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    • Showing posts with label GA/GK. Show all posts
    Showing posts with label GA/GK. Show all posts

    Saturday, 3 February 2018

    Union Budget 2018-19 Highlights (Key & Summary)

    Saturday, February 03, 2018 0
    Union Budget 2018-19 Highlights (Key & Summary)

    Budget 2018-19  Highlights 🗝Key & Summary
    Fiscal Situation 
    small_orange_diamond: Fiscal deficit is 3.5% of GDP at Rs 5.95 lakh crore in 2017-18.
    Projecting fiscal deficit to be 3.3% of GDP in the next fiscal
    GST revenue will be received only for 11 months, that will have an effect on balance sheets.
    Rs 21.57 lakh crores transferred as net GST to states as against projection of Rs 21.47 lakh crores
    Tax 
    85.51 lakh new tax payers filed income tax returns in FY17
    NO PERSONAL INCOME TAX CHANGES PROPOSED IN BUDGET
    Growth in direct taxes (till Jan 15) is 18.7 %
    100% tax deduction is allowed to co-operative societies
    Corporate Tax of 25% extended to companies with turnover up to Rs 250 cr in financial year 2016-17
    Incentives for Senior citizens: Exemptions in income of Rs 10,000 from Banks FD and post offices
    Senior citizens to get Rs 50,000 per annum exemption for medical insurance under Sec 80D
    Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried tax payers
    Govt to reduce hardships faced in realty deals; no adjustment to be made in case circle rate does not exceed 5 pc of sale consideration
    Rs 8,000 crore revenue lost due to standard deduction allowed to salaried employees
    Rs 7,000 cr revenue forgone on account of lower corporate tax for Rs 250 cr turnover cos
    Rs 19,000 cr revenue loss on direct tax in last fiscal
    LONG TERM CAPITAL GAINS EXCEEDING RS 1 L AKH WILL BE TAXED AT 10% WITHOUT INDEXING
    Short term capital tax remains at 15%
    A tax on distributed income at 10%
    Imports and Exports 
    Customs Duty on certain products, such as mobile phones and televisions has been increased, to provide a fillip to ‘Make in India’
    Social welfare surcharge of 10% on imported goods.
    Agriculture
    The government’s emphasis will be on generating higher incomes for farmers, by helping them produce more with lesser cost, and in turn, earn higher income for their produce.
    Jaitley stressed on the fact that India’s agricultural production is at a record high level today. 275 million tonne foodgrains and 300 million tonne fruits and vegetable have been produced in the country.
    The FM said the government wants farmers to earn 1.5 times the production cost, and the Minimum Selling Price (MSP) for the Kharif Crops has been set at 1.5 times the produce price. Jaitley said the Centre will work with states to ensure that all farmer get a fair price.
    Agricultural market and infra fund of Rs 2000 crore fund will be set up to strengthen the market connectivity.
    A sum of Rs 500 cr will be allocated for Operation Green to be launched. It will promote agricultural products.
    Extend the facility of Kisan credit card to fisheries and for animal husbandry
    Rs 10,000 crore set aside for Fisheries and Aquaculture Development Fund
    Rs 10,000 crore set aside for animal husbandry infra fund
    Propose to launch a restructured bamboo mission with a fund of Rs 1200 crore . “Bamboo is green gold,” Jaitley said.
    Agricultural credit target increased from Rs 8.5 lakh crore to Rs 11 lakh core
    Special scheme to manage crop reduce in Haryana, Punjab and Delhi to reduce pollution
    Rural Economy 
    8 crore poor women will get new LPG connections.
    PM Saubhagya Yojana: 4 crore poor people will get power connection.
    The government will spend Rs 16,000 crore on this scheme.
    Govt plans to construct 2 crore toilets in next fiscal year under Swach Bharat Mission
    Government target house for all by 2022. 51 lakh houses have been constructed affordable houses in rural and further 50 lakh houses in urban areas.
    1 cr houses to be built under Pradhan Mantri Awas Yojana in rural areas
    National livelihood scheme gets Rs 5,750 crore .
    In 2018-19, ministries will be able to spend Rs 14.34 lakh crores for creation of livelihood in rural areas.
    Govt gives Rs 9,975 crore for social security schemes for the next fiscal year.
    Education 
    Govt to increase digital intensity in education. Technology to be the biggest driver in improving quality of education: FM Jaitley
    Rs. 1 lakh crore allocated to revitalisation and upgradation of education sector. Promoting learning based outcomes and research.
    By 2022, every block with more than 50 per cent ST population will have Ekalvya schools at par with Navodaya Vidyalayas
    Aims to move from black board to digital board schools by 2022.
