APPSC Group 1 Mains 2011-Indian Economy and AP Economy

Discuss the concept of revenue deficit and effective revenue deficit. Justify the reasons for introducing an effective revenue deficit. Give the details of the expected revenue deficit & the effective revenue deficit by the fiscal year 2016-17, as per the Union Budget 2013-14.

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Revenue Deficit and Effective Revenue Deficit: A Fiscal Analysis Introduction: A government’s budget reflects its planned revenue and expenditure for a fiscal year. A key indicator of fiscal health is the revenue deficit, which arises when a government’s total revenue falls short of its total expenditure excluding capital expenditure. This means the government is unable … Read more

Discuss briefly the recommendations of the expert committee constituted “To revise and strengthen the monetary policy framework.”

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Discussion of Recommendations from the Expert Committee on Monetary Policy Framework Revision Introduction: India’s monetary policy framework has undergone several revisions since independence, adapting to evolving economic conditions and global best practices. The need for a robust and effective framework is crucial for maintaining price stability, fostering sustainable economic growth, and managing financial stability. To … Read more

Describe the highlights of the Fiscal Reforms and Budget Management Act, 2003.

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The Fiscal Reforms and Budget Management Act, 2003: A Description of its Highlights Introduction: The Fiscal Reforms and Budget Management Act, 2003 (FRBMA), represents a landmark piece of legislation in India’s fiscal history. Prior to its enactment, India’s fiscal management lacked a comprehensive and legally binding framework, leading to inconsistent budgeting practices and fiscal indiscipline. … Read more

Explain the need for the emergence of Regional Rural Banks, discuss the problems faced by them, and the corresponding revisions made.

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The Emergence, Challenges, and Revisions of Regional Rural Banks (RRBs) in India Introduction: Regional Rural Banks (RRBs) are scheduled commercial banks in India, operating primarily in rural and semi-urban areas. Established under the Regional Rural Banks Act, 1976, they aimed to bridge the credit gap in rural India, a region historically underserved by conventional banking … Read more

Discuss the possible consequences of rural unemployment on society and suggest two effective remedial measures.

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The Crushing Weight of Rural Unemployment: Societal Consequences and Remedial Measures Introduction: Rural unemployment, defined as the inability of individuals residing in rural areas to find suitable employment, represents a significant socio-economic challenge globally. It’s not merely a lack of jobs; it’s a multifaceted issue with cascading consequences affecting individuals, communities, and national development. The … Read more

The Eleventh Five Year Plan identified weaknesses on the employment front during the period of reforms. Describe them.

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The Eleventh Five Year Plan (India) and Employment Weaknesses during Reforms Introduction: India’s Eleventh Five Year Plan (2007-2012), implemented during a period of significant economic reforms, aimed at accelerating economic growth and improving the quality of life. While the plan celebrated considerable progress in GDP growth, it also acknowledged significant weaknesses on the employment front. … Read more

Explain the possible limitations in the strategy for poverty alleviation adopted by the Government of India.

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Limitations in India’s Poverty Alleviation Strategy Introduction: India’s poverty alleviation strategy has evolved significantly since independence, transitioning from a focus on command-and-control approaches to more market-oriented and targeted interventions. While progress has been made in reducing poverty, measured by metrics like the Multidimensional Poverty Index (MPI) and poverty headcount ratio, significant challenges remain. This response … Read more

Discuss briefly the guiding principles in setting up the NITI Aayog.

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Introduction: NITI Aayog, the National Institution for Transforming India, replaced the Planning Commission in 2015. This shift marked a significant change in India’s approach to economic planning, moving away from a centrally-planned, command-and-control model towards a more cooperative and federalist structure. The guiding principles behind NITI Aayog’s establishment were rooted in the need for a … Read more

Discuss briefly the major changes involved in the recent revision in the base year and method of national income accounting.

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Major Changes in the Recent Revision of India’s National Income Accounting Introduction: India’s national income accounting, a crucial tool for macroeconomic analysis and policymaking, underwent a significant revision in recent years. The primary change involved shifting the base year for calculating national income and altering the methodology employed. Previously, the base year was 2011-12. The … Read more

Discuss the difficulties faced in measuring the developmental level of the economy and justify whether the current method of measurement in India overcomes these difficulties.

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Measuring India’s Developmental Level: Challenges and the Efficacy of Current Methods Introduction: Measuring the developmental level of an economy is a complex undertaking, far exceeding a simple calculation of Gross Domestic Product (GDP). Development encompasses a multifaceted array of social, economic, and environmental indicators, reflecting the well-being of a nation’s citizens. While GDP provides a … Read more

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