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Sunday, October 28, 2012
Windows 8 special
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Walk The Talk with 1962 war veterans (Part 2)
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Information vs privacy: Is RTI being diluted?
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Lewis Hamilton's helmet inspires him, in Hindi!
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Tuesday, October 16, 2012
Khurshid vs Kejriwal:
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Meet Mr and Mrs Saif Ali Khan
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War of words over allegations against Khurshid's trust
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Friday, October 12, 2012
India's First Five-Year Plan (1951–1956)
First Five-Year Plan (1951–1956)
On December 8, 1951 The first Indian Prime Minister, Jawaharlal Nehru presented the first five-year plan in the Parliament of India .This plan was based on the Harrod-Domar model. The plan addressed, mainly, the agrarian sector, including investments in dams and irrigation. The agricultural sector was hit hardest by the partition of India and needed urgent attention. The total planned budget of 2069 crore was allocated to seven broad areas: irrigation and energy (27.2 percent), agriculture and community development (17.4 percent), transport and communications (24 percent), industry (8.4 percent), social services (16.64 percent), land rehabilitation (4.1 percent), and for other sectors and services (2.5 percent). The most important feature of this phase was active role of state in all economic sectors. Such a role was justified at that time because immediately after independence, India was facing basic problems—deficiency of capital and low capacity to save.
The target growth rate was 2.1% annual gross domestic product (GDP) growth; the achieved growth rate was 3.6% The net domestic product went up by 15%. The monsoon was good and there were relatively high crop yields, boosting exchange reserves and the per capita income, which increased by 8%. National income increased more than the per capita income due to rapid population growth. Many irrigation projects were initiated during this period, including the Bhakra Dam and Hirakud Dam. The World Health Organization, with the Indian government, addressed children's health and reduced infant mortality, indirectly contributing to population growth.
At the end of the plan period in 1956, five Indian Institutes of Technology (IITs) were started as major technical institutions. The University Grant Commission was set up to take care of funding and take measures to strengthen the higher education in the country. Contracts were signed to start five steel plants, which came into existence in the middle of the second five-year plan. The plan was successful.
Target Growth: 2.1% Actual Growth: 3.6%
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CRR RATE ? REPO RATE REVERSE REPO RATE
The Cash Reserve Ratio (CRR) is the amount of money commercial banks HAVE to keep within its AVAILABILITY at the central bank (the RBI in INDIA). The CRR rate is simply how much percent of total deposits a bank has to keep in reserves and not lend out. Some central banks use this ratio to fight inflation, because when they increase it, it means less available money for banks to lend, therefore less money supply, therefore less inflation (not so effective way in fact).
The Repo (repurchase) rate is the discount rate at which the central bank (RBI) purchase securities from commercial banks. (to put it simply, it is the rate at which the central bank borrows from the banks) Here again, the central bank can fight inflation by increasing the repo rate because as the repo rate increase, commercial banks are more motivated to buy government securities and lend to the central bank (more profitable) which means less money available to lend in the economy.
The reverse repo rate (bank rate) as it's name indicate, is the rate at which banks borrow from the central bank. If the central bank wants to fight inflation, they would increase this rate too, so tha banks are discouraged from borrowing from the central bank (more expensive) which means less funds available to lend, therefore lower inflation.
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The Repo (repurchase) rate is the discount rate at which the central bank (RBI) purchase securities from commercial banks. (to put it simply, it is the rate at which the central bank borrows from the banks) Here again, the central bank can fight inflation by increasing the repo rate because as the repo rate increase, commercial banks are more motivated to buy government securities and lend to the central bank (more profitable) which means less money available to lend in the economy.
The reverse repo rate (bank rate) as it's name indicate, is the rate at which banks borrow from the central bank. If the central bank wants to fight inflation, they would increase this rate too, so tha banks are discouraged from borrowing from the central bank (more expensive) which means less funds available to lend, therefore lower inflation.
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Saturday, October 6, 2012
NATIONAL PARKS OF INDIA
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