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Benefits of Cashless Economy: Is India Ready for a Cashless Economy?

2020-10-02T20:30:23.550Z

On 8th November 2016, India underwent the process of demonetization. The 500 and 1000 notes were declared banned. A new set of notes were then pushed out but after a long while. In the gap between the note ban and the arrival of new notes, one payment method started to shine. E-wallets and cashless transactions were now spreading.

United Payments Interface or UPI was launched. This connected bank accounts to your mobile number and enabled users to have a bank to bank transfers at the tip of their fingers. It was launched in 2016 by the National Payments Corporation of India and is also recognized as a mode of payment by RBI.

What is a Cashless Economy?

You must wonder what a cashless economy is? An economy in which transactions of cash are less and transactions mainly take place on credit cards, debit cards, e-wallets, or any digital payments.

This is a much cheaper method and will also help control excess inflation caused by the overprinting of money for circulation in the economy. It will also help in the rapid development of Digital India which is a program launched by the government of India in 2015.

Is India Ready for a Cashless Economy?

A very big question lies in front of everyone. Is India ready for a cashless economy? The answer is relative to most people. Some believe that India is ready for it and some believe that India is not.

The Government of India has a strong belief in the fact that India can transform itself. Since most people are connected with a smartphone in India, it is very usable and will help India move towards a paperless society. The government also announced a few incentives for cashless transactions to promote it.

Merits and Demerits of Cashless Economy

A paperless economy has its own merits and demerits.

The benefits of a cashless economy are

Reduction in cost: the cost of printing and circulating money into the economy is cut down
More transparency: since most e-wallets and digital payments require KYC, and this helps the RBI to track transactions.
Convenience: e-transactions are convenient for both banks and customers. This kind of transactions can take place in any corner of the world, 24*7*365
Offers: Lots of e-wallets give exciting offers like cash backs on transactions. Cashback is an offer where people get back a certain amount on their transactions
Rapid development: Due to the high demand for digital needs, India has seen rapid development in many parts of the country.
Control on black money: digital transactions have proven to cut down the black money problem in India due to higher transparency in transactions

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IAS Preparation Strategy for Beginners: Boost your UPSC Preparation Today

2020-10-02T20:28:59.026Z

If your goal in life is to become an IAS officer then this is the right blog for you. This is a short guide on how to boost your preparations for the UPSC exam as a beginner.

Most beginners go wrong in this step. Most people believe that they have to get all kinds of materials and books to score well and miss out on the smaller steps.

It is recommended for you to first target your dates. This will help you create a timeline of events. A timetable is very important for you, this will create a sense of discipline within you and should motivate you to practice daily.

Preparing to Attack

Once you have a time table, your next step will be to start preparing. Takedown the UPSC syllabus and understand it well. Break down the syllabus into various segments depending on your strengths and weaknesses.

You will be able to get better results if you work harder on the weaknesses of the UPSC syllabus. An IAS officer is required to have a good amount of knowledge in every field. So, be ready to prepare for every major subject.

Focusing on Current Affairs

Focusing on current affairs is a very important aspect of preparing to become an IAS officer and for your UPSC exams.

As seen from previous years’ papers, current affairs are given around 25% weightage in the UPSC exam. Reading well-established newspapers and well-reputed blogs will be the key to score well in this area.

Current affairs upon thorough and daily practice will help you get better results for your UPSC exam.

UPSC Books and Materials

A lot of times, people tend to give a lot of importance to the number of UPSC books and materials. This is a very bad decision as books and materials do not substitute the value of hard work.

As a beginner, it is important to go through good quality materials as it will help you get a better understanding of your subjects. It is very important to have NCERT books since most questions are based on topics from NCERT. NCERT books cover subjects from the basic level and are also published by the government.

You can find great blogs online to help you understand concepts and keep you up with current affairs.

Practice, Practice, and More Practice

Your exam results will only depend on your hard work. No matter what you do, only practice will help you. As they say, practice makes you perfect. Keep working hard and smart.

