indian economy table of contents 2013-02-16

Table of Content: Indian Economy (Sriram’s IAS) www.XamTalk.in

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ECONOMICS: AN INTRODUCTION

Definition 1

economic growth 4

measuring growth 5

national income accounting 5

market price and factor cost

relationship between market price and factor cost 6

factor cost

transfer payments

estimating GDP/GNP

three approaches

GDP and GNP 8

GNP AND NNP 9

Base year 10

GDP deflator 11

the need to measure economic growth 12

problems in calculating NI

black money 13

non-monetization

household services

social services

environmental cost

business cycles

economic growth -its benefits and side effects 14

reliability of GDP as a measure of progress

alternatives to GDP 15

HDI 16

HPI

GPI 17

GNH

natural resources accounting green GDP

GREEN GDP 18

India and green accounting

Sarkozy's for an alternative metric

more recent developments 19

moral economy

Laissez-faire

social market 20

market economy and poverty

market and government failure 21


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structural composition of the economy

vital statistics 25

growth and the value of the output 26

domestic product

SOCIO ECONOMIC PLANNING

History of economic planning in India: the beginnings 28

planning goals

history planning 29

FYP 1-12 29-35

PLANNING commission 35

relevance of planning 38

changing role planning commission 39

from planning commission to systems reforms commission

national development council 41

mixed economy

financial resources for the FYP 42

A note on gross budgetary support

achievements of planning

the failures of planning are equally clear 43

indicative planning

rolling plan 44

financial planning

physical planning

Nehru-Mahalanobis model of economic growth 45

Rao-Man Mohan singh Model of growth 46

economic reforms

misgiving about economic reforms 47

second generation reforms 48

recession and depression 49

recession

depression

great recession 2008

HUNGaMA report 2012 50

excerpts from PM's speech on Child Nutrition 52

FISCAL SYSTEM (FISCAL POLICY)

DEFINITIONS 54

definition of deficits 55

revenue deficit


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fiscal deficit 56

budget deficit

monetized deficit

primary deficit

deficit financing

Ways and Means Advances (WMA) 58

Ad-hoc treasury bills and WMA

how much of fiscal deficit is right?

reducing FD 60

global crisis and the FD in India

the fiscal stimulus packages 61

the second stimulus package

the third stimulus package

financing the FD

FRBM Act 2003

Fiscal Consolidation 62

13th finance commission and Fiscal consolidation 63

plan and non-plan expenditure classification and its unsustainability 64

Rangarajan panel on public expenditure 2012

public debt 65

external debt 66

internal debt 67

zero base budgeting (ZBB)

FRINGE benefit tax (FBT) 68

perquisites

fiscal drag

fiscal neutrality 69

crowding out

pump-priming

small savings

public goods, merit goods and demerit goods 70

giffen goods

MONETARY AND CREDIT POLICY

definitions 71

monetary policy

bank rate 72

ready forward contracts (repo)

marginal standing facility (MSF) 73


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liquidity adjustment facility (LAF)

reserve requirements 74

statutory liquidity ratio (SLR)

CRR

open market operations (OMO) of RBI 75

selective credit controls

moral suasion

the growing importance of monetary policy 76

market stabilization bonds scheme (MSS) 77

developing countries and monetary policy

interest rates and their significance 78

deregulation of interest rates

floating and flexible rates of interest 79

inflation targeting

RBI

RBI functions 80

RBI as agent and adviser of the government 81

RBI as national clearing house

RBI act amended 2006 83

autonomy for RBI

money supply 84

monetary and fiscal policy

quantitative easing 85

credit crunch / liquidity crunch / liquidity crisis 86

monetary expansion / easing / stimulus

TAXATION IN INDIA: CONCEPTS AND POLICIES

taxation system in India 88

measures for broadening tax base, strengthening compliance and simplification 90

tax-GDP ratio 90

tax collections 2012-13 91

direct and indirect taxes in India: the changing scenario

cost of direct tax collection 92

income-tax slabs and rates

service tax 93

service tax and Indian constitution 94

goods and services tax (GST) 95

need for GST

GST: questions and answers 96


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how will the the GST work?

what's the rationale for the GST?

what are the proposed GST rates? 97

are there exemptions proposed?

will the states lose out?

what happens next?

what is the revenue impact?

what about the economic impact?

