artisans particularly in regions like Ladakh.
🔹4th:- CREATE will provide
A Pashmina Wool Roving Facility.
👈5th:- Training for development of production facility for Essential Oil Extraction from Roses and Other Flowers and Training for development of production facility for Bio-processing of available fruits and other raw materials.
🔹6th:- The machinery required for Pashmina wool roving has been installed, commissioned and is ready for operation.
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UPSC Economics Quiz Notes PDF
23 Sep 2024 08:09
📌PMJDY Empowered Women Financially 👇
📌Main Points 👇
🔹1st:- 29.56 Crore Accounts Opened by Women, 69% of Mudra Loans Directed to Female Borrowers
🔹2nd:- Over the past ten years, PMJDY has not only brought millions of previously unbanked households into the financial fold but has also emerged as a powerful tool for women's empowerment. The initiative has successfully opened 53.13 crore bank accounts.
🔹3rd:- The percentage of women who own and use a bank or savings account has surged from 53% in the National Family Health Survey-4 (2015-16) to 79% in the National Family Health Survey-5 (2019-21).
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UPSC Economics Quiz Notes PDF
20 Sep 2024 05:57
📌World Economic Forum ( WEF )
✔️The World Economic Forum is the International Organization for Public-Private Cooperation.
✔️Established in 1971
✔️Not-for-profit foundation
✔️Headquartered in Geneva, Switzerland.
Major Reports
✔️Energy Transition Index.
✔️Global Competitiveness Report.
✔️Global IT Report
✔️WEF along with INSEAD, and Cornell University publishes this report.
✔️Global Gender Gap Report
✔️Global Risk Report
✔️Global Travel and Tourism Report
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UPSC Economics Quiz Notes PDF
20 Sep 2024 05:57
✅Open Market Operations(OMOs)
OMOs is one of the quantitative monetary policy tools which is employed by the central bank of a country to control the money supply in the economy.
It is a part of the Market Stabilization Scheme (MSS) by the RBI.
OMOs are conducted by the RBI by way of sale or purchase of government securities (g-secs) to adjust money supply conditions.
The central bank sells g-secs to remove liquidity from the system and buys back g-secs to infuse liquidity into the system.
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UPSC Economics Quiz Notes PDF
19 Sep 2024 05:26
📌Malnutrition in India👇
📌Main Point👇
#1st:- Global Hunger Index (GHI) 2022: India ranked 107 out of 121 countries in the Global Hunger Index (GHI) 2022.
#2nd:- The GHI is an important indicator of nutrition, particularly among children, as it looks at stunting, wasting and mortality among children, and at calorific deficiency across the population.
#3rd:- National Family Health Survey (NFHS-5): India’s National Family Health Survey (NFHS-5) from 2019-21 reported that in children below the age of five years, 35.5% were stunted, 19.3% showed wasting, and 32.1% were underweight.
#4th:- The State of Food Security and Nutrition in the World 2020 report: According to report nearly 51.4 percent of women of reproductive age in India were suffering from anaemia.
#5th:- Almost 50 percent of women are facing severe undernutrition and Anaemia.
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UPSC Economics Quiz Notes PDF
17 Sep 2024 05:47
📌Human Capital Index
✔️It was launched in 2018 as part of the Human Capital Project, a global effort to accelerate progress toward a world where all children can achieve their full potential.
✔️Released by World Bank
✔️It measures the following criteria :-
✅Mortality rates of children under 5 years
✅Expected years of Quality-Adjusted Schooling
✅Health Environment as indicated by:- Rate of stunting in children under 5 years and Adult survival rates
✔️India has ranked 115 out of 157 countries
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UPSC Economics Quiz Notes PDF
17 Sep 2024 05:47
📌Liquidity Trap
✔️A liquidity trap is an economic phenomenon that occurs when the central bank's efforts to stimulate the economy through monetary policy become ineffective.
✔️In a liquidity trap, interest rates are already low, but people and businesses are still not investing or spending enough to boost the Economy.
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UPSC Economics Quiz Notes PDF
17 Sep 2024 05:45
📌Corporate Debt Market Development Fund(CDMDF)
✔️About👇
✔️The Corporate Debt Market Development Fund (CDMDF) is a backstop facility for specified debt funds during market dislocations.
✔️The fund is intended to provide liquidity support in the event of a financial crisis.
✔️The proposed Corporate Debt Market Development Fund(CDMDF) will have an initial corpus of Rs 3,000 crore contributed by mutual funds.
✔️The government has approved a 10-time leverage of the fund (Additional corpus), thus Corporate Debt Market Development Fund(CDMDF) may raise funds up to Rs 30,000 crore.
✔️Contributions to the fund can be done by the specified debt-oriented mutual fund schemes and asset management companies of mutual funds.
