Constitutional Provisions Article 23: Prohibition of traffic in human beings and forced labour. Article 24: Prohibition of employment of children in factories, etc. Article 37: Application of the principles contained in this Part (DPSP). Article 38: State to secure a social order for the promotion of welfare of the people. Article 39: Certain principles of… Continue reading Constitutional Provisions relevant to Social Justice & Empowerment of Vulnerable sections

Jobless Growth in India: Reasons and Consequences The Consequences of Jobless Growth in India

Unemployment in India: Causes Consequences of Unemployment.  

Unemployment in India Back to Basics. What is Unemployment? Unemployment is a phenomenon that occurs when a person who is capable of working and is actively searching for the work is unable to find work. People who are either unfit for work due to physical reason or do not want to work are excluded from… Continue reading Unemployment in India: Types, Causes and Measures

The constitution does not describe the term backward classes. It is up to the centre and the states to postulate the classes that belong to this group. However, it is understood that classes that are not represented adequately in the services of the state can be termed, backward classes. Further, the President can, under Art.… Continue reading Constitutional Provisions for Socially & Educationally Backward Classes (OBCs), Safeguards relating to Educational & Public Employment

Constitutional Provisions for Women There are numerous legal provisions to enhance the status of women which is a more susceptible group in Indian society. Art. 15(3): It permits the state to make special provisions for women and children. Several acts such as Dowry Prevention Act have been passed including the most recent one of Protection… Continue reading Lawful Provisions for Women, Children and Aged in Constitution of India

Analysis of Income Inequality in India In the recent years, India has joined the club of most unequal countries. Based on the new India Human Development Survey (IHDS), which provides data on income inequality for the first time, India scores a level of income equality lower than Russia, the United States, China and Brazil, and… Continue reading Income Inequality in India: Causes, Remedies and Consequences

Inequality in India Back to Basics: Income Inequality Income inequality is the unequal distribution of household or individual income across the various participants in an economy. Income inequality is often presented as the percentage of income to a percentage of the population. The simplest way to understand inequality is by analysing the population by dividing… Continue reading Inequality in India: Definition and Measures; Lorenz Curve, Gini Coefficient, Income held by Top 10%

Laws about vulnerable sections can be seen in two dimensions: Constitutional Statutory There are certain constitutional provisions which cover all vulnerable sections (common to all). Also, there are provisions which deal only with specific sections. Constitutional Provisions for the vulnerable section of SC/ST/OBC and minorities Art. 15(4): Clause 4 of article 15 is the fountainhead… Continue reading Laws for the development and betterment of vulnerable sections

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