    PM reasearch fellows: Govt will identify 1000 Btech students each years and provide them to do PHDs in IIT and IISc, while also teaching undergraduate students once a week at that time.
    Health 
    Aayushman Bharat programme: 1.5 lakh centres will be set up to provide health facilities closer to home.
    Rs 1,200 crore to be allocated for this programme
    Flagship National Healthcare protection scheme, with approximately 50 crore beneficiaries.
    Up to Rs 5 lakh per family per year for secondary and tertiary care hospitalisation.
    World’s largest government-funded healthcare programme.
    Universal health coverage will be expanded after seeing the performance of the scheme
    Rs 600 crore allocated for tuberculosis patients, at the rate Rs 500 per month during the course of their treatment.
    Jaitley announces setting up of one medical college for every three parliamentary constituencies,with 24 New government medical colleges also being envisioned.
    Government also will work on upgrading hospitals to medical colleges
    Social Security 
    PM Jivan Bhma Yojana has benefited 5.22 crore families
    Govt will expand PM Jan Dhan Yojana: Al 16 crore accounts will be included under micro insurance and pension schemes
    1.26 cr accounts opened under Sukanya Samriddhi Scheme
    Social inclusion schemes for Scheduled Castes – Rs 52,719 crore
    Social inclusion schemes for Scheduled Tribes Rs 39,139 crore
    MSME 
    Rs 3,794 crore allocated to the MSME sector in the form of capital support and interest subsidy By 2022, every block with more than 50 per cent ST population will have Ekalvya schools at par with Navodaya Vidyalayas
    Rs 3 lakh crore target has been set for the Mudra Yojana
    Rs 4.6 lakh cr sanctioned under MUDRA Scheme
    Employee-centric schemes
    Govt will contribute 12% of the wages of new employees in EPF in all sectors for next 3 years
    Women contribution to EPF reduced to 8% for first 3 years
    Infrastructure 
    India needs investment of Rs 50 lakh crore in the infrastructure sector
    Construction of new tunnel in Sera Pass to promote tourism
    Out of 100 smart cities 99 cities have been selected, with an outlay of Rs 2.04 lakh crore
    10 prominent tourist sites will be made iconic tourist destinations, with an amalgamation of private funding, marketing and branding
    Bharatmala project: To develop 35,000 KM under phase 1 with an outlay of Rs 5.35 lakh crore
    Govt to introduce pay-as-you-use system for toll payments
    Railways 
    Railway capex has been pegged at Rs 1.48 lakh crore , up from Rs 1.31 lakh crore last year
    Eliminate unmanned railway crossing
    All stations with footfall of greater than 25,000 will have escalators.
    More stations and trains will progressively be built with WiFi and CCTV camera
    Govt to eliminate 4267 unmanned rail crossing in broad gauge in 2 years
    Allocates Rs 11,000 crore Mumbai rail network and Rs 17,000 crore for the Bengaluru metro
    150 km of additional suburban railway networks to be set up in Bengaluru at the cost of Rs 17,000 cr.
    Aviation 
    Airport Authority of India (AAI) has 124 airports. Propose to increase the number by at least 5 times 1 billion trips a year, Rs 60 cr has been allocated to kickstart the initiative
    UDAN Scheme to connect 64 unconnected airports across the country
    Markets 
    Govt to take additional measures to strengthen environment for venture capitalists and angel investors.
    SEBI to consider mandating large corporations to meet 1/4th of their debt needs
    SEBI to mull asking large cos to meet 25% debt from bond market
    RBI norms to nudge companies to access bond market for funds
    Technology 
    Allocation to Digital India scheme doubled to Rs 3073 cr
    5 lakh WiFi HotSpots to provide Broadband access to 5 crore rural citizens, at the cost of Rs 10,000 cr.
    Government will take measures to stop cryptocurrency circulation, as it is not considered legal tender
    Government will explore the usage of Blockchain technology.
    Companies 
    AADHAAR FOR CORPORATES? Govt will evolve a scheme to assign a Unique ID for cos
    Disinvestment target of Rs 80,000 crore for FY19
    National Insurance Co, Oriental Insurance Co and United Assurance Co to be merged into one entity and subsequently listed
    Govt revises divestment target for the current fiscal to Rs 1 lakh crore for FY 18.
    Banking 
    Recapitalisation will pave the way for public banks to lend an additional Rs 5 lakh crore
    Industries 
    Rs 7,148 cr allocated for textile sector
    Miscellaneous 
    Emoluments for President set at Rs 5 lakh, Rs 4 lakh for Vice President, Rs 3.5 lakh for governors
    Emoluments for Parliamentrians: Law for increase in pay based on index to inflation
    Govt earmarks Rs 150 cr to commemorate 150 years of birth of Mahatma Gandhi
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    Friday, 2 February 2018

