Economics (Part-v) (Railway)

Primary Deficit is the difference between the current year's fiscal deficit (total income - total expenditure of the government) and the interest paid on the borrowings of the previous year.

• It is the amount by which the total expenditure of a government exceeds the total income.

• Primary deficit also shows the borrowing requirements need-ed for meeting the expenditure of the government.

The Central government restructured and renamed the Multi-sectoral Development Programme (MsDP) as Pradhan Mantri Jan Vikas Karyakram in 2018. (PMJVK).

•  It is a Ministry of Minority Affairs sponsored scheme.

IIT Hyderabad has jointly developed 'Swarajability - India's 1st Al triggered Job Platform for Persons with Disabilities with Youth4Jobs & Visual Quest with support from Kotak Mahindra Bank Ltd.

• The Principal Scientific Adviser to the Government of India, Prof. K. Vijay Raghavan, soft-launched (beta-version) this platform in March 2022.

• The portal, powered by artificial intelligence, helps people with disabilities acquire relevant skills and find jobs.

Ex-Ante demand refers to the desired demand or planned demand during the period of one year.

• This is the market demand which is intended to be expected in the economy during the period of one year by the consumers.

• In a two sector (Household and Firm) economy, ex-Ante Aggregate Demand (AD) for final goods is the sum total of ex-ante consumption expenditure (C) and ex-ante investment expenditure (I) on final goods.

Mahindra & Mahindra Financial Services Limited (MMFSL) is an Indian rural non-banking financial company headquartered in Mumbai.

• It is amongst the top tractor financers in India, with 1000+ offices across the country.

• It is registered with the Reserve Bank of India as an asset finance, deposit taking NBFC.

The gross fiscal deficit (GFD) is the excess of total expenditure including loans net of recovery over revenue receipts (including external grants) and non-debt capital receipts.

• It can be written as Total Expenditure - (Revenue Receipts + Non-debt creating Capital Receipts)

India 's First Five-Year Plan covered the period of 1951-1956.

• First five year plan based on Harrod-domar model.

• India's first Prime Minister Jawaharlal Nehru presented the First Five-Year Plan (Focused on agriculture) to the parliament on 9 July 1951.

Consumer theory is the study of how people decide to spend their money based on their individual preferences and budget constraints.

• It shows how individuals make choices subject to how much income they have available to spend and the prices of goods and services.

The scheme of Naya Savera aims to empower the students belonging to minority communities and prepare them for competitive examinations, so that their participation in government and private jobs improves.

• The scheme provides financial support for free coaching to notified minority students in selected coaching institutions.

A budget deficit occurs when expenses exceed revenue and can indicate the financial health of a country.

• It is the difference between all receipts and expenses in both revenue and capital account of the government.

• Budget deficits affect the national debt, the sum of annual budget deficits, and the cumulative total a country owes to creditors.