[Community Initiative] Thread for Posting Performance Sheet. (Reviving For SFG 2022)

SFG-T1-[Polity]


Learning 
1)Education is related to 5th & 6th Schedule as well.

2) Trade monopoly abolished by 1813 Act | Tea- China not to be considered.

3) Gandhiji- Non Violence based on religious principles

4) Definition of State: sovereign people not Sovereign govt. !

5) Objective resolution had provisions related to world peace.

6) A 30 : Not a reverse discrimination 

7) Free education to children isn't affirmative action

8) PESA for 5th Schedule | AD-6th

9) Read options carefully , Fill bubble properly & highlight correct -incorrect

1. In 5 UTs [w/o #L] : #P can amend/repeal (P) law.

2. FC | 280 | ≠ transparency in financial administration

3. JSPSC | G35 | Report to #G not to #P | PB-HR-66 | G19- CPSC

4. NCBC | 338 B- S/C need to consult for polity matters of SEBC | 105th CAA- state own list, by Law

5. CGA - Non (s) | FinMin | Advisor

6. AG: can practice or can’t ? | member of committee - I thought AG can only present arguments

7. **[Trapped]**ISC: mind could not filter this out in list of extra (c) entities

8. **[Trapped]**Mind could not filter tax vs non tax

9. PAC report ≠ #P | PAC analyse CAG-Reports

10. ISC: misuse of 356 | Srinagar conclave

11. 7th

    
    

Learnings
1) Appointment related provisions are way too confusing , revise them at least 10 times before exam. Ad Hoc, retired , transfer 

2) Did Custodian question wrong , Should be ashamed. Custodian #P or SC?

3)no monetary limit exists in applying civil cases in the Supreme Court.

4)  HC for 2 or more states | 7CAA

5)  judicial office in the territory of India for 10 years =judge in any of the state Subordinate Court

6) The constitution has explicitly endowed the power of judicial review on the Judiciary. Yes/No?

1)Senators are directly elected .

2) What is the meaning of constituent powers of both houses of Parliament?

3)Overthinking:  If the Union Parliament wishes toremove a matter from the State list(over which only the State Legislature can make law) to either the Union List or Concurrent List in the interest of the nation, theapproval of the Rajya Sabha is necessary.

4) state councilDOES NOTreflect the federal element ! [& ULB representation is not federal]

5) Minister : chair of Consultative committee | Ministry of Parliamentary Affairs.

Sir it is notion. 

1. RTI| BPL fee exempt | Only citizens have RTI
2. Voting in India| in person, postal, proxy | armed forces: both postal & proxy |NRI ≠ Postal ?
3. Who canavail the Postal Ballotfacility currently?
   1. Members of the armed forces, police force (serving outside the state), Government employees posted outside India and their spouses
   2. Voters under preventive detention
   3. Special voters such as the President of India, Vice President, Governors, government officers on poll duty .
   4. Absentee Voters: unable to cast | They include voters a) employed in essential services b) Persons with disabilities and c) senior citizens above 80 years of age.
4. RPA 50| seat allocation | preparation of electoral roll | delimitation commission | Election officers | manner of filing |Barring the jurisdiction of civil courts. |Prep b4 elections.
5. RPA 51| Nomination paper | RPA51 | Actual elections | Reg of Pol Parties | election disputes | Nomination paper | RPA51
6. FCRA 2017 Amendment | Parties can receive from : Indian subsidiary of a foreign, A foreign company, in which an Indian holds 50% or more shares.
7. (c) Amendment:
   1. In USA, an amendment may be proposed by a constitutional convention called for by two-thirds of the State legislatures.
   2. in USA, every constitutional amendment must be ratified by at least three-fourth(75%) of the state legislatures.
8. AIS
   1. Salaries and pensions [ by the states]VsHC #J[Pension by Center]
   2. immediate control vs ultimate control | Safeguards under A 311 - not for defense forces
9. SPSC: 1/2 | 10 years u/r Govt.
10. Resources
    1. Union government have exclusive rights on all lands, minerals and other things of value under the waters of the ocean within the territorial waters of India, the continental shelf of India and the exclusive economic zone of India | TW- 12 NM, EEZ- 200NM
11. The official conduct of the president can be reviewed by a court, tribunal or any other body authorised by either House of Parliament to investigate charges for impeachment.
    
