Economics (Part-V) (Railway)

• The minor forest produce collected by the tribes people of Nilambur, including wild honey, will now be known under the brand Adavi.

• The major programmes of the initiatives are Programme on Energy Storage Solutions Digitalisation of Energy Systems and Networks Integrated Technology Interventions for Sustainable Environment Industrial Waste Water.

• In October 1983 the Grameen Bank was authorised to operate as an independent bank.

• In 2006, the bank and its founder, Muhammad Yunus, were jointly awarded the Nobel Peace Prize.

• This scheme offers subsidised financial assistance to set up self-employment ventures in the manufacturing, trading, and service sectors.

• It aimed to provide certain basic minimum needs and Improve the living standards of people.

• In addition, for accounts opened between 15th August 2014 and 26th January 2015, a Life Insurance cover of Rupees 30,000 is available to the eligible beneficiaries.

• One of the salient features of Pradhan Mantri Jan Dhan Yojana is that after remaining active for 6 months, the account holder will become eligible for an overdraft of up to Rs. 5,000.

• MPC is that part of additional income which is spent on additional consumption.

• In other words, it measures the ratio of change in consumption expenditure as a result of change in income.

• MPC is always greater than zero (MPC > 0) but less than 1 (MPC < 1).

• The reason is that incremental income can be either consumed or entirely saved.

• In the second five-year plan (1956-61) he emphasized industrialisation on the basis of a two-sector model.

• His variant of Wassily Leontief's Input-output model, the Mahalanobis model, was employed in the Second Five Year

• Recharging groundwater to provide regular water supply and restoring water levels in downstream rivers, etc.

• In the long run, profits and losses are eliminated because an infinite number of firms produce infinitely divisible, homogeneous products.

• So, under perfect competition. the firm earns normal profit.