Introduction Test - 27

Mumbai, New Delhi and pune all aremetropolitan city of India.

As per the Census of India 2011 definition of more than 4 million population, some of the major Metropolitan Cities in India are:

1. Mumbai (more than 18 Million)
2. Delhi (more than 16 Million)
3. Kolkata (more than 14 Million)
4. Chennai (more than 8.6 million)
5. Bangalore (around 8.5 million)
6. Hyderabad (around 7.6 million)
7. Ahmedabad (around 6.3 million)
8. Pune (around 5.05 million)
9. Surat (around 4.5 million)

Economic development is based on both organised and unorganised sectors of economy.

Organised Sector is a sector where the employment terms are fixed and regular, andthe employees get assured work. Unorganised sector is one where the employment terms are not fixed and regular, as well as the enterprises, are not registered with the government. Both are crucial for any economic development.A gig economy isa free market system in which temporary positions are common and organizations hireindependent workers for short-term commitments. The term "gig" is a slang word for a job that lasts a specified period of time.

Corporation tax is a direct tax imposed on the net income or profit those enterprises make from their businesses.

Companies, both private and public which are registered in India under the Companies Act 1956, are liable to pay corporate tax.

A company that is established in India and is registered under India’s Companies Act, 2013 is termed a Domestic Corporate.

In case of a Foreign Corporation, as the name suggests, a company that is situated overseas and not in India is called a foreign corporation. If some part of a foreign company’s management and control is situated outside of India, then also it is called a foreign company.

The Money market in India is the money market for short-term and long-term funds with maturity ranging from overnight to one year in India. The Indian money market consists of the unorganized sector: moneylenders, indigenous bankers and unregulated Non-Bank Financial Intermediaries (e.g. Finance Companies, Chit funds, Nidhi);

Family Planning Programme is not a part of the strategy of direct attack on poverty.

​India was the first country in the world to have launched a National Programme for Family Planning in 1952.

The key strategic focus of this initiative is on improving access to contraceptives through delivering assured services, ensuring commodity security and accelerating access to high-quality family planning services.

The program's primary objectives were to lower fertility rates and slow population growth.

USA has surpassed China to become India's biggest trading partner in 2021-22.

The US has surpassed China to become India's top trading partner in 2021-22. According to the data of the Commerce Ministry, in 2021-22, the bilateral trade between the US and India stood at USD 119.42 billion as against USD 80.51 billion in 2020-21. During 2021-22, India's two-way commerce with China aggregated at USD 115.42 billion as compared to USD 86.4 billion in 2020-21.

Wholesale banking is the provision of services by banks to organizations, such as mortgage brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, institutional customers (such as pension funds and government entities/agencies), and services offered to other banks or other financial institutions.

Alagh Committee-

Planning Commission had appointed YK Alagh Committee in July 1977. Committee submitted its report in January 1979. This committee used the "Calorie" criteria for the measurement of Poverty. This committee used the "Calorie" criteria for the measurement of Poverty.

• For Rural area - 2400 calorie
• For Urban area- 2100 calorie

Lakdawala Committee-

Planning Commission in September 1989 appointed D.T.Lakadwala Committee. Committee submitted its report in January 1993. Lakadwala committee used the Alagh committee's method but it declared separate poverty lines for each state, rural as well as urban. Committee used the Uniform Recall Period method. The government used this method from 1997 to 2011 for the measurement of poverty.

Tendulkar Committee-

Planning Commission in December 2005 appointed Suresh Tendulkar Committee. Committee submitted its report in December 2009. It rejected the use of Calorie as criteria to measure poverty. It accepted Food, Health, Education, Clothing as a component in the poverty line basket. It used the data of the 61st round of NSSO.

• For Rural area- Rs. 446.68
• For Urban area- Rs. 578.8
• The above data was for the 2004-2005 year.
• For the 2009-2010 year
• Rural- Rs. 673
• Urban- Rs. 860

C.Rangarajan Committee-

In 2012 government-appointed committee under C.Rangarajan to measure poverty in the country. Committee submitted its report in 2014.

This committee recommended using the Lakdawala Committee method to measure Poverty.

This committee used the calorie criteria to measure the poverty.

• For Rural- 2155 Calorie
• For Urban- 2090 Calorie

It used the separate poverty line for a separate state.

Development of a country can generally be determined by its per capita income, its average literacy level and health status of its people.

A developed country also called anIndustrializedcountryhas a mature and sophisticated economy, usually measured by gross domestic product (GDP) or average income per resident. Developed countries have advanced technological infrastructure and have diverse industrial and service sectors.

Barter system involvesdouble coincidence of wants.

Double coincidence of wants means that both of the parties have to agree to sell and buy each commodity. Under this system, problems arise through the improbability of the wants, needs, or events that cause or motivate a transaction occurring at the same time and the same place. One example is the bar musician who is "paid" with liquor or food, items which his landlord will not accept as rent payment, when the musician would rather have a month's shelter. If, instead, the musician's landlord were to throw a party and desire music for it, hiring the musician to play it by offering the month's rent in exchange, a coincidence of wants would exist.