Three new Gold Schemes Launched By Union Government: As a part of Union Budget 2015-16, Union Government launched three gold related scheme viz Gold Monetization Scheme (GMS), Sovereign Gold Bond Scheme (SGBS) and Indian Gold Coins (IGC). These ambitious schemes were launched to reduce the physical demand for gold and fish out 20,000 tonnes of the precious metal lying idle with households and institutions. Gold Monetisation Scheme (GMS) 2015 GMS 2015Read More
Category: Economy
Latest Economy Articles for UPSC, SSC, Banking
NITI Aayog (National Institution for Transforming India): National Institution for Transforming India or NITI Aayog is a policy think-tank of Government of India. It replaces Planning Commission and aims to involve the states in economic policy-making in India. It will be providing strategic and technical advice to the central and the state governments i.e. by adopting bottom-up approach rather than traditional top-down approach as in planning commission. The Prime Minister of India will head the NITI Aayog asRead More
Pradhan Mantri Jan-Dhan Yojana (PMJDY) – Financial Inclusion Scheme Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Under Pradhan Mantri Jan-Dhan Yojana (PMJDY) scheme: Account holders will be provided zero-balance bank account with RuPay debit card, in addition to accidental insurance cover of Rs 1 lakh(toRead More
Shanta Kumar Committee Report – FCI restructuring: Government of India had set up a High Level Committee (HLC) in August 2014 with Shri Shanta Kumar as the Chairman to suggest restructuring or unbundling of FCI with a view to improve its operational efficiency and financial management. HLC was also asked to suggest measures for overall improvement in management of foodgrains by FCI; to suggest reorienting the role and functions of FCIRead More
Mint Rural Distress Index: The index provides equal weightage to fall in farm wage growth, which affects the purchasing power of agricultural labourers, and fall in tractor sales growth, a proxy for rural sentiment and demand.The index captures more than just a fall in agricultural production, which is only one aspect of the rural economy in India. Three components of Mint rural distress index are: Growth of farm output Rural wages TractorRead More
Minimum Support Price Calculation- Ramesh Chand Committee: The committee was constituted by the Union agriculture ministry to examine the mandate of the Commission for Agricultural Costs and Prices (CACP) and various aspects of fixation of minimum support price (MSP). In its recommendations, it has suggested a complete revamp of methodology to calculate MSP and introduction of mechanisms, such as Deficiency Price Payment (DPP) or Price Insurance (PI) for price surety,Read More
Economy topics for UPSC 2015: Jan Dhan Yojana: Read about this Here: NITI Aayog (National Institution for Transforming India): Read about Niti Aayog Here: Shanta Kumar Committee – FCI Restructing: Read the Main points of the Report Here: Mint Rural Distress Index: A Mint index of rural distress is based on the growth of farm output, rural wages and tractor sales. Read more about Mint Rural Distress Index Here: DDRead More