ForumIAS

Tag: Economics

  • Major Highlights of the Insurance Laws (Amendment) Bill, 2015 Passed by Parliament

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    The Insurance Laws (Amendment) Bill, 2015 was passed by the Parliament. The passage of the Bill paved the way for major reform related amendments in the following acts : – Insurance Act, 1938 The General Insurance Business (Nationalization) Act, 1972 The Insurance Regulatory and Development Authority (IRDA) Act, 1999. I have prepared this post with…

  • Economic Survey Highlights : – Problems with APMCs and possible solutions

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    Current Scenario Presently, markets in agricultural products are regulated under the Agricultural Produce Market Committee (APMC) Act enacted by respective State Government. This Act notifies agricultural commodities produced in the region such as cereal, pulses, edible oilseed and even chicken, goat etc. The first sale in these commodities can be conducted only under the aegis…

  • Economic Survey Highlights : – Manufacturing or Services ?

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    Excerpts from Economic Survey – In order to bring about expansion and structural transformation, India should utilize its dominant resource of unskilled labour. But, “What should India make?Manufacturing or Services? ” The Economic Survey distinguishes registered manufacturing ( formal sector) from the general manufacturing which covers informal sector as well. Advantages of Registered Manufacturing ( Formal Sector ) Has the…

  • Budget 2015 Excerpts : – Major New schemes

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    1. Micro Units Development Refinance Agency (MUDRA) Bank Government has planned to set up a Micro Units Development and Refinance Agency (MUDRA) Bank through a statutory enactment. This Bank would be responsible for regulating and refinancing all Micro-finance Institutions (MFI) which are in the business of lending to micro/small business entities engaged in manufacturing, trading and…

  • Budget 2015 Excerpts :- Five Major Challenges to the Economy

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    I’ve prepared this article from the Budget speech of Finance Minister. Five major challenges before the economy as informed in the budget by the Finance Minister are :- 1. Agricultural incomes are under stress.  To increase the incomes of farmers, it is imperative that a National agricultural market is created, which will have incidental benefit of…

  • Everything you need to know about Strategic Oil Reserves of India

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    Low oil prices are sure to encourage countries to create such reserves. China is already engaged in building reserves. The opportunity should be exploited to beef up oil reserves. What is a Strategic Oil Reserve ? The Strategic Oil Reserve is an emergency fuel storage of oil . They are a nation’s counter against any short-term disruptions in energy…

  • NSSO Report 70th Round – Situation Assessment Survey of Agricultural Households in India

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    I have listed down the highlights of NSSO Report. It is a useful data-set – status of agricultural households, their diversifying income sources, access to financial products etc. You need not remember the figures. You need to get an idea, what the situation is. Household type – Rural India has an estimated 90.2 million agricultural households— about 57.8% of…

  • 100 % FDI in Medical Devices Sector – What will be the effect ?

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    India has achieved an eminent global position in pharma sector. However, the same has not been achieved in the medical devices industry . India’s cash strapped medical devices sector needed a new lease of life. Because, we have acche din now, Government relaxed FDI policy for the sector to bolster it.