GS paper 3

FRBM Act, Introduction, Objective, Need & Features

FRBM Act The Financial Responsibility and Budgeting Management Act, often known as the FRBM Act, was established by the Indian Parliament to improve fiscal stability, reduce the fiscal deficit, achieve macroeconomic stability, and regulate public money by advancing towards a...

Inclusive Growth, Meaning, Elements, Challenges & Measures Taken

Inclusive Growth Inclusive growth is a concept used in economics to describe rising living levels among a wide population. From a political standpoint, inclusive growth is crucial since it can have a negative impact on political outcomes if it is...

Depreciation and Appreciation of Currency, Definition, Causes, Impacts

Depreciation and Appreciation of Currency In the vast realm of economics, the value of a nation's currency remains at the very core of its economic stability and global interactions. The fluctuation of exchange rates plays a pivotal role in shaping...

Drip Irrigation System, Components, Advantages, Limitations

Drip Irrigation System In today's ever-changing agricultural landscape, the need for efficient and sustainable irrigation methods has become increasingly crucial. As water resources become scarcer and the demand for food production rises, innovative techniques like drip irrigation have emerged as...

Irrigation System in India, Types, Features, Advantages, Disadvantages

Irrigation System In the vast realm of agriculture, the significance of a reliable irrigation system cannot be overstated. As water scarcity and unpredictable rainfall patterns continue to pose challenges to crop cultivation, an efficient and sustainable irrigation system becomes an...

Double Taxation Avoidance Agreement (DTAA), Objective, Benefits

Double Taxation Avoidance Agreement (DTAA) In today's globalized world, where businesses and individuals frequently engage in cross-border transactions, taxation can become a complex and burdensome issue. The existence of different tax systems across countries often leads to the possibility of...

External Sector of India, Components, Reforms, Significance

External Sector of India The External Sector of India plays a crucial role in shaping the country's economy. It encompasses a wide range of activities related to international trade, investments, and financial transactions. With a rapidly globalizing world and increasing...

External Commercial Borrowing (ECB), Meaning, Advantages, Disadvantages

External Commercial Borrowing External Commercial Borrowing (ECB) has emerged as a vital financial instrument for countries seeking to augment their capital resources and promote economic growth. In an interconnected global economy, nations often rely on external sources to fund large-scale...

Core Sectors of Indian Economy, Details, Eight Core Sectors

Core Sectors of Indian Economy The main or core industries that make up the Indian economy are called core sectors. The eight industries that are considered to be the Core Sectors of our nation are crude oil, coal, natural gas,...

LPG Refoms in India, Objectives, Effects, Significance

LPG Reforms in India In the wake of rapid globalization and the pursuit of economic progress, India underwent a transformative phase that reshaped its economic landscape. Liberalisation, Privatisation, and Globalisation (LPG) reforms emerged as the catalysts behind this significant shift,...