Keep practicing and spend time turning your weaknesses into your strengths. Give yourself enough time to practice on a daily basis. Write a lot of practice tests as this will help you get used to the questioning pattern in UPSC exams.

Previous year papers are very important as they will help you practice and will clear any doubts in your exam pattern.

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What is the Minimum Age to be the Governor of a State? Things You Should Know for UPSC Exam

2020-10-02T20:26:54.352Z

The Governor is known as the head of the state just like the President who acts as the head of the whole republic. The Governor is the nominal head and is the one whose signature makes any bills into laws. All executive actions are taken in his name. However, in reality, a Governor’s office is just an honorable role and holds no actual power at all. He merely gives consent to the decisions taken by the Chief Minister who is the Executive Head of the state.

This article seeks to help you understand and learn the functions and powers of the Governor for your UPSC exams. This chapter is very important as it is part of both your IAS Prelims and Mains subject syllabus.

Powers of the Governor of the State in India

The Governor is part of the State Legislature and has the right to send and receive messages, summoning, postponing, and dissolving the legislature just like the President of India can for the Central Legislature.
The Governor appoints the new Legislature and opens the first session of every new year. He also stipulates guidelines and new policies to be followed by the ruling party.
It is the duty of the Governor to put down the annual financial report and has the right to demand grants and funds for money bills.
The Governor is part of the State Finance Commission and can take funds out of the Contingency Fund of the State in case of unforeseen circumstances.
All bills passed by the Legislative can only become law after it gets assent from the Governor.
The Governor has the right to promulgate an ordinance in case the Assembly is not in session but a law has to be brought into effect immediately. However, it will only be effective for six weeks after which a meeting has to brought in and the Legislative Assembly decides if the law can be effective further.
The Governor can grant pardons and remissions for punishments. He can suspend or remit punishments of any prisoner he wants to.

Eligibility Conditions for Becoming a Governor

According to the Constitution of India, the qualifications to be met by a person to be appointed as a Governor of the State are:

He or she must be a citizen of India.
He or she must have completed 35 years of age minimum.
He or she must not hold any other office of profit.
He or she must not be a member of the Legislature of the Union or of any other state.

Who Appoints the Governor of State?

The selection procedure of the appointment of the Governor is not done by voting elections of any kind, be it direct or indirect. The Governor of the State is directly appointed into office by the President of India for a term of 5 years. He or she must meet all eligibility criteria enumerated in the Constitution of India to be appointed by the President.

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Public Accounts Committee Members: Who has been appointed as the Chairperson of the Public Accounts Committee?

2020-10-02T20:25:12.367Z

The committee was first mentioned in the Montagu and Chelmsford Reforms or the Government of India Act 1919 but it came into existence only in 1921. It examines the annual audit reports and is responsible for mainly taking care of public expenditure to check for any kind of fraud, mal-functioning, waste, or extravagance in the funds utilized in the government projects that are being undertaken. Not only is the committee keeping a record of finance and accounts but scrutinizing the whole thing on the basis of economy, wisdom, and propriety.

These auditing committees are an important but often overlooked part of the Indian Polity. They are responsible for writing down and keeping track of minuscule changes taking place in the country and the small day to day administrative work being undertaken by the government.

Who are the Members of the Public Accounts Committee (PAC)?

The committee comprises 22 members. 15 from the Lok Sabha (or the Lower House) and 7 from the Rajya Sabha (or the Upper House).
He or She cannot be a minister in the Cabinet.
The members are elected from the members of the Parliament by conducting an election by Proportional Representation by means of the Single Transferable Voting System (PRSTV).
Every member elected by the Parliament holds office for a year after which fresh elections take place and a new set of committee members are elected.

Who is the Chairperson of the Public Accounts Committee?

The Speaker of the Lok Sabha elects the Chairperson of the Public Accounts Committee from amongst its members. Though initially, the Chairperson used to be appointed from the ruling party it was later decided to appoint the chairperson from the opposition party invariably. The current Chairperson of the Public Accounts Committee is Adhir Ranjan Chowdhury.