constitutional amendment for GST 98

constitution (115th Amendment) Bill, 2011 (GST bill)

definition of goods and services - article 366

article 249

article 250

GST council - article 279A 99

membership of the GST council

functions of the GST council

GST dispute settlement authority - article 279B

fiscal autonomy issues 100

contentious federal issues on GST

GST: challenges for implementation

challenges to address 101

GST and fiscal federalism

technology advisory group for unique projects (TAGUP)

GST and tax efficiency 102

tax reforms in India

tax expenditure 103

tax havens and G20 104

tax-incidence

tax burden

tax base

tax rate 105

tax shelters

difference between tax avoidance and tax evasion

hidden taxes

proportional, progressive and regressive tax

specific duty

ad-valorem


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compound duty

excise duty 106

customs duty

negative income tax

pigovian tax

octroi

tax buoyancy

tax elasticity

tax stability

Tobin tax or financial transaction tax (FTT) or Robin Hood tax 107

India and FTT

minimum alternative tax (MAT) 108

presumptive tax

laffer curve 109

inverted duty structure

dividend and distribution tax 110

withholding tax

capital gains tax

wealth tax

securities transaction tax (STT)

transfer pricing

rupee is raised and spent like this 111

cess 112

direct tax code (DTC) 113

DTC and General Anti Avoidance Rules (GAAR)

DTC as it is found in union budget 2012 114

changes in tax slabs

age for senior citizens

wealth tax

GST and CST

TAXATION

GAAR 115

FAQ on GAAR

what is GAAR?

How does it operate?

what were the key concerns? 116

how did the finance minister amend it during the budget session 2012?

why was Parthasarathy Shome panel set up?


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advance ruling 117

double taxation avoidance agreements (DTAA)

Limitations-of-Benefits and DTAAs

Vodafone verdict: the gist 118

holding company 119

indirect transfer of Indian asset

treaty shopping and round tripping 120

distinction between tax planning tax avoidance and evasion

INFLATION: CONCEPTS, FACTS AND POLICY

creeping inflation 122

trotting inflation

runaway inflation

measures of inflation

GDP deflator

cost of living index 123

producer price index (PPI)

wholesale price index (WPI)

consumer price index (CPI)

types of inflation based on causes

demand-pull inflation

cost-push inflation 124

structural inflation

speculation

cartelization

hoarding

high inflation hurts ! 124

small amount of inflation can be good 125

to control inflation

indices of inflation

WPI 126

limitations on WPI 127

WPI: new reporting method 128

comparative statement of commodities and price quotations

CPI

difference between WPI and CPI 130

divergence between WPI and CPI

new series of CPI for urban areas 131

new series of CPI for rural areas


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national CPI

weighting diagrams

release of indices 132

revision of indices

which index should one use? 133

services and price index 134

producer price index (PPI)

Core' or 'Underlying Inflation'

inflation targeting 135

ideal level of inflation

collection of statistics Act, 2008

Phillip’s curve 136

deflation

remedy 137

India and deflation

growth-inflation trade off

inflation in India 138

reasons for the current inflation

government steps to control inflation 139

fiscal measures

administrative measures

monetary measures 140

open inflation

repressed inflation 141

inflation tax

BANKING SYSTEM IN INDIA

public sector banks 142

development banks

bank nationalization 143

commercial banks 144

cooperative banks

prakash bakshi committee 146

commercial banks and their weakness by 1991

the reforms to set the above problems right were

Narasimham committee 147

Non-Performing Assets (NPA)

SARFAESI Act 2002 149

asset reconstruction company

prudential norms


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Basel norms 150

Basel III 151

credit risk

market risk

operational risk 152

capital - tier 1 and tier 2

Basel III Norms: RBI guidelines 153

bank for international settlements (BIS)

shadow banks

universal banking in India 154

financial inclusion 155

bank consolidation 156

financial stability

RBI and financial stability 157

traditional role

post-Lehman

banking stability index 158

toxicity index etc. : RBI

prime lending rate (PLR) 159

basis point

weak bank-Narasimham committee-II

narrow banking

bank run

subordinated debt

core banking

world bank recapitalization 160

bank stress tests

financial sector reforms

how Indian banks survived the global crisis? 162

financial inclusion

important additional data for financial inclusion 163

RBI as a regulator

basics of base rate

what is base rate?

how is the base rate calculated?

when did the base rate come into force? 164

how is it different from bank PLR?

how often can a bank change its BR?

what are its benefits?

what are the exceptions?