    
    

1. ASHA | pregnancy test kits for early detection
2. Tribes | 3 basic ethnic groups - Proto Australoid, Mongoloid and Negrito
3. SC&ST act , 1989 | Special court for this only | No prior permission of SSP needed | No anticipatory Bail
4. Literacy
   1. Highest in South Asia: S Lanka
   2. India's literacy rate is 74.4% (7+ years old) | can read and write.
   3. UTs Literacy : Lakshadweep on Top | JK- Bottom.
   4. In India, the growth rate of female literacy is higher than the male literacy.
5. Dependency ratio
   1. number of dependents aged zero to 14 and over the age of 65, compared with the total population aged 15 to 64.
   2. In 2020, total dependency ratio (0-14 and 65+ per 15-64) for India was 48.7 percent. Total dependency ratio (0-14 and 65+ per 15-64) of India fell gradually from79 percent in 1971 to 48.7 ratio in 2020.
6. Worker Age Population
   1. The national average of the worker-population ratio (WPR) in the country for the year 2019-2020 is 50.9 per cent.
   2. Himachal Pradesh has the highest with 70.5 per cent, way above the India average and the highest among states.
   3. Punjab and Haryana fall below the national average with WPRs of 47.8 per cent and 42.9 per cent respectively.
7. Sex Ratio
   1. National Family and Health Survey (NFHS)-5, the number of women surpassed menfor the first time in Indiawith the sex ratio being 1,020: 1,000.
8. Mortality
   1. Infant | year, Neo Natal-29 days | Post neo natal 29-365
   2. Total Fertility Rate (TFR) is the sum of the Age Specific Fertility Rates (ASFR) for all age groups of women multiplied by 5, the whole being divided by 1000. The ASFR is used for all age groups from 15-19 to 45-49.
9. Population
   1. Demographic Transition:Population growth is linked to economic developmentand every society follows a typical pattern showing this relation
   2. Optimum Theory of Population (not Demographic Transition Theory)optimum population will lead to max wealth per head.
   3. Malthusian Theory:population growth (GM) >subsistence resources (AM) This will naturally lead to events like famine, war, diseases (positive checks) which will limit population to sustainable levels.
   4. Cornucopian Theory (and not the Theory of Demographic Transition) that states that human ability for invention will help it to resolve all environmental limitations and social challenges that come up due to prior population growth and so unlike Malthusian Theory, it does not believe that the human population will ever go extinct for any reason.
10. Language
    1. The Dravidian language is spoken in southern India and in some pockets in central India;
    2. Austro-Asiatic language is spoken in some pockets in the north-eastern Himalayan region of Meghalaya, in Nicobar Islands and most part of central India;
    3. Tibeto-Burman language is spoken in the entire Himalayan region whereas
    4. Indo-Aryan language is spoken in the remaining areas of the rest of the country.
11. New Farmer's Movements | Byfarmers rather than peasants |price and related issues
12. New social movement | focus on quality of life instead of power distribution | other identities so notorganized along class lines alone.
13. Important events
    1. Smiling Buddha May,1974
    2. The first Indian satellite, Aryabhata, was launched in 1975 using a Russian rocket.
