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Yogita Ingle 5 years, 11 months ago
The four anti-poverty programmes are
(i) National Rural Employment Guarantee Act (NREGA) 2005, which provides 100 days assured employment per year to rural households in 200 districts initially.
(ii) National Food for Work Programme (NFWP) 2004 was launched in 150 most backward districts of the country. It is open to all rural poor who are in need of wage employment.
(iii) Prime Minister Rozgar Yojana (PMRY) 1993 and Rural Employment Generation Programme (REGP) 1995 were started to create self-employment opportunities for educated youth in rural areas and small towns.
(iv) Swarnajayanti Gram Swarozgar Yojana (SGSY) 1999 aims at bringing the poor families above poverty line by organizing them into self help groups through bank credit and government subsidy.
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Yogita Ingle 5 years, 11 months ago
Before evolution of money, goods were exchanged for goods, this system of exchange was known as barter system.
The major drawbacks of the barter system were:
(i) Lack of double coincidence of wants It was a major drawback of the barter system. It was very rare when the owner of some goods or services could find someone who wanted his goods or services and possessed that goods or services that the first person wanted. No exchange was possible, if the double coincidence of wants was not there.
(ii) Lack of common measure of value In barter system, there was absence of a common unit of measurement in which the value of goods and services can be measured. In the absence of common unit, proper valuation was not possible.
(iii) Lack of standard for deferred payments Deferred payment means future payments. In barter system, it was difficult to return value in future in terms of goods of same quantity and quality. Therefore, future , payments regarding interest and loans became difficult.
(iv) Lack of store of value Due to absence of money in barter system, wealth was stored in terms of goods. Storing of goods carried some problems like cost of storage, loss of value, transfer from one place to other, etc. So, in case of commodities, it was difficult for people to store their purchasing power.
(v) Lack of divisibility In commodity exchange, difficulty of dividing the commodity has been arised. e.g. if car is to be exchanged for a scooter, then car cannot be divided. Similarly, animals cannot be divided into smaller units.
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Yogita Ingle 5 years, 11 months ago
The Central Bank is the apex institute that aids in the optimum management of currency and money flow within a market. However, it is also the center for last resort which lends money to the banking sector during a financial crisis.
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