    Budget 2018 Special Material In PDF Download

    Friday, February 02, 2018 0
    Budget 2018 Special Material In PDF Download
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    Thursday, 1 February 2018

    Today's Headlines- 1 FEB, 2018

    Thursday, February 01, 2018 0
    Today's Headlines- 1 FEB, 2018

    🔖 Today's Headlines

    ✍🏻 Yogi inaugurates Mahesra bridge connecting Nepal to east UP

    ✍🏻 MCD launches new app to improve civic services. Mobile App 311

    ✍🏻 Delhi most polluted among 280 cities where air quality is tracked

    ✍🏻 19th India International Watch & Clock Fair Samaya Bharati 2018 Inaugurated in Mumbai

    ✍🏻 SBI signs Information Utility agreement with NeSL

    ✍🏻 India’s GDP growth fell to 7.1% in 2016-17 from 8.2% in 2015-16: CSO

    ✍🏻 India slips to 42nd place on EIU Democracy Index; US at 21st. Norway has again topped the list,

    ✍🏻 India becomes third largest producer of crude steel

    ✍🏻 Google seals $1.1bn deal to acquire HTC’s talent

    ✍🏻 Paytm, AGTech launch mobile gaming platform Gamepind

    ✍🏻 Google Forays Into Hyperlocal News Through ‘Bulletin’ App

    ✍🏻 Anu Kumar wins first gold medal of Khelo India School Games

    ✍🏻 Table Tennis: Sharath Kamal lifts National Men’s singles title for the eighth time

    ✍🏻 Calicut University confers D.Litt on Mohanlal, P.T.Usha

    ✍🏻 Soumitra Chatterjee presented Legion d’Honneur

    ✍🏻 Renowned Sri Lankan filmmaker Dharmasena Pathiraja passes away

    ✍🏻 Dinesh Shrivastava : Nuclear fuel complex chief.

    ✍🏻 Karanj the 3rd class submarine being launched in Mumbai.

    ✍🏻 ICICI bank quarter 3 net falls 32%.

    ✍🏻 L&T Q3 project climbs 53%.

    ✍🏻 L&T MD & CEO= S N Subrahmanyam.

    ✍🏻 Google allies with L&T for wifi in Pune.

    ✍🏻 Cotomandal international ltd. Chairman = M M Murugappan.
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    Union Budget 2018-19: Analysis

    Thursday, February 01, 2018 0
    Union Budget 2018-19: Analysis



    Union Budget 2018-19:

    Will you be appearing for Banking, Insurance and other Government Job Examinations in 2018? Then to score in General Awareness section it is very important for you to get updates on The Union Budget 2018-19. This will be the last full Union Budget to be presented by Finance Minister Arun Jaitley in the session of Parliament and it will be unlike his previous four such exercises because of the complete overhaul of the indirect tax regime affected by implementing the Goods and Services Tax (GST) last year.

    Candidates who will be appearing for Syndicate Bank PO, Canara Bank PO, SBI Clerk 2018 Exams and all other Competitive Exam should carefully read the Budget Analysis because there is a high possibility that you might face questions from this year's Union Budget in the General Awareness Section. The highlights and analysis of budget are not only important for exam point of view but also this can help you to prepare for the interview of this year's government job recruitment process.

    The Budget, to be the last for this government in view of the general elections due in the first half of 2019, may have two main components: The first part deals with new schemes and outlays for various existing schemes and sectors for the coming fiscal, while the second contains announcements on direct and indirect taxes. With the implementation of single tax regime GST, this year's budget is believed to take into account only those items that still remain outside the purview of GST. It is highly expected that 2018-19 budget could contain changes in customs and excise duties on these remaining products, which for most others have been subsumed under GST. For the rest, you'll have to watch this space for the review of Union Budget 2018-19.

    We will be covering The Union Budget from Examination's Point of View to help you remember all the important points in a simple and easy manner.