    3. 1977, First Non-Congress Government led by Morarji Desai was formed at the Centre. He was the candidate of Janata Party, a coalition formed by Jay Prakash Narayan during the emergency. Morarji Desai was the 4th PM of the country. First three, Pandit Nehru, Lal Bahadur Shastri and Indira Gandhi, all belonged to Congress Party.
    4. January 1978, the Indian government demonetised Rs 1,000, Rs 5,000 and Rs 10,000 notes, which was quite substantial at that point of time.
       1. The move was enacted under the High Denomination Bank Note (Demonetisation) Act, 1978.
       2. Under the law all “high denomination bank notes” ceased to be legal tender after January 16, 1978.
       3. People who possessed these notes were given till January 24 the same year - a week's time - to exchange any high denomination bank notes.
    5. Other events
       1. 1949: Nationalization of Reserve Bank of India. The Reserve Bank of India was state-owned at the time of Indian independence.
       2. 1953: Nationalization of Air India under the Air Corporations Act 1953.
       3. 1955: Nationalization of Imperial Bank of India and its subsidiaries (State Bank of India and its subsidiaries)
       4. 1956: Life insurance in India was nationalized, through the Life Insurance Corporation Act. Life Insurance Corporation of India (LIC) was made after merging 245 insurance companies operating then in the country.
       5. 1969: Nationalization of 14 Indian banks (Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Canara Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India, and United Bank of India)
       6. 1972: Nationalization and restructuring of 107 insurance companies under the General Insurance Corporation of India.
       7. 1973: Nationalization of Coal India Limited (CIL) and Oil and Natural Gas Corporation (ONGC).
       8. 1980 : Nationalization of another 6 banks
14. Wars
    1. 1947 War: Karachi agreement
    2. 1965 tashkant
    3. 1971 Shimla
    4. 1999 Lahore Declaration [Before Kargil war-may 1999]
       1. Pokhran-II 11 May 1998 – 13 May 1998 |Operation Shakti
       2. signed on 21 February 1999, at the conclusion of a historic summit in Lahore, and ratified by the parliaments of both countries the same year.
       3. to avoid accidental and unauthorised operational use of nuclear weapons.
15. Census
    1. In the census, there is no option to choose ‘tribe’ or 'aboriginal religion'. As per instructions issued for the census, the six religions - Hinduism, Islam, Christianity, Buddhism, Jainism and Sikhism - were given the code 1-6. If a person follows another religion, the enumerator is asked to write the name.
16. S B Phule
    1. first female teacher of India |first headmistress of the country's first school for girls in Pune
    2. She published Kavya Phule in 1854 and Bavan Kashi Subodh Ratnakar in 1892.
    3. She established the Mahila Seva Mandal to raise awareness for issues concerning women's rights.
    4. Shetkaryacha Asood was written by Jyotirao Phule.
17. MGRanade
    1. 'The texts of the Hindu law on the lawfulness of the remarriage of widows' and 'Vedic authorities for widow marriage' were written by Mahadev Govind Ranade.
    2. Vaktruttvottejak Sabha, the Poona Sarvajanik Sabha, Maharashtra Granthottejak Sabha, and the Prarthana Samaj, and edited a Bombay Anglo-Marathi daily paper, the Induprakash
    3. He was given the title of Rao Bahadur.
18. Urbanization | growth rate slowed down during last two decades | TN>Kerala Most urbanized.

