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International Organizations

April 22, 2023April 24, 2023 pcsclasses

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 President/General Secretary Members International Labour Organization (ILO) 1919 Geneva Gilbert Houngbo – 11th director general of ILO. (assumed office – 1 Oct. 2022) 187 (Tonga-187th member) Interpol 1923 Lyons (France) Nasser Al-Raisi (Chaiman) 194 (Kiribati-194th member) Commonwealth 1931 London (UK)…

Globalization: Factors and salient features

November 15, 2022December 17, 2022 pcsclasses

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 opens up to outside influence whether it is production, trade, politics, culture, fashion, etiquette, literature, fine arts, dance forms, or music. In simple words, ‘globalization is the increasing level of interconnection among people and places throughout the world. Economic globalization…

NITI Aayog (National Institution for Transforming India)

November 14, 2022August 12, 2023 pcsclasses

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 emphasizes a ‘bottom-up approach to economic policies, which functions as a catalyst for developmental process-nurturing an overall enabling environment, through a holistic approach, with the vision of Cooperative Federalism, good governance, and plugging the gap and bringing together the ministers…

Planning Commission of India

November 7, 2022July 4, 2023 pcsclasses

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 to Know Our Planning Commission Important facts about the Commission are given below: The Planning Commission was an extra-constitutional i.e. non-constitutional and non-statutory body. It was an advisory body to the government of India for economic development. Planning Commission was…

National Income

November 5, 2022August 17, 2023 pcsclasses

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 is the most commonly used measure of economic activity, and its idea was put forward by the US economist Simon Kuznets in 1934. The method tries to calculate National Income The method tries to calculate a country’s income at domestic…

Santiago Consensus

October 31, 2022March 4, 2023 pcsclasses

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 economic as well as social. Though it is a socio-economic development model and it is bound to have its local characteristics. This way, it looks similar to the Beijing Consensus which also includes social overtones. In addition to financial resources,…

Beijing Consensus

October 29, 2022October 29, 2022 pcsclasses

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 as an alternative for developing countries to the Washington Consensus of market-friendly policies promoted by the IMF, World Bank, and the US. Treasury. It was seen as an anti-Washington Consensus view for developing countries. The pillars of the Beijing Consensus…

Washington Consensus

October 28, 2022November 17, 2022 pcsclasses

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 the policy prescription was called Washington Consensus by John Williamson. It was for the developing countries faced with the economic crisis. The Washington Consensus recommended structural reforms, in the free market promoting policies in such areas as macroeconomic stabilization, economic…

Economics: Economic Systems and Sectors in Economy

October 21, 2022May 9, 2023 pcsclasses

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 studies the ‘economic activities’ of human beings. Economics is a social science that studies economic activities to gain an understanding of the processes that govern the production, distribution, and consumption of goods and services in an economy. However, it has…

Important National and International Days

September 5, 2022September 5, 2022 pcsclasses

Important National and Internation Days UPSC EXAMS

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 January National Start-up Day 17th January World Religion Day 23rd January Parakram Diwas (Netaji Subhas Chandra Bose Jayanti) 24th January National Girl Child Day (India) 25th January Tourism Day National Voters Day 26th January Republic Day (India) 27th January International…