Escolar Documentos
Profissional Documentos
Cultura Documentos
Contents
PREFACE ..................................................................................................................................... 4
A Brief on India: Important Facts to Learn ..................................................................... 5
Chapter 1: Growth and Development ............................................................................... 7
Chapter 2: Measurement of growth: National Income and per capita income ... 9
Chapter 3: Poverty Alleviation and Employment Generation in India................ 13
Chapter 4: Sustainable Development ............................................................................. 16
Chapter 5: Economic Reforms in India........................................................................... 20
Chapter 6: Industrial and Labour Policy ....................................................................... 25
Chapter 7: Monetary and Fiscal Policy ........................................................................... 27
Chapter 8: Privatization/Disinvestment ....................................................................... 34
Chapter 9: Role of Economic Planning. .......................................................................... 36
Chapter 10: Globalization-Opening up of the Indian Economy ............................. 48
Chapter 11: Balance of Payments, Export-Import Policy......................................... 49
Chapter 12: International Economic Institutions – IMF & World Bank ............ 53
Chapter 13: Human Development – Social Sectors in India, Health and
Education. ................................................................................................................................ 56
Chapter 14: A Brief on Economic Survey 2016-17 .................................................... 62
Chapter 15: FDI in India ...................................................................................................... 76
Chapter 16: Financial Statements & Ratios & Price Of Bond .................................. 78
Chapter 17: PRICE OF BOND AND NPV ........................................................................... 90
Chapter 17: Indian Economy Current Affairs .............................................................. 93
Chapter 19: Government Schemes Launched Recently ......................................... 101
Banking examinations have evolved a lot from 2016, with changes in pattern now
bank recruitment exams are dynamic in lieu of their conventional hold. During this
year we have evolved the study material for all bank examinations weather it is SBI
PO, SBI Clerk, IBPS PO, IBPS Clerk, IBPS RRB, NIACL, NICL, RBI Grade B Officer and
Assistant and now we provide you the new edition which caters to the need for
ever-progressing demands and pattern of all Banking recruitment examinations.
The aim of this book is to help students learn and understand the basics and
concepts related to Socio and Economic Studies which will help them to maximize
their scores in the upcoming RBI Officer Grade-B Phase-II competitive examination.
Overall the book is designed and categorised into proper sections of topics
expected to be asked in the RBI Grade B exam with almost every topic explained in
a simple manner to reinforce the concepts in student’s mind covering all important
finance and management topics that are being asked in the current scenario of
bank exams.
The objective is to provide students with the study material for Socio and
Economic section for RBI Grade-B Phase-II examination and encourage them to
be prepared to face toughest questions with a proper strategy. The pattern and
topics included in this edition are at par with the previous year pattern and new
difficulty level to equip candidates with basic knowledge of what to expect in RBI
Grade-B 2017. Our ultimate aim was to help students develop de rigueur skills for
success with proper approach.
We hope that our readers will appreciate our efforts and this book. Any comments
or suggestion for further improvements are welcome wholeheartedly.
Team Adda247
Demographic profile
Population: 1,326,801,000
Population Growth Rate: 1.2 per cent (2015)
Literacy: Total population: 74.04 per cent (provisional data-2011
census)
Male: 82.14 per cent
Female: 65.46 per cent
Life expectancy: 66.9 years (men), 69.9 years (women) (2015 –
WHO 2016 Report)
Economic Profile
• Gross Domestic Product (GDP) Composition by Sector (2016
Estimate)
o Services: 45.4 per cent
o Industry: 29.8 per cent
o Agriculture: 16.5 per cent
• Forex Reserves: US$ 366.78 billion as on March 17, 2017.
• Gross Fixed Capital Formation (GFCF) at current prices: Gross
Fixed Capital Formation (GFCF) at current prices stood at Rs
8,797.63 billion (US$ 135.36 billion) in the fourth quarter of 2016.
• Value of Exports: India's exports stood at US$ 29.23 billion in
March 2017.
