Upsc Exam vistrati

 📍 ECONOMICS AND THE ECONOMY The relation between economics and the economy, simply saying, is that of theory and practice.While the former is a discipline studying economic behaviour of human beings, the latter is a still-frame picture of it.  Economics will come out with theories of market, employment, etc., and an economy is the real picture of the things which emerges after the application of those theories. ● Important points :- 💡Economics has less diversity than the  Economies. 💡There will not be any exaggeration    if we say that no two economies of the world are exactly the same .

 📍 IMMEDIATE PAYMENT SERVICE - IMPS. Immediate Payment Service (IMPS) is an instant payment inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones.  The sender requires to know the bank account number and the Indian Financial System Code of the beneficiary to transfer money. ● Prelims points :- 💡 Transfer amount - 1 lakh to 2 lakhs. 💡Target customers - Ordinary retail customers . 💡Charges - GST and Fees. 💡 Settlement mechanism - Instant settlement. 💡Banks, mobile-wallet companies like Phonepe, Mobikwik provide this facility.

 📍 NATIONAL ELECTRONIC FUND TRANSFER. National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). NEFT enables bank customers in India to transfer funds between any two NEFT-enabled bank accounts on a one-to-one basis. It is done via electronic messages. ● Prelims points :- 💡 Transfer amount - upto 10 lakhs. 💡 Target customers - Ordinary retail customers. 💡Settlement mechanism - Settles net amount between banks at interval of 30 minutes. 💡 Charges = Fee + GST. 💡 Only Banks can provide this facility as it requires IFSC branch code.

   UPSC SYLLABUS OF ECONOMY. 💡 Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. 💡 Inclusive Growth and issues arising from it. 💡 Government Budgeting. 💡 Major Crops - Cropping Patterns in various parts of the country, - Different Types of Irrigation and Irrigation Systems; Storage, Transport and Marketing of Agricultural Produce and Issues and Related Constraints; E-technology in the aid of farmers. 💡 Issues related to Direct and Indirect Farm Subsidies and Minimum Support Prices; Public Distribution System - Objectives, Functioning, Limitations, Revamping; Issues of Buffer Stocks and Food Security; Technology Missions; Economics of Animal-Rearing. 💡 Food Processing and Related Industries in India- Scope’ and Significance, Location, Upstream and Downstream Requirements, Supply Chain Management. 💡 Land Reforms in India. 💡 Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Indus