Economy Notes for SSC IBPS RBI SBI PO

Jul 4 • Banking Awareness, Economics • 1098 Views

Economy Notes For SSC IBPS RBI SBI PO and Other Competitive Examinations

Economy Notes for SSC IBPS RBI SBI PO

Introduction

Economy is the study of production, distribution, trade and consumption of goods and services in a geographical region.
Indian Economy is the 7th largest in world on the basis of nominal GDP.
Indian Economy is the 3rd largest on the basis of PPP( Purchasing Power Parity).
Indian Economy is a developing economy.
Indian Economy is complex, diverse and quickly varying in nature.
As per the World development report(2015), India possess the following-

Discrepancy in income distribution
Dominance of agriculture
Burden on agriculture
Overpopulation
Lack of capital
Unbalanced economic Development
Market imperfections
Constraint Availability of transport and communication
Low pace of development

Important Facts of Indian Economy

Population

The Total Population is about 121.0854 crore as per the census 2011.
The Total rural population is 83.37 crore.
The Total urban population is about 37.71 crore.
Sex ratio ( Male to Female ratio) i.e no. of females per 1000 males is 943.
Child sex ratio i.e children between 0 to 6 years is 919.
State with highest sex ratio is Kerala.The sex ratio in Kerala is 1084 as per the census 2011.
According to world bank the total labour force in india is 48.43 crore.
Population Density is 382 per sq km ( Census 2011).
Birth Rate(BR) is 21.3 per thousand population( upto year 2013).
Death Rate(DR) is 7 per thousand (upto 2013).
The Maternal Mortality Rate ( MMR) is 167 per 100000 live births (2011-13)
The overall literacy rate of persons is 73% (2011)-
Rural Female- 57.9%
Rural Male – 77.2%
Urban Female- 79.1%
Urban Male- 88.8%
Infant mortality rate is 40 per thousand live births (2013).
Child Mortality rate is 49 per thousand Children (between 0 to 5 yrs).
The Life expectancy is 68.13 years at the time of birth.

National Income Estimates

The Gross Domestic Product (GDP) at constant prices 2015-16 is 113.51 lakh crore
(Actual Estimates ).
The Gross National Product (GNP) at constant prices (2011-12) for the year 2015-16 is 112.14 lakh crore(AE).
The GNP at current price for the year 2015-16 is 134.10 lakh crore(AE).
The Net National Product (NNP) at constant prices( 2011-12) for the year 2015 -16 is 99.34 lakh crore(AE).
The NNP at current price for year 2015-16 is 119.61 lakh crore(AE).
Per Capita income (Average income of a country) at constant prices (2011-12) for the year 2015-16 is 77431.
Per capita income at current prices for the year 2015-16 is 93231.

Year	Agriculture	Industry	Service
2013-14	4.2	5.0	7.8
2014-15	(-)0.2	5.9	10.3
2015-16	1.1	7.3	9.2

Table showing GDP Growth in major sectors

Main Production

Cement (2013-14)	303 million tonnes
Coal (2014-15)	447.5 million tonnes
Crude oil (2013-14)	37.77 million tonnes
Electricity generated (2014-15)	1256 billion kwh
Raw Steel (2014-15)	86.5 million tonnes
Food grains( 2014-15)	252.68 million tonnes

Table showing Main production of different commodities

Highest Production States
Highest production of Wheat Uttar Pradesh
Highest production of Rice West Bengal
Highest production of Pulses Madhya Pradesh
Highest production of Coarse Cereals Rajasthan
Highest production of Total Foodgrains Uttar pradesh
Highest production of Oilseeds Madhya Pradesh
Highest production of Sugarcane Uttar Pradesh
Highest production of Cotton Gujarat
Highest production of Onion Maharashtra
Highest production of Potato West Bengal
Highest production of Jute and Mesta West Bengal

Monetary and Credit Policy
Bank rate 7%
Marginal standing facility rate (MSFR) 7%
Repo Rate (RR) 6.5%
Reverse repo rate(RRR) 6%
Statutory Liquidity Ratio(SLR) 21.25%
Cash Reserve Ratio (CRR) 4%

Sectors of Indian economy

Primary Sector

Activities are associated with production of goods by exploitation of the natural resources.
This sector forms the basis for all other products.
Since most of the natural products we get are from agriculture, Dairy, fishing, Forestry etc so this sector is also called “Agriculture” sector.
For instance-cotton cultivation, Wheat cultivation, Sugarcane cultivation

Secondary Sector

Activities in which natural products are converted into the usable forms through the ways of manufacturing comes under secondary sector.
It is also called “Industrial sector” or “Manufacturing sector”.
For example using cotton fibre from the plant we spin,yarn and weave cloth.
Also using sugarcane as raw material we make ‘sugar’ or ‘gur’(Jaggery).