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securities and insurance laws (amendment) and validation Act, 2010

Swabhimaan 2011

priority sector: Nair committee recommendations 167

RBI acted on these recommendations

savings bank rate deregulation 168

PUBLIC SECTOR: EVOLUTION, REFORMS AND PERFORMANCE

the objectives of the PSUs 170

Public sector and economic reforms 171

PSEs 2012 172

performance of CPSEs 173

disinvestment and privatization 174

definitions

advantages of disinvestment / privatization 175

criticism of divestment 176

divestment policy

valuation of shares 177

government policy on disinvestment / privatization

strategic and Non-strategic classification

disinvestment 2012 178

buyback and cross holdings

cross holdings 179

exchange traded fund (ETF)

board for reconstruction of PSE (BRPSE)

navaratna and miniratna companies 180

navaratnas

miniratna companies 182

category I Miniratna

category II Miniratna

maharatna 184

ad-hoc group of experts (AGE) report 185

memorandum of understanding (MOU)

some recent initiatives in restructuring the PSEs 186

autonomy for PSEs

professionalization of PSU Boards 187

problems and prospects of PSU restructuring

tenure of the CEO and board of directors


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multiple audit

role of administrative ministry

noncommercial activities

national investment fund (NIF) 188

objectives of NIF

Use of disinvestment proceeds

purchase preference policy 189

disinvestment trough public offers - highlights 191

MONEY MARKET AND CAPITAL MARKET IN INDIA: INSTRUMENTS AND DETAILS (PART 1)

call money 192

treasury bills

interbank term money 193

certificates of deposit

inter corporate deposits market

commercial paper

ready forward contracts (repo) 194

commercial bills

discount and finance house of India (DFHI)

MONEY MARKET AND CAPITAL MARKET IN INDIA: INSTRUMENTS AND DETAILS (PART 2)

capital market 195

G-secs (Gilt edged securities)

dated securities 196

floating rate bonds

capital indexed bonds

capital index bond (CIB), 2002

2012 reforms in G-secs

DFIs or development banks

merchant banks / investment banks 197

mutual funds

SEBI reforms august, 2012

Hedge fund

venture capital 198

angel investors

qualified institutional placement (QIP) 198

Non -banking financial company (NBFC)

NBFC factor 199

external commercial borrowings (ECB)

euro issues 201


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private equity

stock market

credit default swap (CDS)

what is CDS?

what is the economic benefit of CDS? 202

what are the key concerns?

what role did CDS play in the financial meltdown?

how is RBI safeguarding against CDS ills?

corporate debt

FCCBs 203

FIIs investment in debt

take-out financing

infrastructure debt funds (IDFs) 204

STOCK MARKET IN INDIA

importance of stock exchanges 205

stock exchanges in India

Bombay stock exchanges (BSE) 206

Sensex 207

demutualization

national stock exchange of India (NSE)

the inter-connected stock exchange of India limited (ISE) 208

indonext

over the counter exchange of India (OTCEI)

global rankings of BSE and NSE

BSE, SME and NSE emerge 209

SEBI

SEBI and the reforms 210

SEBI makes new rules, 2009

capital market reforms

primary market 211

secondary market

types of shares

derivatives 212

futures

buyback of shares

rolling settlement

commodity exchanges 213

agricultural products

precious metals 214


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base metals

ferrous metals 215

energy products

polymers

carbon credits

Forward market commission (FMC)

mutual funds 216

open-ended funds

closed-ended funds

FIIs

QFIs 217

financial action task force (FATF)

portfolio investment scheme (PIS)

international organization of securities commissions (IOSCO) 218

FATF 219

global depository receipts (GDR)

American depository receipts (ADR) 220

participatory notes

Rajiv Gandhi equity savings scheme

hedge fund 221

clearing house

equity

share

bond

debenture

bear

bull 222

bear market

gilt

blue chip

midcap company

small investor

primary dealers 223

market depth

negotiated dealing system (NDS)

short selling

market capitalization

price / earnings (P/E) ratio

earnings per share (EPS) 224

insider trading


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depository

national securities depository limited (NSDL)

national association of securities dealers automated quotation system (NASDAQ)

