Banking Marketing Aptitude Economics Economics


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Economics is a subject matter that studies different economic activities as a directed towards the maximisation of satisfaction or maximisation of profit at the level of an individual and maximisation of social welfare at the level of the country as a whole. Classification of Economics into branches was done by Ragnar Frisch.




When economic problems or economic issues are studied considering small economic units like an individual consumer or an individual producer is called Microeconomics




  • Microeconomics is basically concerned ring with determination of output and price for an individual firm or industry.



Macroeconomics is concerned with the economy as a whole or large segments of it. It is that branch of economics which studies economic activities at the level of an economy as a whole. It deals the following—

  • Theory of National Income
  • Theory of Money
  • Theory of employment
  • Theory of General Price level
  • Theory of economic growth
  • Theory of international trade


  • Microeconomics is basically concerned with determination of aggregate output and general price level in the economy as a whole.


Market economics

Market economics are those economies in which economic activities are left to the free play of the market forces. Producers are free to produce those goods and services which are high in demand, so that they are able to maximize their profits. While consumers are free to buy goods and services in accordance with their choice and preference, so that they are able to maximize their satisfaction.


  • In this economy, there is no interference by the government regarding what and how much to produce and what or how much to consume.
  • In market economy, self-interest is the prime consideration behind allocation of resources to the production of different goods and services.


Centrally planned economics

Those economies in which the course of economic activities is decided by some central authority or by the government. For example— A central authority decides how much of wheat and how much of rice are to be produced. Only government decides the overall basket of goods and services that the people can consume.

  • In this economy, social welfare or collective welfare is the prime consideration behind allocation of resources to the production of different goods and services.


Mixed economics

Mixed economies are those economic activities, which generally left to the free play of the market forces, but simultaneously the government exercises its control with a view to regulating the overall course of production, consumption and investment.

  • Its exhibit the characteristics of both market economies and centrally planned economies. The government intervenes to ensure social justice Along with a higher level of growth.



The term "utility" refers to that quality of a commodity by virtue of which our wants are satisfied. In other words, wants satisfying power of a good is called utility.

  • This is assumed to be measured in terms of cardinal numbers, such as 1, 2. 3, 4 etc. These numbers are called utile or units of utility. Here 4 utils of utility are greater than 3 utils of utility, 3 utils are greater than 2 and So on.
  • For example—A glass of milk must yield some satisfaction and we expect the consumer to express it in terms of cardinal numbers like 2, 3. or 4. We call it as utils or units of utility.


Total Utility and Marginal Utility

Total Utility (CTU)

It is the sum total of utility derived from the consumption of all the units of a commodity. For example— If 2 units of a commodity are consumed and 1st unit yields satisfaction of 10 utils while the 2nd unit yields satisfaction of 9 utils, then total utility = 10 utils + 9 utils = 19 untils


Marginal Utility (MU)

It refers to additional utility on account of the consumption of an additional unit of a commodity. For example—If 10 units of a commodity yield satisfaction of 100 units, and 11 units o£a commodity yield satisfaction of 105 utils then additional utility on account of the consumption of llth unit of commodity is 105 - 100 = 5 utils. This is called Marginal Utility.


  & {{M}_{nth}}={{M}_{n}}T{{U}_{n-1}} \\

 & Then\,MU\,=T{{U}_{11}}-T{{U}_{10}} \\


= 105 - 100 = 5 utils


Relation between "total Utility and Marginal Utility

  • TU increases as long as MU is +ve
  • UT is maximum when MU = 0
  • TU starts declining when MU is -ve


Indifference Curve

  • A curve which is a diagrammatic presentation of an indifference set. It shows different combinations of two commodities (like apples and oranges) between which a consumer is indifferent. Each combination offers him the same level of satisfaction.

Indifference set

  • Is a set of two commodities which offer a consumer the same level of satisfaction? So that he is indifferent between these combinations. For example—in the above fig. each point on the curve (like A, B, C, D) shows one combination of apples and oranges. Since each combination offers the same level of satisfaction to a consumer, this curve is called indifference curve.



Demand for a commodity refers to the desire to buy a commodity backed with sufficient purchasing power and the -willingness to spend.


Related goods and IJ unrelated goods

Goods are said to be related when demand for one changes in response to change in price of other. For example—Tea and coffee are related Goods.

Goods are unrelated when demand for one is independent of any change in price of the other. Demand of shoes is not affected by change in price of sugar.


Degree of price inelastic of Demand:

(a) Perfectly of elasticity:  It is a situation where the slightest rise in the price causes the quantity demanded of the commodity to fall to zero.

  • In fig DD' is perfectly elastic demand curve which is parallel to x—axis. In fig. it shows that if price is slightly   e Ed = oo increased from Rs 4 the demand will fall to zero. At the prevailing price of & Rs 4 the consumer may buy 10 or 20   8 2 units or 30 units or any quantity that fi he desires. In all situation elasticity     of demand is infinite i.e. Ed == o o in perfect competition market demand curve of a firm is perfectly elastic.

(b) Perfectly Inelastic demand - It is-Ay a situation where a change in price causes no change in the quantity demanded.                          T            

  • In fig. demand curve DD1 is parallel to y-axis. When price is Rs. 2 demand is for 4 units. When price rises to Rs.4 or to Rs. 6 the demand remains the same i.e. 4 units. Hence change in price evokes no response in demand Quantity (units and elasticity of demand is zero i.e. Ed=O


(c) Unitary elastic demand: A unitary elastic demand refers to a situation when change in quantity demanded in response to change in price of the commodity is such that total expenditure on the commodity remains constant.


For example: In this fig. when price fall from OP to OP, total expenditure on the commodity remains constant (area OBTP = area OCRP). And elasticity at point T = 1.


Production function: Production function is the relationship between physical inputs and physical output of a commodity. The value of output needs inputs. Land, labor and capital are well known common inputs for the production of goods and good services.

For example: 10 units of capital and 5 units of labour produced 100 units of the commodity.


Where \[{{Q}_{x}}\] = Production of commodity

L = Labor, K = Capital


  • Production function only establishes a technical relation between input and output. It does not establish any economic relation between input and output.

For example: The engineers tell us that 10 workers working on machines will yield the maximum output of 100 units of commodity.

Total product (TP): It is the sum total of output of each units of the variable factor used in the process of production. This is also called total return of the variable factor.


  • For example: If labor and capital are the variable and fixed factors respectively and if 6 units of labor are used and if their contribution to output is 10, 12, 15, 12, 10, 6 units respectively then

 TP = 10 + 12 + 15 + 12 + 10 + 6 = 65 units of the commodity.


Marginal product (MP): Marginal product is additional output attributed to an additional unit of the variable factor, other factors remaining constant.



Substitute Goods

When increase in the price of one good causes increase in demand for the other and decrease in the price of one causes decrease in the demand for the other. 

For example: Increase in the price of coffee is expected to cause increase in demand for tea.


Complementary Goods-

Complementary goods are those goods which complete the demand for each other. When a fall in the price of one causes increase in the demand of the other and a rise in the price of one causes decrease in the demand for the other.

For example—(i) when the price of fountain pen rises its demand will fall as a result demand for ink will also fall. (ii) When the price of milk rises its demand will fall as a result demand for sweet will also fall.


Normal goods.

Normal goods are those goods "which there is a positive relationship between income and demand, other things remaining constant, demand increases in response to increase in consumer's income and vice versa. Inferior goods

Inferior goods are those goods which there is negative relationship between income and demand. Other things remaining constant demand decreases in response to increase in income and vice versa.


Income effect

Income effect refers to change a quantity demanded when real income of the buyer changes as a result of change in price of the commodity

  • Income effect is positive when increase in income causes increase in demand. It occurs in case of normal goods. Income effect is negative when increase in income causes decreases in demand. It occurs in case of inferior goods.


Giffen goods

Giffen goods are those goods whose price effect is positive and income effect is negative-positive price effect means that demand falls with a fall in price and rise with a rise in price. The positive relationship between price and demand occurs because of a very high negative income effect.


Elasticity of demand:  

The elasticity of demand measures the responsiveness of the quantity demanded of a good, to change in its price, price of other goods an change in consumer's income.

  • Elasticity of demand is of three types;

(a) Price elasticity of demand

(b) Income elasticity of demand

(c) Cross elasticity of demand


Price elasticity of demand

Price elasticity of a demand is a measurement of percentage change in demand due to percentage change in own price of the commodity.

  • Methods of measuring price elasticity of demand—


(a) Percentage method: Under this method, elasticity of demand is measured by the ratio of proportionate change in quantity demanded to the proportionate change in price




(b) Total expenditure or Total outlay method: In this method one finds out that how much and in what direction total expenditure changes as a result of the change in price of a commodity. Total expenditure = Price x Demand situation

  • Elastic Demand \[{{M}_{p}}\]> 1
  • A Unitary elastic demand \[{{M}_{p}}=1\]
  • Less elastic demand \[{{M}_{p}}\]< 1

(c) Point Method: It measures elasticity of demand at different points on the demand curve. It is also called geometric method of elasticity of demand.


  • Elasticity of demand measures the percentage change in the price of commodity and its quantity demanded.

For example; When 40 units of commodity produced to using 5 unit of labor and 4 units of capital

\[40=f\left( {{5}_{L}},\text{ }4K \right)\]where L = labor, K = capital when output is increases from 40 to 45 units of commodity when use of labor increases from 5 to 6 units and k remains constant.

\[45=f\left( {{6}_{L}},\text{ }4K \right)\]

Here, addition output is caused by an additional unit of labor.


Average product (AP): Average product is physical output per unit of the variable factor used in the process of production. It can be calculated



For example: 40 units of commodity are produced when 5 units of the variable factor (Labor) are used.


  & 40=({{5}_{L,}}4k) \\

 & AP=\frac{TP}{L}=\frac{40}{5}=8\,\,Units \\



Relation between AP and MP

AP and MP relation are as follows:

(a) AP increases so long as MP > AP

(b) AP decreases when MP < AP

(c) AP is at its maximum when AP = MP

(d) MP may be zero or negative but AP continues to be positive.



