MPPSC MAINS 2015 Paper-III

Points to Remember: Low levels of income per capita Limited industrialization High rates of poverty and inequality Dependence on agriculture High population growth rates Inadequate infrastructure Low levels of education and healthcare Political instability and corruption Introduction: The term “underdeveloped country” is a contested one, often replaced by “developing country” or “low-income country” to avoid … Read more

Points to Remember: Economic development encompasses improvements in living standards, income levels, and overall well-being. Capital formation is crucial for economic development, providing the necessary infrastructure and tools for production. Both human capital and physical capital are essential for sustained growth. Challenges like inequality and environmental sustainability must be addressed alongside economic growth. Introduction: Economic … Read more

Points to Remember: GDP measures the total value of goods and services produced within a country’s borders. NDP adjusts GDP by accounting for depreciation of capital goods. Both are crucial indicators of a nation’s economic health but offer slightly different perspectives. Understanding the difference helps in making informed economic decisions. Introduction: Gross Domestic Product (GDP) … Read more

Points to Remember: Definition and characteristics of a mixed economy. Role of government and private sector. Advantages and disadvantages. Examples of mixed economies. Evolution and challenges. Introduction: A mixed economy is an economic system that combines elements of both market economies and planned economies. It blends private and public enterprise. Unlike a purely capitalist system … Read more

Points to Remember: Social justice is about fairness and equity in society. It addresses systemic inequalities and injustices. It requires collective action and policy changes. It aims to create a society where everyone has equal opportunities. It encompasses various dimensions like economic, political, and social equality. Introduction: Social justice is a broad concept encompassing the … Read more

Points to Remember: Definition and characteristics of Commercial Paper (CP). Issuers and investors in the CP market. Advantages and disadvantages of using CP. Role of credit rating agencies. Regulatory framework governing CP issuance. Introduction: Commercial Paper (CP) is a short-term unsecured promissory note issued by corporations, financial institutions, and other entities to raise short-term funds … Read more

Points to Remember: Definition and types of retail loans. Key characteristics of retail loans. Advantages and disadvantages of retail loans for borrowers and lenders. Regulatory aspects and risks associated with retail loans. Future trends in retail lending. Introduction: Retail loans are a significant component of the financial system, representing credit extended to individual consumers for … Read more

Points to Remember: Definition and purpose of buffer stock. Mechanisms for managing a buffer stock. Advantages and disadvantages of buffer stock schemes. Examples of buffer stock schemes and their effectiveness. Policy recommendations for improving buffer stock management. Introduction: A buffer stock is a government-managed reserve of a commodity, typically agricultural products like grains or raw … Read more

Points to Remember: Definition of underemployment Types of underemployment Measurement of underemployment Causes of underemployment Consequences of underemployment Policy implications Introduction: Underemployment, a significant economic and social issue, refers to a situation where individuals are employed but are not working to their full potential. It’s more than just unemployment; it encompasses those working fewer hours … Read more

Points to Remember: Definition and types of disinvestment Methods of disinvestment Objectives of disinvestment Advantages and disadvantages of disinvestment Case studies and examples Policy recommendations Introduction: Disinvestment, also known as privatization, refers to the partial or full sale of government-owned assets or stakes in public sector undertakings (PSUs). It’s a crucial policy tool employed by … Read more