    Budget 2018 Takeaways-
    • As per the FM in the Union Budget, India is expected to become the fifth largest economy very soon. 
    • The Growth rate is expected between 7.2-7.5% in the second half of 2017-18.
    • Exports are expected to grow 15% in 2018.
    • As per the FM, India is a Rs2.5 trillion economy.
    • MSP to increase at least 1.5 times that of production cost.
    • Minimum Support Price (MSP) of all crops shall increase to at least 1.5 times that of the production cost. 
    • The government will set up a fund of Rs 2,000 crore for developing agricultural markets.
    • Our focus is on productive and gainful on-farm and non-farm employment for farmers and landless families, says Jaitley.
    • MSP for Kharif cost will be 1.5 times the cost of production.
    • As per the FM, APMCs will be linked with ENAM. 
    • The government will develop 22,000 Gramin agricultural markets. 
    • The cluster-model approach will be adopted for agricultural production.
    • Allocation in food production sector doubled to Rs 1400 crore.
    • Minimum Support Price shall be increased by 1.5 times. Operation Green will be launched for agriculture and the Minister allocates Rs500 crore for this.
    • Agricultural corpus worth Rs 2000 crore will be set up. 470 APMCs have been connected to eNAM network, the rest to be connected by March 2018.
    • A fund for the fishery, aquaculture development and animal husbandry will be set up with a total corpus to be Rs 10,000 crore. We will also allocate Rs 1290 crore for a bamboo mission, as it is green gold. 
    • In all, we are providing Rs 10 lakh crore to Rs 11 lakh crore as credit for agricultural activities.
    • Jaitley proposes to increase the target of providing free LPG connections to 8 crore to poor women.
    • Ujjwala Yojana, the free LPG connection scheme expanded to eight crore households.
    • Six crore toilets have been built already, and in the next year, two crore additional toilets will be constructed.
    • The government will provide 4 crore electricity connections to the poor under Saubhagya Yojana.
    • Kisan credit card to be extended to fisheries,animal husbandry farmers.
    • The government will establish a dedicated affordable housing fund.
    • Loans to self-help groups will increase to Rs75,000 crore.
    • Govt. allocated Rs5,750 crore to National Livelihood Mission and Rs2,600 crore to the groundwater irrigation scheme.
    • Ayushman Bharat program discussed.
    • Eklavya schools for tribal children.
    • 24 new government medical colleges.
    • Government is implementing a comprehensive social security scheme.
    • Govt. will initiate an integrated B-Ed programme for teachers.
    • Government proposes to launch the Revitalising of Infrastructure and Systems of Education (RISE) by next year. 
    • Govt. proposed to set up two new full-fledged schools of planning and architecture. 
    • 18 new schools of planning and architecture will be set up in the IITs and NITs.
    • Rs. 1 lakh crore over 4 years for initiative for Infrastructure Devt. in education.
    • 2 major initiatives as part of Ayushman Bharat program.
    • Eklavya schools to be open for tribal children.
    • National health protection scheme to cover 10 cr poor families. Health cover of up to 5 lakh per family per year for poor & vulnerable. National health protection scheme to benefit 50 crore people.
    • 24 new govt medical college & hospitals.
    • Rs. 600 crore for nutritional support to all TB patients.
    • Rs. 1200 crore for health and wellness centres.
    • Loans to women self-help groups of women to be increased to 75,000 cr by March 19. 
    • Govt. is launching a new national health protection scheme – Rashtriya Samaj Beema Yojana. This will have 50 crore beneficiaries and 10 crore families will get 5 lakh per year for their families to cover secondary and tertiary hospital expenses. This is the world's largest government-funded healthcare program. 
    • A Rs 600 crore corpus is being set up to help Tuberculosis patients. This will build a new India in 2022 and enhance productivity and will also generate lakhs of jobs for women. 
    • PM Jeevan Beema Yojana benefitted more than 2 crore families. 
    • Jan Dhan Yojana will be extended to all 60 crore bank accounts. 
    • The government increased allocation for SC-ST earmarked programmes: Rs 56,000 crore for SCs and Rs 39,000 crore for STs. 
    • By 2022, every block with more than 50% ST population and at least 20,000 tribal people will have 'Ekalavya' school at par with Navodaya Vidyalas.
    • The government will announce measures to address non-performing assets of MSMEs. 
    • As per the FM, Rs. 3 lakh crore for lending under is being allocated in FY 19 for PM's MUDRA Yojana.
    • Smart city Mission and AMRUT discussed.
    • Smart city command control centre discussed.
    • Govt to contribute 12% of wages of new employees to EPF for 3 yrs.
    • Rs. 7148 crore allocation for the textile sector.
