Economics (Part-IV) (Railway)

At present time total number of nationalie banks are 12.

• It is the money that is available for household consumption, savings, and spending after accounting for income tax.

• It was further extended for another three months (October 2022-December 2022) on 28 September 2022.

• PM-GKAY has been under implementation since April 2020.

• It is formulated by the Union Ministry of Finance.

• With the introduction of new policies and programmes, it was finally restructured in 2006 and has been in operation at present.

• It aims to eradicate poverty and to improve the quality of life of the poor and the under privileged population of the country.

• Owners of a Salon, Rickshaw pullers, and vegetable vendors are examples of self-employed.

• More than half the workforce in India belongs to this category.

• The commission will review the current status of the finance, deficit, debt levels, cash balances and fiscal discipline efforts of the Union and the states.

• It will cover five-year period commencing April 1, 2020.

• Finance commission Formation by the president every five year.

• The loan has been provided by the International Bank for Reconstruction and Development (IBRD) arm of World Bank and has a maturity of 15 years.

• These economic reforms are called as economic liberalisation.

• Dr. Manmohan Singh, then Finance Minister, launched India's free market reforms that brought the nearly bankrupt nation back from the edge.

• Changes in price can be reflected in movement along a demand curve, but by themselves, they do not increase or decrease demand.

• The shape and magnitude of demand shifts in response to changes in consumer preferences, incomes, or related economic goods, NOT to changes in price.