Economics for UPSC Pre & Mains🙂


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I will share some important stuffs daily which will help both in Prelims as well as Mains phase of UPSC

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#OneConceptOneDay initiative

Buliding on yesterday's concept....

(I am adding 2 small topics in this..so that this will not strech too long & we can cover other topics too)

Topic is "NPA" (+ CAR & ARC/Bad Bank):-
=>
Basics::
•We have seen ,banking industry plays imp role for Public in terms of Credit & loans.
•If loans are taken in return of collaterals ,then these loans are of low risks.In case of non returning the loan, the lender may recover the loan by selling the collaterals.
•but what if no collaterals are pledged? Then banks have to "write off " the loans mandatarily to clean their Balance Sheets .

So What is NPA(Non Performing Assets)?
=>
In most cases, debt is classified as non performing when loan payments have not been made for a period of 90 days.

Carrying the significant amount of NPA signifies that financial health of banks are at the risk.

How the NPAs are recorded on bank side?
=> Broadly recoreded in 3 diff categories..
i)Sub-Standard Asset
ii)Doubtful Asset
iii)Loss Assets

*Sub-Std.Asset: It is an asset classified as an NPA for less than 12 months
*Doubtful Asset: It an asset that has been non-performing for more than 12 months
*Loss Asset: It is the loans with losses identified by the bank, auditor, or inspector that need to be fully written off.

Loan::Written off Vs Waived debate ??: (This you may have seen in the newspaper...This topic is more of Political nature than Economics in India now)
- Written off:: NPAs are written off after all the avenues of recovery are exhausted & chances of recovery of loan are very remote
-Waived off:: Loans are waived off means there is cancellation of recovery or refraining from claiming the dues itself.

Other Terms::
1.Capital Adequacy Ratio(CAR):
It is just like RWA (that i have covered earlier).It is measurement of a bank's available capital expressed as a percentage of a bank's risk-weighted credit exposures.
It is used to protect depositors and promote the stability and efficiency of financial systems around the world.
(#Task:: Two terms related to CAR- Tier1 & Tier 2 capital...Search them on Google)

2.ARC/BAD Bank:
ARC(Asset Reconstruction company) is the earlier version of Bad Bank in India.
ARC's primary role is  to manage and to make profitable those assets which have been underperforming or become formally classified as NPA’s belonging to companies who have been unable to generate enough profits .
Bad Bank is the is a bank set up to buy the bad loans and other illiquid holdings of another financial institution. The entity holding significant NPAs will sell these holdings to the bad bank at market price.

With rising NPAs & COVID-19 ,discussion on need of Bad bank is yet again at the forefront.

So...in Prelims ,Que can be framed like simple one- Term NPA related to what? OR what is period in daya to declare the loan as NPA? OR what is CAR OR BAD BANK? & Will give 4 options..

In Mains ,Questions of various combinations of these terms can be asked in GS3 mains...

Stay tune.

Join @EconomicsforMains

#OneConceptOneDay #Economics #Prelims #Mains


#OneConceptOneDay continued...

Today will take one topic that will help u to understand the next 3 topic that I will be covering in next 3 days.Topics are related to Banking System.

(This topic is a bit technical..but u have to go through it..for better understanding)

So ,the topic is "Basel Norms"::

Background::
=>
•Banking System is backbone of any economy of the world.Priority of any nation is to grow faster.To grow faster,its banking system needs to grow faster & yet stable.
•Achieving both these simultaneouly is a tougher task.
•Banking System in the world is highly connected.A change in one corner of the world have repercussions in the other part of the world.
•Especially ,the risks that banks take in terms of loan giving & keeping asset with himself is at the focus.
•So for broader cooperation on global scale & to bring uniformity in the banking system, Basel Norms were developed.
Basel Committee on Banking System (BCBS) formulated  Basel guidelines refer to broad supervisory standards formulated by this group of central banks.
Basel is the the city in Switzerland & is headquarter of BIS(Bureau of International Settlement)

[I am skipping more history of Basel norms...that will not be asked in Mains too...whatever I have explained above is sufficient]

*They have formulated series of norms that have to be followed by countries...

