Question
&nbsp;
With reference to Deputy Speaker of Lok Sabha, consider the following statements:
&nbsp;
1. As per the Rules of Procedure and Conduct of Business in Lok Sabha, the election of Deputy&nbsp;Speaker shall be held on such date as the Speaker may fix. 2. There is a mandatory provision that the election of a candidate as Deputy Speaker of Lok Sabha&nbsp;shall be from either the principal opposition party or the ruling party. 3. The Deputy Speaker has the same power as of the Speaker when presiding over the sitting of the&nbsp;House and no appeal lies against his rulings. 4. The well-established parliamentary practice regarding the appointment of Deputy Speaker is that&nbsp;the motion is moved by the Speaker and duly seconded by the Prime Minister.
&nbsp;
Which of the statements given above are correct?
&nbsp;
A. 1 and 3 only B. 1, 2 and 3 C. 3 and 4 only D. 2 and 4 only
&nbsp;
Answer
&nbsp;
The correct answer is A. 1 and 3 only
&nbsp;
The election of the Deputy Speaker in the Lok Sabha is regulated by Rule 8 of The Rules of Procedure and Conduct of Business in Lok Sabha. According to this rule, the election is scheduled for a date determined by the Speaker, and the Deputy Speaker is elected once a motion proposing their name is passed.
&nbsp;
Historically, until the 10th Lok Sabha, both the Speaker and the Deputy Speaker were typically from the ruling party. However, since the 11th Lok Sabha, there has been a consensus that the Speaker comes from the ruling party or ruling alliance, while the position of Deputy Speaker is offered to the main opposition party.
&nbsp;
As per Article 95(1), in the absence of the Speaker, the Deputy Speaker assumes the duties of the office and possesses the same powers as the Speaker when presiding over a session of the House. Any reference to the Speaker in the Rules is deemed to apply to the Deputy Speaker when they are presiding. Moreover, no appeal can be made to the Speaker against a ruling issued by the Deputy Speaker or any other person presiding over a session in the absence of the Speaker.
&nbsp;
The established parliamentary practice entails that a motion is proposed by the Parliamentary Affairs Minister and seconded by members from the treasury benches or the opposition. The motion is then carried by the House in accordance with the usual procedures.

Deputy Speaker of Lok Sabha - UPSC Prelims 2022 Question

Question
&nbsp;
With reference to Ayushman Bharat Digital Mission, consider the following statements:
&nbsp;
1. Private and public hospitals must adopt it. 2. As it aims to achieve universal health coverage, every citizen of India should be part of it ultimately. 3. It has seamless portability across the country.
&nbsp;
Which of the statements given above is/are correct?
&nbsp;
A. 1 and 2 only
B. 3 only C. 1 and 3 only D. 1, 2 and 3
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;B. 3 only
&nbsp;
Participation in the Ayushman Bharat Digital Mission (ABDM) by healthcare facilities or institutions is voluntary and is at the discretion of their respective management, whether it is government or private management.
&nbsp;
The ABDM aims to establish a comprehensive national digital health ecosystem that facilitates universal health coverage in a manner that is efficient, accessible, inclusive, affordable, timely, and secure. It intends to provide a wide range of data, information, and infrastructure services by leveraging open, interoperable, standards-based digital systems while ensuring the security, confidentiality, and privacy of health-related personal information. However, it is not compulsory for all citizens to obtain an Ayushman Bharat Health Account (ABHA) Number. Individuals who wish to participate in the Ayushman Bharat Digital Mission and desire to have their healthcare records available in a digital format can create an ABHA Number.
&nbsp;
The Ayushman Bharat Digital Mission (ABDM) will have a nationwide presence and enable seamless portability of health records across the country through the use of a Health ID - a unique personal health identifier. The adoption of Health Information Standards will play a crucial role in achieving national portability within the mission.

Ayushman Bharat Digital Mission - UPSC Prelims 2022 Question

Question
&nbsp;
With reference to the writs issued by the Courts in India, consider the following statements:
&nbsp;
1. Mandamus will not lie against a private organization unless it is entrusted with a public duty. 2. Mandamus will not lie against a Company even though it may be a Government Company. 3. Any public minded person can be a petitioner to move the Court to obtain the writ of Quo&nbsp;Warranto.
&nbsp;
Which of the statements given above are correct?
&nbsp;
A. 1 and 2 only B. 2 and 3 only C. 1 and 3 only D. 1, 2 and 3
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;C. 1 and 3 only
&nbsp;
The Supreme Court, in the case of Binny Ltd. and Anr. v. V. Sadasivan and Ors, ruled that a writ of mandamus can be used against a private entity, but only if there is a public law aspect involved, and it cannot be used to enforce a purely private agreement between parties. The scope of mandamus depends on the nature of the obligation being enforced, rather than the authority against whom it is sought. If a private entity is performing a public function, and the denial of any right is connected to the public duty assigned to such an entity, the public law remedy can be enforced.
&nbsp;
Mandamus is a term that literally means &lsquo;we command&rsquo;. It is a directive issued by the court to a public official, requiring them to perform their official duties, which they have failed or refused to perform. It can be used against any public body, corporation, inferior court, tribunal, or government company, for the same purpose.
&nbsp;
Furthermore, the writ of quo warranto can be requested by any interested person, and not just the aggrieved party.

