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Currency Swap Agreement: An arrangement between two friendly countries to involve in trading in their own local currencies. As per the arrangements, both countries pay for import and export trade at the pre-determined rates of exchange, without bringing in third country currency like the US Dollar. In such arrangements no third country currency is involved,Read more

Unemployment Rate: The unemployment rate is the most frequent measure of unemployment. The unemployment rate is the number of people unemployed divided by the working population or people working under labour force. Unemployment rate = (Unemployed Workers / Total labour force) × 100. Labour Force Participation Rate: It is defined as the percentage of personsRead more

Lohri Festival: primarily celebrated by Sikhs and Hindus. It marks the end of the winter season and is traditionally believed to welcome the sun to the northern hemisphere. It is observed a night before Makar Sankranti, this occasion involves a Puja Parikrama around the bonfire with prasad. It is essentially termed as the festival ofRead more

Bilateral Investment Treaty: is an agreement between two countries that sets up “rules of the road” for foreign investment in each other’s countries. BITs typically serve to protect investments made by investors on a reciprocal basis, specifying conditions on regulatory oversight of the host state and limiting interference with the rights of foreign investors. EurasianRead more

B.N.Srikrishna Committee: The Committee was constituted by the union government in July 2017, to deliberate on a data protection framework. The ten-member committee was tasked with studying and identifying key data protection issues and recommend methods for addressing them. The committee recommends that processing (collection, recording, analysis, disclosure, etc) of personal data should be doneRead more

Cost inflation index: is used to estimate the increase in the prices of goods and assets year-by-year due to inflation. It is calculated to match the prices to the inflation rate. In simple words, an increase in the inflation rate over time will lead to a rise in the prices. The Cost Inflation Index (CII)Read more

SPG: Special Protection Group was raised in 1985 to provide security cover to the Prime Minister, former Prime Ministers, and their immediate family members. The SPG comprises of the personnel from the CRPF, Border Security Force, and other Central and State forces. Reciprocal Access Agreement: is a bilateral defense and security pact between the governmentsRead more

UNCTAD: The United Nations General Assembly is the parent organization of the United Nations Conference on Trade and Development (UNCTAD). Moreover, UNCTAD is a permanent body of the United Nations. It deals with trade issues, investments, and other matters concerning development. United Nations Conference Trade and Development goals are: The development opportunities, investments, and tradeRead more

Kisan Credit card: scheme was introduced in 1998 for providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedures to the farmers for their cultivation and other needs like the purchase of agriculture inputs such as seeds, fertilizers, pesticides, etc. and draw cash for their productionRead more

Double Deflation: A better way to estimate GDP accurately is to deflate input and output prices through separate indices, popularly known as double deflation. When output prices move relatively faster than the input prices, the single deflation method overestimates GDP/GVA and vice versa. In order to ensure accuracy, it is high time to discard theRead more