**Basel-I::
=> 1988:: BCBS introduced capital measurement system called Basel capital accord, also called as Basel 1.

Outcome:: Minimum Capital Requirement was fixed at 8% of Risk Weighted Avg (RWA).

{RWA?? => Suppose banks have given loab to such person or entity which have also issued Collaterals, then it has less risk to fail.Even if he doesn't pay back,banks can sale the collateral & get the money.
Suppose banks have given credit to such entities which are highly prone to market risks & then is very less chances of getting the loan back, then this has greater risk.
So weighed avg of all such possible loans is called as RWA}
India adopted Basel-I norm in 1999.

**Basel-II::
=> 2004:BCBS have came with more refined version of norms called as Basel-II norms

Outcome:
i)Banks should maintain 8% of CAR ( CAR ?= I will be covering it in upcoming days)
ii)Banks were needed to develop and use better risk management techniques in monitoring and managing all the types of risks that is credit  and  increased disclosure requirements.
iii)Banks needs to mandatarily disclose their risk exposure.

*Basel II norms in India and overseas are yet to be fully implemented.

**Basel-III:
=>2010:: In response to 2008 Crisis ,Basel-III guidelines are issued.

Why need for Basel-III?
=>After 2008 Crisis, need was felt to further strengthen the system as banks in the developed economies were under-capitalized, over-leveraged and had a greater reliance on short-term funding. 
• Also quantity and quality of capital under Basel II were deemed insufficient in managing the whole banking system of the world.
• Basel-III guildelines are focussed on 4
vital banking parameters viz. capital, leverage, funding and liquidity.
{ *Capital- Capital req in the banks have been doubled.
* Leverage- Leverage basically means buying assets with borrowed money to multiply the gain. This has more risks. So these guildelines put limitation on banking side.
*Funding & liquidity- (These are simple termss just google them).Basel III puts a requirement for the banks to maintain some liquid assets all the time.}

RBI have set 2019 as year to implement these Basel-III guidelines...

Some challenges b4 implementation of Basel-III norms::
-Higher Capital Req for banks
-More technology deployment
-Liquidity Crunch.

So.,in Prelims,Que.can be framed like RWA req for Basel-I OR II ..then give 4 options.....OR simple que that Basel norms are related to what...& then 4 options..OR Basel -III norms have 4 pillars..what are they?..& combinations of different options.

In Mains,GS3 , they can ask like Why Indian Banking system faced the crisis of NPA? (u can give these points as references) & such questions.


Join @EconomicsforMains


#OneConceptOneDay Continued...

This concept is new one but built on the already known 2 concepts.....

Topic is "Initial Coin Offering" (ICO)::

Before proceeding to see this, I will divide it into 2 parts....
1. Coin. &
2. Initial Offerings

1st we see what is Coin? (as in this context)
=> Here for this ,Coin refers to Cryptocurrency. { You must know what  Cryptocyrrency is. If not ,do google it .}

2nd "Initial Offerings" ?
=> While reading newspaper ,you must have seen this term - Initial Public Offerings

"Intial public Offering" refers to the process of offering shares of a private corporation to the public in a new stock issuance. Public share issuance allows a company to raise capital from public investors.

So in the same way, Private Corporation who issue Cryptocurrency act as a way to raise funds, where a company looking to raise money to create a new coin, app, or service launches an ICO.

So after ICO , Interested investors can buy into the offering and receive a new cryptocurrency token issued by the company. This token may have some utility in using the product or service the company is offering, or it may just represent a stake in the company or project.