Functions of the Public Accounts Committee

Examines the financial accounts and the appropriation accounts of the Central Government which is made by the Lok Sabha.
Scrutinizes audit reports made by the Comptroller and Auditor General (CAG) of India to make sure it is justified and no fraud or mistakes have been made. It also ensures that the money used is legally available and also conforms to the cause it’s needed for, to avoid extravagance and wastage.
Examines accounts of State Corporations, Trading Concerns, and Manufacturing Products.
Examines the accounts of Autonomous and Semi-Autonomous Bodies.
It keeps check of any money spent on any service availed or utilized in the year and makes a thorough report of it.
The CAG is responsible for assisting the PAC throughout the year through all its activities.

The Limitations of the Public Accounts Committee

It, for the most part, can’t take part in policy-making decisions. It is only responsible for keeping a record of incidents, mainly finances that have already been incurred.
It can keep account of the money spent but can’t take precautions to save money to be invested in the future or stop government expenditures that it may deem useless.
It cannot intervene with daily administrative matters.
The advice given by the committee is not binding upon the ruling party and can be ignored by the ministers if they think it important to.
It does not have the right to stop any departments from making any kind of expenditures.
As it is an executive body, so it cannot issue any orders. Only the Parliament decides what to do with the committee’s investigations and reports.

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What is the Term of the Lok Sabha? Lok Sabha Elections, Composition, and Members

2020-10-02T20:23:26.048Z

The Indian Polity is one of the most important chapters in your IAS UPSC exams as it is a common topic for both your Prelims and your Mains papers, even your Optionals if you choose so. It’s easy to forget small details or confuse it with other houses of the parliament both at the center and the state level.

This article makes it easier to remember by assembling important details of the Lok Sabha by turning it into short notes and cue cards for easy learning and better understanding, even answering questions such as ‘what is the term of the Lok Sabha?’, ‘Who is the chairperson of the Lok Sabha?’, ‘maximum strength of Lok Sabha’, etc.

Lok Sabha or the House of People

The Indian Constitution declares the Indian Parliament to be bicameral in nature, i.e. consisting of two houses- the lower house and the upper house. Lok Sabha is the lower house while Rajya Sabha is the upper house.

The Lok Sabha is directly elected by the citizens of India through adult franchise. It acts as the headquarters of the Indian legislature and executive and is also the main body responsible for making political decisions. The Prime Minister and his Cabinet of Ministers are part of the Lok Sabha.

Composition of Lok Sabha

Maximum Strength – 552

530 State representatives

20 representatives of Union Territories

2 nominated Anglo-Indians by the President.

Current Strength – 545

530 State representatives

13 representatives of Union Territories

2 are nominated by the President from Anglo-Indian Community

Who is the Chairperson of the Lok Sabha?

A Speaker of Lok Sabha is elected after the ruling party forms the government and this speaker is known as the chairman of the house. The Speaker is responsible for presiding over the House’s meetings and sees to it that order is maintained in the House and the dignity and decorum of the House is followed. The House meetings cannot proceed in his absence.

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How Many Aircraft Carriers Are There In India? New Warship Projects for the Navy

2020-10-02T20:18:57.489Z

At the advent of the Navy Chief Admiral Karambir Singh consistently fighting a strong case for a second indigenous aircraft carrier for India, these warships have gathered increasing attention towards themselves. These warships serve as the helm of the combat battle strategy and serve in the frontlines of India, protecting us from the international waters.

INS Viraat was the world’s longest-serving Aircraft Carrier Warship that was in service in India. India’s longest-serving warship sailed the waters for almost over 30 years before it was decommissioned in 2017. The current aircraft carrier in India in service is INS Vikramaditya.

Total Aircraft Carriers In India

Aircraft carriers are warships that serve as a moving airbase on the sea. They carry within them fleets of fighter planes, striker crafts, helicopters, and numerous other aircraft and are equipped with a flight runway to facilitate the launching and landing of aircraft.

