Economy Booster

     Definition: Industrial legalizations are the laws enacted by the Government to provide economic and social justice to the workers in industries. Generally these laws provide guidelines to the employers/industrialists in dealing with the matters of wages, wage incentives, facilitates for workers and the working conditions of labour. Necessity: Improves industrial relation i.e. … Read more

 JOB CREATION   As outlined in the NITI Aayog’s Action Agenda, India suffers more from the problem of underemployment (i.e. low-productivity, low-wage jobs) than unemployment as for example: In 2011-12, agriculture engaged nearly 50% of the workforce but contributed 15% to GDP In 2010-11, within manufacturing, small firms employed 72% but output was … Read more

 Facing Global Competition Globalisation means gradual integration of economies through free movement of goods, services and capital which has significant impact on the economies of both developed and developing countries. Globalisation refers to a process of growing economic interdependence among different countries of the world. Thus, in the globalised era, the whole world … Read more

 Revision notes/ quick bytes Paper I, Part C: Accounting and Auditing: Internal Control   Internal Control: Internal control comprises of the plan of the organisation and all the coordinate methods and measures adopted within a business to safeguard its measures adopted within a business to safeguard its assets, check the accuracy and reliability … Read more

      INFRASTRUCTURE AND SPECIAL     ECONOMIC MEASURES       The Central Government shall take all necessary measures as enumerated in the Thirteenth Schedule for the progress and sustainable development of the successor States within a period of ten years from the oppointed day.  The Central Government shall take appropriate fiscal measures, including offer … Read more

 Public Private partnership for inclusive growth Public private partnerships have become increasingly popular in government policy. Especially in the domain of international cooperation and development aid, an increasing part of the budget is spent on public private partnerships. The expectation is that this will enhance the efficiency of public good provisioning, improve local … Read more

 Market Economy and its social consequences In primitive societies the usual system of exchanging goods vas barter system. At that time the idea of profit did not exist, ‘people accumulated goods not for making profit during the days of scarcity but to gain prestige. The system of trading often consisted if giving and … Read more

 National Educational Research and Training Council The National Council of Educational Research and Training (NCERT) is an autonomous organisation of the Government of India which was established on 1 September 1961 as a literary, scientific and charitable Society under the Societies’ Registration Act (Act XXI of 1860). Its headquarters are located at Sri … Read more

                       Role of Foreign Capital and Multinational companies in                         Industrial development of India   The development of any society or country without economic development is a myth. Economic development brings prosperity which in turns is directly proportional to the amount of goods and services produced quantitatively or in broad sense we … Read more

 Indian Institute of Management The Indian Institutes of Management (IIMs) are a group of 20 public, autonomous institutes of management education and research in India. They primarily offer postgraduate, doctoral and executive education programmes. The establishment of IIMs was initiated by Jawaharlal Nehru, the first Prime Minister of India, based on the recommendation … Read more