• Share of Top Investing Countries FDI Equity
Inflows: Mauritius (34 per cent), Singapore (16 per cent), UK (8
per cent), Japan (8 per cent), USA (6 per cent), Netherlands (6 per
cent) (as in December 2016)
• Major Sectors Attracting Highest FDI Equity Inflows: Services
Sector (18 per cent), Construction Development (8 per cent),
Computer Software and Hardware (7 per cent),
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Telecommunications (7 per cent), Automobile (5 per cent), Drugs
and Pharmaceuticals (4 per cent), Chemical (4 per cent), Trading
(4 per cent) (as in December 2016)
Transportation in India
Airports: Airports Authority of India (AAI) manages 125 airports
in the country, which includes 18 international aerodromes, 78
domestic ones and 26 civil enclaves at defence airfields.
Economic Growth
Continuous increase in the total volume of goods and services
produced by a nation over a long period of time.
Economic Development = Economic Growth + desired changes in
the distribution of national income and other technical and
institutional changes.
If economic growth:
helps in increasing the standard of living i.e. the per capita real
income
helps in eliminating poverty, unemployment & inequalities of
income
leads to implementation of better techniques of production
positive change towards work and life, etc;
then it has led to economic development.
Measuring Growth
Measures of national income and output are used in economics to
estimate the value of goods and services produced in an economy.
Some of the common measures are Gross National Product (GNP)
and Gross Domestic Product (GDP).
Factor Costs
Factor costs are the actual production costs at which goods and
services are produced by the firms and industries in an economy.
They are really the costs of all the factors of production such as
land, labour, capital, energy, raw materials like steel etc. that are
used to produce & given quantity of output in an economy.
Transfer Payments
Transfer payment refers to payments made by government to
individuals for which there no economic activity is produced in
return by these individuals. Examples of transfer are scholarship,
pension.
3. Expenditure Method:
This method focuses on goods and services produced within the
country during one year.
GDP by expenditure method includes:
(1) Consumer expenditure on services and durable and non-
durable goods (C),
(2) Investment in fixed capital such as residential and non-
residential building, machinery, and inventories (I),
(3) Government expenditure on final goods and services (G),
(4) Export of goods and services produced by the people of country
(X),
(5) Less imports (M). That part of consumption, investment and
government expenditure which is spent on imports is subtracted
from GDP. Similarly, any imported component, such as raw
materials, which is used in the manufacture of export goods, is also
excluded.
Thus GDP by expenditure method at market prices = C+ I + G + (X
– M), where (X-M) is net export which can be positive or negative.
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Net Domestic Product (NDP):
NDP is the value of net output of the economy during the year. The
value of this capital consumption is some percentage of gross
investment which is deducted from GDP. Thus Net Domestic
Product = GDP at Factor Cost – Depreciation.
Final Goods
Final goods are goods that are ultimately consumed rather than
used in the production of another good.
The Second Five Year Plan (1956-61) also pointed out that “the
benefits of economic development must accrue more & more to the
relatively less privileged classes of society”.
Also,
The government also has a variety of other social security
programmes to help a few specific groups. National Social
Assistance Programme is one such programme initiated by the
central government. Under this programme, elderly people who do
not have anyone to take care of them are given pension to sustain
themselves. Poor women who are destitute and widows are also
covered under this scheme. The government has also introduced a
few schemes to provide health insurance to poor people.
Note:
The per capita consumption expenditure level which meets the
average per capita daily requirement of 2,400 calories in rural areas
and 2,100 calories in urban areas, along with a minimum of non-
food expenditure, is called poverty line or absolute poverty.
This set of policies can broadly be classified into two groups: the
stabilisation measures and the structural reform measures. In
simple words, this means that there was a need to maintain
sufficient foreign exchange reserves and keep the rising prices
under control. On the other hand, structural reform policies are
long-term measures, aimed at improving the efficiency of the
economy and increasing its international competitiveness by
removing the rigidities in various segments of the Indian economy.
The government initiated a variety of policies which fall under
three heads viz., liberalisation, privatisation and globalisation.
Tax Reforms
Tax reforms are concerned with the reforms in government’s
taxation and public expenditure policies which are collectively
known as its fiscal policy. There are two types of taxes: direct and
indirect. Direct taxes consist of taxes on incomes of individuals as
well as profits of business enterprises. Another component of
reforms in this area is simplification. In order to encourage better
compliance on the part of taxpayers many procedures have been
simplified and the rates also substantially lowered.
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Foreign Exchange Reforms
The first important reform in the external sector was made in the
foreign exchange market. In 1991, as an immediate measure to
resolve the balance of payments crisis, the rupee was devalued
against foreign currencies. This led to an increase in the inflow of
foreign exchange. It also set the tone to free the determination of
rupee value in the foreign exchange market from government
control.