Economics Concepts

Dada Bhai Naoroji

Drain Theory and Poverty

V. S. Minnas

Planning and the Poor

Gunnar Myrdal

An Enquiry into the Poverty of Nations


Critical Minimum Effort Theory

A. K. Sen.

Social Welfare and Collective Choice

Arthur Lewis

Unlimited Supplies of Labor Theory

W. W. Rostow      

The Stages of Economic Growth

Alfred o.Hirschman

Theory of Unbalanced Growth

Ragnar Nurkse     

Balanced Growth theory. Concept of Vicious Circle of Poverty, Theory of Disguised Unemployment


Adam Smith

BenefitApproach, Ability to Pay Approach


Arthur Laffer      

Supply Side Economics, Optimal Capital Income Taxation


James Tobbin      

Tobbin Tax

N. Keldar          

Expenditure Tax

Peter Pyhrr        

Zero Base Budgeting

Adolf Wagnor 

Theory of Expension of State Expenditure


Optimal Social Welfare Concept

A. P. Lerner        

Functional Finance


Tax Algorithm


Relation between MP and TP

MP and TP relation are as follows:

(a) When MP starts diminishing, TP increases only at a diminishing rate.

(b) When MP is increasing so long then TP is increasing at increasing rate.

(c) When MP = 0 there is no addition to TP. i.e. TP is maximum.

(d) When MP is negative TP starts declining.


Cost of production: Cost of production refers to expenditure incurred by a firm on the factor inputs (land, labor, capital and entrepreneurship as well as non-factor inputs (raw material) for the production of a commodity.

  • The functional relationship between cost and output is called cost function.

\[C=f\left( Q \right),\]Here C = Cost of production

Q = Quantum of output


Selling cost and production cost: Selling costs refer to the expenditure incurred by the producer in order to promote sale of the commodity expenditure on advertisement is example of selling costs Production costs refer to the expenditure incurred on the production of a commodity production costs include expenditure on factor input as well as non-factor inputs (raw material) used for the production of a commodity.

Fixed costs: Fixed costs are the sum total of expenditure incurred by the producer on the purchase or hiring of fixed factors of production. These are also called supplementary costs or overhead costs or indirect costs. These costs do not change with the change in output when out-put is zero fixed costs remain the same components of fixed costs—

  • Expenditure on land and building
  • Expenditure on machine and plant
  • License fee and related expenses
  • Wages and salaries of permanent staff


Variable costs: Variable costs are the expenditure incurred by the producer on the use of variable factors of production.

  • When output changes variable cost also change. When output increases these costs are also increases and when output decreases these costs are also decreases. When output is zero these costs are also zero

Variable costs includes following components:

  • Purchase of raw material
  • Wages of casual labor
  • Expenses on motive power or electricity
  • Wear and tear expenses


Average cost: Cost per unit of output is called Average cost.

\[AC=\frac{TC}{Q}\] Where TC = Total cost

Q = Quantity of output

Relation between Average and Marginal cost

  • When Average Cost is falling MC < AC
  • When Average Cost is rising MC > AC
  • When Average Cost is constant MC = AC


Revenue: The revenue of a firm is its sales receipts or money receipt from the sale of a product.

For example: Akash has a soap produce factory and 1000 soap produce daily. By selling these soap Akash get 2000 daily. The amount of 2000 is revenue


Revenue =  Cost + Profit


Total Revenue, Average Revenue Marginal Revenue

  • Total Revenue is total money receipts of a producer corresponding to a given level of output.

Total revenue = Output \[\times \] Price


For example: If 100 soap slab are sold at the rate of Rs. 50 per slab total revenue of firm will be

TR = 100 \[\times \] 50 = 5000


  • Marginal Revenue is the change in total revenue on account of the sale of one more unit of output.


           \[MR=\frac{Change\text{ }in\text{ }total\text{ }Re\text{ }venue}{Change\text{ }in\text{ }quantity\text{ }Sold}~~~~~\]

Marginal revenue is an additional revenue or sale of an additional unit of output and sum total of Marginal revenue for all the units of output should be equal to total Revenue.

For example When 5 units of output are produced then



  • Average Revenue is the per unit revenue received from the sale of a commodity. It is the same as the price of commodity.


  • When Total Revenue is increasing at constant rate Marginal Revenue should be constant.
  • When Total Revenue is diminishing rate. Marginal Revenue should be diminishing.
  • When Total Revenue is maximum then Marginal Revenue is zero.
  • When Total Revenue is diminishing then Marginal Revenue is negative.
  • When Average Revenue is constant then Marginal Revenue is equal to Average Revenue.


Supply: Supply of a commodity refers to a schedule showing various quantities of a commodity that the producers are willing to sell at different possible prices of the commodity at a point of time.


Individual Supply and Market Supply

Individual Supply refers to supply of a Commodity by an individual firm in the market. Market supply refers to supply of a commodity by all the firms in the market.

For example; when a firm is willing to sell 200 units of a commodity at a given price and B firm is willing to sell 300 units if the only A and B firms producing the particular commodity then market supply will be 500 units.


Supply curve: Supply curve is a graphic presentation of supply schedule indicating positive relationship between price of a commodity and its quantity supplied. Supply Curve



(a) Individual Supply Curve: It is a graphic presentation of supply schedule of an individual firm in the market when slope is upward I indicates positive relationship between price of a commodity and its quantity supplied.


(b) Market Supply Curve: Market Supply curve is a horizontal summation of the individual supply curves of the various firm producing a particular commodity in the market.


Law of Supply: The law of supply states that other things remaining constant, quantity supplied of a commodity increases with increase in the price and decreases with a fall in its price


Exception to the law of Supply

(a) The law of supply does not apply strictly to agricultural products whose supply is governed by natural factors.

(b) Supply of goods having social distinction will remain limited even if their price tends to rise.

(c) Sellers may be willing to sell more units of a perishable commodity at a lower price.


Market: Market refers to a mechanism or an arrangement that facilitates contact between the buyers and sellers for the sale and purchase of goods and services.


Perfect competition: Perfect competition is a form of the market where there is a large number of buyers and sellers of a commodity. Homogenous product is sold with no control over price by an individual firm.


Features of perfect competition

(a) Homogenous product

(b) Free entry and exit of firms

(c) Large number of buyers and sellers

(d) Independent decision making

(e) Perfect knowledge

  • A firm under perfect competition is a price taker not a price maker. And demand curve of the firm under perfect competition is perfectly elastic.


Monopoly: Monopoly is a form of the market in which there is a single seller or producer of a commodity. There are no close Substitutes of the monopoly product and there are legal, technical or natural barriers to the entry of new firms in the monopoly market. A monopolist has complete control over price and can also practice price discrimination.


Features of Monopoly

(a) Restrictions on the entry of new firms

(b) One seller and large number of buyers

(c) Price discrimination

(d) Full control over price

(e) No close substitute


For example: Railways in India are a monopoly industry of the government of India. Since there is only one producer of a product in the market.


Patent rights: Patent rights is the official recognition of the originators innovators of new product or technology. Nobody can copy their product or technology without obtaining a license.


Cartels: Cartel refers to collective decision making by a group of firms of the market competing firms may reach a broad agreement on the pricing and output policy so that competition is avoided and a sort of joint monopoly structure of the market emerges.

  • When greater the monopoly power in any market lesser is the output and higher is the price. Hence people get less output and have to pay high price under monopoly


Monopolistic competition: It is a form of the market in which there are many sellers of the product, but the product of each seller is somewhat different from that of the other.

Example (a) Firm producing different brands of toothpastes as Colgate, Close-up, Pepsodent etc. (b) When firm producing different brands of soaps as Lux, Pears, Nirma, Lifebuoy etc.

  • Monopolistic competition combines the features of monopoly and perfect competition.

Features of Monopolistic Competition

(a) Freedom of entry and exist of firms

(b) Large number of buyers and sellers

(c) Non-price competition

(d) Product differentiation

(e) Lack of perfect knowledge

(e) Selling costs and less mobility of goods and services.


Oligopoly: It is a form of the market in which there is a few big sellers of a commodity and a large number of buyers.

  • In oligopoly there is a high degree of interdependence among the sellers regarding their price and output policy. Because there are only a few sellers, price and output decision of one seller significantly impacts the price and output decision of other sellers in the market.


  • For example: (a) there are only a few auto producers in the India market. These are Marti, Tata, Fiat, Ford and GM.

(b) There are only a few watch producer in the Indian market. Titan, hmt and Maxima are well known brand.


Features of Oligopoly

(a) Large number of buyers and few sellers

(b) Few firms are produce particular product

(c) High degree of interdependence


  • In a perfectly competition market commodity must be homogeneous while in monopolistic competition the commodity is always differentiated.
  • In perfect competition buyers and sellers have perfect knowledge of the market. But in other forms of the market there is imperfect knowledge of the market


Price ceiling: Price ceiling means maximum price of a commodity that the sellers can charge from the buyers. Often the government fixes this price much below market price of a commodity so that is become within the reach of the poorer section of the society.


Price floor: Price floor means the minimum price fixed by the government for a commodity in the market. Floor means the lowest limit.


Bilateral monopoly; A market with a single seller and a single buyer is called bilateral monopoly. In this type of market, price is determined by the collective bargaining between the buyer and the seller.


Monopsony: It is a complementary form of monopoly. In this market form there is one buyer and a large number of sellers. Other conditions are the same as under monopoly. If the sellers sell differentiated products the market is called monopolistic competition.


Oligopoly:  It is the complementary form of oligopoly. In an oligopoly market there are a few buyers and a large number of seller’s other conditions remaining the same as under oligopoly.

Break even analysis it is a system of analysis -which determines the probable profits at any level of production. It established the relationship of costs, volume and profits, so this analysis is also known as cost volume profit analysis. This analysis find out the level of activity where the total cost equals total selling price. Breakeven point It is a point where there is no profit and no loss. According to Charles T. Horngerm "Breakeven point is that point of activity where total revenues and total expenses are equal. It is the point of zero profit and zero loss.


