Indian Economy and Development

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Comprehensive Crop Insurance Scheme was introduced in <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">April 1985. The Government of India had introduced the Comprehensive Crop Insurance Scheme with effect from 1st April 1985. This scheme was introduced with the active participation of State Governments. The Scheme was optional for the State Governments.  

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Uttar Pradesh <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">yields the highest production of milk in India. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">UP is the largest contributor to the national milk production contributing around 18% of total milk production in the country. It has got the second highest cattle population and highest buffalo population in the country.  

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Free Market Policy<span style="border:none" windowtext="" 1.0pt;mso-border-alt:none="" 0in;padding:0in;background:white=""> is not helpful in controlling money supply. A free market is an economic system that allows supply and demand to regulate prices, wages, etc, rather than government.^[1] Free markets contrast with controlled markets in which prices, supply or demand are directly or indirectly controlled by government. 

The apex organisation of industrial finance in India is IDBI. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Iron Ore <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">need not be imported in India. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Odisha<span style="font-family:Arial;border:none" windowtext="" 1.0pt;mso-border-alt:none="" 0in;padding:0in=""> <span style="border:none" windowtext="" 1.0pt;mso-border-alt:none="" 0in;padding:0in="">is, after all, one of the country's biggest producers and exporters of iron ore - the critical input for making steel. As all the iron ore needs are met by it so it need not be imported in India. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Tata Hydro Electric Project is a joint enterprise with Bhutan. Tata hydroelectric project is jointly under membership of The Royal Government of Bhutan. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">PLR <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa;mso-bidi-font-weight:bold="">is not determined by Reserve Bank of India. The prime lending rate is not determined by the RBI rather by the individual banks only. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa;mso-bidi-font-weight:bold="">I<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">ndia's National Hydroelectric Power Corporation is establishing 'Tamarthi Power Project' in<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa;mso-bidi-font-weight:bold=""> Bhutan. NHPC is establishing this power project in Bhutan.

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">India stands first in the world in Sugarcane. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Before the 18th century, cultivation of sugar cane was largely confined to India. Sugarcane plantations, like cotton farms, were a major driver of large human migrations in the 19th and early 20th century. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Under new GATT agreements, textile trade related to Multi-Fibre Arrangement (MFA) has to be abolished within 10 years. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">At the General Agreement on Tariffs and Trade (GATT) Uruguay Round, it was decided to bring the textile trade under the jurisdiction of the World Trade Organization. The Agreement on Textiles and Clothing provided for the gradual dismantling of the quotas that existed under the MFA. This process was completed on 1 January 2005. However, large tariffs remain in place on many textile products. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">SENSEX is related with the value of a few selected companies. The number of companies is 30. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The Sensex represents the composite value of shares of 30 selected companies traded on BSE. The Nifty represents the composite value of shares of 50 companies traded on NSE. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa;mso-bidi-font-weight:bold="">Karnataka <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">has the greatest number of branches of public sector commercial banks. It has various branches of a commercial bank named Vijaya Bank i.e a public sector commercial bank. 

ICICI bank became the first in providing mobile ATM service. First rural branch and ATM launched in Uttar Pradesh at Delpandarwa, Hardoi.  ICICI Bank launched iMobile, a breakthrough innovation in banking where practically all internet banking transactions can now be simply done on mobile phones. 

‘Open sky scheme’ is export promotion scheme of Civil Aviation Ministry. Open skies is an international policy concept that calls for the liberalization of the rules and regulations of the international aviation industry especially commercial aviation in order to create a free-market environment for the airline industry. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The oil refinery established at Panipat belongs to Public sector. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Three major public sector projects include the Indian Oil Corporation oil refinery, the National Fertilizers Limited plant and the thermal power station<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa=""> at Panipat. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">According to the latest amendment in Banking Regulation Act, nationalised bank can release a share of total paid up capital upto a maximum ceiling of 49%. It enables the nationalised banks to increase or decrease the authorised capital with approval from the Central Government and the Reserve Bank without being limited by the ceiling of a maximum of three thousand crores of rupees. 

'Golden Handshake Scheme' is associated with voluntary retirement. A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses his or her job through firing, restructuring, or even scheduled retirement.

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The minimum number of women needed for making a 'Working Group' under DWCRA programme is 10. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The special scheme for Development of Women and Children in Rural Areas (DWCRA) aims at strengthening the gender component of IRDP. It was started in the year 1982-83, on a pilot basis, in 50 districts and has now been extended to all the districts of the country.

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">National Renewal Fund was constituted with the objective of r<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">ehabilitation of workers removed due to modernisation of industries. The main scope of it is to provide assistance to cover the costs of retraining and redeployment of employees arising as a result of modernisation, technology upgradation and industrial restructuring. 

Myanmar is not a member of SAARC. Its seven founding members are Sri Lanka, Bhutan, India, Maldives, Nepal, Pakistan and Bangladesh. Afghanistan joined SAARC in 2007. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">National Income estimates in India are prepared by C.S.O. Since 1955 these estimates are prepared by Central Statistical Organisation. The C.S.O has divided the Indian economy into three basic sectors for the purpose of evaluation of data.  

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The largest importer country of Indian textiles is USA. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The composition of imports of clothing and textiles by USA in 2003 was 80 percent (US $ 71 bn) and 20 percent (US $ 18 bn), respectively. Asia was the principal sourcing region for imports of both textiles and clothing by USA. Latin American region stood at second position with a share of 12 percent (US $ 2.2 bn) and 26 percent (US $ 18.5 bn), respectively, for textiles and clothing imports, by USA. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The leading Indian company in field of M-cap is <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Reliance Industries Ltd. Reliance Industries Limited (RIL) (BSE: 500325, NSE: RELIANCE, LSE: RIGD) is an Indian conglomerate company headquartered in Mumbai, Maharashtra, India. RIL is one of the largest publicly traded company in India by market capitalisation.