Started a New Series on Economics

Topicwise Previous Year Questions (PYQs) Economy Section

Practise the Questions in the Comments and also discuss the concepts with each other

Let's make a good practice of PYQ's Together

A Thread 🧵 Year: 2023

1] Consider the following statements with reference to India:

1. According to the ‘Micro, Small and Medium Enterprises Development (MSMED) Act, 2006’, the ‘medium enterprises’ are those with investments in plant and machinery between 15 crore and 25 crore.
2. All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector.

Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

2] With reference to Central Bank digital currencies, consider the following statements:

1. It is possible to make payments in a digital currency without using US dollar or SWIFT system.
2. A digital currency can be distributed with a condition programmed into it such as a time- frame for spending it.

Which of the statements given above is/are correct?
a) 1 only                            b) 2 only
c) Both 1 and 2                 d) Neither 1 nor 2

3] Consider the following statements:

1. The Self-Help Group (SHG) programme was originally initiated by the State Bank of India by providing microcredit to the financially deprived.
2. In an SHG, all members of a group take responsibility for a loan that an individual member takes.
3. The Regional Rural Banks and Scheduled Commercial Banks support SHGS.

How many of the above statements are correct?
a) Only one                        b) Only two
c) All three                         d) None

What is a Forest?

This simple question has been the subject of a long legal battle involving the SC, Govt & many more

How does the SC’s latest order on the definition of forest affect the Forest (Conservation) Act 1980

Let's Explore from #UPSC Prelims - 2024 view

A Thread 🧵 The Context and the Content of the SC’s Order

- The SC has directed all govt’s to follow a ‘broad & all-encompassing’ definition of forest, as per the T N Godavarman case of 1996, until a consolidated record of all kinds of forests is prepared

- This order is important because it affects the legal status and protection of a large area of land that has natural vegetation, irrespective of its ownership, classification, or notification

- It is in line with the constitutional mandate of Article 48A and Article 51A(g), which require the state and the citizens to protect and improve the environment

Important Acts & Reforms Under East India Company for #UPSC Prelims - 2024

(Bookmark this for Quick Revision During the Exam 🔖)

A Thread🧵 1. Regulating Act, 1773

- Establishment of Supreme Court in Calcutta (1774)

- 'Governor- General post to Governor of Bengal

- Appointment of Warren Hastings as Governor-General of Bengal

- Control of Governor-General of Bengal over three Presidential (Bombay, Madras and Calcutta)

Shark Tank India has been quite a popular show in recent days

But, I observed that many people hardly understand their business terms

So here I explain 25 Business terms for basic Understanding

(Note: Not maybe imp for #UPSC Standpoint but for GK you can read )

A Thread🧵 1. Valuation: It is the estimated worth of a business or an idea. It is based on various factors, such as market size, revenue, growth potential, competitive advantage, and risk

2. Cash Flow: It is the amount of money that flows in and out of a business over a period of time. It is calculated by subtracting cash expenses from cash revenues

3. Equity: It is the ownership stake or share of a business or an idea. It is usually expressed as a percentage or a number of shares

4. Margin: It is the difference between the selling price and the cost of a product or service. It is usually expressed as a percentage or a ratio

5. EBITDA: It stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure of a business’s operating performance, excluding non-cash and non-operating expenses

6. Gross & Net Profit:
- Gross profit is the difference between the revenue and the cost of goods sold (COGS) of a business. It shows how much money a business makes from selling its products or services before deducting other expenses

- Net profit is the difference between the gross profit and the operating expenses, interest, taxes, and other costs of a business. It shows how much money a business makes after paying all its expenses

7. Return On Investment (ROI): It is the ratio of the net profit to the initial investment of a business or an idea. It shows how much money a business or an idea earns for every rupee invested

Recently, The White Paper and The Black Paper in the news

What are these Papers? In what way can UPSC ask questions about this?