Writs Issued by the Courts - UPSC Prelims 2022 Question

Question
&nbsp;
Consider the following statements:
&nbsp;
1. Attorney General of India and Solicitor General of India are the only officers of the Government who are allowed to participate in the meetings of the Parliament of India. 2. According to the Constitution of India, the Attorney General of India submits his resignation when&nbsp;the Government which appointed him resigns.
&nbsp;
Which of the statements given above is/are correct?
&nbsp;
A. 1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2
&nbsp;
Answer
&nbsp;
The correct answer is D. Neither 1 nor 2
&nbsp;
The Attorney General of India has the privilege of presenting arguments in all courts within the territorial jurisdiction of India while performing his official duties. Additionally, as stated in Article 88, the Attorney General is entitled to speak and participate in the proceedings of both Houses of Parliament, as well as any parliamentary committee where he may be appointed as a member. However, he does not possess the right to vote in these proceedings. On the other hand, the Solicitor General does not have a similar right to participate in parliamentary meetings.
&nbsp;
The Attorney General serves in his position at the pleasure of the President, which means he can be removed from office by the President at any time. Similarly, he also has the option to resign by submitting his resignation to the President. It is customary for the Attorney General to resign when the government (council of ministers) resigns or is replaced, as his appointment is based on their advice. This practice is a convention followed in accordance with the functioning of the government, and it is not explicitly mentioned in the Constitution of India.

Attorney General and Solicitor General of India - UPSC Prelims 2022 Question

Question
&nbsp;
With reference to anti-defection law in India, consider the following statements:
&nbsp;
1. The law specifies that a nominated legislator cannot join any political party within six months of&nbsp;being appointed to the House. 2. The law does not provide any time-frame within which the presiding officer has to decide a&nbsp;defection case.
&nbsp;
Which of the statements given above is/are correct?
&nbsp;
A. 1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;B. 2 only
&nbsp;
According to the Anti-defection Law, a nominated member of a House will be disqualified from being a member if they join any political party after six months from the date they take their seat in the House. However, it is permissible for them to join a political party within the first six months of becoming a member.
&nbsp;
In cases where there is a question regarding disqualification due to defection, the decision is made by the presiding officer of the House. The law does not specify a specific time-frame within which the presiding officer must decide a defection case. The determination of such cases is left to the discretion of the presiding officer, taking into account the relevant facts and circumstances.
&nbsp;
This provision of the Anti-defection Law aims to maintain the integrity and stability of the legislative process by discouraging defection and ensuring that elected representatives do not switch political affiliations for personal or opportunistic reasons. It sets a timeframe for nominated members to adhere to their non-partisan status and provides the presiding officer with the authority to make decisions on defection cases in a manner that upholds the spirit of the law.

Anti-defection Law - UPSC Prelims 2022 Question

Question
&nbsp;
Which of the following is/are the exclusive power(s) of Lok Sabha?
&nbsp;
1. To ratify the declaration of Emergency 2. To pass a motion of no-confidence against the Council of Ministers 3. To impeach the President of India
&nbsp;
Select the correct answer using the code given below:
&nbsp;
A. 1 and 2 B. 2 only C. 1 and 3 D. 3 only
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;B. 2 only
&nbsp;
The approval of both Houses of Parliament is required for all types of emergencies. In the case of a National Emergency, the proclamation must be approved by both Houses within one month from the date of its issue. Similarly, a proclamation imposing President's Rule must be approved by both Houses within two months, and a proclamation declaring a financial emergency must also be approved within two months.
&nbsp;
Moving a no-confidence motion is exclusive to the Lok Sabha and cannot be initiated in the Rajya Sabha. Any member of the Lok Sabha can propose a no-confidence motion, and the procedure for doing so is outlined in Rule 198 of the Rules of Procedure and Conduct of the Lok Sabha.
&nbsp;
Impeachment charges against the President can be initiated by either House of Parliament. If the charges are sustained by the other House and an impeachment resolution is passed with a two-thirds majority of the total membership, then the President is removed from office starting from the date the resolution is passed.
&nbsp;
These provisions ensure that important decisions and actions related to emergencies, motions of no-confidence, and impeachment are subject to the scrutiny and approval of both Houses of Parliament. This ensures democratic accountability and upholds the principles of checks and balances in the functioning of the Indian government. By requiring the support of both Houses, these processes reflect the significance of collective decision-making and consensus-building in the legislative branch of the Indian democracy.

Exclusive Powers of Lok Sabha - UPSC Prelims 2022 Question

Question
&nbsp;
Consider the following statements:
&nbsp;
1. The Constitution of India classifies the ministers into four ranks viz. Cabinet Minister, Minister of&nbsp;State with Independent Charge, Minister of State and Deputy Minister. 2. The total number of ministers in the Union Government, including the Prime Minister, shall not exceed 15 percent of the total number of members in the Lok Sabha.
&nbsp;
Which of the statements given above is/are correct?
 A. 1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;B. 2 only
&nbsp;
The Council of Ministers in India comprises three categories of ministers: Cabinet Ministers, Ministers of State, and Deputy Ministers. While the Constitution does not explicitly mention the size and classification of the Council of Ministers, its three-tier structure is based on the conventions of parliamentary government developed in Britain. However, this classification has received legislative validation through the Salaries and Allowances Act of 1952. According to this act, a 'minister' is defined as a 'member of the council of ministers, by whatever name called, and includes a deputy minister'.
&nbsp;
In order to regulate the size of the Council of Ministers, the 91st Constitutional Amendment Act of 2003 introduced provisions. As per these provisions, the total number of ministers, including the Prime Minister, in the Central Council of Ministers cannot exceed 15 percent of the total strength of the Lok Sabha.
&nbsp;
This amendment was made to bring about greater efficiency and accountability in the functioning of the Council of Ministers. By setting a limit on the size of the Council, it aims to prevent unwarranted expansion and ensure that the Council remains focused and effective in its decision-making processes.
&nbsp;
The constitutional provision to limit the size of the Council of Ministers reflects the principles of good governance and the need for responsible administration. It encourages the formation of a compact and competent team of ministers who can efficiently address the needs and aspirations of the nation.