Privatisation
It implies shedding of the ownership or management of a
government owned enterprise. Government companies are
converted into private companies in two ways
GLOBALISATION
Globalisation is generally understood to mean integration of the
economy of the country with the world economy, it is a complex
phenomenon.
It is an outcome of the set of various policies that are aimed at
transforming the world towards greater interdependence and
integration. It involves creation of networks and activities
transcending economic, social and geographical boundaries.
Globalisation attempts to establish links in such a way that the
happenings in India can be influenced by events happening miles
away. It is turning the world into one whole or creating a
borderless world.
Sum Up
In the domestic economy, major reforms were undertaken in the
industrial and financial sectors. Major external sector reforms
included foreign exchange deregulations and import
liberalisation.
Globalisation is the outcome of the policies of liberalisation and
privatisation. It means an integration of the economy of the
country with the world economy.
Outsourcing is an emerging business activity.
The objective of the WTO is to establish a rule based trade regime
to ensure optimum utilisation of world resources.
Industrial Policy
The Industrial Policy Resolution of 1948 defined the broad contours
of the policy delineating the role of the State in industrial
development both as an entrepreneur and authority. This was
followed by comprehensive enactment of Industries (Development
& Regulation) Act, 1951 (referred as IDR Act) that provides for the
necessary framework for implementing the Industrial Policy and
enables the Union Government to direct investment into desired
channels of industrial activity inter alia through the mechanism of
licensing keeping with national development objectives and goals.
The main objectives of the Industrial Policy of the Government are
(i) to maintain a sustained growth in productivity;
(ii) to enhance gainful employment;
(iii) to achieve optimal utilisation of human resources;
(iv) to attain international competitiveness; and
(v) to transform India into a major partner and player in the global
arena.
To achieve these objectives, the Policy focus is on deregulating
Indian industry; allowing freedom and flexibility to the industry in
responding to market forces; and providing a policy regime that
facilitates and fosters growth. Economic reforms initiated since
1991 envisages a significantly bigger role for private initiatives.
Monetary Policy
What is Monetary Policy?
Monetary policy refers to the policy of the central bank with regard
to the use of monetary instruments under its control to achieve the
goals specified in the Act. Reserve Bank of India (RBI) is vested
with the responsibility of conducting monetary policy. This
responsibility is explicitly mandated under the Reserve Bank of
India Act, 1934.
What is MPC?
Section 45ZB of the amended RBI Act, 1934 provides for an
empowered six-member monetary policy committee (MPC) to be
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constituted by the Central Government. The Members of the
current MPC are as follows:
1. Governor of RBI – Chairperson, ex officio;
2. Deputy Governor of RBI, in charge of Monetary Policy –
Member, ex officio;
3. One officer of RBI to be nominated by the Central Board –
Member, ex officio;
4. Shri Chetan Ghate, Professor, Indian Statistical Institute (ISI) –
Member;
5. Professor Pami Dua, Director, Delhi School of Economics –
Member; and
6. Dr. Ravindra H. Dholakia, Professor, Indian Institute of
Management, Ahmedabad – Member.
(Members referred to at 4 to 6 above, will hold office for a period of
four years or until further orders, whichever is earlier.)
The MPC determines the policy interest rate required to achieve the
inflation target. RBI's Monetary Policy Department (MPD) assists
the MPC in formulating the monetary policy. Financial Markets
Operations Department (FMOD) operationalises the monetary
policy, mainly through day-to-day liquidity management
operations.
Repo Rate: The (fixed) interest rate at which the Reserve Bank
provides overnight liquidity to banks against the collateral of
government and other approved securities under the liquidity
adjustment facility (LAF).
Bank Rate: It is the rate at which the Reserve Bank is ready to buy
or rediscount bills of exchange or other commercial papers. The
Bank Rate is published under Section 49 of the Reserve Bank of
India Act, 1934. This rate has been aligned to the MSF rate and,
therefore, changes automatically as and when the MSF rate changes
alongside policy repo rate changes.
Cash Reserve Ratio (CRR): The average daily balance that a bank
shall maintain with the Reserve Bank as a share of such per cent of
its NDTL that the Reserve Bank may notify from time to time in the
Gazette of India.
