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Monthly Archives: April 2023

Some Advice to India on the IFA Negotiations

Editorial of the Day: Some Advice to India on the IFA Negotiations (The Hindu)

Context: The article is discussing the proposed Investment Facilitation Agreement (IFA) which is being actively pursued by more than 100 countries, excluding India in WTO. It also highlights the difference between the IFA and investment protection agreements like Bilateral Investment Treaties (BITs) and the problems associated with the Investor-State Dispute Settlement (ISDS) clause of the …

Dealing with Fake News in India

Dealing with Fake News in India

Context: Recently, the Ministry of Electronics and IT notified amendments to the Information Technology Rules, 2021, which allows the Ministry to appoint the fact-check body.  What is Fake News? Fake News: Fake news has three different notions: misinformation, disinformation, and mal -information.  Misinformations are false information, but when a person conveys, it is believed to …

Socialist Economy 

Socialist Economy Definition, Examples, Features, Merits & Demerits

Socialist Economy  A Socialist Economy is an economic system in which the means of production, such as land, factories, and machinery, are owned and controlled by the state or the community as a whole, rather than by private individuals or corporations. In a socialist economy, resources are allocated according to the needs of society, and …

Current Affairs for UPSC Exam 2023

Current Affairs 8th April 2023 for UPSC Prelims Exam

Current Affairs 8th April 2023 for UPSC Prelims Exam Genome India Project Context: According to Secretary of Department of Biotechnology (DBT), about 66% of Genome India Project has been completed. About Genome India Project (GIP) Department of Biotechnology (DBT) initiated the ambitious “Genome India Project” (GIP) on 3rd January 2020. GIP aims to collect 10,000 …

Capitalist Economy

Capitalist Economy, Definition, Examples, Features, Merits & Demerits

Capitalist Economy A Capitalist Economy is an economic system characterized by private ownership of the means of production and distribution of goods and services. In a Capitalist Economy, individuals and businesses are free to make their own economic decisions, and the market determines the prices of goods and services based on supply and demand. The …

Types of Economy

Types of Economy System & Sectors, Definition, Examples

Types of Economy There are several types of economy, each with its own characteristics and strengths. The most common Types of Economy include Traditional Economy, Command Economy, Market Economy, Mixed Economy, Green Economy, Sharing Economy, Digital Economy, Developed Economy, Emerging Economy, Socialist Economy, Subsistence Economy, Circular Economy and Capitalist Economy. What is Economy? Economy refers …