Prevoius years

8.2% of revised target growth rate
134 rank india in ease of doing business

*-->read once

*double counting is an error where by an transaction is counted more than once, for whatever reason

CSO---> central statistical organization

variable costs

base year:- the year used for the comparision for the level of a particular economic index

NOTES

Disguised unemployment:- when more people are engaged in some activity than the number of persons required for that, this is called disguised unemployment.

OPEC 
Budget:- constitutional requirement
vote on account--->temporary budget
and then they have to form next budget
common fund---->consolidated fund
Excise---tax of industries
b/w the states

calculation of inflation?
60% of irrigation depends on the south-west monsoon & just 40% on irrigation.
consumer price index
whole sale price index
how to measure role of technology in economic growth
markets

selling costs
consumer surplus

WIPO--->world intellectual property organization

patent--->
process patent
product patent

Indian national patent office is in Kolkata
perfect competition never existed

cartel

great depression
components of macro economics
aggregate demand, supply
public spending
budgetary
taxation
role of extra spending

depression--->declining investment--->leads to decline in demand
                                                             --->decline in employment
stagflation---->stagnation+inflation

monetarists

Govt income
tax revenue
non-tax revenue

deficit financing
ex: 10000 cr. income to govt
15000 cr. spent money
so developing countries print extra money and they pump money so private sectors are attracted to grab money and they invest.

circular flow of money
in india progressive taxation as income increases tax also increases

GDP--->3/5 th is based on consumption expenditure
western countries depends on production expenditure

tax GDP ratio--->10.9%
direct tax: corporate tax (large tax), income tax
exchange, customs duty, devaluation

is it good to circulate our currency outside the country

growth --->growth of national income
compared to last year 4.9% inc in national income of country

VAT--->value added tax

central statistical institution---CSO measures national income

economies---> shadow, black, parallel, phantom underground, black market

estimates equivalent to 40% of country's GDP

demand pull vs cost push inflation
 hyper inflation:- hue inc in % of inflation

urban non manual employees

cpi or wpi
60% of our NI comes from services sector
services are not included in whole sale where as included in retailers

OECD---->organization economic co operation & development

fiscal ploicy & monetary ploicy

purchasing power determines the value of currency

monetary authority---> RBI

money market--->RBI (short term funds)
capital market--->SEBI (long term funds)

SEBI---->security exchange board of india

nationalization of banks---> in 1949
1955, 1969, 1980
if more than 50% holds by govt. then the bank is called national bank

nationalized banks--26
pvt. banks--19
foreign banks--32
RRB's--79

co operative banks are controlled by NABARD even though it is called bank it is not a bank, it is just refinancing agriculture.

control methods
CRR--cash reserve ratio
BR
reverse-repo
SLR

by increasing crr interest rate inc and money from economy goes to bank

quantitative credit control methods or selective
fixing margin
credit rations
moral suasion
direct action
if forign banks are present in india transfer money easily with low cost than depositing money directly to indian banks

Global financial crisis---how it effected india ---how india escaped 

fiscal ploicy(gvt policies)
taxation policy--direct, indirect
public debt policy
public expenditure policy
budgetary policies---RD, BD, FD, PD
revenue deficit, budgetary deficit

MH370





Globalization, glocalisation 12 th five year plan quality of education & human resources
new economy policy--1991--->
LPG
liberali
privati
globali

structural adjustment loans--->new economic plans
IMF giving loan piece by piece depends on performance

policies--->BOLT
BOOT
BOT

Economics

Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability.

Globalization is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture.

Fiscal Deficit is an economic phenomenon, where the government's total expenditure exceeds the revenue generated.

Shutdown Point is the point at which the revenue received from the sale of goods or services produced cannot even cover the variable cost of production.

Macroeconomics is the branch of economics dealing with the performance, structure, behavior, and decision making of an economy as a whole rather than individual markets.

 Disposable Income is total personal income minus personal current taxes.

Marginal Revenue is the additional revenue that will be generated by increasing product sales by 1 unit.

Black money is the income obtained illegally or not declared for tax purposes.

Consumer Price Index measures changes in the price level of a market basket of consumer goods and services purchased by households.

Final Good is the commodity which is produced and subsequently consumed by the consumer, to satisfy current needs or wants.

Increasing Returns occurs if output increases by more than that proportional change in inputs.

Disinflation is the decrease in the rate of inflation - a slowdown in the rate of increase of the general price level of goods and services in a nation's GDP over time. It occurs when the increase in the consumer price level slows down from the previous period when the prices were rising.  

Present Base year for calculating national income, whole sale price is 2004-05.

About the Civil Service Examination

The civil services examination comprises two successive stages:
(i) civil services (preliminary) examination (objective type) for the selection of candidates for main examinations; and
(ii) civil services (main) examination (written and interview) for the selection of candidates for the varoius services and posts.

scheme and subjects for the preliminary and main examination.
A. preliminary examination
the examination shall comprise of two compulsory papers of 200 marks each.
note:
(i) both the question papers will be of the objective type(multiple choice questions).
(ii) the question papers will be set both in hindi and english. however questions relating to english language comprehension skills of class X level will be tested through passages from english language only without providing hindi translation thereof in the question paper.

B.Main examination
the written examination will consist of the following papers:
qualifying papers:
paper a: (one of the indian language to be selected by the candidate from the languages included in the eighth schedule to the constitution ). 300 marks
paper B: