Economics (Part-vi) (Railway)

West Bengal Chief Minister Mamata Banerjee on 15 February 2021 launched "Maa" canteens for providing subsidised cooked meals for the poor and the destitute at a nominal cost of Rs. 5.

• The government will give a subsidy of Rs. 15, and people will have to pay Rs. 5.

• The kitchens will be run by self-help groups.

The 16th Annual Status of Education Report (ASER) 2021 (Rural) was released by Pratham foundation on 17 November 2021.

• ASER reports on the schooling status of children in the 5-16 age group across rural India and their ability to do basic reading and arithmetic tasks.

Revenue Receipts refer to those receipts which neither create any liability nor cause reduction in the assets of the government.

• Revenue Receipts are classifiled under two heads 1 Tax Revenue ii Non-Tax Revenue.

• It includes the proceeds from taxes and other duties levied by the government the interest and dividend it receives on its investments; and the fees and charges the government receives for its services.

Arohan is a Kolkata-based microfinance Institution, providing group and individual credit products to customers in Assam, West Bengal and Bihar.

• It was established in 2006 in Kolkata.

• It is eastern India's largest NBFC MFI.

The foremost aim of the Sixth Five Year Plan in India (1980-1985) was the removal of poverty.

• It also aimed for higher growth rate, removal of unemployment, improved productivity, modernization of technology and significant reduction in the disparities of income and wealth.

Budget set is the collection of all bundles of goods that a consumer can buy with his income at the prevailing market prices.

• In other words, it represents those consumption bundles that the consumer can purchase using his/her money Income (M).

In 2014, the Reserve Bank of India (RBI) recognized MFIN as a Self-Regulatory Organization (SRO) for the NBFCMFI, making MFIN the first industry association to be accorded recognition as an SRO by the RBI.

• Under the SRO function, MFIN's primary objective is to support member NBFC-MFIs in adhering to regulatory and industry standards, with focus on customer welfare and protection.

The Consumer Complainta Councilis the consumer complaint body of the Advertising Standards Council of India.

• It examines and investigates the complaints received from the consumers and the general public, regarding any breach of the Code of Conduct and/or advertising ethics and recommend the action to be taken in that regards.

• The CCC decides upon the complaints within a period of 4 to 6 weeks.

India 's First Five-Year Plan (Based on Harrod domar model) covered the period of 1951-1956.

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

In the short run, some of the factors of production cannot be varied, and therefore, remain fixed.

• The cost that a firm incurs to employ these fixed inputs is called the total fixed cost (TFC).

• Whatever amount of output the firm produces, this cost remains fixed for the firm.