Indian Economy

Poverty is the state of extreme economic poorness, wherein the person does not have enough money to fulfill basic needs such as food, cloth, and shelter. People who live in poverty have little to no access to proper healthcare, education, clean water, and other basic human rights. For any country to progress, its poverty levels […]

Recently, corruption and governance have elevated the importance of policy discussion groups in developing nations. Several of the issues raised by corruption and governance are significant and have existed for a long time.  However, the way they have been reviewed by mainstream economics merely offers help for a curriculum of market-enhancing initiatives.  Governance refers to

Banks are the sole entities that record the finances and savings done by people. In the scenario of economic construction, the banks curate policies that safeguard a country’s finances. In addition, banks also provide various saving options, loans, and credits. A bank handles accepting deposits, discounting bills of exchange, and other functions. In India, the

The Reserve Bank of India is the backbone of the Financial System of the country. It has been entrusted by the people and the Government to control, supervise and promote the flow of money in the market. It also takes part in planning and development to maintain economic stability of the country and take the

Foreign Trade Policy Foreign trade policy is mainly a set of rules that govern the exchange of products and services. These are formed by the Directorate General of Foreign Trade, the Ministry of Commerce and Industry’s ruling body for the advancement and facilitation of exports and imports. This policy remains in focus for a five-year

At least once in your history or political science textbooks, you have come across the five-year plan topic. It is very important to know what a five-year plan is if you want to understand India’s economic history. The Five-year plan was an economic initiative drafted by India’s first Prime Minister, Jawaharlal Nehru. This economic plan

Trade, forex investment, budget deficits, the balance of payment, capital account, current account, and other economic operations in foreign currency fall within India’s external sector. However, the most potent elements driving economic cooperation are trade and forex.  The phrase ‘trade’ involves the exchange of products, commodities, or commerce between individuals. Also, the forex exchange reserves

Society is formed by civilised people who indulge in day-to-day transactions. These transactions are based on cultural values, human interactions and economic and financial decisions. Economics is the language and theory of these interactions. It is concerned with the consumption of goods and services that help regular functioning. Few theorists regard it as a social

C.Rangarajan prepared the eleventh five year plan and the main theme or vision of the eleventh five year plan was “more inclusive and rapid growth”. Targeted growth rate during the eleventh five year plan was 9% while the achieved growth rate during the eleventh five year plan was 8%. This five year plan gives priority

India’s reform strategy launched in July 1991 provided a combination of macroeconomic stability and structural adjustment. It is guided by short-term and long-term goals. In order to restore the balance of payments and curb inflation, stability is needed in the short term. At the same time, changing the structure of the institution itself through reform