Notes and Study material for Exams
rawan239Reformers like Raja Rammohan Roy, Ishwarchandra Vidyasagar, Swami Dayanand Saraswati, Jyotiba Phule, Sir Syed Ahmed Khan and Pandita Ramabai understood that ignorance and backwardness in the Society was responsible for hindering its progress and development. They studied the religious scriptures and criticized the prevalent religious and social practices. According to them, society should be based … Read more
The Renaissance and Reformation Greater travel, rising wealth and greater knowledge of outer world led to a new philosophy of life called renaissance. With rising material consumption, this worldly pleasures took place of Church advocated other worldly pleasure and hence human and not god became center of activities. Thus, humanism was a key feature of … Read more
Enlightenment and Industrial revolution Emergence and Background Beginning of geographical discoveries and direct sea routes opened new avenues of Trade and Commerce. It formed the bedrock of Industrial revolution as mismatch between demand and supply led to new innovative ways of enhancing production. Second factor was emergence of capitalist ideology. Profit making became the core … Read more
Imperialism is a state policy, practice, or advocacy of extending power and dominion, especially by direct territorial acquisition or by gaining political and economic control of other areas. Because it always involves the use of power, whether military force or some subtler form, imperialism has often been considered morally reprehensible, and the term is frequently … Read more
First World War Background It was a result of growing inter-imperialist rivalries, growing chauvinism, antagonism and conflicts within Europe, formation of alliances and secret pacts, growing militarization, feverish preparations for war, were some of the marked features that harbingered war. There had been a number of crises which were temporarily resolved, but led to deep … Read more
Under Industrial Policy, keeping in view the priorities of the country and its Economic Development, the roles of the public and private sectors are clearly decided. Under the New Industrial Policy, the industries have been freed to a large extent from the licenses and other controls. In order to encourage modernisation, Stress has been laid … Read more
Money Supply is the entire stock of currency and other liquid instruments in a country’s economy as of a particular time. The money supply can include cash, coins and balances held in checking and Savings accounts. Money Supply can be estimated as narrow or Broad Money. There are four measures of money supply in India … Read more
Role of RBI Pre-reform Post-reform Developmental Role: the developmental role has increased in view of the changing structure of the economy with a focus on SMEs and Financial Inclusion Priority Sector Lending: Introduced from 1974 with Public Sector Banks. Extended to all Commercial Banks by 1992 In the revised guidelines for PSL the thrust is … Read more
Fiscal Policy is that part of Government policy which is concerned with raising revenues through Taxation and other means along with deciding on the level and pattern of expenditure it operates through budget. However, generally the expenditure exceeds the revenue income of the Government. In order to meet this situation, the Government imposes new taxes … Read more
The development of any Society or country without Economic Development is a myth. Economic development brings prosperity which in turns is directly proportional to the amount of goods and Services produced quantitatively or in broad sense we can say in Money equivalent. So the factor of production depends on the following parameters. Land Labour Capital … Read more