    • Govt. will launch a scheme for Galvanising Organic Bio-Agro Resources Dhan (GOBARDHAN).
    • Under the Smart City mission, 99 cities selected with the outlay of Rs. 2.04 lakh crores.
    • EPF contribution has been reduced to 8% for the first 3 years of employment and 12% government contribution to EPF in sectors employing a large number of people, however, there will be no changes in employer contribution.
    • 10 tourist cities to be developed into iconic tourist destinations.
    • 600 railway stations to be redeveloped.
    • Over 3600 km railway track renovation targeted in the current year.
    • Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE - Revitalizing Infrastructure in School Education.
    • The Bharatmala project has been approved and we are confident of completing 9000 km of highway construction. 
    • In Railways, 18,000 kms of doubling of tracks would eliminate capacity constraints. 
    • We are moving towards optimum electrification of the railway. Over 3,600 km of track renewal is being targeted in 2018-19.
    • 150 km additional suburban railway network at the cost ofRs. 40,000 cr.
    • Regional air connectivity scheme shall connect 56 unserved airports.
    • Airport capacity to be hiked to handle 1 billion trips per year.
    • Training for 50 lakh youth by 2020.
    • Govt. to eliminate over 4,267 unmanned level crossings in the next two years. 
    • All railway stations and trains will have WiFi and 150 kilometres of additional suburban corridors in being planned. 
    • Rs. 17,000 crore is being set aside for Bengaluru Metro. 
    • UDAN will connect 56 unserved airports and 36 unserved heliports. 
    • Rs 11,000 crore is being allocated for Mumbai Suburban Railways.
    • 5 lakh WiFi spots to be installed for benefit of 5 crore rural citizens.
    • As per the FM, The Airport Authority of India has 124 airports.
    • The government announced AMRUT program to focus on water supply to all households in 500 cities. Water supply contracts for 494 projects worth 19,428 core will be awarded.
    • Proposal for railway university in Vadodara.
    • Niti Aayog to establish a national program to direct efforts in artificial intelligence.
    • Department of Science will launch a national program for cyberspace. 
    • Allocation of Digital India has been doubled and the government proposes to set up 5 lakh WiFi hotspots. 
    • Government does not consider cryptocurrency as legal tender and will work towards eliminating illicit transactions going on through crypto assets.
    • Disinvestment target of Rs. 80,000 crore for 2018-19.
    • Bank recap to help banks lend additional Rs. 5 lakh crores.
    • 24 Public Sector Units to be divested.
    • The government will involve a scheme to assign every enterprise a unique ID just like Aadhaar. 
    • The Department of Investment and Public Asset Management will come up with debt Exchange Traded Fund. 
    • Gold monetisation scheme to be revamped.
    • Govt revised fiscal deficit for 2017-18 was Rs 5.95 lakh crore or 3.5% of GDP. Jaitley projects deficit of 3.3% of GDP next fiscal.
    • National Logistics Portal as a single online window will link all stakeholders, to be developed by Department of Commerce. 
    • Government insurance companies to be merged into a single entity, and subsequently listed in the stock exchange, as part of the disinvestment programme.
    • Target for 2017-18 has been exceeded and will reach Rs 1 lakh crores.
    • Salaries of President, VP and Governors will be increased. Rs. 5 lakh for President, Rs 4.0 lakh for VP and Rs 3.5 lakh for governors. Salaries of Members of Parliament will also be raised. 
    • A new law will be introduced that will automatically revise MPs' emoluments every five years, indexed to inflation.
    • Govt. announced a Rs 150 crore fund to celebrate the 150th anniversary of Mahatma Gandhi.
    • Rs 11,000 crores will be allocated to Mumbai rail network. 
    • GST revenue for only 11 months, instead of the usual 12 months, is 21.5 lakh crore. 
    • Tax buoyancy for 2017-18 is at 2.11%. 
    • Number of tax payers has increased from 6.47 lakh crores to 8.27 lakh crores.
    • Government to set up two industrial defence industrial development corridors in 2018-19.
    • 100% tax deduction for farmer production firms with 100 cr turnover.
    • 100% tax deduction for the first five years to companies registered as farmer producer companies with a turnover of Rs 100 crore and above. 
    • 12.6% growth in direct taxes in 2017-18.
    • 18.7% growth in indirect taxes in 2017-18. 
    • Employment-based tax incentives will be extended to footwear and leather industry. 
    • The benefits of corporate tax by bringing down the tax rate to 25% for firms that reported turnover up to Rs 250 crores.
    • No change in income tax slabs has been announced by the FM Jaitley, but assesses can avail of a standard deduction of Rs40,000.
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    IMPORTANT ABBREVIATIONS IN ECONOMIC SURVEY 2018 – 2019