Let's Explore from #UPSC Prelims - 2024 Perspective

Solve the Practise Question in the last

A thread🧵 The White Papers:

- White Papers are authoritative reports or guides that provide detailed and comprehensive information on a particular topic, issue, or policy

- They may include proposals or recommendations for policy changes, initiatives, or reforms based on thorough analysis and research

- It is often published by governments, think tanks or organizations to inform the public, stakeholders, or decision-makers about their stance, vision, or strategy on a specific matter

- They are also used as persuasive tools to influence opinions or actions

Actress Poonam Pandey passed away due to Cervical Cancer at the age of only 32

But what is Cervical Cancer? what are the causes, symptoms and other facts about it

How does UPSC connect this news with the Static portion for #UPSC Prelims - 2024 Perspective?

A thread 🧵 What is Cervical Cancer?

- Cervical cancer originates in the cells of the cervix, the lower end of the uterus

- Human papillomavirus (HPV), transmitted through sexual contact, is a primary cause of cervical cancer

- Normally, the body's immune system defends against HPV infection, but sometimes the virus persists and leads to cancer

- Globally, cervical cancer ranks as the 4th most common cancer among women

- In India, it is the 2nd most common cancer among women

Dr. Nitya Anand, who discovered the world’s first & only oral contraceptive pill, recently passed away.

It has received very little attention, but from UPSC's standpoint, it is very important

How is this news important for #UPSC - Prelims 2024?

Let's Find out!

A Thread 🧵 About Saheli Contraceptive Pill:

- Saheli is the world’s first and only oral non-steroidal contraceptive pill, discovered by Dr Nitya Anand

- Saheli is a mini pill. It contains only progesterone

- It is taken in a week after an initial intake of twice a week dose for three months

- It contains a non-steroidal preparation called cent chroman

- It is developed by the Central Drug Research Institute (CDRI), Lucknow

India's 75th Republic Day Parade running more than 3+ hrs

I revise you the important facts of the parade for #UPSC Prelims 2024 in 3 Minutes

Also, please tell me in the comments which section of this topic you'd like a full thread on

A Thread 🧵 1. Art & Culture

Anant Sutra: A display of 1,900 sarees from across the country in the Republic Day parade. The installation also included a 150-year-old saree

To understand Economy, one must understand Graphs & Curves

Sharing below most important Economic- Curves for #UPSC

Bookmark & revise them with me 🧵
1. Lorenz Curve:

Definition: The Lorenz Curve is a graphical representation of income or wealth distribution within a population.
Construction:
- Arrange the population from lowest income to highest.
- Calculate cumulative income percentages and cumulative population percentages.
- Plot these percentages on a graph.
Key Insight: It helps analyze income inequality and the concentration of wealth.
Application:
- Used in policymaking to assess the fairness of income distribution.
- Informs tax policies and social programs.

We all know #UPSC Preparation is getting costly 💸

Here are 10 FREE Govt Websites that enhance your Prep & also save you some money 😊

Bookmark this 🧵 to Revisit later🔖 1. NCERT

Download all NCERT Texts as PDFs. These are the basic books that cover the fundamentals of various subjects.

ncert.nic.in/textbook.php

#SanghiKiShiksha | 01: NBFCs

I see lack of single resource explaining NBFCs for #UPSC aspirants 🤔

To make it easy for all, this thread is only resource you need to refer for this topic🧵😁 What are NBFCs? 🏦

- NBFCs are financial institutions that provide banking services without holding a banking license.
- They play a crucial role in the Indian financial system, complementing traditional banks.

Key Features of NBFCs: 🏦

- They cannot accept demand deposits.… twitter.com/i/web/status/1…

I interact with 100s of aspirants weekly and had a shocking realization🤯

It surprised me how lot of #UPSC aspirants struggle with even basic terms after years in the prep😱

Don't be this aspirant!! 🫡

Sharing basic 31 terms for Free🤗🧵

Bookmark🔖 this tweet to revise later 1. Balance of Trade (BoT) The difference in value between a country's exports and imports in its trade with another country.