Key Points::
1.ICOs are popular fundraising method used primarily by startups, usually related to the cryptocurrency and blockchain space.
2. ICOs are like stocks but they do have utilty like software service.
3.To participate in ICOs, you have to first purchase digital currency & have basic understanding of how to use digital wallets

Questions can be asked in Prelims like one liner.-> ICO means......& Upsc will give 4 options .3 irrelevant or confusing...One right...You have to choose...Correct one.

In Mains, que can be like how can Cryptocurency be modern methods of raising funds?....then u can give value addition of this ICO.
--------------------------------------------------

Soon in a day or two, I'm also starting to cover Economic Survey,Budget & India Yr book (imp eco related stuffs).

Stay tune.
Join @EconomicsforMains

#OneConceptOneDay #Economics #Prelims #Mains


Gm,
#OneConceptOneDay continued ...

This topic was popped up & in news in late 2018...I am deliberately taking it as upsc sometimes do go back (i.e traditional norm of covering 11 month of CA from Prelims date) & form some questions...

Topic is ILF&S Crisis::
First we see What is ILF&S?
=> Its Infrastructure Leasing Financial Services Ltd Company. Its primary role is to provide finance for infrastructure related project & investing in them.

Brief history of ILF&S::
- Founded in 1987 as an "RBI registered Core investement Campany" by 3 companies C.B.I (Central bank of India) ,HDFC & UTI.
-As it has gained due to better financing , other shareholders joined as Orix Corporation of Japan, Abu Dhabi Investment Authority(ADIA) & LIC .
-SBI was also its shareholder till 2017, at that time it sold its majority shares & reduces itself to just 12%
- So now LIC,ADIA & ORIX are largest shareholder.

{As an aspirant u need not have to remember all shareholders & history..I written just to set tone for topic}

So what is the Crisis?
=> In Oct-18, ILF&S's debt to equity has risen to 18% as it has provided debt to many infrastructure projects which was booming since last 2 decades
-ILF&S has around 250 subsidiary companies altogether seating on the debt of ₹91,000 Cr.
-In Sept-18 ,it has altogether defaulted on its loan.
- Then Govt of India came into role.It has apprached the NCLT & taken the management role & changed the board structure.It has appointed 10 nominee directors into its board.

Who was to blame?
=> Already world has seen 2008 Lehman Brother fall & global recession .India also seen Satyam scam. So this crisis has yet again raised eye brows of many analyst.
- Role of auditors like Deloitte Haskin and Sells Llc, KPMG India, and EY India Ltd were under scanner.
-Ideally Auditors have to play their role carefully & report if any discripency througb proper channel.But this has not happened in this case.
-Probe agencies like (Serious Fraud Investigative Office) SFIO & (National Fianancial Regulatory Authority)NFRA are investing in this matter further.

#Task :: Go & Search SFIO & NFRA .SFIO was also mentioned in India Year Book .So questions can be framed in Prelims relates to these two terms.

Stay tune. Join @EconomicsforMains

#OneConceptOneDay #Economics #Prelims #Mains


What constitute Weaker Section of Society? Given in the image 👆👆

#PrioritySectorLending

(Image Credit:: RBI)

Join @EconomicsforMains

#OneConceptOneDay #Economics #Prelims #Mains


Hello all,

Under #OneConceptOneDay initiative ,we will now take a simple & frequently in news topic - "Priority Sector Lending". This topic is easy to understand.....

So what is Priority Sector Lending?

For this we just take brief review of how things work on banking side.

Basic:: Commercial banks are the connections between Customers & Central Bank (in case of India it is RBI) .So Customers do approach these banks for their lending purpose. Rbi is central in controlling the ways by which Comm.Banks should lend. It also has to keep in the minds the larger interest of Nation.

So, there are some sectors/sections in the economy which are lagging & they need some push from Banking side..So ,they will be given some advantages & preference in lending purpose.

So...RBI has listed some sectors like Agriculture,MSMEs,Export Credit,Education,Housing ,Social Infrastructure & others.

There are some Targets & Sub Targets that are set by RBI for Commercial banks to achieve....