PUBLIC REVENUES
The income of the Government through all sources is called public
income or public revenue. Public revenue refers to income of a
Government from all sources raised, in order to meet public
expenditure. Public revenue consists of taxes, revenue from
administrative activities like fines, fees, income from public
enterprises, gifts and grants. Public Receipts includes public
revenue plus the receipts from public borrowings, the receipts from
sale of public assets & printing & issuing new currency notes. It
includes other sources of public income along with public revenue.
Public Revenue can be classified as Tax Revenue and Non -Tax
Revenue.
PUBLIC EXPENDITURE
Public Expenditure refers to Government Expenditure. It is
incurred by Central and State Governments. The Public
Expenditure is incurred on various activities for the welfare of the
people and also for the economic development.
PUBLIC DEBT
Public debt refers to Government debt. It refers to Government
borrowings from individuals, financial institutions, organizations
and foreign countries. If revenue collected through taxes and other
sources is not adequate to cover expenditure, the Government may
resort to borrowings. Thus public debt is one of the instruments to
cover deficits in budget.
The economy was only able to achieve the growth rate of 5.5% as
compared to the target which was set to 6.5%.
A Brief on IMF
The International Monetary Fund (IMF) is an organization of 189
countries, working to foster global monetary cooperation, secure
financial stability, facilitate international trade, promote high
employment and sustainable economic growth, and reduce
poverty around the world.
Formed in 1944 at the Bretton Woods Conference primarily by
the ideas of Harry Dexter White and John Maynard Keynes, it
came into formal existence in 1945 with 29 member countries and
the goal of reconstructing the international payment system.
Membership: 189 countries
Headquarters: Washington, D.C.
What is SDR?
A new plan of international reserves, known as SDRs was
established in 1969. The SDRs have only limited use as a reserve
asset. Its main function is to serve as the unit of a/c of the IMF.
The World Bank Group has set two goals for the world to achieve
by 2030:
a) End extreme poverty by decreasing the percentage of people
living on less than $1.90 a day to no more than 3%
b) Promote shared prosperity by fostering the income growth of the
bottom 40% for every country
Note: Dr. Jim Yong Kim became the 12th President of the World
Bank Group on July 1, 2012.
Government Initiatives
❖ In the Union Budget 2017-18, the overall health budget increased
from INR 39,879 crore (US$ 5.96 billion) (1.97% of total Union
Budget) to INR 48,878 crore (US$ 7.3 billion) (2.27% of total
Union Budget). In addition, the Government of India made
following announcements in the Union Budget 2017-18:
Harmonise policies and rules for the medical devices industry to
encourage local manufacturing and move towards improving
affordability for patients.
Modify the Drugs and Cosmetics Act to promote generics and
reduce the cost of medicines.
Set up two new All India Institute of Medical Sciences (AIIMS) in
Gujarat and Jharkhand.
Convert 1.5 lakh sub centres in Indian villages to health and
wellness centres
Set short and medium term targets for key health indicators and
bring down the Maternal Mortality Rate to 100 by 2018-2020 and
Infant Mortality Rate to 28 by 2019.
Prepare action plans to eliminate Kala Azar and Filariasis by
2017, leprosy by 2018, measles by 2020 and tuberculosis (TB) by
2025.
Government Initiatives
The Union Budget 2017-18 has made the following provisions for
the education sector:
a) The Budget has pegged an outlay of Rs 79,685.95 crore (US$
11.952 billion) for the education sector for financial year 2017-
18, up from Rs 72,394 crore (US$ 10.859 billion) in 2016-17—a
9.9 per cent rise.
b) The Government of India has allocated around Rs 17,000 crore
(US$ 2.55 billion) towards skilling, employment generation,
and providing livelihood to millions of youth, in order to boost
the Skill India Mission.
The Government of India and the World Bank have signed a US$
201.50 million International Development Association (IDA)
credit agreement for the Third Technical Education Quality
Improvement Programme (TEQIP III), aimed at improving the
Fiscal
• Indirect taxes grew by 26.9 per cent during April-November
2016.
• The strong growth in revenue expenditure during April-
November 2016 was boosted mainly by a 23.2 per cent increase
in salaries due to the implementation of the Seventh Pay
Commission and a 39.5 per cent increase in the grants for
creation of capital assets.
