Linguistic Regionalism – Causes, Effects and Way Forward

India is a multilingual country and is considered to be a land of a wide range of diversity. Being a land of diversity, it has benefitted and has to deal with several problems at the same time. Linguistic diversity is one such diversity that gives rise to linguistic regionalism in India. Regionalism is not a new concept to India. From time immemorial there have been issues regarding differences among people based on religion, caste, culture, and so on. These differences act as a unifying as well as a dividing force among people. Linguistic regionalism is one such issue that gave rise to many states in India. Time and again, there have been demands for providing some special status to some language in some parts of the country. Many regional-language speaking groups feel isolated amongst the varied diversity of the country. This gives rise to linguistic regionalism which has become a burning issue nowadays.

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Important Terms in Ancient, Medieval & Modern Indian History for UPSC Prelims

UPSC has recently been giving more focus on historical terms for preliminary examinations. At first, there were only terms from Ancient and Medieval Indian history. But now, UPSC has even included Modern Indian history terms as well. So you must give more focus on this portion as you can get sure-shot marks (around 12 marks as per 2020 paper). 

In this mindmap, you can get all chapter-wise terms so that you can get the idea about a particular historical term prevalent in which period. If this mindmap is useful, give a thumbs-up in the comment section at the bottom and we’ll come up with more value-added notes in the future. All the very best

Trans-fats- Regulation, Challenges & Way Ahead

Recently, the Food Safety and Standards Authority of India (FSSAI) set norms to limit the use of industrial TFA in oils and food items. Importance of a healthy population for the economy has become more evident than ever in light of the current pandemic. Evidences also show that co-morbidities like cardiovascular disease could prove fatal for COVID-19 patients. However a lot of challenge lay ahead in bringing in a healthy food system in a country as large as India.

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Important Economic Terms and Concepts in News for UPSC Prelims

Why this topic is important for Prelims?

Which one of the following statements appropriately describes the “fiscal stimulus”?(2011)

(a.) It is a massive investment by the Government in manufacturing sector to ensure the supply of goods to meet the demand surge caused by rapid economic growth

(b.) It is an intense affirmative action of the Government to boost economic activity in the country

(c.) It is Government’s intensive action on financial institutions to ensure disbursement of loans to agriculture and allied sectors to promote greater food production and contain food inflation

(d.) It is an extreme affirmative action by the Government to pursue its policy of financial inclusion

Solution (b)

Consider the following actions which the Government can take:

  1. Devaluing the domestic currency.
  2. Reduction in the export subsidy.
  3. Adopting suitable policies which attract greater FDI and more funds from FIIs.

Which of the above action/actions can help in reducing the current account deficit?

(a.) 1 and 2

(b.) 2 and 3

(c.) 3 only

(d.) 1 and 3

Solution (a)

A rapid increase in the rate of inflation is sometimes attributed to the “base effect”. What is “base effect”?(2011)

(a.) It is the impact of drastic deficiency in supply due to failure of crops

(b.) It is the impact of the surge in demand due to rapid economic growth

(c.) It is the impact of the price levels of previous year on the calculation of inflation rate

(d.)None of the statements (a), (b) and (c) ‘given above is correct in this context

Solution (c)

Why is the offering of “teaser loans” by commercial banks a cause of economic concern?(2011)

  1. The teaser loans are considered to be an aspect of sub-prime lending and banks may be exposed to the risk of defaulters in future.
  2. In India, the teaser loans are mostly given to inexperienced entrepreneurs to set up manufacturing or export units.

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

Solution (c)

The lowering of Bank Rate by the Reserve Bank of India leads to (2011)

(a.) More liquidity in the market

(b.) Less liquidity in the market

(c.) No change in the liquidity in the market

(d.) Mobilization of more deposits by commercial banks

Solution (a)

Which one of the following is not a feature of “Value Added Tax”? (2011)

(a.) It is a multi-point destination-based system of taxation

(b.) It is a tax levied on value addition at each stage of transaction in the production-distribution chain

(c.) It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer

(d.) It is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation

Solution (c)

A “closed economy” is an economy in which (2011)

(a.) the money supply is fully controlled

(b.) deficit financing takes place

(c.) only exports take place

(d.) neither exports nor imports take place

Solution (d)

Microfinance is the provision of financial services to people of low-income groups. This includes both the consumers and the self-employed. The service/services rendered under micro-finance is/are: (2011)

  1. Credit facilities
  2. Savings facilities
  3. Insurance facilities
  4. Fund Transfer facilities

Select the correct answer using the codes given below the lists:

(a.) 1 only

(b.) 1 and 4 only

(c.) 2 and 3 only

(d.) 1, 2, 3 and 4

Solution (d)

Why is the Government of India disinvesting its equity in the Central Public Sector Enterprises (CPSEs)? (2011)

  1. The Government intends to use the revenue earned-from the disinvestment mainly to pay back the external debt.
  2. The Government no longer intends to retain the management control of the CPSEs.