Dow Jones index 225

important indices of the world

ethical investing 226

Ponzi scheme or pyramid scheme

decoupling

clause 49

Indian depository receipts (IDR)

shariah index 227

BRICS cooperation among exchanges 228

power exchanges

SGX Nifty

Dollex

INDIAN ECONOMY: BALANCE OF PAYMENTS

BOP in 1990 229

surge in capital flows 230

BOP and invisibles 231

remittances

convertibility of rupee 232

capital account convertibility (CAC) 233

benefits of fuller convertibility presented differently are: 234

tarapore committee on CAC 235

CAC relaxations so far

tarapore II on fuller rupee convertibility, 2006

current account deficit (CAD) 236

CAD 2012

FAQ on CAD from ET 237

what is CAD?

what is India’s current account situation?

what are the implications of a large current account GAP?

what should the government do?

currency mechanism 238

why did the rupee slide to historic lows below 57? 239

is the rupee likely to recover?


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what is the real value of the rupee?

how much reserves are enough / necessary? 240

why accumulate forex?

sterilization mechanism and MSBs 241

rupee devaluation / depreciation and export performance and promotion

the J curve

2012 depreciation 242

rupee appreciation: why and what it does?

forex reserves and infrastructure 243

sovereign wealth fund

BRETTON WOODS INSTITUTIONS AND OTHERS

international monetary fund (IMF) 244

IMF objectives 245

what the IMF does?

special drawing rights (SDRs) 246

IMF borrowing arrangements

general arrangements to borrow (GAB)

new arrangements to borrow (NAB)

India and NAB 247

how the IMF lends?

IMF facilities 248

IMF and the global financial crisis

IMF and BRICS 250

IMF and conditionalities

reforming the IMF 251

India and IMF

the importance of IMF in the post-Lehman period 252

quotas, GAB and NAB 253

the G20 and the IMF

SDRs as an alternative to the US dollar as global reserve currency 254

WORLD BANK GROUP AND WORLD BANK

the international bank for reconstruction and development (IBRD) 256

the International development Association (IDA) 257

IDA 16

IFC (international finance corporation)

multilateral investment guarantee agency (MIGA) 258


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international center for settlement of investment disputes (ICSID) 259

India and the world bank

India’s enhanced voice 260

IMF vs. WB 261

financial action task force (FATF) 262

Asian clearing union

India-iron oil payments

ADB 263

financial stability board 264

G20

mandate

origins

membership

achievements 265

chair 266

meetings and activities

interaction with other international organizations

how does the G20 differ from the G7?

miscellany 267

summits

organization for economic cooperation and development (OECD) 268

European central bank (ECB)

international financial stability architecture for the 21st century

Bretton woods 2.0

WTO AND GATT

GATT and WTO 271

structure of WTO

dispute settlement 272

WTO members and observers 273

chronology

WTO agreements

agreement on agriculture (AoA) 274

domestic support

export subsidies

market access 275

TRIPS


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agreement on Trade-related aspects of intellectual property rights (TRIPS)

TRIPS and patents 276

product and process patents

geographical indications

registration details of GI application 278

patents amendment act 280

WTO package 281

anti-counterfeiting trade agreement (ACTA)

European union (EU) parliament rejects ACTA 282

public health concerns: TRIPS agreements and safeguards 283

Tamiflu 284

glivec 285

naxaver

sui generis system 287

GATS (general agreement on trade in services)

trade negotiations 289

Doha round

developing countries' demands and concerns

developed countries demands 290

most favored nation (MFN)

what are the benefits?

regional trading arrangement (RTA) and multilateralism under WTO 291

regionalism and multilateralism 292

some regional trading arrangements

groups (G4 etc.) 293

WTO words 294

G33 and special products (SP) and special safeguard mechanism (SSM) 296

WTO and safeguard duty

SP and SSM 297

SP

SSM 298

Safeguard duty

safeguard duty in India 299

special and differential treatment

what has India gained from the WTO? 300


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WTO: boon or bane?