FISCAL DEFICIT
2015-16 fiscal deficit, seen at 3.9 per cent of GDP, seems achievable.
Credibility and optimality argue for adhering to 3.5 per cent of
GDP fiscal deficit target.
External Debt
• At end-September 2016, India’s external debt stock stood at US$
484.3 billion, recording a decline of US$ 0.8 billion over the level
at end-March 2016.
• Most of the key external debt indicators showed an
improvement in September 2016 vis-à-vis March 2016. The share
of short-term debt in total external debt declined to 16.8 per cent
at end-September 2016 and foreign exchange reserves provided
a cover of 76.8 per cent to the total external debt stock.
Agriculture
Industry
• Growth rate of the industrial sector is estimated to moderate to
5.2 per cent in 2016-17 from 7.4 per cent in 2015-16. During April-
November 2016-17, a modest growth of 0.4 per cent has been
observed in the Index of Industrial Production (IIP).
Services
• Service sector is estimated to grow at 8.9 per cent in 2016-17,
almost the same as in 2015-16. It is the significant pick-up in
public administration, defence and other services, boosted by the
payouts of the Seventh Pay Commission that is estimated to push
up the growth in services.
2. As per the Survey, the total area coverage under Rabi crops as
on 13.01.2017 for 2016-17 is?
Answer. 616.2 lakh hectares
5. As per the survey, the GDP growth at constant prices for the
year 2017-18 to be expected between?
Answer. 6.75 % to 7.5%
14. As per the survey, the current account deficit in the year 2016-
17 seen at around how much percent of GDP?
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Answer. 1-1.5 per cent
Government Initiatives
The Union Cabinet has approved raising of bonds worth Rs 2,360
crore (US$ 365.63 million) by the Indian Renewable Energy
Development Agency (IREDA), which will be used in various
renewable energy projects in FY 2017-18.
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The Ambassador of Japan to India, Mr Kenji Hiramatsu, has
conveyed Government of Japan's inclination to invest and offer
any other feasible support for various ongoing as well as
upcoming development and infrastructure projects in the North-
Eastern region of India.
The Government of India plans to scrap the Foreign Investment
Promotion Board (FIPB), which would enable the foreign
investment proposals requiring government approval to be
cleared by the ministries concerned, and thereby improve the
ease of doing business in the country.
The Government of India has approved 100 per cent foreign
direct investment (FDI) in other financial services carried out by
non-banking finance companies (NBFCs), which is expected to
attract more foreign capital into the country.
The Department of Industrial Policy and Promotion (DIPP) has
allowed 100 per cent foreign direct investment (FDI) in asset
reconstruction companies (ARC) under automatic route, which
will help to tackle the issue of declining asset quality of banks.
The government has also raised FDI cap in insurance from 26 per
cent to 49 per cent through a notification issued by the DIPP. The
limit is composite in nature as it includes foreign investment in
the form of foreign portfolio investment, foreign institutional
investment, qualified foreign investment, foreign venture capital
investment, and non-resident investment.
India’s cabinet cleared a proposal which allows 100 per cent FDI in
railway infrastructure, excluding operations. Though the initiative
does not allow foreign firms to operate trains, it allows them to
invest in areas such as creating the network and supplying trains
for bullet trains etc.
BALANCE SHEET
A balance sheet can be defined as a statement of assets and
liabilities / financial position of a business concern on a given date
say March 31.
Liabilities are the resources (sources of funds) which the business
mobilises to acquire assets for earning income. Assets are the tools
with the help of which, income in a business is earned. The total of
liabilities would always be equal to the total of assets.
LIABILITIES
Owned funds
Proprietor’s capital or paid-up share capital
Reserves
Contingent Liabilities
These liabilities are not shown in the body of balance sheet but are
recorded as a footnote. These are also called off-balance sheet
items because of this reason. They are called contingent because
their possibility of becoming a funded liability or not, depends
upon the fulfillment or non-fulfillment of certain conditions. These
liabilities include:
Pending law suits.
Claims against the organisation not acknowledged as debt.
Guarantees given by the organisation on behalf of others.
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Letters of Credit issued by the banks on behalf of the
organisation.
Guarantees issued by banks on behalf of the organisation.
Taxes and duties under dispute with the Govt.
Bills and cheques discounted by banks, in case these have
already been accounted for on cash basis.
