Did you know? [ Part-I ]

1. For a poor country such as India with a large mass of people steeped in poverty and misery, increase in national income by itself is not enough-instead, consistent increase in per capita income over a period, along with improvement in quality of life is the yardstick to judge the economic development of India.

2. The International Conference on Population and Development (ICPD) held at Cairo in 1994 also laid stress on empowering women as a means of improving the quality of life, which is same as the India’s New Population Policy.

3. Punjab is also the second-largest producer of cotton and blended-yarn and the third-largest producer of mill-made fabrics in India. The advance estimates for 2008-09 projects Punjab state economy to be growing at the rate of 6.26%.

4. Punjab State is predominantly an agricultural state with two-third of its population directly or indirectly dependent on agriculture. And thus, helps in increasing the Indian Economy.

5. Gross Fixed Capital Formation in India increased to 4806.43 INR Billion in the third quarter of 2013 from 4574.59 INR billion in the second quarter of 2013.

6. Good quality infrastructure is most critical physical requirement for attaining faster economic growth in a competitive world and also for ensuring investment in backwards regions.

7. Kerala has the highest rate of employment.

8. Agricultural development is central to economic development of the country.

9. The Second Five-Year Plan programme for industrialisation was based on the Industrial Policy Resolution of 1956.

10. India’s key exports in 2012 were petroleum products which generated $56bn, followed by gems and jewellery with $47bn. Pharma products, transport equipment, machinery and readymade garments are also big exports for India.

11. Crude petroleum is India’s biggest import with $155 bn spent on it in 2012. Imports of gold and silver amounted to $62 bn and electronic goods and pearls and precious stones are also top import items for the country.

12. Apart from the CRR, banks are required to maintain liquid assets in the form of gold, cash and approved securities.

13. Agricultural subsidies in developed countries are of the order of one billion dollars a day or about $350 billion dollars per annum. This figure, at the time of the Uruguay Round, was stated to be around $ 250 billion. Thus, whatever be the exact figure, there has been a significant increase in agricultural subsidies in developed countries.

14. India joined GATT on 8 July, 1948.

15. The number of rural landless families increased from 35 per cent in 1987 to 45 per cent in 1999, further to 55 per cent in 2005. The farmers are destined to die of starvation or suicide. Replying to the Short Duration Discussion on Import of Wheat and Agrarian Distress on May 18, 2006, Agriculture Minister Sharad Pawar informed the Rajya Sabha that roughly 1,00,000 farmers committed suicide during the period 1993-2003 mainly due to indebtedness.

16. Acharya Vishnugupt (Chanakya) once said that the state should not indulge in business.

17. In May 2004, the Government adopted National Common Minimum Programme, which outlined the policy of the Government with respect to the Public Sector.

18. Punjab, the richest state in India that throbs with the vibrant culture, has always moved on the path of prosperity. The state known as the “Food basket and Granary of India”, has been awarded National Productivity Award for agriculture extension services for consecutively ten years from 1991-92 to 1998-99 and 2001 to 2003-04.

19. Punjab has been declared as one of the best states in India in terms of rail, road and transport network as per National Council of Applied Economic Research (NCAER), 2007.

20. A person authorised by the government can enter any premises, search and seize goods, documents, things and conveyances. Such search and seizure should be as per provision of the Criminal Procedure Code (Section 10 of FTDR).

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