Notes and Study material for Exams
Association of Southeast Asian Nations (ASEAN) The Association of Southeast Asian Nations (ASEAN) was formed in 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand to promote political and economic cooperation and regional stability. The member countries of the Association of Southeast Asian Nations (ASEAN) are Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei Darussalam, Vietnam, … Read more
NITI Aayog Task Force on Poverty Elimination: A Comprehensive Approach to Eradicating Poverty in India Introduction Poverty, a persistent challenge for India, has been a focal point of various government initiatives over the years. Recognizing the need for a comprehensive and multi-dimensional approach, the NITI Aayog, India’s premier policy think tank, established a Task Force … Read more
Fiscal Responsibility and Budget Management Act The FRBM Act 2003 in its amended form was passed by the government to bring fiscal discipline and to implement a prudent Fiscal Policy. High Fiscal Deficit was the one major macroeconomic problem faced by Indian economy around 2000. It was argued that high deficits lead to … Read more
The structure of the World Trade Organization (WTO) is as follows: Ministerial Conference: The highest decision-making body of the WTO, which meets at least once every two years. General Council: The main decision-making body of the WTO between Ministerial Conferences. Dispute Settlement Body: The body responsible for settling disputes between WTO members. Trade Policy Review … Read more
The Indian Economy in the Pre-Independence Period: A Tale of Two Worlds The Indian economy before independence was a complex tapestry woven with threads of tradition, colonialism, and nascent industrialization. It was a period marked by both immense potential and deep-rooted challenges, shaping the economic landscape of the nation for decades to come. This article … Read more
Stagflation: A Modern Economic Enigma The term “stagflation” might sound like an oxymoron, a contradiction in terms. After all, how can an economy experience both stagnant growth and high inflation simultaneously? Yet, this seemingly paradoxical phenomenon has plagued economies throughout history, leaving policymakers and citizens alike grappling with its complexities. This article delves into the … Read more
The following are subtopics of GDP deflator: Definition Formula Calculation Uses Limitations Examples Related topics The GDP deflator is a measure of the level of prices of all final goods and services produced in an economy in a given year compared to a base year. It is calculated by dividing the nominal GDP by the … Read more
Purusharth The Hindu scriptures declare four goals in human life and they are called the purushartha. The term purushartha not only denotes what the objectives of life should be but it also means what the objectives of life are as the result of the psychological tendencies of the individual. The purushartha consists of dharma, Artha, … Read more
Bring out the differences and similarities between endogenous Growth models and exogenous growth models. Read moregrowth models