Which of the statements given above is/are correct?

 (a.) I only

(b.) 2 only

(c.) Both 1 and 2

(d.) Neither 1 nor 2

Solution (d)

Under which of the following circumstances may ‘capital gains’ arise? (2012)

  1. When there is an increase in the sales of a product
  2. When there is a. natural increase in the value of the property owned
  3. When you purchase a painting and there is a growth in its value due to increase in its popularity

Select the correct answer using the codes given below :

(a) 1 only

(b) 2 and 3 only

(c) 2 only

(d) 1, 2 and 3

Solution (b)

The basic aim of Lead Bank Scheme is that: (2012)

(a) big banks should try to open offices in each district

(b) there should be stiff competition among the various nationalized banks

(c) individual banks should adopt particular districts for intensive development

(d) all the banks should make intensive efforts to mobilize deposits

Solution (c)

In India, in the overall Index of Industrial Production, the Indices of Eight Core Industries have a combined weight of 37-90%. Which of the following are among those Eight Core Industries? (2012)

  1. Cement
  2. Fertilizers
  3. Natural gas
  4. Refinery products
  5. Textiles

Select the correct answer using the codes given below :

(a) 1 and 5 only

(b) 2, 3 and 4 only

(c) 1, 2, 3 and 4 only

(d) 1, 2, 3, 4 and 5

Solution (c)

The balance of payments of a country is a systematic record of (2012)

 (a) all import and transactions of a during a given period normally a year

(b) goods exported from a country during a year

(c) economic transaction between the government of one country to another

(d) capital movements from one country to another

Solution (a)

An increase in the Bank Rate generally indicates that the: (2013)

(a) market rate of interest is likely to fall

(b) Central Bank is no longer making loans to commercial banks

(c) Central Bank is following an easy money policy

(d) Central Bank is following a tight money policy

Solution (d)

In India, deficit financing is used for raising resources for (2013)

(a) economic development

(b) redemption of public debt

(c) adjusting the balance of  payments

(d) reducing the foreign debt

Solution (a)

Which of the following constitute Capital Account? (2013)

  1. Foreign Loans
  2. Foreign Direct Investment
  3. Private Remittances
  4. Portfolio Investment

Select the correct answer using the codes given below.

(a) 1, 2 and 3

(b) 1, 2 and 4

(c) 2, 3 and 4

(d) 1, 3 and 4

Solution (b)

In the context of Indian economy,Open Market Operations’ refers to: (2013)

(a) borrowing by scheduled banks from the RBI

(b) lending by commercial banks to industry and trade

(c) purchase and sale of government securities by the RBI

(d) None of the above

Solution (c)

Priority Sector Lending by banks in India constitutes the lending to: (2013)

(a) agriculture

(b) micro and small enterprises

(c) weaker sections

(d) All of the above

Solution (d)

 The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to (2014)

  1. banking operations
  2. communication networking
  3. military strategies
  4. supply and demand of agricultural products

Solution (a)

What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas?(2014)

  1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages.
  2. It enables the beneficiaries in the rural areas to make deposits and withdrawals.

Select the correct answer using the code given below.

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Solution (c)

In the context of Indian economy which of the following is/are the purpose/purposes of ‘Statutory Reserve Requirements’?

  1. To enable the Central Bank to control the amount of advances the banks can create
  2. To make the people’s deposits with banks safe and liquid
  3. To prevent the commercial banks from making excessive profits
  4. To force the banks to have sufficient vault cash to meet their day-to-day requirements

Select the correct answer using the code given below.

  1. 1 only
  2. 1 and 2 only
  3. 2 and 3 only
  4. 1, 2, 3 and 4

Solution (b)

 What does venture capital mean?

  1. A short-term capital provided to industries
  2. A long-term start-up capital provided to new entrepreneurs
  3. Funds provided to industries at times of incurring losses
  4. Funds provided for replacement and renovation of industries

Solution (b)

With reference to Balance of Payments, which of the following constitutes/constitute the Current Account?

  1. Balance of trade
  2. Foreign assets
  3. Balance of invisibles
  4. Special Drawing Right

Select the correct answer using the code given below.