These warships serve as one of the most important and often the centerpiece of the naval fleets due to its tactical advantage. Since these warships can carry so many aircraft directly into the international waters with no prior flight permissions as it easily bypasses the sovereignty of other countries.

There have been 3 aircraft carriers in the Indian Navy, though only one is still active right now. 2 carriers are in the construction process.

First Aircraft Carrier in India – INS Vikrant (1957)

The first-ever aircraft carrier warship of India and was decommissioned in 1997.
INS Vikrant aircraft carrier was bought from the UK, it was first named HMS Hercules and changed names after its sale to India.
It weighed up to 19-20 tonnes and could carry up to 23 aircraft.
It served as the main blockage for the country against the Pakistan Naval Force in the Indo-Pak War of 1971.

INS Viraat

Bought from the UK, this carrier served the country for 30 years before it was officially decommissioned in 2017.
It was the helm of the Indian Navy as it’s crowned centerpiece before INS Vikramaditya took up the role in 2013.
It weighed around 29,000 tonnes and carried up to 26 aircraft.
Repairing failing parts and renovation of this longest-serving aircraft carrier needed huge amounts of funds which the Defense Minister Of India could not give his clearance to. That was why INS Viraat was decommissioned after INS Vikramaditya was ready to take over.

INS Vikramaditya

This is the current serving aircraft carrier of India.
It weighed up to 45,000 tonnes and can carry up to 36 aircraft.
It was made by USSR and Russia and was named Admiral Groshkov before changing its name after its sale to India.
It serves as the current flagship of the Indian Naval Army.
It operates on the STOBAR (Short Take-Off But Arrested Recovery) system of launch and recovery of the aircraft.

INS Vikrant (2013)

Named after its predecessor and the first airbase reinforced warship of India. It is also known as Indigenous Aircraft Carrier 1 (IAC-1).
It is informally called INS Vikrant 2.
It is currently under construction and conducting trials by Cochin Shipyard Limited in Kochi, Kerala.
It is the first aircraft carrier warship to be made in India.
It weighed up to 40,000 tonnes and can carry up to 40 aircraft.
It is expected to be commissioned in 2023.

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Big Breaking: Will UPSC Prelims 2020 be Postponed Again?

2020-10-02T20:17:32.467Z

The UPSC prelims which were earlier scheduled for 31st May 2020 got postponed to 4th October due to the global COVID-19 pandemic. The Union Public Service Commission recently released admit cards for the preliminary exam.

Will UPSC prelims 2020 be postponed again? It is merely two weeks left now for the preliminary exam to take place but thousands of students are vouching for postponing the examination.

Due to the massive outbreak of the coronavirus outbreak, more than 20,000 aspirants have signed the petition asking for a postponement of the UPSC IAS prelims exam. Many of the students have held an inadequate transport facility to be one of the major reasons behind seeking this postponement.

Will UPSC Prelims 2020 be Delayed?

The Supreme Court, on 24th September 2020 agreed on hearing a plea asking postponement of the UPSC 2020 prelims. The petition was filed through Advocate Alakh Alok Srivastava. Mr Srivastava prays for the postponement of the civil services preliminary exam by two to three months and also requests the court to quash the UPSC released revised calendar where the 2020 prelims are scheduled to be held on 4th October all over the nation.

It is stated by the petitioners that the decision of the Union Public Service Commission to conduct the preliminary exam on the pre-scheduled date violates the rights of the petitioners to practice their chosen profession/occupation of serving the public under Article 19(1)(g).

“About 6 lakh aspirants (including the Petitioners herein) are likely to appear in the captioned Civil Services (Preliminary) Examination, which is a 7 Hours Offline Examinations, in very few centres at 72 Cities across India. Meanwhile, COVID-19 cases are increasing in India at an alarming rate of more than 80 thousand cases per day. The deadly pandemic COVID-19 has already affected more than 40 Lakh people in India and the situation is worsening by every passing day.” – Plea filed in Supreme Court

News regarding UPSC CSE Date Postponed

On 24th September 2020 the Supreme Court, on a plea to postpone the UPSC prelims 2020, issued a notice to the Union Public Service Commission and the Centre. Justice A.M. Khanwilkar and Justice Sanjiv Khanna from Court No. 5 sent the notice.