✔️This fund is guaranteed by the National Credit Guarantee Trust Company (NCGTC) and the backstop facility will be managed by SBI Mutual Fund.
✔️Recently:- the Securities and Exchange Board of India (SEBI) has introduced the ‘Corporate Debt Market Development Fund’ to prevent financial crisis.
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UPSC Economics Quiz Notes PDF
15 Sep 2024 15:16
📌Malnutrition in India👇
📌Main Point👇
#1st:- Global Hunger Index (GHI) 2022: India ranked 107 out of 121 countries in the Global Hunger Index (GHI) 2022.
#2nd:- The GHI is an important indicator of nutrition, particularly among children, as it looks at stunting, wasting and mortality among children, and at calorific deficiency across the population.
#3rd:- National Family Health Survey (NFHS-5): India’s National Family Health Survey (NFHS-5) from 2019-21 reported that in children below the age of five years, 35.5% were stunted, 19.3% showed wasting, and 32.1% were underweight.
#4th:- The State of Food Security and Nutrition in the World 2020 report: According to report nearly 51.4 percent of women of reproductive age in India were suffering from anaemia.
#5th:- Almost 50 percent of women are facing severe undernutrition and Anaemia.
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UPSC Economics Quiz Notes PDF
15 Sep 2024 15:13
📌Technical Recession
📌Main Points 👇
🔹1st:-
Consecutively two quarters of economic contraction.
🔹2nd:-
It lasts for a shorter period of time.
🔹3rd:-
It is mainly used to snapshot the trends in GDP.
🔹4th:-
Only GDP is the criteria to measure technical recession.
🔹5th:-
Recession — Slowdown or a massive contraction in economic activities for a long enough period.
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UPSC Economics Quiz Notes PDF
15 Sep 2024 15:10
📖 Concept of National Income 📖
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National income estimates are the most reliable macroeconomic indicators of an economy. Therefore, it is essential for students to be aware of National Income Concepts. Changes in national income measure the rate of growth of the economy.
Similarly, changes in the structure of national income of an economy reflect the changing significance of different sectors. In India,
national income, as also per capita income, have been continuously increasing. In more recent years, the rate of growth of national income has
accelerated. It indicates that the economy has been growing at a faster rate in recent years than in the past. Along with this, the structure of national income has also undergone a change, the tertiary sector has emerged as the dominant sector of the economy.
National income accounting comprises of four concepts of calculations- GDP, NDP, GNP, NNP.
1. Factor cost is the input cost that producer has to incur in the process of production. It includes cost of capital – loan inetrest, prices of raw materials, labour, power, rent, etc. Can be termed as Production cost.
2. Market cost is calculated after adding indirect taxes to the factor cost of the product. It is basically the cost at which the goods reach the market. Also termed as EX-FACTORY PRICE. In India we calculate income at factor cost because of non-uniform taxes.
➖National Income:The sum total of factor of incomes accruing to the residents of the country, both from their activities within and outside the economic territory is the national income of the country.
➖National income is calculated for a particular period, normally a financial year (In India, financial year means April 1 to March 31 of next year). Net factor income from abroad is added to the domestic product to get the value of National Income.
➖National Income = C + I + G + (X – M)
Where,C = Total consumption expenditure
I = Total investment expenditure
G = Total government expenditure ; X – M = Export – Import
🔹 Gross Domestic Product (GDP)
Gross domestic product is the value of all final goods and services produced within the boundary of a nation during one year. In India one year means from 1st April to 31st March of the next year.
GDP calculation includes income of foreigners in a Country but excludes income of those people who are living outside of that country.
🔹 Net Domestic Product (NDP)
NDP is calculated by deducting the depreciation of plant and Machinery from GDP.
NDP = Gross Domestic Product – Depreciation
🔹 Gross National Product (GNP)
GNP is the value of all final goods and services produced by the residents of a country in a financial year (i.e., 1st April to 31st March of the next year in India).
While Calculating GNP, income of foreigners in a country is excluded but income of people who are living outside of that country is included. It is the GDP of a country added with its income from abroad.
GNP = GDP + X – M
Where,X = income of the people of a country who are living outside of the Country
and M = income of the foreigners in a country
➖India’s GNP is always lower than its GDP.
➖This is the national income according to which the IMF ranks nations.
➖It allows for knowledge of factors in production behaviour and pattern of an economy’s dependence on outside world, nature of human resources internationally, position in world economics.
➖It indicates both qualitative as well as quantitative aspects of an economy in a more exhaustive fashion than GDP.
Intermediate products = one production unit purchasing from other for resale
Final product = all goods and services purchased for consumption and investment , and not for resale
Value added = Value of output – Intermediate cost
Gross value added = net value added + depreciation
Indirect tax = all taxes levied on production, finally paid by consumer of buyer Ex – sales tax, excise, customs
Subsidies = Financial help given by the government to the production units for selling the product at lower prices.
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