◆For Commercial banks (excluding RRBs & SFBs ) & Foreign Banks having 20 or more branches in India:
40% of their ANBC (Adjusted Net Bank Credit )or Credit Equi. amount of off- Balance sheet (CEOB) whichever is higher

●Among the 40% , for Agriculture- 18% of their AMBC or CEOB whichever higher.

●For MSMEs ,7.5% of their AMBC Or CEOB whichever is higher

●For Weaker Sections of Society-10% of their AMBC Or CEOB whichever is higher

(*Note: What constitutes Weaker section, for this I will post a Image after the end of this message in the channel..U can refer that )

◆ For Foreign Banks for having 20 branches or less ,

* 40% of ANBC or CEOB whichever is higher
* Other sub Targets like Agriculture ,MSMEs ,Weaker Sections are not applicable to them.

{Two terms: ANBC & CEOB are mentioned...in simple language u can remember it as net credit that is available with banks that they can lend...U need to not have to go into depth of that..not essential for #upsc)

* One term also there- PSL Certificates...
=> These are the certificates issued by banks who have completed their PSL targets ( as mentioned above) to the banks who have fall short of their targets in obligation that with no transfer of risk or loan assets. This mechanism allows banks to achieve their targets in the event of shortfall.

#Imp::
So..Questions in the prelims can be asked like What are the PSL areas? they will give 4 options..one odd...3 correct or Vice Versa & u will have to select the correct one.
OR What are the % criteria for foreign banks to achieve?
OR What is PSL ? simple one liner mcq...U just have to answer correct (they will try to manipulate & frame irrelevant or confusing options)

In mains, they can ask like Are Commercial banks are helping the PS areas & in turn development of society ? Is there is any shortfall? Comment....

---------------------------------------------------

Keep watching this space. i will be covering more & more topics

Join @EconomicsforMains

#OneConceptOneDay #Economics #Prelims #Mains


Gm,

I think moving forward in #OneConceptOneDay series ,we must sometime look back & see what we have covered so far...In haste of learning new topics, we tend to forget the old learned concepts. Revising what has happened boosts up our confidence & get motivation to move forward....

So far ,in this initiative we have covered 5 topics :
-Bharat Bond ETF
-Adjusted Gross Revenue
-Advance pricing agreements
-Masala Bonds
-Base Erosion & Profit Sharing.


I would suggest...Go through these 5 topics once again & revise them once again .Each topic will take just 4-5 min to understand if u have already gone through it once.

I have selected 30 topics for next 35 days to be covered .After gap of every 5 days ,we will take one day break so that u will get time to revise what has happened.

Stay tune...Next 35 days will be important both for ur prelims & mains study & for this channel too.

Join @EconomicsforMains

#OneConceptOneDay #Economics #Prelims


Aspirants,

Continuing the #OneConceptOneDay initiative...

This is in news frequently & u must have read about it in economic section of The Hindu or Indian Express,
Base Erosion & Profit Sharing (BEPS)::

So What is BEPS?
=>  In international business sense, it means phenomenon by which companies shift their base from high tax jurisdictions to low tax jurisdictions & in turn erodes the tax base of high tax country.

""In simple language, It  means for ex a MNC is doing business here in India has to pay 20% of corporate tax rates for its operation in India. But ,by doing so it has to pay additional amt from its income . But ,at the same time lets say in country like Malaysia which are considered tax heaven (means where tax rates are very low or negligible & people hide their taxes by investing there) ,Corporate tax rates are lets say 10% ,then naturally to save the money ,company do shift its operational base from India to Malaysia. But by doing this ,such companies provides losses to India even though they can be indirectly operational in India.""

`There are some technical terms involved `.``.`but this much technicalities are not req for upsc`.``.`so skipping`

Why in news?
=> The government of India has ratified the international agreement to curb BEPS- Multilateral Convention to Implement Tax Treaty, a bid to stop companies from moving their profits out of the country and depriving the government of tax revenue.


