The Things You Should Know

Macroeconomics:  Macroeconomics, as a separate branch of economics, emerged after the British economist John Maynard Keynes published his celebrated book 'The General Theory of Employment, Interest and Money' in 1936. Unlike his predecessors, his approach was to examine the working of the economy in its entirety and examine the interdependence of the different sectors. With this the subject of macroeconomics was born. Macroeconomics is a branch of the economics field that studies how the aggregate economy behaves. In macroeconomics, a variety of economy-wide phenomena is thoroughly examined such as, inflation, price levels, rate of growth, national income, gross domestic product and changes in unemployment . Macroeconomics sees an economy as a combination of four sectors, namely households, firms, government and external sector. 1. Households: H ousehold means a single individual who takes decisions relating to his own consumption, or a group of individ...

The results of the five State Assembly elections finally came today.The results are almost as per the exit polls except Tamil Nadu.  Here are the results of five State Assembly elections. 1. Assam : The Assam Legislative Assembly election results are same as the exit polls only. BJP led alliance (BJP + AGP (Asom Gana Parishad) + BOPF (Bodoland Peoples Front))won the election with heavy margin. Out of 126 seats BJP+ won 86 seats while Congress managed to win only 26 seats. AIUDF (All India United Democratic Front) won only 13 seats while AIUDF chief Badruddin Ajmal himself lost to Congress candidate Wajed Ali Choudhury in South Salmara constituency. Tarun Gogoi the outgoing Chief Minister of Assam won from Titabar constituency by margin of 18,000 votes.   Vote Share . Congress's vote share is the highest among the all parties. Congress got 31% votes. BJP got 29.5%, AIUDF 13%, IND 11%, AGP 8.1. 2. West Bengal : The ruling Trinmool Congress won West Bengal...

Assam : The exit polls for Assam indicate the positive sign for BJP. All the exit polls are showing majority for BJP. The Assam Legislative Assembly has 126 seats. Here are the exit polls: India Today - Axis : Congress 26-33, BJP 79-93, AIUDF ABP News :  Congress 33, BJP 81, AIUDF 10, Others 2 Times Now - C Voter :   Congress 37-45 , BJP+ 53-61 , AIUDF 14-22 , Others 6-14 NDTV :  Congress 37, BJP 73, AIUDF 12, Others 4 News Nation :  Congress 47-51, BJP 63-67, AIUDF 7-11, Others 2-4 Tamil Nadu : The Tamil Nadu exit polls are not one sided. Some polls are giving DMK, Congress alliance a clean majority while others are giving the ruling AIADMK a clean majority.  The Tamil Nadu Legislative Assembly has 234 seats  Here are the exit polls: India Today - Axis : AIADMK 89-101, DMK+Congress 124-140, BJP 0-3, Others 4-8 Times Now - C Voter :   AIADMK 139, DMK+Congress 78, BJP 0, Others 17 NDTV :  AIADMK 103, DMK+Congress 120, BJP 0,...

The Supreme court on Friday, 13th May declined to de-criminalize the defamation. The court upheld the provision of Indian Penal Code, which makes defamation a criminal offense, which were challanged by Congress Vice President Mr Rahul Gandhi, BJP MP Mr Subramanian Swami, Delhi CM Arvind Kejriwal and other politicians and journalists. The bench of Justice Dipak Misra and  P C Pant observed that the right to reputation under Article 21 of Indian Constitution can not be allowed to be crucified at the alter of freedom of speech.  A bench approved the Constitutional validity of sections 499 and 500 in the Indian Penal Code, underlining that an individual’s fundamental right to live with dignity and reputation “cannot be sullied solely because another individual can have his freedom”. The petitioners, many people from different political parties and many people from press believe that the defamation should be de-criminalized and it should be civil offence alone as it is being mis...

Today on Wednesday, 11th March, the Supreme Court declared the result of the floor test of Uttarakhand Assembly held on 10th March and with this, the crisis ended in Dev Bhoomi. The Harish Rawat led Congress Party got 33 votes and BJP got 28 votes in 61 member Assembly as the 9 rebel MLAs were not allowed to vote in the floor test. After the result declarad by the Supreme Court, the Central Government lifted the President's rule from Uttarakhand and the Congress government restored late on today evening.  The political crisis started in Uttarakhand when the Appropriation Bill was introduced in the Uttarakhand Assembly. The speaker declared the bill as passed by the assembly, but however the BJP and rebel Congress MLAs stated that the bill was not passed by the assembly, hence the Harish Rawat government is the minority government and should resign. On March 18th the 9 rebel Congress MLAs and 27 BJP MLAs met governor K K Paul and sought the dismissal of Congress government. Har...

No language is declared as the National language of India by the Constitution of India . Though majority of people in India have accepted Hindi as a national language, there was nothing on record to suggest that any provision has been made or order issued declaring Hindi as a national language of the country. However the Indian Constitution designates the official language of India as Hindi written in the Devanagari script and English. As per the Article 343 of Indian Constitution, Hindi and English are the official languages of India. Article 343 states that: (1) The official language of the Union shall be Hindi in Devanagari script. The form of numerals to be used for the official purposes of the Union shall be the international form of Indian numerals.  (2)Notwithstanding anything in clause (1), for a period of fifteen years from the commencement of this Constitution, the English language shall continue to be used for all the official purposes of the U...

The important motions that can be introduced in the Parliament of India are: Adjournment Motion: The primary object of an adjournment motion is to draw the attention of the House to a recent matter of urgent public importance having serious consequences and in regard to which a motion or a resolution with proper notice will be too late. The matter proposed to be raised should be of such a character that something very grave which affects the whole country and its security has happened and the House is required to pay its attention immediately by interrupting the normal business of the House. The adjournment motion is thus an extraordinary procedure which, if admitted, leads to setting aside the normal business of the House for discussing a definite matter of urgent public importance.   Where the Speaker is satisfied prima facie that the matter proposed to be discussed is in order under the Rules,...

India launched its seventh and final satellite IRNSS 1-G to create its own GPS system on 28th April 12:50 pm from Sriharikota Andhra Pradesh. IRNSS 1-G is the seventh member of Indian Regional Navigation Satellite System (IRNSS), completing constellation of satellites in geosynchronous and geostationary orbits that will give India its own GPS system. Prime Minister Narendra Modi gave navigation system a new name NavIC - Navigation Indian Constellation . Till now only four countries have their own GPS system: United States, Russia, Europe and China. United States has Global Positioning system, Russia has GLONASS (Global Navigation Satellite System), Europe has Galileo Satellite Navigation and China has BieDou Navigation System. Now once IRNSS is operational, India will join this league and will become the fifth Country with its own GPS system.  All the seven satellites are configured identically. The seventh satellite INRSS 1-G had lift-off mass of 1450 kg and was launched by...