Tertiary Sector

These are the activities that help in the development of the primary sector and the secondary sector.
They are the support or aid for the production processes.
Also known as “Service Sector” as they generate services.
E.g Transportation, Storage, Communication, Banking & trade.
Some services that do not aid production also comes under this category like teachers, doctors, administrators, cobbler, lawyers etc.
Note- We need not count individual goods and services to know the total production in each sector. We only count final goods and services because the value of the final goods already include the value of all the intermediate goods that are used in making the final good.
The value the final goods and services produced in each sector during a particular year provides the total production of the sector for that year.
The sum of production in the 3 sectors gives Gross Domestic Product (GDP) .
It is the value of final goods and services produced within our country during the year.

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Ancient History of India

Jun 1 • History • 725 Views

History

Ancient History
Medieval History
Modern History

Ancient Times Of History:

Major Periods in Early Indian Archaeology:-

2 million BP (Before Present)	Lower Paleolithic
80,000	Middle Paleolithic
35,000	Upper Paleolithic
12,000	Mesolithic
10,000	Neolithic
6,000	Chalcolithic ( first use of copper)
2600 BCE	Harappan Civilisation
1500-1000 BCE	Early Vedic Period
1000-600 BCE	Later Vedic Period (first use of Iron)

Courtesy: NCERT

Stone Age :-

Paleolithic Age:-

This age defines the appearance of earliest culture to use stone tools.
In this period, man gathers food.

Mesolithic Age:-

It is also called as middle stone age.
It is the transition phase.
Man started domestication of animals in Mesolithic period.

Neolithic Age:-

It is also called as new stone age.
It was period in which development of human technology started.
In neolithic period, man is the food producer.
Invention of wheel took place in this period only.

The first metal that was found by man was copper in Chalcolithic age.

b) Indus valley Civilization (2600-1900 BC):-

In 1875, the first Director-General of the ASI, Alexander Cunningham( known as the father of Archaeology) reported on Harappan seal.
In 1921 AD, Dayaram Sahni had discovered Harappa.
Harappa was situated on the bank of Ravi river in Punjab state of Pakistan.
In 1922 AD, R.D Banerjee had discovered Mohenjodaro.
Mohenjodaro(means mound of death) was situated on the bank of Indus river in Sindhu state of Pakistan.
Great Bath was found in Mohenjodaro.
Important Sites:-

Kalibanga – Ghaghar- Punjab
Banwali – Saraswati – Haryana
Ropar – Satluj – Punjab
Lothal(port) – Bhagwa river – Gujarat

Features Of Indus Valley Civilization (IVC):-

It is Bronze age.
Urban civilization
Roads straight and cut each other at 90 degree.
Well drainage system.
Main Occupation – agriculture.
Main food crop – wheat.
Evidence of Rice – Lothal, Rangpur (in Gujarat).
Most important animal – Humped bull.
Evidence of horse – Sur Kotla (Gujarat).
They didn’t know about Iron.
They did image worship.
First time cotton was cultivated in IVC.
First time the game of chess had been introduced by IVC.
People of IVC trade with Mesopotamia(Iraq).
Mother of goddess(Earth) was the most important among the gods and goddess.
The people of this civilisation worshiped Neem tree, Pashupati tree and Peepal tree.
The script of this civilisation was pictographic.

c) Vedic Civilisation(1500-600 BC):-

Early Vedic Period (1500-1000 BC) :-

Rigveda the oldest religious book of Hindu religion.
It was composed by Aryans in Punjab.
Aryans first time came in Punjab and introduced Sanskrit language in India.
Rigveda has 1028 hymns.
It is divided into 10- mandals out of which second and eighth mandal are oldest while first and tenth mandals are latest.
Gayatri mantra is taken from tenth mandal.
Rigveda is about prayers of different Gods and Goddess.
Original Home Of Aryans:-

Maxmuller – Central Asia
Dayananda Saraswati – Tibet
Bal Gangadhar Tilak – North Pole
Penuke – Germany
A.C Das – Sapt Sindhu State

Features Of Early Vedic Period:-

Rural Civilization
Didn’t know about Iron
Indra was the most important God, known as Prundar.
Horse was their favorite animal and Aryans were good cavaliers.
There was no concept of king, state and personal property.
Rajan or Gopal was the head of the society.
Sabha, Samiti and Vidhata help the rajan to perform his duty.
In the later part of this civilization varna system introduced in society.
Society was divided into 4- classes :- Brahmins, Kshatriyas, Vaishyas and Sudras.
Varna system was based on the work not on the birth.

