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…