The World Trade Organisation (WTO) A Brief History The Shortcomings of GATT As a result of these shortcoming’s the WTO was established as an international organization that will oversee the operation of rule based multilateral trading system. The WTO is based on series of trade agreements negotiated during the Uruguay Round (1986-1994). The Marrakesh treaty… Continue reading The World Trade Organisation (WTO) and India

Asian Development Bank The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest region on the Earth. A resolution passed at the first Ministerial Conference on Asian Economic Cooperation held by the United Nations… Continue reading International Economic Institution’s: ADB, BRICS Bank, AIIB

Vulnerable groups Vulnerable groups are those groups of society which would be susceptible under any unfavourable situations such as where the adults are not capable to provide a satisfactory living for the household due to health issues like disability, illness, age or some other characteristic, and groups whose resource endowment is poor to provide sufficient… Continue reading Backward Classes: Definition and present living conditions

International Economic Institution’s World Bank and Associated Institutions The World Bank Group (WBG) is a family of five international organisations that make leveraged loans to developing countries. It is the largest and most famous development bank in the world and is an observer at the United Nation Development Group. The World Bank The International Bank for Reconstruction… Continue reading International Economic Institution’s: The Breton Woods Twins- World Bank and IMF

Foreign Exchange Rate Determination Foreign Exchange Rate is the amount of domestic currency that must be paid in order to get a unit of foreign currency. According to Purchasing Power Parity theory, the foreign exchange rate is determined by the relative purchasing powers of the two currencies. Example: If a Mac Donald Burger costs $20… Continue reading Foreign Exchange Rate Determination in India and Types of Exchange Rate

Note4Students: External Commercial Borrowings An external commercial borrowing(ECB) is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs (public sector undertakings). ECBs include commercial banks loans, buyers’ credit, suppliers’ credit, securitised instruments such as floating rate notes and fixed rate bonds etc., credit from official export credit agencies… Continue reading FDI and FPI in India, External Commercial Borrowings, Foreign Exchange Reserves in India

BOP on Current Account Versus BOP on Capital Account Current Account Capital Account BOP on current account includes the sum of three balances. Goods Balance Services Balance Unilateral Transfers BOP on capital account includes the sum of two balances Long Term Capital Account Short Term Capital Account BOP on Current Account is also called Net… Continue reading India’s BOP Performance: Balance of Payment versus Balance of Trade, Current Account versus Capital Account

India’s Balance of Payment’s Balance of Payment Account Bop is the oldest and the most important statistical statement for any country. In a nutshell BOP of a country is “a systematic record of all economic transactions between the residents of one country with the residents of the other country in a financial year”. Economic Transactions… Continue reading India’s Balance of Payments: Current Account, Capital Account, Goods and Services Account

Separation of power in the USA The United States Constitution has a more rigid separation of powers than the Constitutions of other democracies. In the United States Constitution, Article 1 Section I gives Congress only those “legislative powers herein granted” and proceeds to list those permissible actions in Article I Section 8, while Section 9… Continue reading Separation of power in other countries

The debate about the doctrine of separation of powers, and exactly what it involves in regard to Indian governance, is as old as the Constitution itself. Apart from the directive principles laid down in Part-IV of the constitution which provides for separation of judiciary from the executive, the constitutional scheme does not provide any formalistic… Continue reading Judicial pronouncements on the doctrine of separation of powers in India, Judicial review

Indian state represents a contemporary approach in constitutionalising the doctrine of separation of powers. Essentially, there is no strict separation of powers under constitution, both in principle and practice. In India, there are three distinct activities in the Government through which the will of the people are expressed. The legislative organ of the state makes… Continue reading Doctrine of separation of powers in India

It is established in documents that dogma of separation of powers considers the idea that the governmental functions must be based on a tripartite division of legislature, executive and judiciary. The three organs should be separate, distinct and independent in its own sphere so that one does not intrude the territory of the other. Previous… Continue reading Theory of Separation of Powers and its Major objectives

Recognizing that e-Governance is playing an increasingly important role in modern governance, various agencies of the Government and civil society organizations have taken a large number of initiatives across the country. Key models implemented in the country  Customs and Excise (Government of India) 98% of export and 90-95% of import documentation computerized. Electronic filing through… Continue reading e-governance: Models, Successes and Opportunities

There are many challenges in implementing E-governance model in India as well as at global scale. The actual challenge is how to develop and withstand successful e-governance projects and deliver state of the art e-services to inhabitants. Unfortunately, it is not as easy to develop e-governance website in service delivery mechanism. Efficacious e-governance initiatives can… Continue reading Challenges to e-governance and requirements for successful implementation

E-Governance is the use of information and communication technologies to support good governance. It has the following main applications: Government To Citizen (G2C) G2C will aim at connecting citizens to government by talking to citizens and supporting accountability, by listening to citizens and supporting democracy, and by improving public services. It will involve better services… Continue reading Applications of e-governance, Essentials for achievement

E-Governance implemented by the government of India allows for government transparency. Government transparency is significant because it allows the public to be informed about what the government is working on as well as the policies they are trying to implement. It encourages accountability in all government dealings, in recent times many Indian states have come… Continue reading Interactions between main groups in e-governance, Action plan for India