【+Additional pts related to this convention::
*These conventions are outcome of OECD & G20 BEPS project
* These conventions are applied in relation to 2 things- i) Prevention of Treaty Abuses
Ii) Dispute resolution through mutual agreements.
*It will be applied alongside existing tax treaties, modifying their application in order to implement the BEPS measures.】
【 】


Start ur day with small & crisp topic under #OneConceptOneDay

This was in news from 2014 ..Those who are in their 4th/5th/6th attempts must have seen this repeatedly :: Masala Bond

So what is Masala Bond?

For that we first see what is mean by Bond? #Basic

=> So,Bond is a debt security under which issuer owes the holder a debt & is obliged to pay interest or to repay the principal amt at later date (may be called as Maturity date)

{{This is economic language...In simple term to fix in mind, it is just like a paper. If You(considering u as some financial institution)issue it to someone with principle amt,interest rate & maturity mentioned on it, those who purchase it will give u that much money ..As per mentioned terms ,u have to give that money/capital back to him at the specified interest rate in intervals or principal amt at maturity date or both.}} #SimpleToUnderstand

So, bonds are usually issued in native country in native currency.

Here, to get the capital from foreign countries, Masala Bonds have been issued by Govt of India in foreign countries but in Indian Currency rather than local currency. Masala is an indian term as u all know very well.

This term Masala bond is used by International Finance Corporation (IFC) to evoke the culture of India.

1st Masala bond was issued by World Bank backed by IFC to finance the infrastructure project in India.

Task for you::
*Search related term:
*Green Masala Bond?
*Which is first Indian Company to issue Masala Bond?

If you search these terms, you will get some extra addition to ur info. rather than what I have explained .

"Self study is as important as referring any good tg channel. "

If you like my initiative , do join my channel & forward it to ur friends too @EconomicsforMains

#OneConceptOneDay #Economics #Prelims


Early Gm to all.

Going by the trend of upsc prelims paper from 2011 to 2019 (9 years) , Observation suggests if we divide the Economics part into broader heads like Public Finance,Banking,Govt schemes ,etc on an average 20-22 questions are being asked.This accounts to nearly 20% part of ur prelims paper. This means a lot in Clearing & Scoring in Prelims.

【Analysis of PYQs plays imp role...Que on the same line or in & around the concepts can be asked .】

As mentioned earlier, I am starting the Facts for Elimination series. With coming days,I will be providing some miscellaneous facts, figures which will help to eliminate options in prelims.

In 2019, Que was asked related to external debt of India

Facts::
•As per External Debt has increased 1.2 % Over it's previous quarter (Data is of Dec-19 quarter)
Commercial Borrowing has been the cause of increase in debt.
•External Debt to Gdp ratio has remained at the same as prev quarter. (Sept-19)
•This data is published by RBI & it publishes it with one quarter lag.
External debt is denominated in US $, Japanese Yen,Indian Rupees,Special Drawing Rights,Euros & other currencies.

Similarly in 2019 itself, Question was asked related rank of India acc to GDP(Nominal & PPP)
Some Facts::
•India Ranks 5th in the world acc to GDP (Nominal) behind U.S.,China,Japan,Germany (India recently crossed France & U.k to become 5th rank, 2 years back it has also crossed Italy)
•India Rank s 3rd in the world acc to GDP(PPP) behind U.S & China.

Additional facts::
•India's Gdp stoods at $3.2trillion as of today.
Contribution of sectors in GDP::
Services -61.5%,Industry-23% & Agriculture-15.4%
Labour force participation by sectors:
Agriculture-44%,Industry-25%, Services-31%
Gdp per capita rank -
118th(as per ppp)
139th(as per nominal)

So these facts can aid you to eliminate the options if questions are being framed in & around these.

Keep on watching this space. This series will continue till Prelims paper.Slowly I will be providing all the related data & stats.

