International Organizations: Introduction: International organizations are also known as intergovernmental organizations. An international organization is a stable set of norms and rules meant to govern the behavior of states and other actors in the International system. The list of important International Organizations is given in the table: Organizations Estd. Headquarters Read more…
Globalization: Factors and salient features What is globalization? Globalization can be defined as the integration between countries through foreign trade and foreign investments by multination corporations (MNCs). MNCs are playing a major role in the process of Globalization. So we can say, globalization is a process through which a society Read more…
NITI Aayog (National Institution for Transforming India) The Government abolished Planning Commission and replaced it with a new body “NITI Aayog” It was established on 1 January 2015 by NDA Government. The NITI Aayog (National Institution for Transforming India) is a ‘Public Policy Think Tank’ of the Indian Government that Read more…
Planning Commission of India (For UPSC exams) The Planning Commission was established in March 1950 by the Government of India by a Cabinet resolution, with Prime Minister Jawaharlal Nehru as the chairman. It was set up for the plan formation, resource aspects, implementation, and review on a technical basis. Facts Read more…
National Income National income is the process of counting the value of flow between sectors and then summing them to find the total value of economic activity in an economy. Income as an indicator of progress was tried by many before the idea of the Gross Domestic Product (GDP). GDP Read more…
Santiago Consensus Santiago Consensus is also an alternative to Washington Consensus. The term Santiago Consensus was given by then World Bank Group President D. Wolfensohn in Santiago for the developing countries. The main view of Santiago Consensus: The main idea of the Santiago model is “inclusion” which should be both Read more…
Beijing Consensus The term “Beijing Consensus” was coined by Joshua Cooper Ramo in 2004, also known as the Chinese model of economic development. This refers to the policies which were followed by Deng Xiaoping after the death of Mao Zedong in 1976. It was to frame China’s economic development model Read more…
Washington Consensus The term Washington Consensus was first used by English economist John Williamson in 1989. Washington Consensus is a set of free-market economic reform policies suggested by the International Monetary Fund, World Bank and the US Department of the treasury. As all the institutions were based in Washington so Read more…
Economics: A Brief Introduction of Economic Systems and Sectors in Economy Adam Smith is known as the father of Economics. Definition of economics: The term economics comes from the Greek term ‘Oikonomia’ which is composed of Oikos (house) and nomos (custom or law) meaning the rules of the household. Economics Read more…
Important National and International Days Date Event/Day January 4th January International World Braille Day 6th January World Day – War Orphans 9th January Pravasi Bhartiya Diwas 10th January World Hindi Day 11th January National Human Trafficking Awareness Day 12th January National Youth Day (India) 15th January Army Day (India) 16th Read more…