2. Balance Sheet: A financial statement that provides a snapshot of a business concern's accounts at the end of a year, showing assets, liabilities, and… twitter.com/i/web/status/1…

Did you know?🤔

Words of the Iron Man of India will give you Iron Marks in your #UPSC Mains Answers 🦾

Save these 11 quotes from Sardar Patel to your notes for Mains Answer Writing

Bookmark this thread to revisit later🔖 On Indian Society ( Use in GS-1)

1. "No distinctions of caste and creed should hamper us. All are the sons and daughters of India and love our country to build our destiny on mutual love and help."

2. "Manpower without unity is not a strength unless it is harmonised and united properly, then it becomes a spiritual power."

Your conclusions will fetch you that extra marks to land in dream PDF!

Sharing 10 of conclusions from my notes for your #UPSC Mains Answers

Bookmark this thread to make best use of it! 🔖 On History, Heritage and Culture (Use in GS-1)

1. Our historical narratives provide invaluable insights into the struggles, achievements, and aspirations of different societies. They offer lessons that can inform our present and guide our future.

Pt. Jawahar Lal Nehru was a man of great wisdom!

His are golden words than can help you score higher in your #UPSC Mains Answers.

Find 16 of his quotes (in sync with syllabus) in this thread for your notes🧵

Bookmark to revisit and revise later! 🔖😉 On Indian Heritage and Culture (Use in GS-1)

1. "Culture is the widening of the mind and of the spirit."

2. “India has known the innocence of childhood, the passion and abandon of youth, and the wisdom and restraint of old age that comes with experience.”

Compiling 10 important quotes of Nobel Laurette Dr. Amartya Sen🧵

Use this in your #UPSC Mains answers to make a stronger impact! 😉

Like❤️ this tweet and bookmark to add to your notes🔖 - On Society (Use in GS1)

1. "Understanding the history of the world is crucial for a comprehensive understanding of our own society, as it helps us recognize the interconnectedness of human experiences and the impact of global events on local contexts."

A great intro in #UPSC Mains Answers is a key to extra marks!

Here are 8 Unique intros that will help you see your name in the holy PDF!🧵

Bookmark this tweet to revise and practice these Intros in your answers🔖😉 Indian History and Society (Use in GS1)

1. India's vibrant society is a testament to the coexistence of diverse cultures, languages, religions, and traditions. It is this pluralism that enriches our social fabric and promotes dialogue and understanding

16 quotes of MK Gandhi that made him Mahatma in this thread!🧵

Use these in your #UPSC Mains answers to score higher than your competition.

Bookmark this tweet to revise later🔖 On Heritage and Culture (Use in GS - 1)

1. "Culture of the mind must be subservient to the heart"

2. "A nation's culture resides in the hearts and souls of its people"

Dr. Ambedkar has left goldmine of quotes for #UPSC aspirants and personal growth😁

14 of his quotes compiled in this thread 🧵

Bookmark this tweet and use the quotes in your Answers🔖😉 1. On caste (Use in: GS1 Society and Pol Sc.)

- "Caste is not just a division of labour, it is a division of labourers."

- "The caste system is not a divine institution. It is a human institution, and it can be changed by human effort."

TV shows are a fun way to learn and take a break from the books.📺

Here are 6 TV shows you can watch to strengthen your #UPSC Prep.

Bookmark this thread 🧵 to visit later 👇 1. Pradhanmantri on ABP

- Narrates post-Independence history (1947-2014).
- Keeps PM tenures in mind to share Indian stories.
- Teaches you about social, economic and political events of the country.

Watch here👇🏻

✨ Economics Basics 101:

"Off - Budget borrowings of the state"

- loans obtained by government entities such as PSUs or special purpose vehicles, behalf of government finance its expenditure.

Follow for more 😃
@ayusshsanghi

#UPSC

Some more details🧵 1. CAG's observations:

- These borrowings are not included while computing the debt and fiscal deficit of the state government.