Council of Ministers - UPSC Prelims 2022 Question

Question
&nbsp;
Consider the following statements:
 1. A bill amending the Constitution requires a prior recommendation of the President of India. 2. When a Constitution Amendment Bill is presented to the President of India, it is obligatory for the&nbsp;President of India to give his/her assent. 3. A Constitution Amendment Bill must be passed by a special majority and there is no provision for&nbsp;Joint Sitting.
&nbsp;
Which of the statements given above are correct?
&nbsp;
A. 1 and 2 only B. 2 and 3 only C. 1 and 3 only D. 1, 2 and 3
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;B. 2 and 3 only
&nbsp;
The process of amending the Indian Constitution is outlined in Article 368. According to this provision, a Constitutional Amendment bill can be introduced by either a minister or a private member of Parliament, without requiring prior permission from the President.
&nbsp;
Once the bill has been passed by both the Houses of Parliament and, where necessary, ratified by the state legislatures, it is presented to the President for assent. The President is obligated to give assent to the bill and does not have the power to withhold it or send it back to Parliament for reconsideration.
&nbsp;
To become law, the bill must be passed separately by both Houses of Parliament with a special majority. If there is a disagreement between the two Houses, there is no provision for convening a joint sitting to deliberate and pass the bill.
&nbsp;
This procedure ensures that any amendments to the Indian Constitution undergo a thorough legislative process and receive the necessary approval from the President. By requiring separate passage in both Houses and disallowing joint sittings for disagreement resolution, the Constitution maintains a system of checks and balances to safeguard the integrity and stability of the amendment process.
&nbsp;
The process also reflects the democratic principles upon which the Indian Constitution is based. The involvement of both ministers and private members in introducing amendment bills allows for a diverse range of perspectives to be considered during the amendment process, ensuring that the interests of various stakeholders are taken into account.

Constitution Amendment Bill - UPSC Prelims 2022 Question

Question
&nbsp;
With reference to India, consider the following statements:
 1. Government law officers and legal firms are recognized as advocates, but corporate lawyers and&nbsp;patent attorneys are excluded from recognition as advocates. 2. Bar Councils have the power to lay down the rules relating to legal education and recognition of&nbsp;law colleges.
&nbsp;
Which of the statements given above is/are correct?
 A. 1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;B. 2 only
&nbsp;
An advocate is an authorized individual with a law degree who is enrolled with the Bar Council in accordance with the provisions of the Advocates Act, 1961. Advocates are granted the authority to represent parties in legal proceedings. It is important to note that law firms are not recognized as advocates themselves.
&nbsp;
On the other hand, a patent attorney, who holds a law degree, specializes in dealing with patent-related litigation. Patent attorneys are considered advocates as they possess the qualifications and credentials to represent clients in patent-related legal matters.
&nbsp;
Bar Councils have various functions, including the promotion of legal education and the establishment of standards for legal education. They collaborate with universities in India that offer legal education and work in consultation with State Bar Councils. Bar Councils also have the power to recognize universities whose law degrees meet the qualification criteria for enrolling as an advocate. In order to ensure the quality of legal education, Bar Councils conduct visits and inspections of universities to assess their programs.
&nbsp;
The role of Bar Councils is crucial in maintaining the standards and integrity of the legal profession. By setting educational standards, promoting legal education, and recognizing reputable universities, they contribute to the development of competent and qualified advocates. This ensures that individuals seeking legal representation can rely on knowledgeable and skilled professionals.

Recognition as Advocates and Bar Councils - UPSC Prelims 2022 Question

Question
&nbsp;
Consider the following statements:
 1. Pursuant to the report of H.N. Sanyal Committee, the Contempt of Courts Act, 1971 was passed. 2. The Constitution of India empowers the supreme court and High court to punish for contempt of themselves. 3. The Constitution of India defines Civil Contempt and Criminal Contempt. 4. In India, the Parliament is vested with the powers to make laws on Contempt of Court.
&nbsp;
Which of the statements given above is/are correct?
&nbsp;
A. 1 and 2 only B. 1, 2 and 4 C. 3 and 4 only D. 3 only
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;B. 1, 2 and 4
&nbsp;
In 1961, the H. N. Sanyal committee was established to conduct a thorough examination of the law and challenges associated with contempt of court. The committee's recommendations were widely accepted, leading to the enactment of the Contempt of Court Act in 1971 by the Parliament.
&nbsp;
Under the Constitution of India, specifically Article 129 and 215, the Supreme Court and High Court respectively possess the authority to penalize individuals for contempt of court. These provisions grant them the power to take action against those who undermine the dignity and authority of the courts.
&nbsp;
The Contempt of Courts Act of 1971, distinct from the Constitution, delineates the definitions and consequences of civil and criminal contempt. It serves as the primary legislation governing contemptuous behavior within the judicial system.
&nbsp;
Additionally, Article 142(2) stipulates that the Supreme Court possesses comprehensive powers to issue orders and punish instances of contempt of court. However, these powers are subject to any laws enacted by Parliament pertaining to contempt of court. This provision highlights the legislative authority of Parliament to pass laws specifically addressing contemptuous actions directed at the judiciary.
&nbsp;
Therefore, while the Constitution empowers the judiciary to punish contempt of court, the Parliament has the jurisdiction to enact laws related to the subject. This collaborative approach ensures that both branches of the government play their respective roles in maintaining the sanctity and effectiveness of the judicial system.
&nbsp;
The Contempt of Court Act of 1971, influenced by the recommendations of the H. N. Sanyal committee, provides a legal framework for identifying and addressing instances of contemptuous behavior. By establishing clear definitions and procedures for handling contempt, the Act contributes to upholding the dignity and authority of the courts, thereby safeguarding the integrity of the justice system in India.