  & \mathrm{Break}\,\mathrm{Even}\,\mathrm{Point}\,\mathrm{(In}\,\mathrm{Units)=}\frac{\mathrm{Tatal}\,\mathrm{fixed}\,\mathrm{Exepenses}}{\begin{align}

  & \mathrm{selling}\,\mathrm{cost}\,\mathrm{per}\,\,\mathrm{Unit-Marginal}\,\mathrm{cost}\,\mathrm{per}\,\mathrm{Unit} \\

 & \, \\

\end{align}} \\

 & \mathrm{Break}\,\mathrm{Even}\,\mathrm{Point(In}\,\mathrm{sales)= }\frac{\mathrm{Fixed}\,\mathrm{Cost}\,\mathrm{X selling}\,\mathrm{price}}{\mathrm{Selling}\,\mathrm{Price-Verieable}\,\mathrm{cost}} \\


Consumption function: The amount of money spent by the people on the purchase of goods and services in order to satisfy their wants directly is called consumption expenditure.

  • For example: Let, the total income in an economy is Rs. 6000 core out of which 5000 core is spent on the purchase of consumption goods and services. It implies that consumption expenditure is Rs. 5000 core in the economy.
  • Consumption expenditure mainly depends on income. Relation between consumption and income is called consumption function.


Propensity to consume: A schedule showing various amounts of consumption which correspond to different levels of income is known as propensity to consume.

  • It has two aspects— (a) Average propensity to consume (APC)

  (b) Marginal propensity to consume (MPC)

  • The average propensity to consume is the ratio of consumption expenditure to any particular level of income.


                        Marginal propensity to consume is the ratio of a change in consumption to a change in income.


Full employment: Full employment is a situation in which everyone who wants to work is working except for those who are frictionally and structurally unemployed.

  • Full employment does not mean a situation of zero unemployment. It I a situation in which there does not exist natural rate of unemployment.


Frictional unemployment: Frictional unemployment is the unemployment associated with the changing of jobs in dynamic economy. It creates due to immobility of labor, shortage of raw material, lack of information regarding opportunities of employment, shortage of power, wear and tear of machines search of remunerative job.

Structural Unemployment: Structural unemployment is the unemployment that results from the long term decline of certain industries.


Voluntary Unemploymerit: Voluntary unemployment refers to the situation when a person is unemployed because he is not willing to work at the existing wage rate even when work is available.

For example: If the market wage rate for software engineer's job the hospital is Rs. 10,000 a month but some of the qualified software engineer refuse to accept job at 10000 a month they will be considered as voluntarily unemployed. Involuntary unemployment: Involuntary unemployment is a situation in which people are able to work and willing to work at existing rate of wages but do not get work.

  • In this unemployment persons are willing to work at the prevailing rate of wages but jobs are not available in the market.

Investment Multiplier: Investment multiplier refers to the factor by which output/income increases because of increase in investment. It is measured as the ratio between increase in output/income and increase in investment.


\[\mathrm{M=}\frac{\mathrm{ }\!\!\Delta\!\!\text{ Y}}{\mathrm{ }\!\!\Delta\!\!\text{ I}}\]      Where K == Multiplier

Y = Increase in output / income

Y = Increase in investment

  • Higher the value of marginal propensity to consume than higher the Multiplier.


Inflationary Gap: Inflationary gap is excess of aggregate demand over and above its level required to maintain full employment equilibrium in the economy.

  • Inflationary pressure is proportionate to excess demand. When greater the excess demand than greater the inflationary pressure.


Fiscal policy: Fiscal policy refers to budgetary policy of the government to combat the situations of excess and deficient demand in the economy. Components of Fiscal policy are as follows:


(a) Government Expenditure: Government Expenditure is the principal component of fiscal policy. The government of a country incurs various types of expenditure—

* Expenditure on public work programmers, education and welfare Programmed, defense of the country and the maintenance of law, various types of subsidies to the producers etc.


(b) Faxes. Taxes are a compulsory payment made to government by the household and the producing sectors. By increasing the tax burden on the households and the producers the government reduces purchasing power in the economy. And by lowering the tax burden the government increases the purchasing power.


(c) Public Debt when the government borrow from the public that creates public debt. In a situation of deficient demand the government reduces its borrowing from the public and the situation excess demand, the government steps up public borrowing by offering attractive rate of interest.


(d) Deficit Financing   Deficit financing means borrowing by the government from the RBI. The RBI lends money to the government by issuing more currency. Additional currency causes additional purchasing power in the economy Wages means the earning of people. It perceived by workers’ wages constitute the core element in income for the majority of active people.

  • Wage fund theory was proposed by J.S. Mill. It assumed that the supply of labor at any moment of time is fixed and the demand consisted of a fixed sum determined by the intentions of the capitalist employers.

Price mechanism: Price mechanism is a term used to describe the means by which the many millions of decisions taken each day by consumers and businesses interact to determine the allocation of scarce resources between competing users. It is a feature of mixed economy.


Economic Planning

  • Economic Planning is the process in which the limited natural resources are used skillfully so as to achieve the desired goals. The concept of Economic Planning in India, is derived from Russia (the then USSR).
  • Planning' in India derives its objectives and social premises from the Directive Principles of State Policy enshrined in the Constitution.


Five year plan


Target growth rate GDP IN(%age)




First Plan




Herold domer Model

Second Plan





Third Plan




Sukhmoy chakerbarti and Prof.saddy

Fourth Plan




Ashok Rudra and Alon S.Manney


 Fifth Plan




Alike Fourth Five-Year Plan/

Which is called "Investment Model of Planning Commission".

Sixth Plan





Based on Investment Yojana,

Infrastructural changing and trend to growth model


Seventh Plan




Alike Sixth Five-Year plan prepared © Pranav


Eighth Plan





John W. Miller Model

Ninth Plan




Created by 'Planning

Tenth Plan





Eleventh Plan




Prepared by Prof. C


12th  Plan






  • In the year 1934, the proposal relating to economic planning came for the first time in the book of Vishveshwaraiya titled "Planned Economy for India". Thereafter in 1938, the All India Congress Committee demanded for the same. In 1944 efforts were made by 8 industrialist under "Bombay Plan".
  • Thereafter, in the same year, 'Gandhian Plan" by Mr. Mannarayan, in April, 1944 the 'People's Plan' by labour leader M.N. Roy and in January 30, 1950 the 'Sarvodaya Plan' by Mr. Jai Prakash Narayan were presented.
  • After independence, in 1947, the committee on economic planning was constituted under the chairmanship of Jawaharlal Nehru. Thereafter, on the recommendation of this committee. Planning Commission was constituted in March, 1950 and the format of first Five Year Plan was prepared in 1951.
  • The Planning Commission was constituted in India in 1950 as a non- constitutional and advisory corporation. The Indian Constitution did not provide for the formation of Planning Commission.
  • The basic aim of economic planning in India is to bring about rapid economic growth through development of agriculture, industry, power, transport and communications and all other sectors of the economy.
  • In India, 10 Five Year-Plans have been implemented so far. The target and achievements of these plans are given in the following table Source Planning Commission, Ninth Five Year Plan (1997-2002), Vol. land Tenth Five Year Plan (2002-07) etc.
  • In addition to this, six yearly plans were also made. These yearly plans were made for the years 1966-67 to 1968-69, 1978 -1980 and from 1990-91 to 1991-92. The plan for the year 1978-79 was continuously implemented.


First Five-Year Plan (1951-1956)

  • First five year-plan was based on the "Herold-Domar Model".
  • The aim of this plan was to start process of balanced development of economy. Agriculture was on top priority in this plan.
  • The First Plan emphasized, as its immediate objectives the rehabilitation of refugees, rapid agricultural development so as to achieve food self-sufficiency in the shortest possible time and control of inflation.
  • This plan was successful and achieved the growth rate of 3.6%, which was more than its aim.
  • During this plan there was increase of 18% in national income and 11% in per capita income.


Second Five-Year Plan (1956-1961)

  • This plan was based on the P.C. Mahalanobis model.
  • To establish socialist order, derived from Soviet model, the Second Plan aimed at rapid industrialization with particular emphasis on the development of basic and heavy industries.
  • In this plan. Industries and Minerals were on top priority and 20.1% of total outlay was allocated for this sector.
  • Second priority was given to Transport and Communication for which 27% of total plan outlay was allocated.
  • This plan was also successful and it achieved 4.1% rate of growth.
  • Various important large industries like Steel Plant at Durgapur, Bhilai and Rourkela were established during this plan.


Third Five-Year Plan (1961-1966)

  • The aim of this plan was to make the economy independent and to reach self-active take off position. This plan is also called "Gadgil Yojana/'
  • This plan could not achieve its aim of 5.6% growth rate.
  • In this plan, agriculture and industry both were on its priority.
  • The main reason of failure of this plan was Indo-China war, Indo- Pakistan war and unprecedented drought.
  • A growing trade deficit and mounting debt obligation led to more and more borrowings from the International Monetary Fund. The rupee was devalued in June 1966 to little success as it soon turned out.


Plan Holiday (From 1966-1967 to 1968-1969)

  • The miserable failure of the Third Plan forced the Government to declare plan holiday7. Three Annual Plans were drawn in this intervening period. The economy faced another year of drought during 1966-67.
  • During this period three separate plans were prepared.
  • Equal priority were given to agriculture, its allied sectors and the industry sector.
  • The main reason of plan holiday was Indo-Pakistan war, lack of resource and increase in price-level. Economics


Fourth Five-'year Plan (1969-74)

  • The two main objectives of this plan were 'growth with stability a 'progressive achievement of self-reliance'.
  • In this plan 'Establishment of socialist order7 was specially aimed.
  • Growth with justice' and 'Garibi Hatao' (Removal of poverty) were the main objectives of this plan.
  • This plan failed to achieve its aim and it achieved only 3, 3% annual rate of growth as against its aim of 5.7%.
  • The shortfall during this plan was due to the adversity of climate and arrival of refugees from Bangladesh.