If you like my initiative & channel, spread the word & send group link to ur friends

@EconomicsforMains

#FactsForElimination #Economics #Prelims


Gm all aspirants,

#OneConceptOneDay Continue..

Today we are going to see a small concept - APA

APA stands for Advance Pricing Agreements

What APA means?
=> It is essentially  "an agreement between taxpayer and the tax authority determining the Transfer Pricing methodology for pricing the tax payer’s international transactions for future years."

Why in news ?
=> In Oct-19 ,CBDT (Central Board of Direct Taxes ) has inked 300th APA.

Motto behind APA ?
=> It will provides certainty with respect to the tax outcome of the tax payer’s international transactions.

【3 keywords are also related to APA-
•Financial Act 2012 •Section-92CC, •Section-92CD
But these are too technical terms..Not essential for prelims..So Skipping】

Significance::APA strengthens the govt resolve for Non-Adversial Tax Regime(means which are predictable & to an extent facilitative)

3 types of APAs::
1.Unilateral APA::Only one Tax Payer & One tax authority of that country involved
2.Bilateral APA:: 3 entities involved -Tax Payer's Ass.Enterprise(AE)in foreign Country ,Tax Payer & Tax Authority
3.Multilateral APA:: involves tax payer,2 or more AE ,tax authority of tax payer & tax authority of AE's location.

---------------------------------------------------
In Prelims ,just simple question can be asked.....Either meaning of this term or Department to which it is concerned or types of APAs.

#OneConceptOneDay
#Prelims #Economics


As mentioned earlier, I will also provide some additional economical statistical data to you in coming times.

Going by trends of Past Upsc prelims paper, it seems if you know certain facts & figures ,you can surely eliminate some options in the Multi-liner questions that Upsc frames & try to play with aspirants .

If you can at least eliminate 2 options - One that was mostly irrelevant from present trends & other with help of some key stats , it will be easy for you to choose correct between remaining 2 options....(that depends upon level of study,practice of mcq solving & revision)

So..Your chances of getting the answer correct will increase from 25% to almost 75% ...This is much helpful with such a steep competition that we have in Preliminary stage.

Keep watching this space.

I will label such facts under the title "Key Facts for elimination"

#Facts #Elimination #Prelims #Economics


Gm to all.

Continuing the #OneConceptOneDay initiative....

Sometime back there is term in the news AGR , a serious daily newspaper reader must have come across this term many a times as this was in the limelight for much time...

Going by the trends of UPSC prelims in past some years...I found UPSC has habit of framing 2 types of questions on such terms::
*Either they will ask the Simple Meaning of the Term OR
*They go one step ahead & ask some bits in & around the topic...

So I will cover both this in this one::

AGR?
=>Adjusted Gross Revenue

Meaning::
For this, I will just give brief background which is sufficient from prelims pt.of view. Then you can digest the meaning easily

Background:
1994: Telecom Sector liberalised in India . Licenses were issued to companies for operation.Licence fees has to be paid by companies to Govt.
1999: To give relief to Companies, Govt has shifted to revenue sharing model.

【There are two terms : Annual license fee (LF) and Spectrum usage charges (SUC) which are involved in calculation of AGR...But you need not have to go into so much details...】

Now what is main issue behind it in frequently in news?
=> Main issue between telecom companies & Dept of Telecom. (DoT) is on definition of AGR.

The companies claimed that "AGR should comprise just the revenue accrued from core services and not dividend, interest income or profit on sale of any investment or fixed assets."

But Govt i.e DoT has in its definition said that licence fees should be provided based on all possible sources in which particular telecom company involved in.

So..This is the fundamental dispute between 2 parties: Going by the defn of DoT, Telecom companies has to provide much of its revenue to the govt as defn of DoT comprises huge amount of turnover that any telecom company does.

In 2015, TDSAT (telecom dispute settlement & appellate tribunal) ruled in the favour of Telecom companie's defn .