H.N. Sanyal Committee - UPSC Prelims 2022 Question

Question
&nbsp;
With reference to the Indian economy, consider the following statements:
&nbsp;
1. A share of the household financial savings goes towards government borrowings. 2. Dated securities issued at market-related rates in auctions form a large component of internal&nbsp;debt.
&nbsp;
Which of the above statements are correct?
 A. 1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2
&nbsp;
Answer
&nbsp;
The correct answer is C. Both 1 and 2
&nbsp;
In the fiscal year 2018, approximately 50.8% of households' savings were allocated to financial assets, with physical assets accounting for 48.1% and gold/silver ornaments comprising 1.1% of total savings. Among financial assets, deposits with banks emerged as the most significant form, followed by insurance funds, mutual funds, and currency. These investments play a crucial role in supporting government borrowings as insurance companies and mutual/provident funds are major investors in government securities.
&nbsp;
Internal Debt is a component of government borrowings that encompasses various forms of loans obtained through the open market, compensation and other bonds, and similar instruments. It also includes borrowings facilitated by treasury bills, including those issued to State Governments, Commercial Banks, and other Investors. Additionally, non-negotiable, non-interest bearing dated securities issued to International Financial Institutions are also classified as part of Internal Debt.
&nbsp;
The allocation of households' savings across different asset classes reflects their preferences and risk appetite. Financial assets offer the potential for returns through interest, dividends, or capital appreciation, making them an attractive choice for many households. Deposits with banks provide a safe and easily accessible investment option, while insurance funds and mutual funds offer opportunities for long-term growth and diversification. Currency holdings serve as a medium of exchange and a store of value.
&nbsp;
Meanwhile, physical assets hold their own appeal, with households allocating a significant portion of their savings to tangible assets such as real estate, land, vehicles, and other durable goods. These assets not only provide utility but also act as a hedge against inflation and economic uncertainties.
&nbsp;
Gold and silver ornaments, although forming a small fraction of households' savings, hold cultural and traditional significance in many societies. They are often seen as a store of wealth and a symbol of prosperity and are valued for their aesthetic appeal.

Government Borrowings and Dated Securities - UPSC Prelims 2022 Question

Question
&nbsp;
With reference to the expenditure made by an organization or a company, which of the following statements is/are correct?
&nbsp;
1. Acquiring new technology is capital expenditure.
2. Debt financing is considered capital expenditure, while equity financing is considered revenue expenditure.
&nbsp;
Select the correct answer using the code given below:
&nbsp;
A.1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2
&nbsp;
Answer
&nbsp;
The correct answer is A. 1 only
&nbsp;
Capital expenditures, often referred to as CapEx, are financial resources allocated by a company to acquire, enhance, and maintain tangible assets such as property, plants, buildings, technology, or equipment. These funds are typically utilized for new projects or investments undertaken by the company. Examples of capital expenditures include the purchase of property, equipment, land, computers, furniture, and software.
&nbsp;
Debt financing, on the other hand, involves raising funds for working capital or capital expenditures by issuing debt instruments to individual or institutional investors. Through this method, the company borrows money, and in return, the investors become creditors. They receive a commitment that the principal amount and interest on the debt will be repaid over a specified period. Equity financing, on the contrary, entails raising capital by issuing shares of stock in a public offering. This approach allows individuals or entities to become shareholders and obtain ownership in the company. Both debt financing and equity financing are categorized as forms of capital expenditures.
&nbsp;
In contrast to capital expenditures, revenue expenditures are ongoing operating expenses required to sustain the daily operations of a business. These expenses are typically short-term in nature and cover costs such as salaries, utilities, maintenance, and supplies.
&nbsp;
Differentiating between capital expenditures and revenue expenditures is crucial for financial management and reporting purposes. Capital expenditures contribute to the long-term growth and asset base of a company, while revenue expenditures are necessary for the day-to-day functioning of the business.
&nbsp;
Proper allocation and management of capital expenditures are essential for a company's strategic planning and growth. By investing in capital assets, companies can enhance their productivity, expand their operations, and stay competitive in the market. However, it is equally important to carefully monitor revenue expenditures to ensure efficient cost management and maintain profitability.

Capital and Revenue Expenditure - UPSC Prelims 2022 Question

Question&nbsp;
&nbsp;
Which one of the following situations best reflects &ldquo;Indirect Transfers&rdquo; often talked about in&nbsp;media recently with reference to India?
 A. An Indian company investing in a foreign enterprise and paying taxes to the foreign country on the profits arising out of its investment.
B. A foreign company investing in India and paying taxes to the country of its base on the profits arising out of its investment.
C. An Indian company purchases tangible assets in a foreign country and sells such assets after their value increases and transfers the proceeds to India.
D. A foreign company transfers shares and such shares derive their substantial value from assets&nbsp;located in India.&nbsp;
&nbsp;
Answer
&nbsp;
The correct answer is&nbsp;D. A foreign company transfers shares and such shares derive their substantial value from assets&nbsp;located in India.&nbsp;
&nbsp;
Indirect transfers occur when shares or assets of foreign entities that have holdings in India are transferred instead of directly transferring the underlying assets located in India.
&nbsp;
In the context of indirect transfers, when shares of a foreign company or interests in an entity incorporated or registered outside India are transferred, and if the substantial value of such shares or interests is derived from assets located in India, whether directly or indirectly, it is referred to as an "Indirect Transfer." In such cases, the income generated from the transfer is deemed to accrue or arise in India. Consequently, this income becomes subject to taxation for all individuals, including both resident and non-resident individuals.
&nbsp;
The principle behind taxing indirect transfers is to ensure that any gains or income arising from the transfer of assets in India, even if done indirectly through the transfer of shares or interests in foreign entities, are not exempt from taxation. This ensures that the tax jurisdiction extends to the economic value derived from Indian assets, regardless of the method of transfer.
&nbsp;
Therefore, both residents and non-residents are liable to pay taxes on the income generated from indirect transfers, as per the provisions of the Indian tax laws. This measure aims to prevent potential tax evasion or avoidance by ensuring that the income derived from Indian assets is appropriately taxed, irrespective of the legal structure used for the transfer.
&nbsp;
By imposing taxation on indirect transfers, the Indian government seeks to maintain tax transparency and fairness, ensuring that income generated from Indian assets contributes to the overall tax revenue. It also serves as a means to protect the Indian tax base and prevent potential misuse or exploitation of cross-border transactions involving Indian assets.