Later Vedic Period (1000 – 600 BC) :-

This civilization was known as Painted Grey ware Phase.
First time iron was used in India in 1000 BC at Gandhar.
Three more vedas were introduced in this period.
Samveda – Music book, Yajurveda – Methods Of Ritual’s book, Atharvaveda – Medicine and Magic books.
7 Brahmanas – These are the notes of vedas and these are the first example of Prose Writing in the world.
108 Upanishads (sitting besides) – theses are the philosophy of hindu religion.
Satyamev Jayate is taken from mundaka upanishad.
Ramayana was written by Valmiki And Mahabharata (originally known as Jaya Samhita and Satasahiri Samhita) was written by Ved Vyas.

Features Of Later Vedic Period:-

Rural Civilization
Main occupation – Agriculture
Most important God – Prajapati
Cow was the most religious animal considered in this period.
Varna system based on the birth, condition of sudras was miserable.
Pushan (God of animal) was god of sudras.

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Astronomy

May 30 • Geography • 1645 Views

Source: NASA

Astronomy

Geography

The term ‘Geography’ is derived from the Greek word ‘Geographia’ which means ‘description of Earth’
It deals with the study of Earth’s landscapes, phenomena of Earth, people,the inhabitants, places , environments,maps etc.
Geography is subdivided into human geography and physical geography.
Human geography concerns with the understanding the dynamics of cultures, societies and economies.
Physical geography deals with the understanding the dynamics of physical landscapes and the environment.
Father of Geography is ‘Eratosthenes.’

Part-1- Astronomy

Astronomy is the study of celestial objects – Stars,Galaxies ,Planets Comets etc.
Astrophysics deals with concepts of physics to understand astronomy.
The study of universe known as cosmology.

Universe and Big Bang Theory
Universe refers to everything that exist and includes all the physical matter and energy, the planets, stars, galaxies and all interstellar spaces.
Origin of the universe is explained by the Big Bang Theory.
Big bang theory suggests that some 15 billion years ago, a massive blast allowed all the universe’s known matter and energy—even space and time themselves—to spring from some ancient and unknown type of energy.
Initially , all the matter in the universe was originally one concentrated lump called ‘primeval atom’.

Source: NASA

Galaxy

A galaxy refers to a large system of stars, stellar, interstellar, remnants, gas dust , and dark matter.
Earth’s Galaxy is ‘milky way.’
The Milky way is a large spiral shaped galaxy.
It is also known as ‘akash ganga’.
The nearest galaxy to milky way is ‘Andromeda’.
Andromeda is also spiral in shape.

Source: NASA

Nebula

Nebulae are huge interstellar cloud of dust, hydrogen, helium and other ionized gases.
They appear either as bright luminous clouds or as dark patches.

Source: NASA

Stars

Stars are the most widely recognized astronomical objects, and represent the most fundamental building blocks of galaxies.
Sun is also a star.
After sun, the nearest star to earth is ‘alpha centauri’(Also known as Proxima Centauri).It is about 4.3 light years away from us.

Source: NASA

Constellation

A constellation is a traditional or recognizable group of stars.
For instances- Capricorn, Sagittarius, Scorpius , Libra etc.

Source: NASA

Source: NASA

The Solar System

The Sun, Nine Planets (Now 8), the satellite of planets, the comets , the asteroids , the meteoroids and the interplanetary dust constitutes the solar system.
The planets names are mercury, Venus ,Earth ,Mars , Jupiter, Saturn , Uranus and Neptune.
Pluto is known as Dwarf planet.
Pluto lost the status of planet in year 2006 as announced by International astronomical union (IAU).
In the solar system the planet nearest to the sun is mercury the farthest planet from the sun is Neptune.
The size of the solar system has been estimated to about 105 astronomical units.

Source: NASA

Note: To remember the sequence of planets ,follow this-
“My Very Elegant Mother Just Show Us Nine Planets”

Mercury Venus Earth Mars Jupiter Saturn Uranus Neptune Pluto (Not Planet)

The Sun
Sun is the source of energy of solar system.
It is the nearest star to the earth.
Its size is 1300000 times as that of Earth.
It is at the center of the solar system.
Its diameter is about 1400000 kilometers.
It is composed of 71% hydrogen , 26.5 percent helium and 2.5 % other elements .
The surface temperature of sun is about 6000 degree Celsius.
The temperature at the center are the inner temperature is about 150 lac degree Celsius.
Shiny surface of the sun is called ‘photo sphere.’
The outermost layer of Sun’s atmosphere is made up of thin hot gases Called ‘Corona.’
Light takes about 8.5 minutes to reach the earth from the sun.
The sun is about 150 million kilometers away from the Earth.

