Notes and Study material for Exams
The Food Corporation of India: A Pillar of India’s Food Security The Food Corporation of India (FCI) stands as a cornerstone of India’s food security system, playing a pivotal role in ensuring the availability of food grains for the nation’s vast population. Established in 1965, the FCI has evolved over the years, adapting to changing … Read more
Unpacking Core Inflation: A Deeper Dive into the Sticky Price Puzzle The term “inflation” is a familiar one, often associated with rising prices and a shrinking purchasing power. But within this broad concept lies a nuanced distinction: core inflation. This metric, often presented alongside headline inflation, provides a more refined picture of price pressures within … Read more
Operation Greens: Stabilizing Prices, Boosting Farmer Incomes Introduction: India, a nation of over 1.3 billion people, faces a constant struggle to ensure food security for its vast population. The agricultural sector, employing a significant portion of the workforce, plays a crucial role in this endeavor. However, the sector faces numerous challenges, including price volatility, low … Read more
Current Account deficit and Unfavorable Balance of Payment Current Account Deficit The current account deficit is a measurement of a country’s trade where the value of the goods and Services it imports exceeds the value of the products it exports. The current account includes net income, such as interest and dividends, and transfers, such as … Read more
The Essential Commodities Act, 1955: A Balancing Act Between Supply and Security The Essential Commodities Act, 1955 (ECA) is a cornerstone of India’s economic policy, aimed at ensuring the availability of essential goods and services to the public at fair prices. This legislation has played a crucial role in stabilizing the market, preventing hoarding and … Read more
ADMINISTERED PRICES INCLUDING MSP AND PROCUREMENT PRICES Historical context The emergence of agricultural Price Policy in India was in the backdrop of Food scarcity and price fluctuations provoked by drought, floods and international prices for exports and imports. This policy in general was directed towards ensuring reasonable food prices for consumers by providing food grains … Read more
The Elasticity of Demand: Understanding the Responsiveness of Consumers The concept of elasticity is fundamental to understanding how consumers respond to changes in price. In economics, elasticity of demand measures the sensitivity of the quantity demanded of a good or service to changes in its price. This sensitivity is crucial for businesses, policymakers, and consumers … Read more
Transport & Marketing of Agricultural Produce: A Vital Link in the Food Supply Chain The journey of agricultural produce from farm to fork is a complex and multifaceted process, involving a multitude of actors and intricate logistical challenges. Efficient transport and marketing systems are crucial for ensuring the timely and cost-effective delivery of fresh, high-quality … Read more
Aggregate Demand: The Engine of Economic Growth Aggregate demand (AD) is a fundamental concept in macroeconomics, representing the total demand for all goods and services produced in an economy at a given price level. It is a key driver of economic growth, employment, and price stability. Understanding aggregate demand is crucial for policymakers and businesses … Read more