ASSETS
Assets are the properties owned by a business and are acquired to
use them for generation of income through operations.
Fixed Assets or Block Assets
These are the assets which are of relatively permanent nature
and they are not disposed off within a short period. The
examples are land, buildings and structures, machinery, tools
and equipment of all type, vehicles, furniture and fixtures,
capital work in progress.
Advances against fixed assets and other assets of long term
nature, which will become fixed assets after some time, are part
of Non-current Assets.
Current Assets
These are the assets which are required by the business for the
purpose of re-sale and are re-circulating
and arise out of usual business dealings. They are held temporarily
for subsequent conversion into cash maximum within a period of
12 months.
The following types of assets could be classified as current assets:
Cash and bank balances
Investments in quoted/tradable Govt. and other trustee
securities and fixed deposits with banks,
Intangible Assets
Certain assets in business don’t have any physical presence or in
other words these are just book entries created with certain specific
objectives. In order to account for the cost incurred on such
expenses, they are shown as assets in the books, a few examples of
which may be as under:
Goodwill,
Patents,
Copyrights,
Trade marks, etc.
LIQUIDITY RATIOS
The ratio which indicate the liquidity of the firm are current ratio,
acid test ratio or quick ratio and net working capital.
Current Ratio
The current ratio is the relationship between the current assets and
current liabilities. It can be worked out as under: Current assets /
Current liabilities
Debt-Equity Ratio
The ratio is important one since it shows the dependence of the
unit on outside long term finance.
It can be worked out as under:
Long term outside liabilities/Tangible net worth
(Here long term outside liabilities are liabilities of long term nature
and tangible net worth is total of capital and reserves and surplus
reduced by intangible assets)
Higher the ratio, more the pressure on the liquidity, when
repayment of liabilities falls due. Lower the debt equity of a firm
compared to another firm, the better it is.
ACTIVITY RATIOS
These ratios measure the efficiency of the organisation in using the
available funds, particularly the funds raised on short term basis.
The following ratios could be worked out:
Inventory turnover:
Sales / Average stocks (average of opening and closing stocks)
Debtor turnover:
Sales / average debtors (average of opening and closing
receivables)
Fixed assets turnover:
Sales / Fixed assets.
Current assets/ working capital turnover
Net sales / average working capital i.e. current assets
Debtors’ velocity or debt collection period
Average Book-debts / sales × 12
Creditors’ velocity or Creditor’s payment period
Average creditors/ purchases × 12
PROFITABILITY RATIOS
Return on equity
The ratio can be worked out as under: Net profits / owned funds
(or tangible net worth) × 100
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Gross Profit & Net Profit Ratio
The gross profit is considered to be the surplus of sales over
the cost of goods sold and the ratio can be worked out as
under: Gross Profit / Net Sales × 100
The net profit is the surplus of gross profit after meeting other
expenses. The ratio can be worked out as under: Net profit* /
Sales × 100
*The net profit could be before or after tax.
PV = Present Value
FV = Future Value
i = interest rate per time period
n = number of time periods
(1 + i)n − 1
FVOA = A ∗
i
Here
A= Annuity
NITI-Aayog-launched-SATH-programme
NITI Aayog has launched SATH, a program providing
‘Sustainable Action for Transforming Human capital’ with the
State Governments.
The vision of the program is to initiate transformation in the
education and health sectors. It addresses the need expressed by
states for technical support from NITI.
SATH aims to identify and build three future ‘role model’ states
for health systems. NITI will work in close collaboration with
their state machinery to design a robust roadmap of
intervention, develop a program governance structure, set up
monitoring and tracking mechanisms, hand-hold state
institutions through the execution stage and provide support on
a range of institutional measures to achieve the end objectives.
Union Minister of State (IC) for Power, Coal, New & Renewable
Energy and Mines, Shri Piyush Goyal launched the Saral
Eindhan Vitaran Application (SEVA), developed in-house by
Coal India Limited (CIL) for power sector consumers.
SEVA is a part of ‘Digital India’ initiative, which is aimed at
increasing the Consumer Connect as well as the Transparency
and Accountability in Coal dispatch.
By using this app the common man would be able to hold the
Government accountable for the coal linkage allocations and
would be able to check any pilferage or inefficiencies in coal
consumption for power generation. This would lead to
rationalization of coal linkages and finally reduction in the
power prices in the country.