Aspirants who want the UPSC CSE date to be postponed are seeing this notice as a ray of hope and are waiting eagerly for 28th September as on that date the matter will be heard.

Hashtag ‘Postpone_Karo_UPSC’ is trending all over the internet by aspirants demanding for UPSC prelims to get postponed once again. Many are using the various social media platforms to raise their voice and show protest against the upcoming UPSC CSE prelims date, while some of the aspirants have also gone a step ahead by starting hunger strikes.

Priya Kumari, an engineering graduate aspirant from Bihar is topping the UPSC prelims postponed news as she has chosen the way of a hunger strike to show her protest.

Will UPSC Prelims 2020 be Postponed Again?

In the past few months, many similar please seeking the postponement of exams like JEE Main, National Eligibility-cum-Entrance Test (UG), CBSE Board exam, chartered accountants, college final year exams etc came in front of the Supreme Court. In most of the cases, the Supreme Court has advised taking safety measures for minimising the spread of Coronavirus among the candidates and ordered them to carry on with the examinations.

Even though thousands of aspirants are hoping to hear the UPSC prelims postponed news from the decision-makers, the decision of the court regarding the previously appealed exams is also scaring them.

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Who Controls Public Expenditure? Principles and Types of Public Expenditure

2020-10-02T20:15:17.798Z

What is public expenditure? Are you aware of the public expenditure of India? Do you know how it works? Who controls public expenditure in India? What are the principles of public expenditure and how does it affect the economy? What are the types of public expenditure? Get familiar with the functionings, the meaning of public expenditure, and know about one of the most debatable topics of economics here.

What is Public Expenditure?

Public authorities such as the Central government, state government, and local governments set aside a sum of money that is to be spent on the needs of the public of a particular country. These are the collective needs of the public that include facilities like infrastructure, basic healthcare, education, pensions, and security.

Public expenditures are a component of public finance that studies the spending, deficits, and taxation made by the government. Public expenditures are fused with public revenues to raise revenues for public welfare, creating a balance in the use of resources.

Public expenditures are supposed to be made for the welfare and well-being of the public and the country in general. It is the responsibility of the government to promote economic growth with an equitable distribution of resources through public expenditure.

One of the major effects of public expenditures includes the redistribution of resources. This ensures that the resources are distributed among the underprivileged classes and a balance is maintained in the economy.

The principles of public expenditure ensure that the government succeeds in maintaining social benefits such as equal production and distribution for the welfare of the public.

The History of Public Expenditure in India

When India became a free country, the policymakers and government decided to adopt a mixed economy model. The functioning of a mixed economy is handled by the government and private sectors. The government takes decisions regarding economic activity in socially important areas while the rest of the areas are open for public undertakings. In India, the government decided to undertake the responsibility of building the infrastructure and capital to promote the economy.

The Effects of Public Expenditure

According to economist Hugh Dalton, public expenditure affects the economy in three main areas. These include production, distribution, and stabilization.

1. Production

Public expenditure affects production based on one’s potential to work and save, the inclination to work and save, and the smart utilization of resources.

Potential to Work and Save

Public Expenditure provides economic resources that promote work among people. This leads to efficiency and an increase in production, which in turn provides a gateway for the public to save their income for an investment for a better future.

The Inclination to Work and Save

If the government spends a considerable amount on providing better resources, it would encourage people to access those resources and work towards a goal. This inclination would promote production for a desire for a better lifestyle.

The Utilization of Resources

The government would thus be investing in resources where the production creates maximum value. This would encourage the unproductive resources to work along with the productive resources to create more opportunities for them. This would lead to increased production value.