Indirect Transfers - UPSC Prelims 2022 Question

Question
&nbsp;
Which of the following activities constitute real sector in the economy?
&nbsp;
1. Farmers harvesting their crops
2. Textile mills converting raw cotton into fabrics
3. A commercial bank lending money to a trading company
4. A corporate body issuing Rupee Denominated Bonds overseas
&nbsp;
Select the correct answer using the code given below:
 A. 1 and 2 only B. 2, 3 and 4 only C. 1, 3 and 4 only D. 1,2, 3 and 4
 The correct answer is&nbsp;A. 1 and 2 only
&nbsp;
The real sector of an economy plays a crucial role in driving economic output and encompasses the key economic segments that contribute to the GDP's growth. This sector includes activities such as farmers harvesting their crops and textile mills transforming raw cotton into fabrics.
&nbsp;
Within the real sector, we find enterprises (nonfinancial corporations), households, and nonprofit institutions serving households. From a monetary and financial perspective, households and nonprofit institutions serving households are sometimes grouped together as a subsector called "Other resident sectors."
&nbsp;
However, it's important to note that certain financial transactions, such as a commercial bank lending money to a trading company or a corporate body issuing Rupee-denominated bonds overseas, do not fall under the purview of the real sector. These activities are part of the financial sector and are primarily focused on monetary and financial intermediation rather than direct production or economic output.
&nbsp;
By distinguishing the real sector from the financial sector, economists and policymakers can gain a clearer understanding of the drivers of economic growth and design appropriate policies to support and stimulate the real sector's activities. This differentiation helps in channeling resources effectively towards sectors that directly contribute to the production of goods and services, job creation, and overall economic development.

Real Sector in the Economy - UPSC Prelims 2022 Question

<div class="markdown">
Nestled just 70 kilometers away from the vibrant city of Varanasi, Chandraprabha Wildlife Sanctuary, located in the Chandauli district, is a hidden gem adorned with dense forests, picturesque hills, ancient caves, and magnificent waterfalls. Named after the Chandraprabha River, which translates to 'The Luminescence of Moon,' this sanctuary is a sanctuary of tranquility and natural wonder. With its rich flora and fauna nourished by the river's tributaries, this sanctuary has been a source of Ayurvedic medicine for centuries.&nbsp;
&nbsp;
Spread across an expansive area of 78 square kilometers, the Chandraprabha Wildlife Sanctuary boasts a diverse range of landscapes. The hills and dense forests are home to numerous hidden caves, some of which served as dwellings for prehistoric humans. These caves, adorned with primitive cave paintings, offer glimpses into the lives and habitats of our ancestors. As we explore deeper into the sanctuary, the mesmerizing waterfalls and the winding Chandraprabha River create an ethereal ambiance that captivates the senses.
&nbsp;
Established in May 1957, the sanctuary was a significant step towards preserving the region's unique biodiversity. Chandraprabha Wildlife Sanctuary is a haven for various wildlife species, including Blackbucks, Chital, Sambar, Nilgai, Wild Boar, Bear, Leopard, Porcupine, Chinkara, Gharial (small crocodile), and Python. For bird enthusiasts, the sanctuary offers an unrivaled experience, with over 150 species of birds gracing the skies and treetops, making it a bird watcher's paradise.
&nbsp;
To enhance visitors' experiences, the forest and tourism departments of the Uttar Pradesh government, in collaboration with private facilitators, have developed comfortable accommodations and amenities within the sanctuary. Tourists can indulge in a plethora of activities, including hiking, sightseeing, and immersing themselves in tribal music. The tantalizing local cuisine adds another layer of delight to the experience, making it a truly immersive journey into the heart of nature.
&nbsp;
The establishment of Chandraprabha Wildlife Sanctuary demonstrates the government's commitment to conserving and preserving the region's biodiversity. By striking a balance between tourism and environmental sustainability, the sanctuary ensures that future generations can continue to marvel at its natural wonders.
&nbsp;
Chandraprabha Wildlife Sanctuary stands as a testament to the raw beauty and biodiversity that nature has to offer. From the mystical caves and majestic waterfalls to the rich wildlife and vibrant avian population, this sanctuary is a treasure trove of natural marvels. As visitors immerse themselves in the serene surroundings and partake in the diverse activities, they contribute to the preservation of this remarkable ecosystem. Chandraprabha Wildlife Sanctuary beckons adventurers, nature lovers, and seekers of tranquility to experience the magic of its enchanting landscapes.
</div>

Chandraprabha Wildlife Sanctuary is a protected area in Uttar Pradesh, India. It is home to tigers, leopards, elephants, and other wildlife. The sanctuary is open to visitors who can go on safaris, treks, or camps.

