Introduction India’s financial system is a complex network comprising various types of institutions, each playing a crucial role in ensuring the economy’s smooth functioning. Among these institutions, Non-Banking Financial Companies (NBFCs) have gained significant importance over the past few decades. These entities serve as an alternative to traditional banks, providing a wide range of financial…
Introduction In the context of global economic development, financial inclusion refers to the process of ensuring that individuals and businesses, regardless of their financial status, have access to useful and affordable financial products and services. These include payments, credit, insurance, and savings that are delivered in a responsible and sustainable manner. In India, financial inclusion…
A fiscal deficit is an essential concept in the field of public finance and plays a critical role in understanding a country’s economic health. In simple terms, a fiscal deficit occurs when a government’s total expenditure exceeds the revenue that it generates, excluding borrowing. It is often expressed as a percentage of a country’s GDP…
The banking sector in India is a critical pillar of the country’s financial system, facilitating economic growth, financial inclusion, and capital formation. Over the past few years, the sector has undergone significant changes, driven by regulatory reforms, digital transformation, and government interventions. However, it has also faced persistent challenges, including non-performing assets (NPAs), financial fraud,…
Introduction Agriculture has historically been the backbone of India’s economy, providing livelihood to a significant portion of the population and playing a crucial role in economic growth. Despite rapid industrialization and the expansion of the services sector, agriculture remains a vital contributor to India’s GDP, employment, and overall socio-economic development. However, the sector faces numerous…
Introduction The economic reforms of 1991 marked a turning point in India’s economic history. Prior to 1991, the Indian economy was characterized by a mixed economic model with a heavy reliance on state control, licensing systems, and protectionist policies. However, due to a severe balance of payments crisis, the government was compelled to introduce a…
Introduction Transport networks are a crucial component of a country’s economic and social development. They facilitate trade, enhance connectivity, and improve access to essential services like healthcare, education, and employment. In India, an extensive transport infrastructure consisting of roads, railways, airways, and waterways plays a significant role in shaping regional development patterns. However, disparities in…
Introduction Technology has become the driving force of modern economies, shaping industries, societies, and global competitiveness. However, the development of new technology is often concentrated in research institutions, advanced economies, and large corporations. To ensure that innovations benefit a wider audience, the process of technology transfer plays a crucial role. This article explores the meaning…
Introduction Unemployment is one of the most pressing socio-economic issues in India, and Uttar Pradesh (U.P.), the most populous state, faces a severe crisis of educated unemployment. Despite possessing educational qualifications, a significant portion of the youth remains jobless, leading to economic distress and social instability. The paradox of rising education levels and increasing unemployment…
Introduction Industrial policy plays a crucial role in shaping the economic trajectory of a nation. The term ‘New Industrial Policy’ generally refers to a shift in the approach of the government towards industrial development, with the aim of making industries more competitive, innovative, and globally integrated. India’s New Industrial Policy, introduced in 1991, marked a…