• 1. Fiat vs Legal vs Fiduciary
     1. Fiat money | legal tender |issued on the order of the government | not backed by a physical commodity|fiat money has no intrinsic value. |no obligation on any person to accept this money as a medium of exchange | No legal action can be initiated in this case.
     2. Legal tender |compulsory to accept this type of money for the settlement of any monetary obligation. The government can issue fiat money and can declare it to be a legal tender.
     3. Fiduciary money |trust between the payer and payee. |Cheques
  2. Cash deposit ratio
     1. An increase in cash deposit ratio leads to a decrease in money multiplier. An increase in cash deposit ratio mean people holding cash more in hand and depositing less thus leading to decrease in money multiplier.
  3. SLR
     1. Cash, SDL, T bills, MSS etc
     2. SLR is also referred as the ratio of liquid assets to net demand and time liabilities (NDTL).
     3. Banks have to report to the RBI every alternate Friday their SLR maintenance, and pay penalties for failing to maintain SLR as mandated.
     4. SLR are not reserved with the RBI, but with banks themselves. This is unlike Cash Reserve Ratio (CRR) which is kept by bank in the form of cash with the RBI.
  4. MSF
     1. borrow from the Reserve Bank of India (not within banks that is not interbank) |last resort for banks once they exhaust all borrowing options | LAF:adjusting the day-to-day mismatches in liquidity (frictional liquidity deficit/surplus).
     2. While borrowing money under MSF, banks are permitted to make use of the Statutory Liquidity Ratio (SLR) securities which is otherwise not allowed in case of Repo rate. This is up to an additional one per cent of their net demand and time liabilities (NDTL), i.e., cumulatively up to three per cent of NDTL.
     3. Recently, RBI allowed regional rural banks (RRBs) to access the liquidity adjustment facility (LAF), marginal standing facility (MSF) and call or notice money markets with the aim to facilitate better liquidity management for these lenders.
  5. DICGC
     1. 5 Lakh | Premium by bank | 12 Paise every 100 | Within 90 dayswithout waiting for eventual liquidation of the distressed banks.
  6. Central Government (RBI)constitute Monetary Policy Committee by notification in the Official Gazette.
  7. IBC VS SARFESI
     1. SARFESI : not all forms of creditors |mostly banks and other financial institutions |IBC all forms of creditors
     2. The Insolvency and Bankruptcy Code takes precedence over SARFAESI during the Insolvency Resolution Process
  8. Why poor transmission of monetary policy ?
     1. Customers’ deposits make up almost 80% of all banks’ funds from which they then lend to borrowers. On the other hand, banks borrow a minuscule fraction from the RBI under the repo.
     2. To attract deposits, banks pay a high deposit rate to depositors. Hence their cost of funds is high.
        1. In effect, unless banks reduce their deposit rates, they will not be able to reduce their lending rates. However, if a bank were to reduce its deposit rates, depositors would shift to a rival bank that pays better interest rates. Otherwise, they would park more of their savings in small saving instruments (public provident fund, Sukanya Samriddhi Yojana, etc) that pay much higher interest rates.
     3. Also, 65% of total deposits are “term” deposits (fixed for a certain duration) and take, on an average, up to 2 years to get repriced at fresh rates.So, banks cannot always reduce deposit rates immediately as deposits take longer to get repriced.
  9. Accredited Investors |relaxation | net worth or income | SEBI
  10. Fisher effect |describes the relationship between inflation and both real and nominal interest rates.
  11. Rights Issue
      1. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. This type of issue gives existing shareholders securities called right.
      2. There is no listing requirement in case of a primary market.
      3. Only those securities are traded in the secondary market, which is listed in a recognised stock exchange
  12. Cash Management Bills
      1. Short term, less than 91 days, by RBI on behalf of govt. *| Not By State governments | issued at discount to the face value through auctions, as in the case of the Treasury Bills.
      2. both fungible and non-fungible form. A CMB is fungible when its maturity date coincides with the maturity of an existing Treasury -bill issuance. In the case of non-fungible CMBs, participation by primary dealers is not compulsory as it is for fungible CMBs or for regularly scheduled Treasury-bills or bond issues.
  13. AT 1
      1. Additional Tier-1 bonds are a type of unsecured perpetual bonds having no maturity period. Instead, they carry call options that allow banks to redeem them after five or 10 years. However, banks are not obliged to use this call option and can opt to pay only interest on these bonds for eternity.
      2. AT-1 bonds are generally issued by banks to shore up their core capital base to meet the Basel-III norms.
      3. The Basel III norms stipulated a capital to risk weighted assets of 8%. However, as per RBI norms, Indian scheduled commercial banks are required to maintain a CAR of 9% (and not 12%) while Indian public sector banks are emphasized to maintain a CAR of 12%.
  14. Bond Price
      1. when inflation is on the rise, bond prices fall. When inflation is decreasing, bond prices rise. That's because rising inflation erodes the purchasing power
      2. Most bonds pay a fixed interest rate that becomes more attractive if interest rates fall, driving up demand and the price of the bond. Conversely, if interest rates rise, investors will no longer prefers the lower fixed interest rate paid by a bond, resulting in a decline in its price.
  15. Green Shoe Option |
      1. Green shoe option: In the context of IPO, it is a provision in an underwriting agreement. It grants the underwriter the right to sell investors more shares than initially planned by the issuer, if the demand for a security issue proves higher than expected. A greenshoe option is anover-allotment option.
  16. PSL
      1. domestic and foreign banks to achieve a credit disbursement target of 40% of lending book while regional rural banks (RRB) and small finance banks (SFB) need to attain 75%.
      2. most important functions of DCCBs is to provide funds to the Primary Agricultural Credit Societies.