Chandraprabha Wildlife Sanctuary - UPSC Current Affairs

<div class="markdown">
Inflation is a general increase in prices and fall in the purchasing value of money. It is measured as the percentage change in prices over a period of time. Inflation can be caused by a number of factors, including:
&nbsp;
1. Increase in the money supply: When there is more money in circulation, prices tend to rise.
2. Increase in demand: When demand for goods and services exceeds supply, prices tend to rise.
3. Increase in costs of production: When the cost of producing goods and services rises, businesses pass those costs on to consumers in the form of higher prices.
&nbsp;
Sticky inflation is a type of inflation that is slow to fall. This can happen for a number of reasons, including:
&nbsp;
1. Wage-price spiral: When wages rise, businesses pass those costs on to consumers in the form of higher prices. This can lead to a cycle of rising wages and prices, which can be difficult to break.
2. Sticky prices: Some prices, such as those for rent and utilities, are slow to adjust to changes in market conditions. This can lead to a situation where prices remain high even when demand is falling.
3. Expectations of inflation: If people expect inflation to be high, they may be more likely to demand higher wages and prices. This can create a self-fulfilling prophecy, where inflation becomes self-perpetuating.
&nbsp;
Sticky inflation can have a number of negative consequences, including:
&nbsp;
1. Reduced purchasing power: When prices rise, people have less money to buy goods and services. This can lead to a decline in living standards.
2. Increased uncertainty: Sticky inflation can make it difficult for businesses to plan for the future. This can lead to investment and job losses.
3. Increased social unrest: Sticky inflation can lead to social unrest, as people become frustrated with the rising cost of living.
&nbsp;
There are a number of things that can be done to address sticky inflation, including:
&nbsp;
1. Monetary policy: Central banks can use monetary policy to try to control inflation. This can involve raising interest rates to make it more expensive to borrow money, or selling government bonds to reduce the amount of money in circulation.
2. Fiscal policy: Governments can use fiscal policy to try to control inflation. This can involve raising taxes or cutting spending.
3. Structural reforms: Structural reforms can help to make the economy more flexible and responsive to changes in market conditions. This can help to reduce the likelihood of sticky inflation.
&nbsp;
Sticky inflation is a complex issue, and there is no easy solution. However, by taking steps to address the underlying causes of sticky inflation, it is possible to reduce its negative consequences.
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Sticky inflation is a type of inflation that is slow to fall. It can be caused by a number of factors, including wage-price spirals, sticky prices, and expectations of inflation. There are a number of things that can be done to address sticky inflation, including monetary policy, fiscal policy, and structural reforms.

Sticky Inflation - UPSC Current Affairs

India's rich musical heritage encompasses a wide array of classical and semi-classical forms, each with its unique charm and essence. Among these, Tappa stands out as a mesmerizing genre that captivates listeners with its lively pace and intricate composition. With roots in the folk songs of Punjab's camel riders, Tappa has evolved into a refined form of classical music over time. This blog explores the vibrant world of Tappa, highlighting its distinctive characteristics and legendary exponents.
 Tappa's allure lies in its energetic and nimble structure, characterized by fast-paced, intricate melodies. The term "tappa" itself denotes the act of jumping, bouncing, and skipping, reflecting the relentless pursuit of perfection by the singer. Unlike other Hindustani classical forms, Tappa demands uninterrupted, rhythmic notes without pauses, making it a true test of a singer's skill. Mastery over the diction is crucial, as even a slight deviation can undermine the entire performance.&nbsp;
 In contrast to the expansive and contemplative nature of khayal renditions, Tappa showcases a concise and volatile style. Its brisk tempo and rapid succession of notes create an exhilarating musical experience. Renowned maestros like Ghulam Nabi, Pt. Bholanath Bhatt, and Girija Devi have elevated Tappa to unparalleled heights with their extraordinary expertise, solidifying their status as legends in this genre.
 Tappa's journey from its folk origins to a refined classical form is a testament to the dynamic nature of Indian music. It was Mian Ghulam Nabi Shori, a court singer for Nawab Asaf-Ud-Dowlah of Awadh, who played a crucial role in shaping Tappa into a recognized art form. In 18th and 19th-century Bengal, the enchanting renditions of "Nidhubabur Tappa" by Nidhu Babu garnered immense popularity. Today, Tappa continues to thrive through the contributions of contemporary artists like Laxmanrao Pandit, Shamma Khurana, Manvalkar, Ishwarchandra Karkare, and Jayant Khot.
 Tappa, with its lively rhythm, intricate melodies, and rich historical legacy, stands as a testament to the incredible diversity within Indian classical music. Its unique ability to captivate listeners with its bouncing and re-bouncing notes sets it apart from other vocal forms. The mastery required to navigate its relentless pace and deliver flawless renditions has cemented Tappa's place as an art form that demands both technical prowess and emotional depth. As we continue to explore the vast tapestry of Indian music, Tappa's exceptional artistry will undoubtedly leave an indelible mark on our hearts and minds.

Tappa is a captivating form of Indian semi-classical vocal music known for its fast-paced and intricate melodies. Originating from Punjab's folk songs, it has evolved into a refined art form with legendary exponents showcasing their skill and expertise.

Tappa Music - UPSC Current Affairs

Last year, some parts of the United States experienced a rare weather phenomenon called a Derecho, which turned the sky green.
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A Derecho is a widespread, long-lived, straight-line windstorm associated with a band of rapidly moving showers or thunderstorms.
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The name Derecho comes from the Spanish word 'la derecha,' which means straight, indicating that the winds move in a straight line and do not rotate like a tornado.
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These storms are a warm-weather phenomenon that generally occurs in June and July, making them a rare occurrence as compared to other storm systems like tornadoes or hurricanes.
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Derechos mostly occur across central and eastern parts of the United States, but they have also been reported in other countries like Russia, Germany, Finland, Bulgaria, and Poland.
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Derechos come in three different types: progressive, serial, and hybrid.
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A progressive derecho is associated with a short line of thunderstorms that may travel for hundreds of miles along a relatively narrow path. It is a summer phenomenon.
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A serial derecho, on the other hand, has an extensive squall line &ndash; wide and long &ndash; sweeping across a large area, and it usually occurs during spring or fall.
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Hybrid ones have the features of both progressive and serial derechos.
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The most intense and unusual derecho ever observed in the US was the "Super Derecho" in 2009. It swept from Kansas to Kentucky with wind speeds reaching up to 170 km/hr. The storm caused widespread damage, power outages, and disrupted air travel.
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One of the fascinating things about Derechos is that they can turn the sky green. Severe thunderstorms result in a 'green sky' due to the interaction of light with the massive amount of water they hold. The big raindrops and hail scatter away all but the blue wavelengths, primarily blue light penetrates below the storm cloud. This blue then combines with the red-yellow of the afternoon or the evening sun to produce green.
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In conclusion, Derecho is a rare and powerful weather phenomenon that occurs in warm weather, mostly in central and eastern parts of the United States. The storms come in different types, including progressive, serial, and hybrid. Derechos can cause widespread damage, power outages, and turn the sky green due to the interaction of light with the massive amount of water they hold.

