Introduction Test - 26

The First Five-year Plan was launched in 1951 which mainly focused on the development of the primary sector. The First Five-Year Plan was based on the Harrod–Domar model with few modifications. At the end of the plan period in 1956, five Indian Institutes of Technology (IITs) were started as major technical institutions.

The Cost of Living Index isnotconsidered when determining the Minimum Support Price.

• Minimum Support Price (MSP)is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices.
• The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of theCommission for Agricultural Costs and Prices (CACP).
• MSPis price fixed by the Government of India to protect the producer - (farmers) - against excessive fall in price during bumper production years.
• The minimum support prices are a guaranteed price for their produce from the Government.​

The following factors included in determining MSP are:

• Demand and supply
• Cost of production
• Price trends in the market, both domestic and international
• Inter-crop price parity
• Terms of trade between agriculture and non-agriculture;
• A minimum of 50 percent as the margin over the cost of production
• Implications of MSP on consumers of that product.

Coinbase has become the first crypto firm to enter the prestigious Fortune 500 list.

Retail giant Walmart topped the ranking for the 10th straight year, followed by Amazon and Apple. The Fortune 500 is an annual list published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years.

Per capita income is a measure of the amount of money earned per person in a nation or geographic region.

It is used to determine the average per-person income for an area and to evaluate the standard of living and quality of life of the population.

Per capita income for a nation is calculated by dividing the country's national income by its population.

It counts each man, woman, and child, even newborn babies, as a member of the population.

The National Stock Exchange (NSE) has declared the Indian Financial services company Karvy Stock Broking Ltd as a defaulter.

The membership of Karvy was also terminated by NSE under NSEIL Rules. In November 2019, Karvy had transferred securities worth Rs 2,300 crore into its account by misusing the power of attorney given by its clients. SEBI has also found that Karvy indulged in trades that were not authorized by clients.

All the above given factors encourages MNCs for investment.

Having assured themselves of these conditions, MNCs set up factories and offices for production. The money that is spent to buy assets such as land, building, machines and other equipment is called investment. Investment made by MNCs is called foreign investment. Any investment is made with the hope that these assets will earn profits. In general, MNCs set up production where it is close to the markets; where there is skilled and unskilled labour available at low costs and where the availability of other factors of production is assured. In addition, MNCs might look for government policies that look after their interests.

Bangalore has emerged as the electronic capital of India.

It plays the maximum role as the country's leading information technology (IT) exporter. It is said to be one of India's largest electronic/IT industrial parks, stretching over 800 acres (3.2 km²).

Anupriya Patel has launched the Indian Business Portal in New Delhi on May 27, 2022.

Minister of State for Commerce and Industry Anupriya Patel launched the Indian Business Portal in New Delhi on May 27, 2022. This portal will serve as an international trade hub for Indian exporters and foreign buyers. This Portal has been developed by the Federation of Indian Export Organisations. The portal will digitize Indian exporters and help them become discoverable online.

A cheque is a paper instructing the bank to pay a specific amount from the person’s account to the person in whose name the cheque has been issued.

The cheque is a form of Payment in which the payer who has an account with the bank, makes out a cheque for a specific amount. Acheque is not money.Types of cheques includecertified cheques, cashier's checques, and payroll cheques, also called paycheques. Thecheque usage has fallen, being partly replaced by electronic payment systems(credit cards, debit cards, virtual cards).

The standard of living in a country is represented by per capita income. Per capita income is a measure of the amount of money earned per person in a nation or geographic region. Per capita income can be used to determine the average per-person income for an area and to evaluate the standard of living and quality of life of the population.