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1. Supply side measures (ex. subsidies, MSP, restrictions on export etc.) show result only in long run
2. Government does not control Crude Oil prices
3. If government reduces expenditure it can adversely affect development activities
4. If government follows dear money policy banks won't lend much and firms will be starved of investment
Consumer Price Indices (CPI) measures change over time in general level of prices of goods and services that households acquire for the purpose of consumption.The Price Statistics Division (PSD) of the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) started compiling Consumer Price Index (CPI) separately for rural, urban, and combined sectors on monthly basis with Base Year (2010=100) for all India and States/UTs with effect from January 2011. It revised the Base Year of the CPI from 2010=100 to 2012=100, incorporating many methodological improvements in consonance with the international practices with effect from January, 2015.
- Persistent increase in price level

- Reduction in rate of inflation without any adverse impact on national income output employment etc.
- Price level increases but at lower rate
- Desirable to some extent

- Persistent decrease in price level
- inflation rate becomes negative
- Opposite to inflation
Wholesale Price Index

1. It shows the general role of inflation in the economy
2. Based on wholesale prices of selected good (not services) from selected market
3. Goods cost cheaper in wholesale market than retail shops
4. Every commodity first goes to wholesale market before reaching the public
5. WPI takes into account 697 commodities
6. It is constructed/ estimated by the office of economic advisor
7. Department for promotion of industry and internal trade (DPIIT)
8. Not affected by any change in the fiscal policy
9. Estimated at monthly intervals (till 2009 it was weekly)
10. Indirect taxes are not included (Since 2017)
11. WPI food index was introduced (in 2017)

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- Monetary policy
- Central bank sets a specific inflation rate as its goal
- New Zealand was the first country to adopt it
- Committee headed by Urjit Patel recommended -
- Inflation Targeting based on CPI
- Flexible inflation target to be set by GOI once in every 5 year
- It will be official goal of RBI
- The target being set is 4% with a +/- 2% band.
— Process whereby a state lifts restrictions on some private individual activities.
— Occurs when something which used to be banned is no longer banned
— Or when government regulations are relaxed.
— It means to free the economy from the direct and physical control imposed by the government.

— Converting public companies into private companies
— By Withdrawal of government ownership or management
— OR Outright sale of government companies

It means integration of the economy of country with world’s economy.

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— Pygmy Hog: Assam
— Kondhana Rat: Endemic to Western Ghats Only 1 sq km CE
— Slow Loris
— Flying Squirrel
— Red Panda: Himalayas
— Asiatic Lion: Gujarat
— Nilgiri Tahr: Soutern portion of W and E ghats
— Malabar Civet: CE - endemic to western ghats
— Indian Wild Ass: Kutch

Follow @indiashastra Important for prelims 2023
- Scientific Name: Prionailurus viverrinus
- It is about twice the size of a typical house cat
- A good swimmer, enters water frequently to prey
- Habitat: Wetlands
- state animal of West Bengal
- In India,
- In the mangrove forests of the Sundarbans,
- Along the Ganga Brahmaputra river valley
- The Western Ghats
- Nocturnal and apart from fish also preys on frogs, crustaceans, snakes, birds, and scavenges on carcasses of larger animals
- capable of breeding all year round
- IUCN Red List: Endangered
- CITES: Appendix II
- Wildlife (Protection) Act, 1972: Schedule I
- largest of all the different kinds of penguin
- Endemic to Antarctica
- Group of aquatic flightless birds.
- live almost exclusively in the Southern Hemisphere, with only one species
- IUCN status- near threatened status
- Dozens of countries had backed giving the world’s largest penguins special protection status at a 10-day meeting in Berlin of parties to the Antarctic Treaty
- The treaty was forged in 1959 to ensure that the continent remains the preserve of science, and free of arms.

1. Wildlife Institute of India was established in 1986
2. autonomous Institute of the MoEFCC
3. A premier training and Research institution in the field of wildlife and protected area management
4. Where? in South and Southeast Asia.
5. Provide advisory based on quality information and knowledge products

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1. Statutory + Advisory body
2. The face of the Animal Welfare Movement in the country for the last 50 years.
3. The animal welfare Board of India is a statutory advisory body on animal welfare laws
4. Promotes animal welfare in the country.
5. Established in 1962 under Section 4 of The Prevention of Cruelty to Animals Act,1960.
6. Started under the stewardship of late Smt Rukmini Devi Arundale a well-known humanitarian.
7. Board ensures that animal welfare laws in the country are diligently followed
8. Provides grants to Animal Welfare Organisations
9. Advises the Government of India on animal welfare issues
10. Ensuring prevention of Cruelty to Animals
11. Taking steps (advising govt to make law) to minimising sufferings of the animals
Basic Structure Article 368 About Amending Constitution

Shankari Prasad 1951: Parliament can amend FR with Article 368

Golak nath 1967: No FR cannot be amended

Kesavanada Bharati Case 1973: FR can be amended but no basic structure can’t be changed

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Minerva Mills Case 1980: Reaffirmed basic structure doctrine

1. Second-highest constitutional post
2. U/A 63
3. Elected by method of indirect election
4. Name seconded by at least 25 members
5. More than 35 years of age.
6. Elected by the members of LS & RS at a joint meeting.
7. Oath before the president or other person appointed by him.
8. Can act as President for a maximum 6 months period.
9. Not a member of Rajya sabha only an ex- officio chairman.
Electoral Bonds (EB)

Electoral Bonds are instruments through which anyone can donate money to political parties. Such bonds are sold in multiples of ₹ 1k, ₹ 10k, ₹ 100k, ₹ 10 Lakh, and ₹ 1 crore. Can be purchased from authorised branches of SBI. No cash payment only cheque or digital method. After purchasing the bond the donor can give the bond to party of his choice. Name of the donor remains anonymous and political parties can encash such bonds within 15 days.
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Article 72 → Pardoning Power of the President

- Pardon → Completely absolves the offender from all the punishment and conviction.
- Reprieve → Temporary stay on execution of sentence .
- Respite → Awarding a lesser punishment on special grounds.
- Remission → Reduce the length of the sentence without changing its character.
- Commutation → Substitution of one form of punishment for another which is lighter.

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- Only president can pardon death or court martial sentence not governor.
- Power under Article 72 are executive powers and not judicial power of the President.
- President is not a court of appeal under Article 72 and may deny taking an appeal also.