The Things You Should Know

The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 is popularly known as Forest Rights Act 2006. The bill was introduced by the then UPA (United Progressive Alliance) government in the Lower House of the Parliament (Lok Sabha) on December 13, 2005. The bill was passed by the Parliament on 18th December, 2006. The main objective of this bill was to recognise and vest the forest rights and occupation in forest land in forest dwelling Scheduled Tribes and other traditional forest dwellers who have been residing in such forests for generations but whose rights could not be recorded; to provide for a framework for recording the forest rights so vested and the nature of evidence required for such recognition and vesting in respect of forest land. The recognised rights of the forest dwelling Scheduled Tribes and other forest dwellers include the responsibility and authority of sustainable use, conservation of biodiversity and maintenance of...

The financial inclusion has always remain the high priority for all the governments after independence. But it has been a huge challenge for the government specially in the rural regions. Nationalisation of banks in 1980 by the Indira Ganghi government gave huge boost to the financial inclusion program. Swabhimaan is a path breaking initiative by the government of India and Indian Banks'association to bridge the gap between the rural India and urban India. The main objective of Swabhimaan Yojna is to take the banking system to door steps of the remote village where the banking facility is not available and to bring the deprived sections of the society in the banking network to ensure that the benefits of economic growth reach everyone at all levels. It was the big step towards socio-economic equality by bringing the underprivileged segments of Indian population into the formal banking fold for the first time. The Swabhimaan Yojna was launched by the UPA (United Progressi...

What is Devaluation of Currency?   The devaluation of currency means officially lowering the value of the currency with respect to the foreign exchange currency within a fixed exchange rate system and the monetary authority sets the new value of exchange rate with respect to the foreign currency. Rupee Devaluation 1991: The end of the year 1990 and the beginning of 1991 was very crucial time for India. India was going through its biggest financial crisis. The new government led by P. V. Narasimha Rao took charge at the Delhi after 1991 general elections. The government was close to default and its foreign exchange reserves had dried upto the point that India could barely afford the three week's worth of imports. The problem began in the middle 80's when the total imports of the country started to overtook the total exports of the country. It was not the condition that export was its lowest level, even as the exports continued to grow through the late 80's, intere...