National Disposable Income is the sum of the disposable incomes of all resident and institutional units. National Disposable Income gives us an idea of what is the maximum amount of goods and services the domestic economy has at its disposal The formula for National Disposable Income is National Disposable Income = Net National Product at market prices… Continue reading National Disposable Income
Author: ForumIAS
Dilli chalo farmer’s protest
Context- Farmers from all over the country are protesting seeking the repeal of the new farm laws. What is Farmers’ Produce Trade and Commerce [FPTC] Act, 2020? Break the monopoly- It allows intra-state and inter-state trade of farmers produce beyond the physical premises of Agricultural Produce and Livestock Market Committee (APMC) markets. State will be now prohibited from levying any market… Continue reading Dilli chalo farmer’s protest
Inequality in education system
Context: Aishwarya Reddy’s death points finger at an education system that turns a blind eye to inequality. Background Recently a young student, Aishwarya Reddy from Lady Shri Ram College, died by suicide. The girl from a poor family took her life due to her inability to buy gadgets required by her to continue her online… Continue reading Inequality in education system
Aspects of vaccine distribution
Context: Aspects of vaccine distribution. Background The World Health Organisation (WHO) declared the COVID-19 a pandemic in march 2020 and the most optimistic prediction for a vaccine to be available was by the middle of 2021. Now, the labs around the world are working faster than anticipated and the first vials of a vaccine are likely… Continue reading Aspects of vaccine distribution
Ayurveda and patient safety
Context: Efficacy of Ayurveda to incorporate surgical techniques. What are the requirements for conducting a successful surgery? Apprenticeship is the key: Surgery in the present era is an interdisciplinary effort. This is one branch of medicine where knowledge can only be acquired through apprenticeship that is, the learner needs to be guided by an expert A well-trained… Continue reading Ayurveda and patient safety
Personal Disposable Income
Personal Disposable Income refers to the income that is available to the households that they can spent as they wish. All the Personal Income is not available to individuals to spend. They have to pay taxes (e.g. – Income tax) and non-tax payment such as fines. The formula for Personal Disposable Income is Personal Disposable Income (PDI) ≡ PI… Continue reading Personal Disposable Income
Personal Income
Personal Income is the part of National Income which is received by the households. The formula for calculating Personal Income (PI) is Personal income (PI) ≡ National Income – Undistributed profits(profits utilised by manufacturers for further production) – Net interest payments made by households – Corporate tax + Transfer payments to the households from the government… Continue reading Personal Income
National Income (Net National Income at Factor Cost)
National Income The Net National Product at factor cost is known as National Income (as mentioned in the class XI NCERT) NNP (@Factor Cost) = National Income = NNP (@Market Price) – Taxes + Subsidies Note: However, the Central Statistics Office (CSO) under the Ministry of Statistics and Program Implementation defines National Income of India as Net… Continue reading National Income (Net National Income at Factor Cost)
Net National Product (NNP)
What is Depreciation? Factors of production under go wear and tear. This wear and tear is called Depreciation. For Ex : Consider a water bottle manufacturer who has a bottle-cap manufacturing machine. By producing water bottle cap all over the year the machine may face any failure due to repairs and the manufacturer might service the machine and changed the repaired part. This is called wear and tear. A… Continue reading Net National Product (NNP)
Environment Quiz: International Environmental Conventions | Dec 1,2020
Good Morning Friends, We are Posting Today’s Prelims Marathon [WpProQuiz 1919]