    Thursday, February 01, 2018 0
    IMPORTANT ABBREVIATIONS IN ECONOMIC SURVEY 2018 – 2019

    Dear Aspirants,
    Economic Survey is presented by the Department of Economic Affairs, Ministry of Finance every year before the Union Budget is released. The Economic Survey is the Annual Economic Development of the Country from the Finance Ministry’s view. This Economic Survey of India charts down the development programs which are vital to the country and the policy initiatives of the government and also the prospects of the economy in medium or small term.
    The Economic Survey is presented in both the houses of the Parliament during the budget session. The Budget will be released in the forthcoming days and we will also update the Budget Highlights in our website soon.
    Since many abbrevations are asked in the IBPS CLERK MAINS EXAM and also in the recently held south Indian bank Clerk Exam , we thought of providing the important Abbreviations which are mentioned in the Economic Survey 2017 – 2018. This will be a total list of the important abbreviations from the Economic Survey 2017 – 2018.
    • 3MMA                  3 Month Moving Average
    • AAY                      Antyodaya Anna Yojana
    • ARM                     Additional Resource Mobilization
    • ASEAN                Association of South East Asian Nations
    • ASER                    Annual Status of Education Report
    • AT&C                   Aggregate Technical and Commercial
    • BCM                      Billion Cubic Meter
    • BE                         Budget Estimates
    • BPCL                     Bharat Petroleum Corporation Limited
    • BRICS                   Brazil, Russia, India, China and South Africa
    • CAA&A                Controller of Aid Accounts and Audit
    • CAD                      Current Account Deficit
    • CAG                      Comptroller and Auditor General of India
    • CAGR                   Compound Annual Growth Rate
    • CBR                       Cultivated Biological Resources
    • CFPI                      Consumer Food Price Index
    • CGA                      Controller General of Accounts
    • CGST                    Central Goods and Services Tax
    • CIC                        Currency in Circulation
    • CIRP                     Corporate Insolvency Resolution Process
    • CLSS                      Credit Linked Subsidy Scheme
    • CoC                       Committee of Creditors
    • COP                      Conference of Parties
    • CPI                        Consumer Price Index
    • CPI (AL)               Consumer Price Index (Agricultural Labourers)
    • CPI (C)                  Consumer Price Index (Combined)
    • CPI (IW)               Consumer Price Index (Industrial Workers)
    • CPI (RL)               Consumer Price Index (Rural Labourers)
    • CRAR                    Capital to Risk-weighted Asset Ratio
    • CSA                       Climate Smart Agriculture
    • CSO                       Central Statistics Office
    • CTA                      Customs Tariff Act
    • CV                         Coefficient of Variation
    • CwP                       Currency with Public
    • DALYs                 Disability Adjusted Life Years
    • DARE                   Department of Agricultural Research and Education
    • DBT                      Direct Benefit Transfer
    • DBTL                    Direct Benefit Transfer of LPG
    • DDA                     Doha Development Agenda
    • DGCI&S              Directorate General of Commercial Intelligence and Statistics
    • DGFT                   Directorate General of Foreign Trade
    • DIPAM                 Department of Investment and public Asset Management
    • DIPP                     Department of Industrial Policy and Promotion
    • DISCOMS            Distribution Companies
    • DSIR                     Department of Scientific & Industrial Research
    • DTA                      Domestic Tariff Area
    • EBRD                   European Bank for Reconstruction and Development
    • EFTA                    European Free Trade Association
    • EIB                       European Investment Bank
    • e-NAM                  Electronic National Agriculture Market
    • EPCG                   Export Promotion on Capital Goods
    • ER&D                  Engineering R&D
    • ETF                       Exchange Traded Fund
    • EU                         European Union
    • EWRs                   Elected Women Representatives
    • FAO                      Food & Agriculture Organisation
    • FC                          Financial Creditor
    • FCI                        Food Corporation of India
    • FDI                       Foreign Direct Investment
    • FEEs                     Foreign Exchange Earnings
    • FFPI                      FAO Food Price Index
    • FII                         Foreign Institutional Investor
    • FIPB                      Foreign Investment Promotion Board
    • FTAs                     Foreign Tourist Arrivals
    • FTP                       Foreign Trade Policy
    • FY                         Financial Year
    • GCA                      Gross Cropped Area
    • GCC                      Gulf Cooperation Council
    • GCCA                   Grants for creation of capital assets
    • GCF                      Gross Capital Formation
    • GDP                      Gross Domestic Product
    • GFCE                   Government Final Consumption Expenditure
    • GFCF                    Gross Fixed Capital Formation
    • GII                        Global Innovation Index