Fifth Five Year Plan (1974-79)

  • The Fifth Plan draft as originally drawn up was part of a long term Perspective Plan covering a period of 10 years from 1974-75 to 1985-86,
  • The two main objectives of this plan were poverty eradication and attainment of self-reliance.
  • During the plan, initially, the growth rate target was fixed at 5.5. %, however, it was amended to 4.4% later on.
  • Top priority was given to agriculture, next came industry and mines.
  • Originally the approach paper of the Fifth Plan was prepared under C. Subramanian in 1972, but final draft of the Plan was prepared and launched by D.P. Dh?
  • This plan was generally successful. However there was no significant decline in poverty and unemployment.
  • This plan, which was started by the then ruling Ajanta Government was later terminated in the year 1978


Rolling Plan (1978-1980)


  • The new pattern started by Ajanta Government, which meant that ever year performance of the plan would be assessed and a new plan based on such assessment be made for the subsequent year.


  • The rolling plan started with an annual plan for 1978-79 and as a continuation of the terminated Fifth Plan.


Sixth Five-Year Flan. (1980-1985)

  • The Janata Government originally introduced this plan for the period 1978-83, but later a new Sixth Plan replaced it, for the period 1980-85.


  • The basic objective of the Sixth Plan was removal of poverty. The plan aimed at achieving economic and technological self-reliance, reducing poverty, generating employment and improving the quality of life of the poorest through the Minimum Needs Program etc.


  • During this period the Indian economy made all round progress and most of the targets fixed by the Planning Commission were realized, though during the last year of the plan (1984-85) many parts of the country faced severe drought conditions.


  • The target growth rate, in this plan, was fixed at 5.2% and it achieved successfully 5.7% of annual rate of growth.


  • In this plan, important programmers like Integrated Rural Development Programed (TRDP), Minimum Needs Program (MNP) were started.


Seventh Five-Year Plan (1985-1990)

  • The objectives of this plan include establishment of self-sufficient economy, creation of more opportunities for productive employment, slowing down the rate of population growth, to provide people with adequate nutrition and energy and environmental protection. But main aim of the plan was to increase production in all sectors and to generate opportunities for employment.
  • There was increase in per capita income at the rate of 3.6% per annum.
  • In this plan, for the first time private sector was given priority in comparison to public sector.
  • In this plan, employment generating programmes like Jawahar Rozgar Yojana were started.
  • One of the major -worries during this period was widening gap between the income and expenditure of the Government, which led to mounting Fiscal deficit.


Annual Plans

The Eighth Five-Year Plan (1990-95) could not take off due to the fast changing political situation at the Centre. The new government, which assumed power at the Centre in June 1991, decided that the Eight Five-Year Plan would commence on April 1, 1992 and that 1990-91 and 1991-92 should be treated as separate Annual Plans. Formulated within the framework of the Approach to the Eighth Five-Year Plan (1990-95), the basic thrust of these Annual Plans was on maximization of employment and social transformation.


Eighth Five-Year Plan (1992-1997)

  • The fourth version of the Eighth Plan (1992-97) was approved at a time the country was going through a severe economic crisis, a rising debt burden, ever-widening budget deficits, mounting inflation and recession in industry.
  • The P.V. Narasimha Rao Government initiated the process of fiscal reforms as also economic reforms.
  • In this plan the utmost priority was given to "Development of Human Resources" i.e. Employment, Education and Public Health. In addition to this, the important aim made in this plan was to strengthen the basic infrastructure by the end of the decade.
  • This plan was successful and got 6.8% annual rate of growth, which was more than its target of 5.6%.
  • During this period, Pradhan Mantri Rozgar Yojana (PMRY) was started in the year 1993.


Ninth Five-Year Plan (1997-2002)

  • The Ninth Plan was launched in the fiftieth (50th) year of India's Independence.
  • Planning Commission released the draft Ninth Plan document on March 1, 1998. The focus of the plan is "Growth with Social Justice and Equity".
  • It assigned the priority to agriculture and rural development with a of poverty. However, the plan failed to achieve the GDP growth target of 7% and realized only 5.35% average GDP growth.
  • The recession in international economy was held responsible for the failure of ninth plan.


Tenth Five Year Plan (2002-07)


  • In the Tenth five-year plan, it had been proposed to eradicate poverty and unemployment and to double the per capita income in next 10 years.
  • The Tenth Plan has indicated that the current backlog of unemployment is around 35 million persons, i.e. 9% of the labor force.
  • The Tenth Plan was expected to follow a regional approach rather than sectorial approach to bring down regional inequalities.


Some creditable achievements of the 10th Plan:

  • Gross domestic savings (as percent of GDP at market prices) average 28.2% in 10th Plan as against 23.1% in the 9th Plan.
  • India's foreign exchange reserves reached a level of US $ 185 billion February 2007.
  • Though the 10th Plan could not achieve its target of 8% growth of GDP but has taken the economy to a higher trajectory of growth rate at 7.6% as against 5.5% in the 9th Plan.
  • Foreign investment flows were of the order of US 7 billion in the form of Foreign Direct Investment (FDI) and US  29.1 billion, FDI accounted for $ 22.1 billion (i.e. 76% of total).


Eleventh Five Year Flan (2007-2012)

  • The National Development Council (NDC), country's highest policy making body, endorsed the 11nth Plan document on 19th December, 2007.
  • It envisages an average 9% GDP growth in the first four years to end the five-year period with a growth of 10% during the terminal year 2011-12.
  • Earlier 7.6% growth rate in the 10th Plan and 5.52% in the 9th Plan was achieved. .
  • Total Plan expenditure for the 11th Plan period (2007-12) has been proposed to the tune of Rs. 36, 44,718 core, which is more than the double of the Plan expenditure of the 10th Plan.
  • Of the total Plan expenditure fixed for the 11 th Plan, Centers share would be Rs. 21, 56,571 core whereas the share of the States would be to the tune of Rs. 14, 88,147 core.
  • Gross Budgetary Support (GBS) for the Plan expenditure of 2007- 12 has been fixed to Rs. 14, 21,711 core, where as it was Rs. 8, 10, 400 core for the 10th Plan.



  • There is a considerable rise in Net Domestic product. Savings and Investment.
  • India has achieved self - Sufficiency in almost all basic and capital good industries and consumer goods industries.
  • Self Sufficiency in food grain product is achieved.
  • There is a good deal of diversification in industrial structure.
  • The plains have created significant infrastructure particularly in the fields of transport, irrigation and telecommunication.
  • There has been tremendous development of educational sector and there has been a significant growth in trained Scientific and technical



  • In spite of planning poverty exists
  • Unemployment has risen
  • Inequalities of income have not been reduced
  • There is unequal land ownership, land reforms are inadequately implemented.


12th Five year plan                                                  

  • The main goal of the 12th plan would be faster. Sustainable and more inclusive growth.                                
  • Average growth target has been set at 8.2%.
  • Areas of main thrust are infrastructure, health and education.
  • Growth rate has been lowered to 8.2% from the 9.0% projected earlier in view adverse domestic and global situation.
  • The 12th plan Seeks to achieve 4% agriculture sector growth during the five year period.                                
  • The growth target for manufacturing sector has been pegged at 10%. !
  • On the poverty alleviation, the Commission plans to bring down the poverty ratio by 10%. At present the poverty is around 30% of the population.
  • The outlay on health would include increased spending in related areas of drinking water and sanitation.


Niti Aayog

The Niti Aayog will replace the planning commission will be responsible for formulating what the government described as a Bhartiya approach to development. The new organization Niti stands for National Institution for Transforming India is being seen as a think tank that will foster cooperative federalism' rather than take a top down approach. Niti Aayog will aim to accomplish the following objectives and opportunities—

  • An administration paradigm in which the government is an "enabled rather than a "provide of first and last resort.'
  • Progress from/ food security' to focus on a mix of agricultural production as well as actual returns that farmers get from their produce.
  • Ensure that the economically vibrant middle class remains engaged, and its potential is fully realized.
  • Leverage India's pool of entrepreneurial, scientific and intellectual human capital.
  • Incorporate the significant geo-economic and geo-political strength of the Non-Resident Indian community.
  • Use technology to reduce capacity and potential for misadventures in


Types of planning


Imperative Planning in this type of planning the Central Planning authority decides upon every aspect of the economy and the targets set and the processes delineated to achieve them are to be strictly followed. This type of planning is mainly practiced in the socialist economies


 Indicative planning in this type of planning the State sets broad parameters and goals for the economy. It is different from centralized planning as unlike in the latter, the State does not see Plan targets to the minutest details, but only broadly indicates the targets to be achieved. It was adopted in our country since the 8th Five-Year Plan, as practiced in many developed countries.


Perspective planning:  it is a type of planning for a long period of time, usually 15-20 years. As a highly specialized task, it is operationalized through the Five Year and Annual Plans. In such form of planning, the planners formulate a perspective Plan that broadly defines the direction desired to be taken by the economy.


Rolling Planning:  Under the scheme of rolling Plans, there are three different steps. First, a plan for the current year which includes the annual budget Second, a plan for a fixed number of years, say three, four or five. It is revised every year as per the requirements of the economy. Third, a perspective plan for 10, 15 or 20 years.


Core Plan: as per this concept, the Planning Commission asks the states to submit their projected revenue estimates. On the basis of these estimates, Planning Commission determines the expenditure heads for State Annual Plans. This helps in keeping the Plan target to realistic limits and prevents non-plan account. The concept of 'Core Plan' has emerged recently.


  1. Unemployment


  • In common parlance anybody who is not gainfully employed in any productive activity is called unemployed. However, it can be of two kinds (i) voluntary unemployed and (ii) involuntary unemployed. Her we are concerned with the second category of unemployed persons.


  • Hence, unemployment can be defined as a situation when persons able and -willing to work are seeking jobs at the prevailing wage level but they are unable to get the same.


  • Unemployment in developing economies like India is not the result of deficiency of effective demand in the Keynesian sense, but a consequence of shortage of capital equipment or other complementary resources.


  • In India unemployment is structural in nature due to lack of productive capacity and resources.


Types of Unemployment


(i)         Cyclical unemployment: n is the result of depression in an economy.

(ii)        Frictional unemployment: This kind of unemployment is temporary. It is the result of a situation when new industries drive out old ones and workers change over to better jobs.                                                             

(iii)       Open unemployment: It refers to those who have no work to do even though they are able and willing to do work.