  1. 1 only
  2. 2 and 3
  3. 1 and 3
  4. 1, 2 and 4

Solution (c)

India is regarded as a country with “Demographic Dividend”. This is due to: (2011)

(a.) Its high population in the age group below 15 years

(b.) Its high population in the age group of 15-64 years

(c.) Its high population in the age group above 65 years

(d.) Its high total population

Solution (b)

Which one of the following best describes the term “Merchant Discount Rate” sometimes seen in news? (2018)

(a) The incentive given by a bank to a merchant for accepting payments through debit cards pertaining to that bank.

(b) The amount paid back by banks to their customers when they use debit cards for financial transactions for purchasing goods or services.

(c) The charge to a merchant by a bank for accepting payments from his customers through the bank’s debit cards.

(d) The incentive given by the Government to merchants for promoting digital payments by their customers through Point of Sale (PoS) machines and debit cards.

Answer – c

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Note:

  • These terms are made in the format of one-liners for quick digestion of info. Hyphen or dash symbols are used to separate different points.
  • Source of these terms are – Prelims CA Mindmaps and Mains CA Articles
  • Other compilation of important topic areas such as indexes/reports, schemes, etc. can be covered in  Prelims CA mindmaps itself.
  • Any leftout economic terms can be covered in Economy Static Mindmaps >> Chapters (Inflation, Business cycle, Financial market, banking, security market, external sector, taxation, public finance and investment models).

RBI’s income sources:

  • Open Market Operations (OMOs): the RBI may buy government bonds from the public and earn interests on it from the issuer i.e. government.
  • Interest on loans.
  • Interests on overseas deposits.
  • Forex market operations: the RBI buys and sells foreign currency like the dollar by speculation.
  • Sovereign Seigniorage: this is the income that the central bank earns by printing currency.

Types of RBI’s reserve:

  • Currency and Gold Revaluation Account (CGRA): Value of gold and forex assets owned by RBI on behalf of Indian govt – major portion of RBI’s reserve – it is the revaluation eserve.
  • Continengency Fund (CF): reserve held as a safety measure against any unforeseen risk/crisis – it is the realized equity or contingency risk buffer (CRB).

Economic Capital Framework (ECF):  Realized equity + Revaluation reserve. capital that must be held in reserve by the RBI to sustain its stability in times of an unforeseen crisis or risks.

Liquidity Adjustment Facility (LAF): It is a monetary policy instrument used by the RBI for managing the liquidity needs of the commercial banking system. The LAF works through

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[Disaster Series] Oil Spill – Impact, Challenges, Way Ahead

In May, the thousands of tonnes of diesel spilled into the Ambarnaya River, turning its surface crimson. The Russian government had to declare a state of emergency amid criticism from environmentalists. Such a major accident in an environmentally sensitive zone has sparked serious concerns. In this context, India’s preparedness to deal with oil spills needs to be examined.

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[Disaster Series] Cyclones and its Management in India [Updated]

Updates *
India has to be prepared for many destructing disasters of which Cyclone is a critical challenge. India has a coastline of about 7,516 km (Mainland-5,400 km, Islands- 132 km in Lakshadweep and 1,900 km in the Andaman and Nicobar Islands). Though the North Indian Ocean Basin generates only around 7% of the world’s cyclones, the impact is higher and very devastating, especially when they strike the coasts along the North Bay of Bengal. The recent Amphan cyclone that struck the Bay of Bengal coast is a case in point. *

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[Disaster Series] Industrial/Chemical Disasters in India

The recent gas leak in Visakhapatnam has thrown light on the expanding risk that industrial establishments pose to human settlements and the environment. The incident has occurred during the lockdown- an already vulnerable period for the country. However, this isn’t the first such incident. The NDMA (National Disaster Management Authority) identified more than 130 significant chemical accidents in the recent past and these have claimed 259 deaths and caused serious injuries to over 560 people.

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[Mains Static] Linkages of Organized Crime with Terrorism

Terrorism and Organized crime have long been considered as two separate phenomena. But recently scholars are beginning to grasp the symbiotic relationship that has grown over the years especially after the 9/11 attack on the USA. India continues to be the main target of terrorism and also grapples with the menace of organized crime; it is important for policymakers to study and come up with a solution to the unholy linkage.

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[Mains Static] Role of Media and Social Networking Sites in Creating Internal Security Challenges

The Media and social networking sites are fast becoming a double-edged sword in the internal security regime. The digital and data revolution has exponentially increased the reach of traditional/digital media and social media. The potential of threats emanating from media to internal security is immense. In this article we shall discuss both sides of the two faces of new age media.

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