    • GNI                      Gross National Income
    • GNPA                   Gross Non-Performing Advances
    • GPI                       Gender Parity Index
    • GSDP                    Gross State Domestic Product
    • GST                       Goods and Services Tax
    • GSVA                   Gross State Value Added
    • GT                         Gross Tonnage
    • GVA                     Gross Value Added
    • GW                       Gigawatt
    • HFCs                     Housing Finance Companies
    • HFCs                     Hydrofluorocarbons
    • HPCL                    Hindustan Petroleum Corporation Limited
    •  HPI                      Housing Price Index
    • HYVs                    High Yielding Varieties
    • IBC                        Insolvency and Bankruptcy Code
    • ICAR                     Indian Council of Agricultural Research
    • IGS                        The International Ground Station
    • IGST                     Integrated Goods and Services Tax
    • IMF                       International Monetary Fund
    • IPO                       Indian Patent Office
    • IPP                        Intellectual Property Products
    • IPR                        Intellectual Property Rights
    • IPU                        Inter-Parliamentary Union
    • IRS                        Indian Remote Sensing
    • ISS                         Interest Subvention Scheme
    • IT-BPM                Information Technology – Business Process Management
    • ITC                        Input Tax Credit
    • KCC                      Kisan Credit Card
    • KWh                     Kilowatt Hour
    • LAF                       Liquidity Adjustment Facility
    • LEB                       Life Expectancy at Birth
    • LED                      Light-Emitting Diode
    • LEO                      Low Earth Orbit
    • LFPR                     Labour Force Participation Rate
    • LIC                        Life Insurance Corporation of India
    • LPG                       Liquefied Petroleum Gas
    • LPI                        Logistics Performance Index
    • M/o DWS            Ministry of Drinking Water & Sanitation
    •  M/o H&FW        Ministry of Health & Family Welfare
    •  M/oPR                 Ministry of Panchayati Raj
    • M0                         Reserve Money
    • M3                         Broad money
    • MC11                    Eleventh Ministerial Conference
    • MDGs                   Millennium Development Goals
    • MEIS                    Merchandise Exports from India Scheme
    • MEP                      Minimum Export Price
    • MIG                      Middle Income Group
    • MIP                       Minimum Import Price
    • MLAs                    Member of Legislative Assemblies
    • MMR                     Maternal Mortality Ratio
    • MMT                     Million Metric Tonne
    • MMTPA               Million Metric Tonnes Per Annum
    • MNEs                   Manufacturing Multinational Enterprises
    • MoEFCC              Ministry of Environment, Forest and Climate Change
    • MPC                      Monetary Policy Committee
    • MSF                       Marginal Standing Facility
    • MSME                  Micro, Small & Medium Enterprises
    • MSP                       Minimum Support Price
    • MSS                       Market Stabilisation Scheme
    • MT                        Metric Tonne
    • MW                       Megawatt
    • NABARD             National Bank for Agriculture and Rural Development
    • NAREDCO          National Real Estate Development Council
    • NAS                      National Accounts Statistics
    • NBFC                    Non-Banking Financial Company
    • NBFCs                  Non-Banking Financial Companies
    • NCDs                    Non-Convertible Debentures
    • NCLT                    National Company Law Tribunal
    • NCT                      National Capital Territory
    • NCW                     National Commission for Women
    • NDTL                   Net Demand and Time Liabilities
    • NFC                      Non Food Credit
    • NFSA                    National Food Security Act
    • NHA                     National Health Accounts
    • NHB                     National Housing Bank
    • NHDP                  National Highways Development Project
    • NICRA                 National Innovations on Climate Resilient Agriculture
    • NITI                     National Institution for Transforming India
    • NPAs                    Non-Performing Assets
    • NSDC                   National Skill Development Council
    • NSSO                    National Sample Survey Office
    • ODF                      Open Defecation Free
    • OMSS                    Open Market Sale Scheme
    • OoPE                    Out of Pocket Expenditure
    • P2P                        Peer to Peer
    • PA                         Provisional Actuals
    • PDS                       Public Distribution System
    • PE                         Private Equity
    • PFCE                    Private Final Consumption Expenditure
    • PL                          Personal Loan
    • PMAY                   Pradhan Mantri Awas Yojana
    • PMFBY                 Pradhan Mantri Fasal Bima Yojana
    • PMI                       Purchasing Manager’s Index
    • PMKSY                Pradhan Mantri Krishi Sinchayee Yojana
    • POL                       Petroleum Oil and Lubricants
    • PoS                        Point of Sale
    • PPI                        Producer Price Index