(iv)       Seasonal unemployment: This occurs at certain period of the work when work load is comparatively less, and hence people are rendered jobless. For example, in the period between past harvest and next sowing, agricultural laborers are unemployed.

(v)        Educated unemployed: this is mainly found in urban areas. Those educated persons who are unable to get work come under this category.                                                           

(vi)       Under—employment (Disguised unemployment): It results when a person contributes to production less than what he or she is capable of, for example, an engineer -working as a clerk is under-employed.

(vii)      Compulsory unemployment: It means the labour power which is ready to work on the current rate but does not get the work.

(viii)     Seasonal unemployment: It means the unemployment of the farmers and farm labourers during non-crop seasons.

  • During Ninth Plan, total 3.6 core fresh unemployed began to look for employment.
  • The Planning Commission collects data of unemployment on the basis of "Lakadawala Formula' effective from 11th March, 1997 and prior to this the process to collect data was on the basis of surveys of National Sample Survey Organization (NASO).
  • In 8th Plan, the aim was to create 1 core employment. During Ninth Plan the additional requirement of work opportunities w approximately 5 core 30 lakhs.
  • In India, the data relating to unemployment are collected by National Sample Survey Organization (NASO). This Organization has the following concepts with regard to unemployment:


(1)        General status of unemployment: In this category, generally, those unemployed for more than one year are included. As such it is a long-term unemployment.


(2)        Weekly-unemployment: The persons who have not got work for even one hour in a week are included in this category.


(3)        Daily unemployed merit; it is considered the best concept of unemployment.

  • The main reasons for unemployment in India are slow economic development, population explosion, outdated technique, improper education system and limited effect of government planning.


Development and employment programmers at a glance

Program /plan Institution

Year of Beginning

Objective Description


Community development Program (CDP)


Over all development of rural area with people participation


Intensive Agriculture Development program (IADP)


To provide loan seeds fertilizer tools to the former


Intensive Agriculture Area


Develop the special harvests. Programme (IAAP)


High Yielding Variety Program


To increase productivity of food

ammo (HYVP) grains by adopting latest varieties of inputs for crops


Indian Tourism Development Oct


To arrange for the construction of

Corporation (ITDC) Hotels and Guest houses at various Places of the country.


Green Revolution          


To increase the food grains, spec tally wheat production (Credit goes to Dr. M.S. Swami Nathan in India and Nobel laureate Dr. Norman Borlaug in the world).


Nationalization of 14 Banks

19 July 1969

To provide loans for agriculture rural development and other Priority sectors.


Employment Guarantee


To assist the economically weaker

Scheme of Maharashtra               sections of the rural society.


Accelerated Rural Water Supply Programed (ARWSP)          


For providing drinking water in the villages.


Small Farmer Development


For technical and financial assistance

Agency (SFDA)  to small farmers


Command Area Development Programme (CADP


To ensure better and rapid utilization of irrigation capacities of medium and large projects.


Twenty Point Programme   (TPP)                              

12. 1975  

Poverty eradication and raising the

Standard of living.


National Institution of Rural   Development (NIRD)               

13 1977  

Training, investigation and

Advisory organization for rural development.


Desert Development Programme (DDP)                      


For controlling the desert expansion

and maintaining environmental



Food for Work Programed(FWP)                             


Providing food grains to labor for

The works of development.


Antyodaya Yojana          


To make the poorest families of the `Village economically independent (only in Rajasthan State).


Training Rural Youth for Self Employment (TRYSEM)       

August 151979

Programed of training rural youth for self-employment.


Integrated Rural Development Programed (IRDP)  

OCT.2 1980

All-round development of the rural poor through a programmed of asset endowment for elf employment


National Rural Employ-mint Programed (NREP)                 


19      To provide profitable employment Opportunities to the rural poor.


Development of Women and Children in Rural Areas(DWCRA)                            


To provide suitable opportunities

of self-employment to the women

belonging to the rural families who

Are living below the poverty line.


Rural Landless Employment Guarantee Programme    (RLEGP)


For providing employment to landless farmers and laborers.



Self-Employment Educated Unemployed Youth     (SEEUY)


To provide financial and technical assistance for self-employment.


Farmer Agriculture Service Centre's (FASCs


To popularize the use of improved agricultural instruments and tool kits.


24 National Fund for Rural Development (NFRD)        

Febauary 1984

To grant 100% tax rebate to donors and also to provide financial assistance For rural development projects.


Industrial Reconstruction Bank of India       

Marh          1985  

To provide financial assistance to

sick and closed industrial units for

Their reconstruction.


Comprehensive Crop Insurance Scheme          

April 1985  

For insurance of agricultural



Council for Advancement Technology (CAPART) (H.Q.-

New Delhi)

Sep 1986

To provide assistance for rural

of People's Action and Rural   6   prosperity


Self-Employment Program(SEPUP

Sep. 1986

To provide self-employment for the Urban Poor urban poor through provision of subsidy and bank credit


Formation of Securities and Exchange Board of India         

April  1988

To safeguard the interest of investors in capital market and to regulate

Share market.


Jawaharlal Rozgar Yojana 


For providing employment to rural



Nehru Rozgar Yojana      

October 1989

For providing employment to urban   unemployed.


Agriculture and Rural Debt   Relief Scheme (AR0RS)            


To exempt bank loans upt

Rs.10, 000 of rural arasans and To assist the urban33.


Scheme of Urban micro Enterprise (SUME)


To assist the urban poor people for small Enterprise


Scheme of Urban Wage Employment (SUWE) 


To provide wages employment after   arranging the basic facilities for poorpeople in the urban areas where

Population is less than one lakh.


Scheme of Housing and Shelter Up gradation  (SHASU) 


To provide employment by means

Of shelter up gradation in the urn                       areas where population is between 1 to 20 lakh.


Supply of Improved Toolkits to Rural Artisans                    

July 1992

To supply modem toolkits to the rural craftsmen except the weavers,

tailors, embroiders and tobacco

laborers who are living below the

Poverty line.


Employment Assurance Scheme (EAS)


To provide employment of at least 100 year in villages.


October Members of Parliament Local Area Development Scheme(MPLADS)

23 DEC.


To sanction Rs. 5 core per year to

Member of Parliament for  various development works in their respective areas through DM of the



District Rural Development  Agency (DRDA)                      


To provide financial assistance for development.


Mahila Samridhi Yojana   



To encourage the rural women  to deposit in Post Office Savings



Child Labor Eradication August Scheme


To shift child labor from hazardous

Industries to schools.


Prime Minister's Integrated Urban Poverty Eradication Programed (PMIUPEP)             


November To attack urban poverty in an integrated manner in 345 towns having population between 50,000 To 1 lakh.


Group Life Insurance Scheme in Rural Areas                      


To provide insurance facilities to

rural people on low premium


National Social Assistance   Programme    


To assist people living below the        poverty line.


Ganga Kalyan Yojana       


To provide financial assistance

to farmers for exploring and

developing ground and surface

Water resources.



Kasturba Gandhi Education Scheme  

August 15, 1997

To establish girls schools in districts

 having low female literacy rate


Swarna Jayanti Shahari Rozgar Yojana (SJSRY)       


 To provide gainful employment  

To urban unemployed and under 

Employed poor through self-employment or wage employment.    


Bhagya Shree Bal Kalyan Policy 

OCT,19 1998

To uplift the girls7 conditions


Rajrajeshwari Mahila Kalyan Yolanda (RMKY)            

Oct. 19


To provide insurance protection to women.                       


Annapurna Yolanda Swarna Jayanti Gram

March 1999

To provide 10 kg. fooains to senior 

  Citizens (who do not get pension).      


Swarn jayanti Gram swarojgar Yojan



For eliminating rural poverty and unemployment and promoting self-    Employment.


Jawahar Gram Samridhi Yojana (JGSY)                      

April 1999

Creation of demand driven community village infrastructure.         


Jan Shree Bima Yojana      

Aug. 10,2000  

Providing Insurance Security to people living below the poverty   line.


Pradhan Mantri Gramodaya   Yojana  


To fulfill basic requirements in rural                            areas.                             


Antyodaya Anna Yojana   

Dec. 25, 2000  

To provide food security to the poor.


Ashraya Bima Yojana     

June 2001

To provide compensation to

laborers who have lost their



Pradhan Mantri Gram Sadak Yojana (PMGSY)            

Dec. 25 2000

To line all villages with pucca road



Khetihar Mazdoor Bima Yojana


Insurance of Landless Agricultu                       workers.


Shiksha Sahyog Yojana    


Deacon for Children below Poverty Line.


Sampurna Garmin Rojgar Yojana


Sept. 25, 2001

Providing employment and food                               security to rural people


Jai Prakash Narain Rojgar'Guarantee


Proposed Employment Guarantee in most



Swajal dhara Yojana


Started in December 2002 for ensuring drinking water Supply to all villege by 2004


Hariyali Party ojana           

January 17, 2003

Inaugurated on 2003 by the

Prime Minister. It aims at tackling the problems of irrigation and drinking water, along with boosting tree plantation programmed and fisheries developments in rural areas


Social Security Pilot Scheme 

Jan. 23, 2004 

Scheme for laborers of unorganized

sector for providing family pension,

Insurance and medical.


Vande Matram Scheme      

Feb. 92004

Major initiative in public-private

partnership during pregnancy



National Food for Work Programme


Inaugurated by the Prime Minister on November 14, 2004. This programme is to be implemented initially in 150 Districts of the country. It aims at providing 100 days' employment in a year to all able bodied unemployed Rural folk.


Janani Suraksha Yojana

April 12, 2005  

Takes the place of National Maternity Benefit Scheme. It will be a part of The National Rural Health Mission (NRHM).


Bharat Nirman Yojana      

Dec. 16


Development of Rural infrastructure

including six components :

Irrigation, Water supply. Housing,

Road, Telephone and Electricity.


National Rural Employment

Feb. 2, 

2006 69The provisions are the same as for Guarantee Programed   food for work programmed. The (NREGP) scheme was enforced in 200 districts Of the country to begin with. To provide at least 100 days wages employment in rural areas in a Year. The scheme is 100% centrally Sponsored..