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What is GDP Deflator? A Simple Guide to Understand All about GDP Deflator

2020-10-02T20:13:13.008Z

If you are preparing for the UPSC exam then the term GDP deflator is not new to you. You must be wondering what is a GDP deflator?

The GDP deflator is a measure of inflation and is also called implicit price deflator. It helps to record and measure all the price level changes of an economy in the output of goods and services of one year. Gross domestic product deflator shows the amount of change in GDP due to inflation and not increase in output.

It is expressed under a ratio form and the GDP deflator formula is 100 × NOMINAL GDP ÷ REAL GDP

Terms related to GDP deflator:

Nominal Gross Domestic Product
Real Gross Domestic Product

What does GDP Deflator Do?

Next, you may wonder what the GDP deflator does. As mentioned it measures the change in prices for all goods and services in an economy.

This further helps economists of the country to understand the level of inflation in the economy, compare levels of real economic activities and ways to curb inflation. It takes into account all the goods and services produced and thus is preferred over other measures of inflation.

Importance of GDP Deflator

The GDP deflator is among the measures of inflation. When compared to other measures like consumer product index (CPI) and wholesale price index (WPI) it is of a much broader sense. It calculates inflation on the whole economy and not just on a basket of select goods like CPI or WPI.

Any change in consumption pattern or structural reforms are directly considered into the GDP deflator. Though CPI and WPI are available on a monthly basis they do not give a clear picture of inflation in the economy.

Real GDP vs Nominal GDP

Now, it is important to understand the components of GDP deflator for your UPSC exam.

Real gross domestic product is an inflation-adjusted measure that gives us the value of the gross domestic product of an economy in a particular year. It is estimated as an index of the total quantity of output and in layman’s terms is the regular GDP we talk about. It is also called constant price GDP.

Nominal gross domestic product is the monetary value of all goods and services produced in an economy in a particular year at current prices. This causes it to keep changing every year as the prices of goods may increase due to inflation.

In case if inflation exists and is high, then the value of Nominal GDP will be higher as it is based on current year prices than the Real GDP

If Inflation does not exist or is low then the Real GDP value will be greater than nominal GDP value.

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How to Prepare for the IAS Exam after Graduation? Here’s a Guide to Start UPSC Preparation

2020-10-02T20:11:20.597Z

Curious on how to prepare for the UPSC exam after graduation? It is no secret that the UPSC exam is one of the most challenging exams in our country. This exam not only tests your knowledge but also your persistence, hard work and your never give up attitude. Read the article till the end to know how you can start your UPSC preparation after graduation.

FYI-You will have to make many sacrifices. If you are not willing to make a sacrifice of temporary pleasures for your IAS preparation, then this article is not meant for you.

Civil Services Exam Preparation after Graduation – What is the First Step?

Prepare yourself mentally!

For IAS preparation after graduation, you will have to take a year drop. While doing so, you will be under lots of pressure from parents, society, and pressure from yourself to meet the expectations of others. Preparing for UPSC after graduation can be a difficult task. The competition in the IAS exam is fierce, as long as you are determined towards your goal, you should be fine.

If you are planning to attempt the IAS exam while working, then it is very tough. It is not impossible though. Some people have done it. But it will take you more number of attempts than usual.

Enroll yourself in good coaching. You can join UPSC online coaching too. It doesn’t matter which form of coaching you choose. You just need to have a mentor who can guide you properly.

From Where To Start Preparing for IAS after Graduation

Still here…good!! Looks like you are taking steps in the right direction.

Firstly, get the print out of the syllabus and memorize it thoroughly. As the syllabus is very vast, a candidate must begin his or her preparation of the mains and then the prelims. Start your UPSC preparation from June if you wish to appear for the year after that. Go through the last five-year mains question paper to understand the length and depth of questions.

The mains examination consists of subjective answers that test your knowledge, analytics, and writing skills as well as clarity of thoughts.

Here is a step by step guide on how to start UPSC preparations in an organized way.

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