But in Oct-2019,SC ruled in the favour of DoT & instructed the Telecom companies to pay their dues .

Many companies like Vodafone , Airtel haven't paid their huge dues since years. Also ,as Jio has came into the telecom market ,it has provided steep competition to all other telecom companies.So other companies are under stress & facing losses. So they are finding it difficult to pay such huge dues to Govt & that too in short time.
.....................................................
So question can also be asked in GS3 mains 2020 regd these facts..So will more update on this after prelims ...What I have explained here is sufficient from Prelims pt of view....
....................................................

Stay tune here...& If u have like my initiative, do tell ur friends & make them subscribe to my channel....👍

#OneConceptOneDay #Economics #Prelims #Mains


As promised in an earlier announcement , I am giving insight to some important keywords that usually in the news but many aspirants find it difficult to understand . I am trying to make u understand that in simple way::

In June 2019...A Term "Bharat Bond ETF" was in the news.....

First we will understand what is ETF?

ETF i.e Exchange Traded Fund are the mutual funds listed and traded on stock exchanges like shares. As an aspirant u are quite aware of how shares are traded .

In an ETF, one can buy and sell units at prevailing market price on a real time basis during market hours.

Now..What is Bharat Bond ETF?
●>These are India’s first corporate bond exchange traded fund, comprising debt of state-run companies.

Means on the behalf of debt run companies,these bonds are issued in market ..In the return to which govt gets capital/money from retail investors to finance the debt of these companies.

Features of these ETFs:
•Retail investors gets easy & low cost access to bond market at an as small amount as ₹.1,000.
•It is an basket of bonds & that too on behalf of central PSUs, so it has rather more security than corporate bonds.
•It will have a fixed maturity of three and ten years and will trade on the stock exchanges
 •It will track an underlying index on risk replication basis.

......................................................

So I will cover important concepts that are in news one by one on daily basis. It will also give you sufficient time to digest such complex terminologies.

Stay Tune::

#OneConceptOneDay #ImpKeywords
#Economics #Prelims2020


In upcoming days...I will be covering all important topics & sections related to Economics...Which can help you covering vast arena of Prelims & give some edge in Mains too.

Will help you to learn & understand ::

*Economic Survey 2019-20
*Budget-2020
*India Year Book-2020
* All possible Eco related stuffs which are imp for prep.

Stay tune....Will keep you updated one by one.

#Economics #Prelims #Mains


Phase 2 announcement related to Atmanirbhar Bharat by FM yesterday...These details are not so important from prelims point of view...But in mains GS3, these can help u enrich your answer if related question is being asked...

#Phase2 #AtmabirbharBharat #FM


Imp takeaways from Phase 1 Announcement of Atmanirbhar Bharat by FM:: 13 May 2020

● Collateral free automatic loans will now be available for MSMEs. This facility is of a total amount of Rs 3 lakh crores. 

●Subordinate debt worth Rs 20,000 crore introduced for stressed MSMEs

●A Fund of funds is being created which will lead to an infusion of 50,000 crore as equity into MSMEs

●Definition of MSMEs being changed in favour of their interest as below::

*Micro: Investment < 1 crore, Turnover < 5 crore

*Small: Investment < 10 crore, Turnover < 50 crore

*Medium: Investment < 20 crore, Turnover < 100 crore

●Global tenders will be disallowed in govt procurement for tenders under Rs 200 crore

●Statutory PF contribution for those not covered in this earlier point will be reduced from 12 to 10% for the next 3 months. 

●To boost NBFCs, fund of 30,000 Crores will be infused through Primary & Secondary Market .

#Phase1 #NirmalaSitharaman

Channel link::
https://t.me/EconomicsforMains


Status of Indian Economy at the start of 2020...& Now as Covid-19 has agrived,It will be again leading towards troubled times


To revive MSMEs for "Atmanirbhar Bharat" ..KVIC have came forward for the call of "Vocal for Local"


Recent help by Govt of India for Covid-19

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