The Balance of Payment (BOP) is a record of all economic transactions made between a country and the rest of the world in a given time frame. It includes trade in goods and services, as well as financial transactions such as investments and loans. Understanding the BOP is important for policymakers, businesses, and individuals, as …
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SIPRI, which stands for the Stockholm International Peace Research Institute, is a non-profit organization that specializes in research and analysis on peace and security issues. Founded in 1966, the institute is dedicated to advancing the cause of peace through research, publications, and conferences. In this article, we will discuss SIPRI and its importance in the …
The public sector in India is a vital part of the country’s economy, providing essential goods and services to its citizens. In this article, we will discuss the role of the public sector in India’s economy, the different types of public sector enterprises in India, and the challenges faced by them. Types of Public Sector …
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Economic Growth and Economic Development are closely related concepts, but they differ in terms of their objectives, focus, and outcomes. Economic growth is one of the important components of economic development, but it is not the only one. Economic development aims to achieve long-term, sustainable improvement in the quality of life of the population, while …
National Income Accounting is a method used to measure and analyze the economic activity of a country or region. It involves the collection, recording, and analysis of economic data to determine the size and composition of a country’s economy, and to track changes in economic activity over time. National Income Accounting involves the use of …
There are several different types of economy depending on the ownership of the factors of production. Types of Economy Market Economy: In a market economy, the allocation of resources is determined by supply and demand. Prices are set by the market and businesses are free to compete with one another to produce goods and services. …
Economics is the study of how societies allocate resources to satisfy unlimited wants and needs. It is a social science that explores how people make choices, how those choices interact, and how they affect markets. Economists use models and theories to analyze the behavior of individuals, businesses, and governments in the production, distribution, and consumption …
The Liberalised Remittance Scheme (LRS) is a facility provided by the Reserve Bank of India (RBI) that allows resident individuals to remit money outside India for various purposes. Under this scheme, individuals can remit up to USD 250,000 per financial year (April-March) for permissible transactions. What is Remittance? Remittance refers to the transfer of money …
Coal is a black or brownish-black sedimentary rock composed primarily of carbon along with various other elements, such as sulfur, hydrogen, oxygen, and nitrogen. In this article, we will discuss about the Distribution of Coal in India. Types of Coal Coal is formed from the remains of ancient plants and is classified into four main …
Coal is a significant contributor to India’s economy, accounting for a significant portion of its energy needs. India is the world’s second-largest producer of coal, with production reaching 729 million tonnes in the fiscal year 2019-2020. The country’s coal production is mainly focused in the eastern and central parts of the country, where large reserves …