Economy

Answer : The outbreak of Coronavirus disease 2019 (COVID-19), first identified in Wuhan, the capital of Hubei, China, in December 2019 and since then having spread globally, has been recognised as a pandemic by the World Health Organization. India is widely affected by this pandemic. Taking into consideration its severe intensity, seen in the context of India having the highest rate of density population in the world, the Governments, both at Union and State levels, commenced necessary ....

Answer : With so many events happening throughout the year, Indian economy has seen some major ups and downs. From the demonetisation shock to the landmark GST passage, recent economic reforms are significant and are of far reaching importance. In the most surprising and unspeculated move of 2016, Prime Minister Narendra Modi on November 8 announced the decision to withdraw Rs 500 and Rs 1,000 bank notes in a bid to crack down on black money.The government ....

Answer : E-commerce is a win-win situation for the consumer and the product/service provider. The various advantages E-Commerce offers to them can easily be elicited. The distinct advantages e-commerce can offer to the consumers include but are not confined to them only. Consumers have a much wider choice available on the cyber market. They bear lower costs for products due to increased on-line competition among sellers. Because of wide-scale information dissemination, consumers can compare products, features, prices ....

Answer : Foreign Direct Investment (FDI) in retail means foreign direct investment in the Indian retail business. The retail business can be either a single brand retail business or multi brand retail.At present, foreign direct investment (FDI) in pure retailing is not permitted under Indian law. Government of India has allowed FDI in retail of specific brand of products. But the major concern is regarding the government’s decision to allow FDI of 51% under multi brand retail.

Now ....

Answer : In a developing economy like India, prices usually display an upward trend. But if prices keep rising persistently, they cause great hard­ship to the people. They spare neither the rich nor the poor, neither the producers nor the consumer. They make a economic activities uncertain and unstable, causing great unrest in the minds of the people.

Prices are expressed in terms of money. When the rupee or any other currency buys much less than what it ....

Answer : India’s economic growth has accelerated significantly over the past two decades and so, too, has the spending power of its citizens. India is a big country that consists of various segments of consumers, based on income, class and status. Real average household disposable income has roughly doubled since 1985. With rising incomes, house- hold consumption has soared and a new Indian middle class has emerged.

The combination of rapidly rising household incomes and a robustly growing ....

Answer : India does not lack in renewable energy resources such as sunlight, biomass and wind. Ours is the only nation in the world to have a dedicated ministry for the same, the Ministry of Non-Conventional Energy Sources (MNES), which is now known as the Ministry of New and Renewable Energy. The department is responsible for promoting renewable energy technologies, creating conducive environment for promotion and commercialization of these technologies, resource assessment, extension, etc.

India can definitely look ....

Answer : Liberalization means the dismantling of trade barriers between nations and the integration of the nations economies through financial flow, trade in goods and services, and corporate investments between nations. It resulted in the globalization of Indian economy. It has increased across the world in recent years due to the fast progress that has been made in the field of technology especially in communications and transport. The government of India made changes in its economic policy ....

Answer : Black economy is variously referred to as unaccounted economy, illegal economy, subterranean economy or unsanctioned economy. It is also called parallel economy as it runs parallel to the legitimate economy. For a proper understanding of black economy it would be appropriate if we first understand black money--the very basis of black economy. In a general way, one may define black money as the money that is generated by activities that are kept secret in the ....

Answer : The monsoon affects the Indian agriculture in a substantial measure and its impact is indeed very apparent. Therefore, a former Finance Minister referred to the country’s budget as “a gamble in monsoon rains.

India is popularly known as the land of monsoons. Scientifically speaking, monsoon winds are caused due to the difference in land and sea temperatures. The sweep of this wind system is set in the rhythm of summer and winter seasons. The land surface ....

Answer : Over the past two hundred years mankind has managed to do more damage to the environment through exorbitant use of fossil fuels.We have caused acid rain which affects our fauna, trees, and water systems, and we have depleted the ozone layer. Some cities have such dangerous level of pollution in the atmosphere that on certain days people wear masks (usually people who have respiratory illnesses). Incidents of respiratory related illnesses as well as non-smoking related ....

Answer : Globalization refers to global alliance and reliance in the matters of trade, culture and economy. It heavily banks upon worldwide expansion and integration. Due to amazing innovation and rapid advancement in the field of information technology, the world has literally shrunk into a village today. Globalization has virtually swept away the political boundaries.

No distance is now big enough and no country or nation really foreign! Due to the staggering volumes of business and the astounding ....

Answer : Tourism plays a vital role in the economic development of a country. Tourism is the second largest foreign exchange earner in India. The tourism industry employs a large number of people, both skilled and unskilled. It promotes national integration and international brotherhood.

India has fascinated people from all over the world with her secularism and her culture. There are historical monuments, beaches, places of religious interests, hill resorts, etc. that attract tourists. Every region is identified ....