Important Topics for IAS exam

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Important Topics: Indian Polity and Constitution - (Source of Our Constitution)

Indian Polity and Constitution

A Brief Introduction and Historical Background
(
Source of Our Constitution)

Most of the provision of the Indian constitution have been borrowed from the constitution of several other countries as well as from the government of India Act 1935. Though sometimes this borrowing become a matter of criticism but no doubt the framers of our constitution deserve our gratitude for collecting the best features of other constitutions and modifying then in order to avoid the problems faced by them and making them suitable to the Indian Politico-Administrative system.

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Important Topics: Indian Polity - Constitutional Bodies (UPSC)

Constitutional Bodies (Union Public Service Commission)

Article 315 provides there will be one UPSC and State public service commission for every state, however two or more states may agree to have joint PSC and in that case president shall be law provides for appointment of joint PSC.

Appointments

  • Chairman and members of union public service commission are appointed by President.
  • Chairman and members of joint public service commission are appointed by President.
  • Chairman and members of state public service commission are appointed by governor.

As far as possible one half of the members of every public service commission should be those members which have held office for at least 10 years under the government of India or under the government of a state.

Strength of the commission

  • Number of member will declare by president in case of union public service commission.
  • Number of member will declare by governor in case of state public service commission.
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Important Topics: Indian Polity and Constitution - (The Preamble)

Indian Polity and Constitution

(The Preamble)

The Preamble refers to the introduction or preface to the constitution. It contains the essence of the entire constitution. The Constituent Assembly first met on Dec. 9th, 1946 and the preamble to the Indian constitution based on the ‘Objective Resolution’ drafted and moved by Pandit Nehru on Dec. 13th, 1947.

Text of the Preamble

We, The People of India, having solemnly resolved to constitute India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC and to secure to all its citizens:-

  • JUSTICE - Social, Economic and Political;
  • LIBERTY - of thought, expression, belief, faith and worship;
  • EQUALITY - of status and of opportunity; and to promote among them all
  • FRATERNITY - assuring the dignity of the nation;
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Important Topics: Indian Polity and Constitution - (Features of The Constitution)

Indian Polity and Constitution

(Features of The Constitution)

A. Lengthiest Written Constitution of the World

The constitution of India is the lengthiest of all the written constitutions of the world. Initially, it contained a Preamble, 395 Articles, 22 parts & 8 schedules. As of now, it has a Preamble, about 450 Articles, 24 parts and 12 schedules. Some of the factors leading to the elephantine nature of our constitution can be summarised as follows:

i) Since Government of India Act 1935 was adopted as a model for the Indian Constitution and it was a very voluminous document in itself. Thus it naturally made the constitution a lengthy document.

ii) The Indian constitution has elaborated provisional for Judiciary, Public Service Commissions, Election Commission, Controller and Auditor General of India etc. Which also makes it voluminous as compared to other constitutions.

iii) The Indian constitution has provisions regarding the administration of states. This is unlike the U.S. constitution where the state from their constitution separately. Since the federal constitutions is supposed to describe in details the rights and jurisdictions of the centre and the states. Thus making it more bulky in nature.

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Important Topics: General Studies - Economy (National Housing Bank - NHB)

Civil Services Preliminary Examination
NATIONAL HOUSING BANK (NHB)

DEVELOPMENT FINANCE INSTITUTIONS (DFIs)

The DFIs were set up and developed to meet specifically the requirements of industry for long-term finance and equity capital and foreign currency resources. The AIFI's constitute the most important source of funds after the commercial banks. With the progress in the deregulation of the financial sector, the Government has tried to tighten the prudential norms of the AIFI's by a number of measures.

The important measures are:
1. The NP A's limit has been reduced from 365 days to 180 days.
2. Now the AIFI's have to keep Commercial Papers (CPs) in dematerialized form
3. Industrial Finance Corporation of India (IFCI) has been restructured. Government of India subscribed Rs. 400 crore through 20 year convertible bonds to improve the capital adequacy ratio of IFCI. In addition, major shareholders of IFCI, viz., Industrial Development Bank of India (IDBI), SBI and UC agreed to extend assistance of Rs. 200 crore each share up the capital adequacy ratio.
4. The participation of AIFI's in the call money market has to be phased out.