Bharat Nirman Yojana:

  • The Union Government launched a new comprehensive scheme, named 'Bharat Nirman Yojana-' on December 16, 2005.
  • This scheme aims at developing rural infrastructure.
  • The duration of implementing this scheme has been fixed for four years with an expected expenditure of Rs. 174000 core.
  • The major six sectors and their targets for next four years are:


  • Irrigation: To ensure irrigation for additional one core hectare of land by 2009.


  • Roads: To link all villages of 1000 population with main roads and also to link all ST and hilly villages’ up to 500 population with roads. Ho ii sing Construction of 60 lakh additional houses for the poor.


  • Water supply to ensure drinking water to all remaining 74000 villages.


  • Electrification: To supply electricity to all remaining 1, 25,000 villages and to provide electricity connections to 2.3 core houses.


  • Rural Communication: in to provide telephone facility to all remaining 66,822 villages.


Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA)

  • The National Rural Employment Guarantee Bill was passed by Parliament on September 7, 2005. It secured Presidential assent later in 2005 itself and became an Act.
  • The Act provides for at least 100 days of employment to one able bodied person in every rural household every year.
  • The wages admissible are around Rs. 120 per day.
  • The Act (NREGA) came into force from Feb. 2, 2006. Initially 200 districts have been selected for the enforcement of the scheme.
  • Works under the NREGA generated 90 crore (nearly one billion) person days of employment in 2006-07, at a cost of about Rs. 9,000 crore.
  • The Government has extended the NREGA to all 604 districts of the country, with a total budget outlay of Rs. 16,000 crore for the extended scheme for 2008-09 (April 1, 2008).                               


Note: The Govt. of lndia, October! 2009 renamed the NREGA as the Mahatma Gandhi National Rural Employment guarantee Act (MNREGA).


Swachchh Bharat Abhiyan

Swachchh Bharat Abhiyan is a clean India drive and mission launched as a national campaign by the Indian government in order to covering the 4041 statutory towns aiming maintained cleanliness of streets, roads and infrastructure of the country. Prime Minister Narendra Modi has officially launched this mission on 2nd of October (The birth anniversary of Mahatma Gandhi) in 2014 at the Rajghat, while launching the event prime minister himself had cleaned the road.

This Mission aimed to join each and every Indian people from all walks of life by making the structure of branching of a tree. Swachchh Bharat Mission aimed to construct individual sanitary latrines for household purposes for the people living under poverty lines converting dry latrineint              low-cost sanitary latrines, providing facility of hand pumping. Safe and Secure bathing. Set up Sanitary marts construct drains, disposal of solid and liquid wastes, enhance health and education awareness about sanitation, facilitating the participation of private sector towards cleanliness facilities.


Make in India

Make in India is campaign launched by Prime Minister Narendra Modi on September 25, 2015 with a view to put India prominently on the global manufacturing map and in turn facilitate the inflow of technology and capital, while creating millions of jobs. The ambitious scheme which puts in place the logistics and systems to address in a timely manner queries of potential investors was unveiled along with a logo, a portal and brochures on 25 identified growth sectors.

Many unemployed Indians have started leaving the country to seek opportunities elsewhere. People have lost faith in Indian manufacturing and themselves. The Prime Minister said, for him the term FDI for the domestic industry did not expand to 'foreign direct investment' but/ first develop India7, to create opportunities of unemployment. If the poor get jobs the purchasing power of families will increase. 'Lion is the logo of Make in India campaign.

The main aim of the scheme is to achieve global competitiveness.


Pradhan Mantri jandhan Yojana (PMJDY)

PMJDY is a scheme for comprehensive financial inclusion launched by the Prime Minister of India, Narendra Modi on 28 August/ 2014. He had announced this scheme on his independence day 15 August, 2014.

PMJDY run by Department of Financial Services, Ministry of Finance on the inauguration day 1-5 crore (15 million) bank account were opened under this scheme. By 28 January, 2015,12-58 crore accounts were opened with around 10590 crore were deposited under the scheme, which also has an option for opening New Bank accounts with zero balance.



  • Ensuring access to financial services.
  • Providing Need based credit.
  • Promotion of financial inclusion for weaker sectors, low income groups.
  • Use of technology for providing financial penetration.
  • Providing low cost banking services solution.
  • Universal access to banking services.
  • At least one basic banking account for every house hold.
  • Provision of financial literacy.
  • Access to credit insurance and pension facilities.
  • Channelizing government benefits to account of beneficiaries.
  • Promotion of DBT (Direct Benefit Transfer) Scheme.
  • Addressing low connectivity and lack of financial inclusion.


  • The name 'Jan Dhan’ was chosen through an online competition on the "My Govtplatform" and received more than 6000 suggestions from Indian citizens. After evaluation the Jury shortlisted 'Jan Dhan" which suggested by 7 individuals.
  • The slogan for the Pradhanmantri Jan Dhan mission is expected to be 'Mera Khata-Bhagya Vidhata7 or 'My Account The creator of the Good Fortune'.
  • The scheme will cover both urban and rural areas of India and all bank accounts open will be linked to a debit card which would be issued under the Ru-pay scheme (Ru-pay is India's own unique domestic card network owned by National Payments Corporation of India and has been created as an alternative to Visa and Master card)
  • Every individual who opens a bank account becomes eligible to receive an accident insurance cover of up to Rs. 1 lakh his entire family.
  • PMJDY has set an ambitious target of bringing in more than 7-5 crore un-banked families into India's banking system by opening more than 15 crore bank accounts at the rate of two bank accounts per household.
  • Once the bank account has been active for 6 Months and has been linke to accountholders Aadhaar identity, they would become eligible for an overdraft of up to Rs. 2,500, which would further be enhanced by the bank to Rs. 5,000 overtime.
  • PMJDY also seeks to provide incentives to business and banking correspondents who serve as links for the last mile between saving Account holder sand the bank by fixing am remuneration of Rs. 5,000.
  • The long term vision of the Jan Dhan Yojana is to lay the foundation of a cashless economy and it’s complementary to the Digital India Scheme.


Saansad Adarsh Gram Yojana

The Saansad Adarsh Gram Yojana was launched for the development of model villages. Under the Yojana, Members of Parliament (MP's) will be responsible for developing the socio-economic and physical infrastructure of three villages each by 2019, and a total of eight villages each by 2024.


  • The first Adarsh gram must be developed by 2016 and two more by 2019. From 2019 to 2024, five more Adarsh Grams must be developed by each MP, one each year.



  • The development of model villages called Adarsh Gram through the implementation of existing schemes and certain new initiatives to be Designed for the local context, which may vary from village to village
  • Creating models of local development which scan be replicated in other villages.


Identification of villages              

  • MPs can select any gram panchayat, other than their own village or that of their spouse, to be developed as an Adarsh Gram. The village must have a population of 3,000-5,000 people if it is located in the plains or 1000-3000 people if it is located in the hilly areas.
  • Loksabha MPs can choose a village from their constituency and Rajya Sabha MPs of the state from which they are elected. Nominated Memberscan choose a village from any district of the country. MPs which represent urban constituencies can identify a village from a Neigh-bouring rural constituency.



No new funds have been allocated for the Yojana. Resources may be raised through:

  • Funds from existing scheme, such as Indira Awash Yojana, Pradhanmantri Gram Sadat Yojana, Mahatma Gandhi National Rural Employment Guarantee Scheme, and Backward Region Grant Fund etc.
  • The Member of Parliament Local Area Development Scheme (MPLADS).
  • The gram panchyat's own revenue.
  • Central and state Finance Commission Grants.
  • Corporate Social Responsibility Funds.




Pradhanmantri suraksha Bima Yojana (PMSBY)


Eligibility:  Available to people in age group 18 to 70 years with bank account:

Premium: Rs. 12 per annum.

Payment mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.

Risk coverage: For Accidental death and full disability Rs. 2 lakh for partial disability Rs. 1 lakh.

Eligibility: Any person having a bank account and Adhere number linked to the bank account can give a simple form to the bank every year before 1st of June in order to join the scheme. Name of nominee to be given in the form.

Terms of Risk. Coverage:  A person has to opt for the scheme every year. He can also prefer to give a long term option of continuing in which case his account will be auto-debited every year by the bank.

Implementation of this scheme; this scheme will be offered by all public sector. General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.


Pradhanmantri Jeevan Jvoti Bima Yojana


Eligibility: Available to people in the age group of 18 to 50 and having a bank account people who join the scheme before completing 50 years, however continue to have the risk of life cover up to the age of 55 years subject to payment of premium.

Premium: Rs. 330 per annum. It will be auto debited in one instalment.

Payment mode: The payment of premium will be directly auto debited by the bank from the subscribers account.

Risk Coverage: Rs. 2 lakh in case of death for any reason.

Terms of Risk Coverage: A person has to opt for the scheme every year. He can also prefer to give a long term option of continuing in which case his account will be auto debited every year by the bank.

Implementation of this scheme: The scheme will be offered by Life Insurance Corporation and all other life insurers who are willing to join the scheme and tie up with bank for this purpose.


Atal Pension Yomna (APY): The scheme will be launched on June 1, 2015 and focus is on the unorganised sector. A pension provides people with a monthly income when they are no longer earning. A subscriber receives pension based on accumulated contribution out of his current income under the Atal Pension Yojana Scheme. The subscribers under the age of 40 would receive the fixed monthly pension of Rs. 1,000 to Rs. 5,000 at the age of 60 years, depending on their contributions.


Eligibility of APY: APY is open to all bank accountholders who are not members of any statutory social security scheme.

Age of joining and contribution period the minimum age of Join in APY is 18 years and maximum age is 40 years. One needs to contribute till one attains 60 years of age.