    • PRIs                      Panchayati Raj Institutions
    • PSB                        Public Sector Bank
    • PSBs                      Public Sector Banks
    • PSE                       Public Sector Enterprise
    • PSF                        Price Stabilization Fund
    • PTR                       Pupil Teacher Ratio
    • PVB                       Private Sector Bank
    • QFI                       Qualified Foreign Investor
    • R&D                     Research and Development
    • RBI                        Reserve Bank of India
    • RE                         Revised Estimates
    • REITs                   Real Estate Investment Trusts
    • RGI                       Registrar General of India
    • RMSA                   Rashtriya Madhyamik Shiksha Abhiyan
    • RoA                       Return on Assets
    • RoE                       Return on Equity
    • RRBs                     Regional Rural Banks
    • RRR                       Reverse Repo Rate
    • RSA                       Restructured Standard Advances
    • RTE                      Right to Education
    • SA                          Stressed Advances
    • SBM(G)                Swachh Bharat Mission (Gramin)
    • SCB                       Scheduled Commercial Bank
    • SDG                      Sustainable Development Goal
    • SDGs                    Sustainable Development Goals
    • SDR                       Special Drawing Rights
    • SEBI                     Securities and Exchange Board of India
    • SEIS                      Services Exports from India Scheme
    • SGST                     State Goods and Services Tax
    • SHG                      Self Help Group
    • SLR                        Statutory Liquidity Ratio
    • SRR                       Seed Replacement Rate
    • SSA                        Sarva Shiksha Abhiyaan
    • SUUTI                  Specified Undertaking for Unit Trust of India
    • TAN                      Tax Deduction Account Number
    • TB                         Treasury Bill
    • TPDS                    Targeted Public Distribution System
    • TRAI                     Telecom Regulatory Authority of India
    • UDAY                  Ujjwal Discom Assurance Yojna
    • UDISE                  Unified District Information System for Education
    • ULBs                     Urban Local Bodies
    • UN                        United Nations
    • UNCTAD             United Nations Conference on Trade and Development
    • UNDP                   United Nations Development Programme
    • UNESCO             United Nations Educational, Scientific and Cultural Organization
    • USD                      United States Dollar
    • USGS                    United States Geological Survey
    • UTs                       Union Territories
    • VGF                      Viability Gap Funding
    • VRR                      Varietal Replacement Rate
    • WACR                  Weighted Average Call Rate
    • WPI                       Wholesale Price Index
    • WTO                     World Trade Organization
    Take a short Quiz from the Abbreviations which you have studied from the list above. This will help you to benchmark your preparations in the abbreviations side. Take the Quiz and comment your scores in the comment section. 
    1. What is the Full form of CRAR ?
    (A) Capital to Risk-weighted Asset Returns
    (B) Capital to Right-weighted Asset Ratio
    (C) Capital to Risk – with Assets Ratio
    (D) Capital to Risk-weighted Asset Ratio
    (E) Capital to Risk-weighted Appropriate Ratio
    2. What is the Full form of GNI ?
    (A) Gross National Income
    (B) Gross Neutral Income
    (C) General National Invoice
    (D) Gross Near Incorporate
    (E) General National Income
    3. What is the Full Form of IBC ?
    (A) Insolvency and Bankruptcy Code
    (B) Insolvency Banking Code
    (C) Indirect Banking Corporate
    (D) Inherited Bank Cash
    (E) Insolvency Bank Cycle
    4. What is full form of SCB ?
    (A) Scheduled Corporate Banks
    (B) Single Concerned Banks
    (C) Separate Corporate Banks
    (D) Segregated Commercial Banks
    (E) Scheduled Commercial Banks
    5. What is the full form of CPI ?
    (A) Consumer Price Index
    (B) Consumer People Index
    (C) Costlier Price Incentive
    (D) Cost Per Index
    (E) Corporate Price Incentive
    6. What is the full form of FII ?
    (A) First Insitutional Investigator
    (B) Foreign Institutional Investor
    (C) Field Investor Institutions
    (D) Foreign Investor Investigation
    (E) Foreign Investor Institution
    7. What is the Full Form of IRR ?
    (A) Investor Reusable Rate
    (B) Internal Repo Rate
    (C) Initial Return of Rate
    (D) Internal Rate Of Return
    (E) Immediate Return Rate
    8. What is the full form of NFA ?
    (A) No Frills Account
    (B) No Fade Amounts
    (C) Number of Find Amount
    (D) Next Freezing Account
    (E) Numbered Fixed Account
    9. What is the full form of SRR ?
    (A) Statutory Required Rate
    (B) Seed Replacement Rate
    (C) Send Recovery Rate
    (D) Serial Repo Rate
    (E) Serial Random Recovery
    10. What is the full form of FRN ?
    (A) Floating Rate Note
    (B) Fixed Repo Rate
    (C) Flying Reversed Rate
    (D) Floating Repo Rate
    (E) Finding Removed Rate
    Aspirants can check the answers for the above questions from the options provided below and please comment the scores from the quiz in the link below. 
    1. (D)
    2. (A)
    3. (A)
    4. (E)
    5. (A)
    6. (B)
    7. (D)
    8. (A)
    9. (B)
    10. (A)
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