1. Fiscal marksmanship: accuracy of the government's forecast of fiscal parameters
2. **Primary deficit[Concept not clear]
3. Transfer payments | aimed at redistribution of income |Subsidies paid to exporters, farmers, manufacturers are not considered transfer payments because they are linked to a commodity transaction.
4. Medium-Term Fiscal Policy Statement |Part of General Budget ** as per FRBM -Yes it is considered a part of Budget
5. State Borrowing | raised borrowing limits for states to 5% GSDP subject to reform
6. Ricardian Equivalence |government spending through borrowing is equivalent to its spending out of tax revenue.
   1. This means that attempts to stimulate an economy by increasing debt-financed government spending will not be effective because investors and consumers understand that the debt will eventually have to be paid for in the form of future taxes. Because taxpayers will save to pay the expected future taxes, this will tend to offset the macroeconomic effects of increased government spending.
7. Wealth tax- abolished 2015| DDT abolished 2020 | Long term Capital gain- after 3years, 20 % of profit , 1 year in case of equity | Gift tax - marriage etc exempted. | fringe benefit tax abolished , now Perquisites Tax.
8. Post Devolution Revenue Deficit Grant | under Article 275 of the Constitution. | released in monthly instalments as per the recommendations of the Finance Commission to meet the gap in Revenue Accounts of the States post devolution
9. Surplus transfer | Non Tax revenue | It is not the Banking regulations act 1949, but the section 47 of RBI Act 1935 which provides for the surplus transfer income of RBI to the Centre.
10. Fiscal drag: inflation or income growth moves taxpayers into higher tax brackets
    1. Due to progressive taxation, a greater number of people comes in high bracket of taxation. Thus, Consumer spending decreases besides rise in income growth,automatic fiscal stabilizer , prevent overheating
11. Credit to GDP Ratio
    1. although the credit to GDP ratio of India increased to five-year high of 56% in 2020, it is way behind its peers and just half of the G20 average.
    2. A higher credit-to-GDP ratio indicates aggressive and active participation of the banking sector in the real economy. While a lower number shows the need for more formal credit. This is where the role of bank comes, where they need to work towards more formalization of credit to people.
    3. The credit-to-GDP gap ("credit gap") is defined as the difference between the credit-to-GDP ratio and its long-term trend.
12. 15th Finance Commission
    1. additional condition is the establishment of State Finance Commission by March 2024, post which no grants will be released if not established.
    2. Sector-specific grants of Rs 1.3 lakh crore will be given to states foreight sectors: (i) health, (ii) school education, (iii) higher education, (iv) implementation of agricultural reforms, (v) maintenance of PMGSY roads, (vi) judiciary, (vii) statistics, and (viii) aspirational districts and blocks. A portion of these grants will be performance-linked.
13. GB |no separate allocation ,recognizes the impact of budget on men and women,2005-06, remained stagnated
14. NMP: monetisation through Infrastructure Investment Trusts
    1. Roads (not Oil & Gas Pipelines) at 27% constitute the biggest share in the sectors whose assets have been put forward for monetization. It is closely followed by Railways (25%), Power (15%), oil & gas pipelines (8%) and Telecom (6%). These top 5 sectors account for 83% of pipeline value.
15. Disinvestment & Management Control
    1. The government in the Budget 2021 unveiled the Disinvestment/Strategic Disinvestment Policy. Under which it identifiedfour sectors-- Atomic energy, Space and Defence; Transport and Telecommunications; Power, Petroleum, Coal and other minerals; and Banking, Insurance and financial services -- as strategic sectors, where bare minimum CPSEs would be retained.
    2. The objectives of disinvestment is as pointed aboveand notGovernment no longer intends to retain the management control of the CPSEs.
16. Inverted Duty u/r GST
    1. Earlier under GST Regime the Inverted Duty Structure have wider scope as compared to Pre-GST regime because it included input services also. But recently the Supreme Court held that inverted duty refund is admissible only with respect to inputs and not for input services.
17. GFCF
    1. Gross fixed capital formation (GFCF) is defined as the acquisition of produced assets(including purchases of second-hand assets), including the production of such assets by producers for their own use.
    2. Construction for military purposes (other than construction or alteration of family dwellings for military personnel), acquisition of defence equipment, durable goods in the hands of the households and increase in the stocks of defence materials are excluded from the scope of gross fixed capital formation.
       