 Sukanv'a Saroricihi Yojana (Under Beti Bachao  Beti Padao Yojana)


  • Sukanya Samridhi Account' can be opened at any time from the birth of a girl child till she attains the age of 10 years, with a minimum deposit of Rs. 1,000. A maximum of Rs. 1-5 lakh can be deposited during the financial year.
  • The account can be opened in any post office or authorized branches of commercial banks.
  • Prime Minister Narendra Modi launched a small deposit scheme for girl child, as part of the "Beti Bachao Beti Padhao' campaign, which would fetch an interest rate of 9-1% and provide income tax rebate.
  • The account will remain operative for 21 years from the date of opening of the account or marriage of the girl child after attaining 18 years of age.
  • To meet the requirement of higher education expenses partial withdrawal of 50% of the balance would be allowed after the girl child has attended 18 years of age.


PAHA DBTL (Direct: Benefit Transfer of LPG)

The PAHAL DBTL ambitious scheme was earlier launched on June 1, 2013 by the previous government with the objective of giving cash subsidy on cooking gas and it covered 291 districts. The present government has comprehensively examined the PAHAL scheme and after reviewing the problems faced by the consumers, it modified the prior scheme and re- launched it in 54 districts on 15 November, 2014 to cover 2-5 croc. Households.

The new scheme has made available the LPG subsidy to all consumers under the modified scheme, the consumer who use LPG can now receive subsidy in his bank account under two options—with Adhere and without

Adhere. Such a consumer who join the scheme will be called Cash Transfer Compliant (CTC) and he can receive subsidy in the bank account.


Benefits of PAHAL:

There are three bodies which are going to be benefited by the PAHAL Scheme:


  • For LPG Consumer: All consumer using LPG cylinder will get cash subsidy to buy 12, 14.2 kg cylinders or 34.5 kg refills. The amount of money which is equal to the difference between the present subsidized rate and the market price is automatically transferred to the bank account of the consumer when he or she makes the first booking for a cylinder. However this is possible only after joining the scheme. When the consumer takes the delivery of the cylinder, another advance subsidy is transferred to the bank account.
  • For Government: This scheme will reduce or prevent the unauthorized sale of LPG cylinders at higher rates. The purchase of multiple gas connections will be prevented. Accordingly, the subsidy burden for the government will be reduced.
  • For Oil Marketing Companies (OMC): The LPG gas distributors won't have much burden of sending the cylinders to the intermediate gas suppliers. They will be in direct contact with their consumers, there by building a good customer relationship multiple unauthorized connections won't be provided. The OMCs will be able to ensure that the consumers receive the LPG gas at one fixed rate and do not have to stand in long queues if they had made the booking well in advance.


Mudra Bank

The Prime Minister Narendra Modi launched the promised Micro units development and Refinance Agency Ltd. (MUDRA) Bank on 8th April, 2015 with a corpus of Rs. 20,000 crore and a credit guarantee corpus of Rs. 3,000 crore.


Objective of Mudra Bank:


  • Regulate the lender and the borrower of micro-finance and bring stability to the micro-finance system through regulation and inclusive participation.
  • Extend finance and credit support to Micro-finance institutions and agencies that lend money to small businesses, retailer, self-help groups and Individuals.
  • Register all MFIs and introduce a system of performance rating and accreditation for the first time.
  • Provided structured guidelines for the borrowers to follow to avoid failure of business or take corrective steps in time MUDRA will help in laying down guidelines or acceptable procedures to be followed by the lenders to recover money in case of default.
  • Develop the standardized covenants that will form the backbones of the last mile business in future.
  • Offer a Credit Guarantee Scheme for providing guarantees to loans being offered to micro businesses.
  • Introduce appropriate technologies to assist in the process of efficient lending, borrowing and monitoring of distributed capital.



Mudra Bank has launched three loan instruments:

(i) (SISHU): Covers loan up to Rs. 50,000

(ii) KISHOR: Covers loan above Rs. 50,000 and upto Rs. 5 lakh

(iii) TARUN: Cover loan above 5 lakh and upto 10 lakh.


Skill India

Prime Minister Narendra Modi Launched 'Skill India' Programme in March 2015. The main goal of skill India is to create opportunities, space and scope for the development of talents of the Indian youth and to develop more of those sectors which have already been put under skill development for the last so many years and also to identify new sectors for Skill development.


Features of Skill India

  • The emphasis is to skill the youths in such a way so that they get employment and also improve entrepreneurship.
  • Provides Training, support and guidance for all occupation that were of traditional type like carpenters, cobblers, tailors, weavers etc.
  • More emphasis will be given on new areas like real estate, construction transportation, textile Jewellery designing, banking, tourism and various other sectors where Skill development is inadequate.
  • Another remarkable feature of Skill India Program would be to create a hallmark called 'Rural India Skill' so as to standardize and certify the training process.


Various committee and their focus area

  1. Abid Hussain Committee : Development Of Capital Markets
  2. A Ghosh Committee : Final Accounts
  3. A Ghosh Committee : Modalities Of Implementation Of New 20 Point Programme
  4. A Ghosh Committee : Frauds & Malpractices In Banks
  5. A C Shah Committee : NBFC
  6. AK Bhuchar Committee : Coordination Between Term Lending Institutions And Commerdal Banks
  7. Adhyarjuna Committee : Changes In N1 Act And Stamp Act
  8. BD Shah Committee : Stock Lending Scheme
  9. BD Thakar Committee : Job Criteria In Bank Loans (Approach)
  10. B Sivaraman Committee : Institutional Credit For Agricultural & Rural Development
  11. B Venkatappaiah Committee : All India Rural Credit Review
  12. Bhagwati Committee : Public Welfare
  13. Bhagwati Committee : Unemployment
  14. Bhootlingam Committee: Wage, Income & Prices
  15. Bhave Comrrdttee : Share Transfer Reforms
  16. Bhide Committee : Coordtnation Between Commerdal Banks And SFC's
  17. B Eradi Committee : Insolvency And Wind Up Laws
  18. Chesi Committee : Direct Taxes
  19. Cook Committee (On Behalf Of BIS - Under Basel Committee) : Capital Adequacy Of Banks
  20. C Rao Committee : Agricultural Policy
  21. CE Kamath Committee : Multi Agency Approach In Agricultural Finance
  22. Chatalier Committee : Finance to Small Scale Industry
  23. Dave Committee : Mutual Funds (Functioning)
  24. Dharia Committee : Public Distribution System
  25. DR Gadgil Committee : Agricultural Finance
  26. Dutta Committee : Industrial Licensing
  27. Damle Committee: MICR
  28. Dandekar Committee : Regional Imbalances
  29. Dantwala Committee : Estimation Of Employments
  30. D R Mehta Committee : Review Progress And Recommend Improvement Measures Of IRDP
  31. Gadgil Committee(1969):Lead Banking System
  32. Godwala Committee : Rural Finance
  33. GS Dahotre Committee : Credit Requirements Of Leasing Industry
  34. GS Patel Committee : Carry Forward System On Stock Exchanges
  35. Lakshmai Narayan Committee : Extension Of Credit Limits On Basis Of Consortium
  36. G Sundaram Committee : Export Credit
  37. Goiporia Comnuttee : Customer Service In Banks
  38. Hazari Committee (1967): Industrial Policy
  39. IT Vaz Committee : Working Capital Finance In Banks
  40. Jankirarnanan Committee : Securities Transactions Of Banks & Financial Institutions
  41. JV Shetty Committee : Consortium Advances
  42. J Reddy Committee : Reforms In Insurance Sector
  43. James Raj Committee : Functioning Of Public Sector Banks
  44. KB Chore Committee : To Review The Symbol Of Cash Credit
  45. KS Krishnaswamy Committee : Role Of Banks In Priority Sector And 20 Point Economic Programme
  46. Khusrau Conumttee : Agricultural Credit
  47. Khanna Committee : on Performing Assets
  48. K Madhav Das Committee : Urban Cooperative Banks
  49. Karve Committee : Small Scale Industry
  50. Kamath Committee : Education Loan Scheme
  51. Kalyansundaram Committee : Introduction Of Factoring Services In India
  52. LC Gupta Cornmittee : Financial Derivatives
  53. L K Jha Committee : Indirect Taxes
  54. Marathe Coirunittee : Licensing Of New Banks
  55. Mrs. KS Shere Committee ; Electronic Fund Transfer
  56. Mahadevan Committee : Single Window System
  57. ML Dantwala Comrnittee : Regional Rural Banks
  58. Mahalanobis Committee : Income Distribution
  59. Narsimham Committee : Finandal System
  60. Nadkami Comnuttee : Improved Procedures For Transactions In PSU Bonds And Units
  61. Nariman Committee : Branch Expansion Programme
  62. Omkar Goswami Committee: Industrial Sickness And Corporate Restructuring
  63. PL Tandon Committee : Export Strategy
  64. P R Nayak Committee : Institutional Credit To SSI Sector
  65. Purshottam Das Committee : Agricultural Finance And Cooperative Sorieties
  66. PD Ojha Committee : Service Area Approach
  67. P Selvam Committee : on Performing Assets Of Banks
  68. Pendarkar Committee: Review The System Of Inspection Of Commercial, RRB And Urban Cooperative Banks
  69. PR Khanna Committee : Develop Appropriate Supervisory Framework For NBFC
  70. FC Luther Committee : Productivity, Operational Effidency & Profitability Of Banks
  71. Pillai Committee : pay Scales Of Bank Officers
  72. Ram Niwas Mirdha Committee (JPC): Securities Scam
  73. R Jilard Banks : Inspection System Of Banks
  74. RV Gupta Committee : Agricultural Credit Delivery
  75. Rangrajan Committee : Computerization Of Banking Industry
  76. R S Saria Committee : Agricultural Finance And Cooperative Sodeties
  77. Rangrajan Committee : public Sector Disinvestment
  78. RN Mirdha Committee : Cooperative Sodeties
  79. Raja Chelliah Committee : Tax Reforms
  80. RN Malhotra Committee : Reforms In Insurance Sector
  81. Rashid Jilani Committee : Cash Credit System
  82. RK Talwar Committee : Enactment Having A Bearing On Agro Landings By Commercial Banks
  83. RK Talwar Committee : Customer Service
  84. Rajamannar Committee : Centre - State Fiscal Relationships
  85. Rajamannar Committee: Changes In Banking Laws, Boundng Of Cheques Etc
  86. Ray Committee : Industrial Sickness
  87. RG Saraiya Committee (1972): Banking Commission
  88. RK Hajare Committee : Differential Interest Rates Scheme
  89. Rakesh Mohan Committee : petro Chemical Sector
  90. RH Khan Committee : Harmonization Of Banks And Ssis
  91. Sodhani Committee : Foreign Exchange Markets In NRI Investment In India
  92. S Padmanabhan Committee: Onsite Supervision Function Of Banks
  93. S Padmanabhan Committee : Inspection Of Banks (By RBI)
  94. Sukhmoy Chakravarty Committee : To Review The Working Of Monetary System
  95. Samal Conmuttee: Rura1 Credit
  96. SS Tarapore Committee : Capital Accoimt Convertibility
  97. SC Choksi Committee : Direct Tax Law
  98. SS Nadkarni Committee : Trading In Public Sector Banks
  99. Shankar Lal Gauri Committee: Agricultural Marketing
  100. SS Kohli Committee : Rehabilitation Of Sick Industrial Urdts
  101. SS Kohli Committee : Rationalization Of Staff Strength In Banks
  102. SS Kohli Committee : Willful Defaulters
  103. SK Kalia Committee : Role Of NGO And SHG In Credit
  104. SL Kapoor Committee : Institutional Credit To SSI
  105. Tiwari Committee : Rehabilitation Of Sick Industrial Undertakings
  106. Tandon Committee : Follow Up Of Bank Credit
  107. Tandon Committee : Industrial Sickness
  108. Thingalaya Committee : Restruduring Of RRB
  109. Tambe Committee : 'Term Loans To SSI
  110. Thakkar Committee : Credit Schemes To Self Employed
  111. Usha Thorat Panel: Financial Inclusion
  112. UK Sharma Committee : Lead Bank Scheme (Review)
  113. Vipin Malik Committee : Consolidated Accounting By Banks
  114. VT Dehena Committee : To Study Credit Needs Of Industry And Trade Likely To Be Inflated
  115. Vyas Committee : Kural Credit
  116. Vaghul Committee : Mutual Fund Scheme
  117. Varshney Committee : Revised Methods For Loans (>2 Lakhs)
  118. Venketaiya Committee : Review Of Rural Financing System
  119. WS Saraf Committee : Technology Issues In Banking Industry
  120. Wanchoo Committee : Direct Taxes
  121. YV Reddy Committee : Reforms In Small Savings
  122. Y H Malegam Committee : Disclosure Norms For Public Issues


