GS paper 3

Digital Currency in India, Definition, Types, Advantages & Disadvantages

Digital Currency Digital Money, also known as electronic money or e-money, refers to any form of currency or value that exists in digital or electronic form. It represents a digital representation of traditional fiat currency, such as the US dollar...

Monetary System in India, Concept, Types, Importance

Monetary System A Monetary System is a set of policies, regulations, and institutions that govern the supply and circulation of money in an economy. It includes the mechanisms for creating and controlling the money supply, as well as the means...

Physical Quality of Life Index (PQLI), Definition, Formula, Components

Physical Quality of Life Index The Physical Quality of Life Index (PQLI) is a measure that combines three basic indicators of human well-being - literacy rate, life expectancy, and infant mortality rate - into a single index. It was developed...

Green Accounting, Definition, Objective, Types, Component, Importance

Green Accounting Green Accounting, also known as environmental accounting or sustainable accounting, is a system of accounting that takes into account the economic, environmental, and social costs and benefits of business activities. It involves measuring and reporting the impacts of...

Carbon Tax, Definition, Types, Examples, Implementation

Carbon Tax A Carbon Tax is a type of environmental tax that is levied on the carbon content of fossil fuels such as coal, oil, and gas. The aim of a carbon tax is to reduce greenhouse gas emissions by...

Purchasing Managers Index (PMI), Definition, Calculation

Purchasing Managers Index The Purchasing Managers' Index (PMI) is an economic indicator that measures the performance of the manufacturing and services sectors in India. It is based on monthly surveys of purchasing managers in various industries and provides insight into...

Kuznets Curve, Hypothesis, Graph, Criticism, Applications

Kuznets Curve The Kuznets curve is an economic concept that describes the relationship between economic development and income inequality. The curve was named after Simon Kuznets, a Nobel Prize-winning economist who first proposed the idea in the 1950s. According to...

Gini Coefficient, Definition, Formula, Importance, Calculation

Gini Coefficient In simple terms, the Gini coefficient is a way to measure how evenly or unevenly income or wealth is distributed in a society. A lower Gini coefficient indicates a more equal distribution, while a higher Gini coefficient suggests...

Producer Price Index in India, Definition, Formula, Purpose

Producer Price Index In India, the Producer Price Index (PPI) is a new index introduced by the Ministry of Commerce and Industry in 2020. The PPI measures the average change in the prices received by domestic producers of goods and...

Government Budgeting, Meaning, Objective, Types & Components

Government Budgeting A nation's income and expenses are detailed in the government budgeting, which is a comprehensive document. This yearly report is delivered to the Lok Sabha by the nation's finance minister in front of the elected officials of the...