The 11 Nationalized Banks which were Nationalized in1969 (14 banks) and 1980 (6 banks) through "THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970 and 1980 (Also referred as Bank Nationalization Act)". Later on various Nationalized banks were merged together, so now only 11...
Parliament Passed Mines and Minerals (Development & Regulation) [MMDR Act 1957] Amendment Bill, 2023 The amendment introduces major reforms in the mining sector which includes: Omission of 6 minerals from the list of 12 atomic minerals specified in Part-B of the First Schedule of the Act, namely,...
India has 62.5% of its population in the age group of 15-59 years which is ever increasing and will be at the peak around 2036 when it will reach approximately 65%.These population parameters indicate an availability of demographic dividend in India, which started in 2005-06...
What Is the Lemons Problem?The lemons problem refers to issues that arise regarding the value of an investment or product due to asymmetric information possessed by the buyer and the seller. The theory of the lemons problem was put forward in a 1970 research paper...
The St. Petersburg paradox is a famous thought experiment in probability theory and economics. It was introduced in the early 18th century by Daniel Bernoulli's cousin, Nicolas Bernoulli. The paradox revolves around a hypothetical gambling game where a player pays an entry fee and flips...
What Is Hysteresis?Hysteresis in the field of economics refers to an event in the economy that persists even after the factors that led to that event have been removed or otherwise run their course. Hysteresis often occurs following extreme or prolonged economic events such as...
Fiscal Deficit (Centre + States) has come down from 13.3% in 2020-21 to 8.9% (5.9% + 3%) in 2023-24Debt (Centre + States) has come down from 89.6% in 2020-21 to 85.7% (56% + 29.7%) in 2022-23 If economic growth rate is higher than interest rate (cost...
The Price Stabilization Fund (PSF) was set up in 2014-15 under the Department of Agriculture, Cooperation & Famers Welfare (DAC&FW) to help regulate the price volatility of important agri-horticultural commodities like onion, potatoes, tomatoes, pulses etc. The PSF scheme was transferred from DAC&FW to the...
Inflation is an economic concept that refers to the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of a currency is falling. Inflation is typically expressed as an annual percentage, indicating the percentage increase...
As per NITI Aayog Report, which is based on National Family Health Survey (NFHS) 2019-21, the Multidimensional Poverty (MP) has come down. ...