       

1. MGNREGA | at least 60 percent of the works undertaken must be related to land and water conservation | one-third of the workers should be women | payment in 15 days | social audit
2. Fixed term employment : can be hired directly w/o middleman ,not required to provide retrenchment benefits,The Code on Social Security (2020) does not specify a minimum or maximum tenure for hiring fixed-term employees.
3. Tendulkar Committee: shift away from calorie consumption, focus onhealth and education too,A uniform poverty line basket (PLB) across rural and urban India,Mixed Reference Period.
4. The Agreement on Trade-Related Investment Measures (TRIMS)
   1. applies to investment measures related to trade in goods only. Thus, the TRIMs Agreement does not apply to services,not concerned with the regulation of foreign investment.
   2. TRIMS vs TRIPS
5. Depreciation of Indian rupee
   1. FD➚ :risk of seeing the value of the currency fall
   2. Fed Tapering
6. Worker population Ratio
   1. The worker-population ratio= total number of workers/ population in India
   2. In urban areas, the proportion is about 34.1, whereas in rural India, the ratio is about 35.3. Thus, the level of participation of people in economic activities is greater in rural areas as compared to urban areas.
   3. According to the Periodic Labour Force Survey released by the National Statistical Office (NSO), more than half of the population of workers in Rural India are self-employed.
7. India's population
   1. Decadal growth rate 17%, expected to be 12.5% in the 2011-2021 decade.
   2. As per NFHS-5 Phase II, Total Fertility Rates (TFR) of India has declined from ****2.2 to 2.0 at the national level. Further. as per demographic concepts, replacement level rate is 2.1. Thus, India's TFR has gone to sub-replacement level.
   3. Nagaland was the only state that recorded a negative decadal growth of population (minus 0.40 per cent) as per the Census 2011.
8. Post 1991
   1. Since 1991, theabsolute level of income per worker i.e. worker productivityhas increased for both rural and urban areas.
   2. rural workforce decreased , because shifting towards urban/non-agri sectors.
   3. The growth rate in rural employment decreased |increased informalisation and de-unionisation of workforce
   4. increase in casual labour and not a decline.
   5. total number of operational holdings in the country has increased, The small and marginal holdings taken together (0.00-2.00 ha.) constituted 86.08% of the total holdings [share in the operated area stood at 46.94%] , more women in the southern states hold land as compared to the rest of the country.

Note to self: revise Properly 

1. Revise more frequently. Reading same thing time and again is very boring but it is very rewarding. If possible please try to follow spaced repetition.

2. Cover PYQ seriously. Try to find out the traps. Sometimes these traps are repeated. 
Thank you

in the range of 90-125

at the end of week