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Important Topics: General Studies - Economy (Monetary System)

Civil Services Preliminary Examination
(MONETARY SYSTEM)

It refers to the whole mechanism pertaining to money and, it is conducted through the ‘Monetary Policy’ formulated and controlled by the Central Bank of the country, i.e. RBI in India.

Reserve Bank of India

Established in 1935 with a capital of 5 crore on the recommendation of Hilton Young Committee and nationalised in 1949. It got the membership of the Bank of Internationalised Settlement (BIS) in 1996. It is managed by a team if 20 members headed by the government. Its headquarter at Mumbai and four local boards situated in the 4 metropolitan cities.

Its main functions can be envisaged as follows:

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Important Topics: General Studies - Economy (Inflation)

Civil Services Preliminary Examination
(INFLATION)

It is one of the most important macroeconomic events that has created a lot of embarrassment not only among the public but also for the union government and RBI. It refers to the persistent rise in the general price level, i.e., in the price of goods and services.

It reduces the purchasing power of money and ultimately hurt the economy in many way:
1. Reduces savings or create a situation like forced saving.
2. A greater portion of income goes to fulfill basic requirements.
3. Interest rates increase.
4. Dampens investment
5. Domestic currency get depreciated and imports become costlier which again pushes up input cost and creating various circle like situation.

Causes of Inflation

Though causes of inflation aremulti-dimensional but broadly it could be expressed in tow forms:
(1) Demand-pull-inflation
(2) Cost-push-Inflation
It means that inflation is caused either due to increase in demand, because when demand will be high princes, will certainly go up and increase in the cost of production, or due to both.

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Important Topics: General Studies - Economy (Foreign Investment)

Civil Services Preliminary Examination
(Foreign Investment)

It refers to the investment made in foreign currency by foreign investors with a view to spread their business and to earn profit. Broadly foreign investment is of two type:
(1). Foreign Direct Investment i.e. FDI
(2). Portfolio Investment

FDI refers to the net inflow of investment to enquire a lasting management interest in an enterprise operating in an economy other than that if investor. It usually involves participation in management, joint ventures, transfer of technology and expertise. It it the best form of foreign investment given its longevity, stability and far reaching objectives. In long term it brings growth, generate employment and fuels economic activities.

FDI has also three categories:
(1) Green Feild FDI : When it is made in new projects.
(2) Brown Field FDI : When it is made in vender develop or under utilised projects.

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Important Topics: General Studies - Economy (Fiscal System)

Civil Services Preliminary Examination
(Fiscal System)

It refers to the system of income and expenditure of the government. To conduct this system fiscal policies are formatted and implemented by the government.

The prime objectives of the fiscal policy under the economy are:
1. To achieve full employment in the economy.
2. To maintain price stability.
3. To enhance income inequality.
4. To enhance economic growth.
5. To induce savings and investment in the economy.

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Important Topics: General Studies - Economy (Capital Market)

Civil Services Preliminary Examination
(Capital Market)

It is the market of long-term i.e., more than one year funding. In other words companies go to Capital Market for raising long-term funds. Today in India it has been a very common phenomenon. Now it is interesting to know that how does it happens?

There are two main sources of raising capital:
1. Development Financial Institutions (DFIs)
2. Securities Market

A number of DFIs have been established on sectorial basis to meet the need of fund like IDBI, IFCI, IDFC & SIDBI etc.

On the othe hand Securities Market is the market of govt. & corporate securities like Bonds & Debentures, and Shares. Govt’s securities market is also known as “Gilt-Edged-Market” because of its low-risk.

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Important Topics: General Studies - Economy (Basic Economy)

Civil Services Preliminary Examination
(Basic Economy)

[N.B.: The study of Basic Economy will help the aspirants to develop better understanding of up going subject matter and further study as well as they shall be able to get many questions based on it. ]

In brief, Economy is the study of economic behaviour and activities of human being aimed at satisfying their needs and wants. Broadly it is divided into two main branches:-

1. Micro Economics Study: It deals with the economic behaviour of the individuals like Consumption, Demand, Supply and Businesses.
2. Macro Economic Study: It refers to the study of economic behaviour of masses as a whole like National Income, Employment, Poverty, Inflation etc.

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