A Derecho is a widespread, long-lived, straight-line windstorm associated with a band of rapidly moving showers or thunderstorms. 

Derecho - UPSC Current Affairs 

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LIGO-India is set to become the country's largest scientific facility after the government gave the final green light for its construction. This exciting project will see India join the global effort to detect and study gravitational waves, which were first theorized in Albert Einstein's General Theory of Relativity.
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LIGO is an international network of laboratories that aim to detect the ripples in spacetime produced by the movement of large celestial objects. LIGO-India will be located in the Hingoli district of Maharashtra, around 450 km east of Mumbai, and will begin scientific runs from 2030. Here's everything you need to know about the theory of gravitation, Einstein's General Theory of Relativity, and the significance of the LIGO project.
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Sir Issac Newton's Law of Gravitation is a staple of high-school science education. It states that the same force that makes objects fall to the ground is also the force that causes heavenly bodies to orbit around each other. Newton's mathematical formulation was able to accurately predict the strength of this force, which was proportional to the masses of the two bodies and inversely proportional to the distance between them.
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However, Newton's Law of Gravitation had two major deficiencies. The first was that it did not explain the reason for the existence of the attractive force between any two bodies. The second problem was apparent with the publication of Einstein's Special Theory of Relativity in 1905, which established that nothing could travel faster than the speed of light. Yet, the gravitational force seemed to propagate instantaneously over long distances.
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Einstein's General Theory of Relativity, published in 1915, changed our understanding of gravitation. He proposed that spacetime was not just a passive backdrop to the universe's events but rather interacted with matter and influenced events. It was like a soft fabric that responds to a heavy object placed on it and curls around it. The curvature in spacetime produced by a heavy mass is what creates the gravitational pull. In other words, there is no force at all; gravitation is just the curvature in spacetime.
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General Relativity also predicted that moving objects would generate gravitational waves in spacetime. These waves have the effect of causing a temporary deformation in a body when it comes into contact with them. Because gravity is the weakest of all natural forces, the deforming effect of gravitational waves is extremely tiny, which is why it took 100 years to experimentally verify them.
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LIGO's aim is to measure these tiny effects of gravitational waves. It consists of laser interferometers that detect the minuscule changes in distance caused by the waves. LIGO-India's addition to the global network of laboratories will allow scientists to study gravitational waves from new locations and increase the precision of measurements.
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In conclusion, LIGO-India is an exciting project that will further our understanding of the universe and our place in it. By detecting and studying gravitational waves, scientists can learn more about the celestial objects that produce them and explore the fundamental principles of physics.
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Reference source: IE

LIGO-India is a gravitational wave observatory being built in India, in collaboration with the LIGO (Laser Interferometer Gravitational-Wave Observatory) in the USA. It aims to detect and study gravitational waves, ripples in the fabric of spacetime caused by violent cosmic events like colliding black holes or neutron stars.

LIGO-India - UPSC Current Affairs

Mudumalai National Park, located in the Nilgiri Mountains in Tamil Nadu, South India, is a treasure trove of biodiversity. The park covers 321 km2 and is situated at an elevation range of 850&ndash;1,250 m in the Nilgiri District. It shares its boundaries with the states of Karnataka and Kerala and has been a protected area since 1940. In 1986, it was declared a part of Nilgiri Biosphere Reserve, and in 2007, it was designated a tiger reserve with a buffer zone of 367.59 km2.
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The park boasts of a tropical and subtropical moist broadleaf forest with over 498 plant species, 266 bird species, 18 carnivore species, and 10 herbivore species. The Moyar River and its tributaries drain the area and are home to 38 fish species. However, the park faces some challenges in the form of traffic on public roads that pass through it, leading to significant roadkills of mammals, reptiles, and amphibians. The park's northern part has also been affected by several wildfires since 1999.
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Mudumalai National Park is located in the Eastern Hills of the Western Ghats and is bordered in the west by Wayanad Wildlife Sanctuary, in the north by Bandipur National Park, and in the east by Sigur Reserve Forest. In the south, it is bordered by Singara Reserve Forest. The park is characterized by an evergreen forest with dipterocarp species prevailing in the elevation range of 250&ndash;1,200 m. Its undulating hills consist mostly of hornblendite and biotite gneiss with black sandy loam. The red heavy loam prevails in the southern part, and it is part of the ecoregion South Western Ghats moist deciduous forests.
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The park has a unique climate, with an annual rainfall of about 1,420 mm mostly during the southwest monsoon season from June to September. The temperature drops during the cool season from December to January, but rises during April to June, which are the hottest months. The annual precipitation ranges from 1,100 mm in the south and west to 600 mm in the east.
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Mudumalai National Park harbors a tropical and subtropical moist broadleaf forest with 498 plant species, including 154 tree, 77 shrub, 214 herb, and 53 vine species. Teak and axlewood are the dominant tree species with a density of more than 105 trees/ha. Prominent tree species include flame-of-the-forest, Indian laurel, kusum tree, weaver's beam tree, Malabar kino tree, Indian rosewood, Malabar plum, silk-cotton tree, and Indian beech. The moist deciduous forest is interspersed with giant thorny bamboo. Mango and persimmon grow along river courses. Climbers include orange climber, Wattakaka volubilis, frangipani vine, trellis-vine, purple morning glory, striped cucumber, and several jasmine species.
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The park is also home to many invasive species, such as Lantana camara, which negatively affects the dispersal of native species such as Indian gooseberry and Kydia calycina. However, it does not affect the growth and dispersal of other shrubs. The nesting behavior of birds reveals that red-vented bulbul and red-whiskered bulbul prefer its top canopy level for building nests in spring.