Source: NASA

Planets

The planets have no light of their own.
They take light from the Sun.
All planets move on their axes From west to east except Venus and Uranus which move on their axes from east to west.
The planets revolve around the sun in an elliptical orbit.
Satellites are the celestial bodies which revolve around the planet.
Jupiter has 63 satellites whereas Venus and mercury does not have any satellite.
Mercury and Venus are also known as inferior planets.
Mercury ,Venus ,Earth & Mars are known as ‘Terrestrial planets’ and the rest of the planets of the solar system are known as ‘Gaseous planets.’
The 4 outermost planets Saturn ,Jupiter ,Uranus and Neptune are also known as ‘Jovian planets’.

Mercury
Mercury is the closest planet to the sun.
Mercury is the extremely hot planet.
The surface temperature of mercury is about 450 degree celsius in daytime and about several degrees below the zero degree celsius at night.
The orbital period of mercury is about 88 Earth days but it takes around 116 earth days to rotate on its axis.
The planet has no water.
Mercury planet has no life building gases is like carbon dioxide , Nitrogen oxide,oxygen and hydrogen which can build life.
Mercury has no protective layer like earth.

Source: NASA

Venus

Venus is a second planet from the sun.
It is the nearest planet to the earth.
Venus is known as ‘evening star’ as well as ‘morning star.’
Venus is also known as ‘Earth’s twin’ as it is very much like the earth in size and mass.
It is the hottest planet of the solar system.
Venus also does not have any water.
It rotates from east to west.

Source: NASA

Earth

Earth is the largest of the inner planets.
The earth is tilted 23.5 degrees on its axis.
The axial tilt is also known as obliquity.
It takes 365 days 5 hours and 48 minutes to revolve around the sun.
It takes 23 hours 56 minutes and 4 seconds to rotate on its axis.
Earth is the only planet which provide sustenance of life on it
It has large quantity of oxygen which supports life.
Earth is also known as watery Planet or the blue planet.
The earth has all the essential elements like carbon hydrogen nitrogen and oxygen which act as building blocks of the origin of life.
The earth is neither too hot or nor too cold it has Goldilocks zone
Goldilocks zone is a small habitable zone near star which has life sustainability.

Source: NASA

Mars

Mars is also known as Red Planet.
It is the fourth planet from the sun.
Iron rich red soil of mass give it the name red planet and also it has pink Sky.
Mars to satellites ‘phobos’ and ‘Demos’.

Source: NASA

Jupiter

It is the largest planet of the solar system.
Jupiter is as big as 1300 Earths put together.
It is also known as winter planet because of its low average temperature.
Jupiter has highest number of satellites in the solar system.

Source: NASA

Saturn

It is the second largest planet in the solar system .
Saturn has bright concentric rings which are made up of ice and ice covered dust particles which revolve around it.
Titan the satellite of Saturn is the largest satellite in the solar system.

Source: NASA

Uranus

Uranus is the seventh planet from the sun.
It appears greenish in color because of Methane Gas present in its atmosphere/
Uranus is about 4 times the size of the earth.
It is the first planet to have been discovered by the use of telescope
It is the third biggest planet of the solar system.
It rotates from east to west.

Source: NASA

Neptune

Neptune is a planet of the solar system
Neptune has very low average temperature
Neptune and Uranus can be considered as twin planet as they look similar

Source: NASA

Pluto

Pluto is classified as a dwarf planet and is also a member of a group of objects that orbit in a disc-like zone beyond the orbit of Neptune called the Kipper Belt.
Pluto is about two-thirds the diameter of Earth’s moon and probably has a rocky core surrounded by a mantle of water ice.
According to International Astronomical Union (IAU) the Pluto is not considered as the planet now as the planet must be big and round and also planet must orbit the sun.
On August 24 2006 it was declared that route of Pluto would no longer remain as that of planet.
Therefore now the solar system have only 8 planets.

Source: NASA

The Moon

The moon is the only satellite of the earth .
Its diameter is about 3475 km.
It takes 27 days 7 hours and 43 minutes to rotate on its axis and this period of 27 and half days is called sidereal month.
Moon takes approximately the same period of time review all around the earth and to rotate around the earth
The temperature during daytime is about 100 degree Celsius and in night it drops about -180 degree Celsius.
The size of the moon is one fourth of the size of the earth
Moon is also known as Fossil planet.
The study of moon is called selenography.

Source: NASA

The comets

A small body made up of small amount of dust and rock
the main body of the Comet is called nucleus.
The chief constituent of nucleus is water, Methane ,nitrogen and ice.

Source: NASA

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