Working Groups and Committees by RBI

  1. Working Group on Improvement of Banking Services in Himachal Pradesh:
  2. Working Group on Benchmark Prime Lending Rate (BPLR): Deepak Mohanty
  3. Working Group on Surveys : Deepak k Mohanty
  4. Group on Model Fiscal Responsibility Legislation at State Level: shri H R Khan
  5. High Level Committee to Review Lead Bank Scheme: Usha Thorat
  6. Internal Technical Group on Seasonal Movements in Inflation: Or Balvant Singh
  7. Task Force on Revival of Cooperative Credit Institutions: Prof A. Vaidyanathan
  8. Working Group to Review the Business Correspondent Model : p Vijaya Bhaskar Rao
  9. Working Group to Examine the Procedures and Processes of Agricultural Loans: C P Swarankar
  10. Special Group for Formulation of Debt Restructuring Mechanism for Medium Enterprises: Shri G,Srinivasan
  11. High Level Group on Systems and Procedures for Currency Distribution: Ushd Thorat
  12. Task Force on Empowering RRB Boards for Operational Efficiency:G, Karmakar
  13. Working Group on Screen Based Trading In Government Securities : R.H patile
  14. G20 Working Group on Enhancing Sound Regulation and Strengthening Transparency: Rakesh Mohan and Mr. Tiff Macklem
  15. Technical Group Set up to Review Legislations on Money Lending : Shri.S, C Gupta
  16. Expert Group on Internet Deployment of Central Database Management System (CDBMS): A. Vaidyanathan
  17. Committee on Financial Sector Assessment: Rakesh Mohan
  18. Working Group to Suggest Measures to Assist Distressed Farmers: S S Johl
  19. Report on Monitoring of Financial Conglomerates: Shvamala Go math
  20. High Level Committee on Estimation of Savings and Investment : Dr, C Rangarajan
  21. Technical Group on Statistics for International Trade in Banking Services : Shri K.S.R.Rao
  22. Working Group on Development Financial Institutions : Shri N. Sadasivan
  23. Committee on the Global Financial System (CGFS) on Capital Flows andn Emerging Market Economies : Rakesh Mohan
  24. Technical Advisory Group On Development Of Leading Economic Indicators For Indian Economy : R B Barman
  25. Advisory Committee to Advise on the Administered Interest Rates and Rationalisation of Saving Instruments: Dr. Rakesh Mohan
  26. Task Force For Diamond Sector : A K Bera
  27. Working Group on Savings for the Eleventh Five Year Plan (2007-08 to 2011-12): Rakesh Mohan
  28. Advisory Committee on Flow of Credit to Agriculture:S.Vyas
  29. Technical Advisory Group on Development of Housing Start-Up Index in India: Prof. Amitabh Kundu
  30. Working Group on Compilation of State Government Liabilities: N.D. Jadhav
  31. Working Group on Flow of Credit to SSI Sector: A.S.Ganguly
  32. Working Group on Defraying Cost of ICT Solutions for RRBs : Shri G. Padmanabhan
  33. Working Group on Improvement of Banking Services in Uttaranchal: S. Das
  34. Working Group of cost NRI remittance : P.K jain
  35. Group to Study the Pension Liabilities of the State Governments : B K Bhattacharya
  36. Rupee Interest Rate Derivatives: Shree G Padamanabaham
  37. Working Group on Instruments of Sterilisation : Usha Thorat
  38. Working Group on Information on State Government Guaranteed Advances and Bonds: LG,Padmanabhan
  39. Working Group on IT support for Urban Cooperative Banks : R Gandhi
  40. Working Group on Technology Upgradation of Regional Rural Banks: G Niwas
  41. Working group to formulate a scheme for Ensuring Reasonableness of Bank Charges: Sadasivarn
  42. Committee on Fuller Capital Account Convertibility: S tarpore
  43. Committee on Financial Sector Plan for North Eastern Region: thorat
  44. Survey on Impact of Trade Related Measures on Transaction Costs of Exports: Balwant Singh
  45. Working Group on Cheque Truncation and E-cheques: Barman
  46. Working Group on Introduction of Credit Derivatives in India: Mahapatra
  47. Interest Rate Futures : Shri V.K. Sharnia
  48. Internal Working Group to Study the Recommendations of the NCEUS Report: KUB Rao
  49. Advisory Committee on Ways and Means Advances to State Governments : M.R Bezbamah
  50. Need and Use Behavior for Small Denomination Coins : Sanal kumar Velayudhan
  51. Debt Sustainability at State Level in India: Indian Rajaraman shashank bhide and K-Pattnaik
  52. Group to Assess the Fiscal Risk of State Government Guarantees: Usha
  53. Advisory Committee on Ways and Means Advances to State Governments: N C. Ramachandran
  54. Working Group on Rupee Derivatives: Shri jaspal Bindra
  55. Committee on Computer Audit: Shri L- Narasimhan
  56. Committee on Payment Systems: Dr R H Patil
  57. Working Group on Improvement of Banking Services in the Union Territory of Lakshadweep: Ramaswamy
  58. Working Group on Rehabilitation of Sick SMEs : K. C. Chakrabarty
  59. Internal Group to Examine Issues Relating to Rural Credit and Microfinance: Shri H.R.Khan
  60. Working Group to review Export Cridite: Shri Anand Sinha
  61. Review Group on The Working of The Local Area Bank Scheme: Shri G.Ramachandran
  62. Technical Group on Statistics of International Trade in Services: Shri Deepak Mohanty
  63. Working Group for Suggesting Operational and Prudential Guidelines on STRIPS (Separately Traded Registered Interest and Principal of Securities: Shri M.R. Ramesh                                              
  64. Working Group to Review Export Credit: Ananad Sinha
  65. Internal Working Group on RRBs: Shri A V Sardesai
  66. Committee on Technology Upgradation in the Banking Sector: Dr A-Vasudevan.
  67. Working Group of EURO: Sri VSubrahmanyam
  68. New Monetary Aggregates: y. U Reddy                                
  69. Committee on Capital Account Convertibility: Sinhn SS.Taraporr
  70. Working Group on Electronic Money: Zarir Carna
  71. Working Group on Economic Indicators: R B. Barman
  72. Working Group to Examine the Role of Credit Information Bureaus in Collection and Dissemination of Information on Suit-filed Accounts and Defaulters: S,.R. layer                                                                 
  73. Information systems audit policy for the banking and financial sector:R.B.Burman.
  74. Internal Group to Review Guidelines on Credit Flow to SME Sector: C.S .Murthy
  75. Working Group on Regulatory Mechanism for Cards : Shri R. Gandhi
  76. Committee for Redesigning of Financial Statements of Non-Banking Financial Companies: S.N, Murthy                                            
  77. Working Group on Restructuring Weak Public Sector Banks: Shri M. S-Varma
  78. Working Group on Consolidated Accounting and Other Quantitative Methods to Facilitate Consolidated Supervision: Shri Vipin Malik
  79. Expert Committee to Review the System of Administered Interest Rates and Other Related Issues: D.i.Y.V. Reddy                                
  80. Inter-Departmental Group to study the Rationalization of Current account Facility with Reserve Bank of India : Shri K.W Korgaonkar
  81. The Expert Committee on Legal Aspects of Bank Frauds: Dr.N.L. Mitra
  82. Internal Group to Review the Guidelines Relating to Commercial Paper : Y.V.Reddy
  83. High Power Committee on Urban Cooperative Banks: Shri Madhav Rao
  84. Working Group for setting up Credit Information Bureau in India: Shri N.H.Siddiqui
  85. Working Group on Improvement of Banking Services In Jharkhand:S.Das
  86. Working Group for Working out modalities on Dissemination information In Electronic Form: Y.S.P. Thorat and C.R Gopalasundram


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