Some useful economics From February 2016
India,the emerging economy playing the marvelous role in boosting the international Integration,to boost and perform with ease of doing business in Feb 2016 was the month where many economic activities got carried out.The role of Government is always pioneer in the development as the every ministry of it doing smart increase in the policies ,minimizing the loopholes,leakages through various technological advancement.some terms,policies,facts came in the focus and the vision explained further
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1)Sweat equity -Sweat equity is a party’s contribution to a project in the form of effort and toil, as opposed to financial equity such as paying others to perform the task.Recently TAPAN RAY PANEL recommended ,allowing start-ups 50% of the paid capital in sweat equity against the 25%
2)Bulk Drug- Active raw drug material used in the drugs used by pharmaceutical companies
3)Market economy status- A market economy is an economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country’s citizens and businesses and there is little government intervention or central planning.Recently china being granted from Dec 2016 .
4)Non-Tax Revenue E-portals- Important under Digital India campaign. Launched by finance ministry to collect online non tax payments by credit card /debit cards/net banking.Non Tax such as -dividends spectrum charges,royalty ,licence fees sale of forms under RTI.
5)social banking- In Social Banking, the focus is on satisfying existing needs in the real economy and the society whilst simultaneously taking into account their social, cultural, ecological and economic sustainability.
6)Unified Payment Interface-P2P transaction from any bank account by the people by the mobile phone application. Launched by NPCI and Ispirit. Uses IMPS (Immediate Payment Service).
- National capital Goods Policy – launched to boost capital goods sector and Make In India.improving ease of doing business ,minimizing the issues,maintaining the proper business environment etc
- Draft Bulk Drug Policy- Department Of pharmaceutical ,based on katoch committee ,aims- soft loans to economy ,six large Active Pharmaceutical Ingredients (API),Research and development Investment,tax benefits and import duty exemption.
- wind energy is the largest renewable source in India.
- JNNSM aims to generate 1,00,000 MW of solar power by 2022.
The vision of the government is very clear towards the sustainable development of the economy ,though many hazards like natural calamities exist the stability always work for them.The necessity of people participation can never be neglected for achievement of the economical goals .
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