Technical barriers to trade (TBT) and Sanitary and Phytosanitary measures (SPS) 301

Singapore issues

Non-agricultural market access (NAMA) 302

Swiss formula and India 303

H1B visa fee hike and WTO-Compatibility

banana wars 304

US cotton subsidies 305

protectionism

arguments against protectionism 307

current world trends

Bhagvati and protectionism 308

the tragedy of the commons

beggar thy neighbor

trade facilitation 309

fiscal

safety and security

environment and health

consumer protection

trade policy

eighth ministerial 310

WORLD INTELLECTUAL PROPERTY ORGANIZATION (WIPO)

FOREIGN TRADE

India’s Exim policy: its evolution and content 312

exports 2010-11 313

India’s merchandise trade performance during 2011-12 highlights 314

exports 315

imports 316

trade deficit 317

global trade

south-south trade

six fold increase in services sector exports 318

export of engineering goods

small and medium enterprise and engineering exports 320

quantitative restrictions (QR) 321

non-tariff barriers


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salient points of strategy for doubling exports in next three years (2011-12 to 2013-14)

product strategy

market strategy

non-traditional export markets 323

focus market scheme (FMS)

market linked focus product scheme (MLFPS)

board of trade (BOT)

interstate trade council 324

export promotion councils

commodity boards

agricultural and processed food products export development authority

marine products export development authority

GS1 - (Global Standards) India 325

agri-export zones (AEZ)

100% Export oriented units (EOU) 328

regional trade arrangements and trade (RTA)

India’s trade reforms since 1991 329

exports and employment

market access initiative (MAI) 330

marketing development assistance (MDA) 331

towns of export excellence (TEE)

export and trading houses

vishesh krishi and gram udyog yojana (VKGUY) 332

focus market scheme (FMS) 332

hitech products export promotion scheme (HPEPS)

states and export efforts 333

export-import bank

annual trade policy review 2010

commerce minister Shri Anand Sharma's speech with details of the annual supplement (June 2012) to five year FTP (2009-14) 334

E-biz 339

forfaiting

mercusor

deemed exports


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free import of inputs 340

advance license

duty entitlement pass book (DEPB)

Replenishment license

duty free replenishment certificate scheme (DFRC)

deemed exports

free on board (FOB)

net foreign exchange (NFE)

ad valorem 341

compound duty

countervailing duty

exchange earner foreign currency account scheme (EEFC)

transaction costs

barriers to entry

Indian trade classification (harmonized system) - ITC (HS)

anti-dumping duty

safeguard duty 342

target plus

export credit guarantee corporation of India ltd. (ECGC)

electronic commerce (EC) / electronic data interchange (EDI) for trade 343

EDI

Trade finance 345

trade finance in India

EEFCA 346

AGRICULTURE

food deficit to food surplus 348

accounting for success in agriculture

food grain production 2012

crisis and challenge in agriculture 349

causes for low agricultural growth since mid-1990s

remedies 350

11th plan and agriculture: some areas

accelerating agricultural growth

concerns

11th plan strategy 351

12th FYP and agriculture


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capital formation in Indian agriculture 353

bharat nirman 354

stainable agriculture: water management and irrigation 355

warabandi 356

soil health

soil reclamation

extension services 357

agri-clinic and agri business center 358

small farmers' agribusiness consortium (SFAC)

rainfed agriculture 359

national rainfed area authority

drought 360

contingency plan 2012 362

a new calamity

National disaster response fund (NDRF) and State disaster response fund (SDRF) 363

UN and drought

World meteorological organization (WMO)

rural credit 364

NABARD

rural credit institutions 365

co-operative credit structure

regional rural banks (RRB)

local area banks 366

priority sector

NBC denotes net bank credit 367

RIDF

NABARD and SHGs

microfinance 368

types of micro credit providers in India

malegam committee 369

national vegetable initiative 370

national mission on food processing (NMFP) 371

kisan credit cards (KCC)

agricultural price policy in India

commission for agricultural costs and prices (CACP) 372

national food security mission

food subsidy 373


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rashtriya krishi vikas yojana (RKVY)

second green revolution 374

horticulture 376

national horticulture mission (NHM) 377

vishesh krishi upaj yojana

AGRINDIA

livestock

livestock biodiversity 379

role of livestock 380

animal production practices

milk

national dairy plan 381

modified crop insurance 382

marketing reforms 384

nutrient based fertilizer subsidy 385

pulses development

extending green revolution to eastern India 387

India celebrates declaration of global freedom from rinderpest 389

productivity of foodgrains UP from 1756 kg to 1921 kg per hectare in last 4 years

agrinet scheme to provide IT enabled services to farmers

kisan call center 390

precision farming or precision agriculture

precision farming or precision agriculture

using GIS to maximize profits

indian economy table of contents 2013-02-16

Documents

fiscal deficit

relevance of planning

failures of planning

market economy

economic reforms

fiscal consolidation

perquisites fiscal

fiscal neutrality