Mudumalai National Park is a national park located in the southern Indian state of Tamil Nadu. It is home to a diverse range of flora and fauna, including tigers, elephants, leopards, and various bird species. 

Mudumalai National Park - UPSC Current Affairs 

The Arctic Council is an intergovernmental forum that addresses issues faced by the Arctic governments and indigenous people of the Arctic. The council has eight member states, which are Canada, Denmark (representing Greenland), Finland, Iceland, Norway, Russia, Sweden, and the United States. The council also has observer states, which include non-Arctic states approved by the council at ministerial meetings. These observer states have no voting rights in the council, but they receive invitations to most council meetings.
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The Arctic Council is unique in that it has a category of Permanent Participants, which provides for active participation and full consultation with the Arctic indigenous representatives within the council. The Permanent Participants can raise points of order that require an immediate decision by the chairman, propose supplementary agenda items, and propose cooperative activities such as projects. The Permanent Participants also have the right to address the meetings and have their agendas consulted beforehand.
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As of 2021, six Arctic indigenous communities have Permanent Participant status, including the Aleut International Association (AIA), the Arctic Athabaskan Council (AAC), the Gwich'in Council International (GCI), the Inuit Circumpolar Council (ICC), the Russian Association of Indigenous Peoples of the North (RAIPON), and the Saami Council. The Permanent Participant status does not, however, confer any legal recognition as peoples.
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The role of observers in the Arctic Council has been re-evaluated, and the distinction between permanent and ad hoc observers has been dropped. The criteria for admission of observers have also been clarified, including a requirement for applicants to recognize Arctic States' sovereignty, sovereign rights and jurisdiction in the Arctic, and to recognize that an extensive legal framework applies to the Arctic Ocean.
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Pending observer states need to request permission for their presence at each individual meeting. The European Union (EU) requested full observer status in 2013 but was not granted, mostly because the members do not agree with the EU ban on hunting seals. Turkey is also a pending observer state.
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While the Arctic Council provides a unique platform for dialogue and cooperation between Arctic governments and indigenous peoples, decision-making in the council remains in the hands of the eight-member states on the basis of consensus. However, the council's recognition of the concerns of indigenous peoples and the involvement of Permanent Participants make the Arctic Council a crucial forum for discussing the unique challenges facing the Arctic region.

The Arctic Council is an intergovernmental forum established in 1996 to promote cooperation among the Arctic states and indigenous peoples in addressing issues related to sustainable development and environmental protection in the Arctic region. The council comprises eight member countries and six indigenous peoples' organizations as permanent participants, and it focuses on issues such as climate change, biodiversity, and maritime safety in the Arctic region.

Arctic Council - UPSC Current Affairs 

In recent years, India has taken significant strides towards becoming a digital-first economy. One of the major catalysts of this transformation has been the India Stack, an ambitious project aimed at creating a unified software platform that brings India's population into the digital age.
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At its core, India Stack is a set of APIs that enable governments, businesses, startups, and developers to utilize a unique digital infrastructure to solve India's hard problems towards presence-less, paperless, and cashless service delivery. It comprises four distinct technology layers: Presenceless, Paperless, Cashless, and Consent.
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The Presenceless Layer has been the most controversial aspect of the India Stack since it involves storing biometric data such as fingerprints for every citizen. Despite the concerns raised around the fraudulent use of biometrics, the other layers have been hailed for their ability to enable paperless and rapid verification of identity, personal records, and legally valid electronic signatures.
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The adoption of the Aadhaar "Universal ID" numbers was the first step towards implementing India Stack, and subsequent stages have included eKYC, e-Sign, UPI, and DigitalLocker. The recent demonetization of 500 and 1000 Rupee notes further propelled the adoption of India Stack, paving the way for a cashless economy.
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To test all four layers of India Stack, the India Stack team partnered with Capital Float, the largest FinTech alternative credit company in India, in 2016. The pilot aimed to provide loans to customers in minutes and from the comfort of their homes. The user consented for Capital Float to access their data through the digital platform, and Aadhaar infrastructure authenticated the user's identity. The credit-worthiness of the customer was estimated using banking activity and mobile scraping techniques, and the loan was approved with e-signature and disbursed directly into the bank account of the customer.
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While India Stack has been praised for its potential to fast-track the move to digital payment systems, concerns have been raised about privacy and surveillance. India's Supreme Court ruled in favor of a petition declaring privacy a fundamental right, and other court matters followed.
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In conclusion, India Stack represents a significant step towards empowering India's digital revolution. Its potential to enable paperless, cashless, and presence-less service delivery could transform the country's economy, creating opportunities for under-served populations and fueling growth for the FinTech industry. However, it's important to address the privacy and surveillance concerns to ensure that the benefits of India Stack are accessible to all.

India Stack is an ambitious project aimed at providing a unified software platform to bring India's population into the digital age. It comprises a set of APIs that enable presence-less, paperless, and cashless service delivery by governments, businesses, startups, and developers. It includes four distinct technology layers - the Presence less Layer, Paperless Layer, Cashless Layer, and Consent Layer.

India Stack - UPSC Current Affairs 

The Central Ground Water Authority (CGWA) was established as an Authority by the Indian government in 1997 with the objective of regulating and managing the country's ground water development to preserve and protect it. The Authority is responsible for the regulation and control of ground water management and development, with the power to issue necessary regulatory directions for this purpose.
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The CGWA's mandate includes the exercise of powers under the Environment (Protection) Act, 1986 for issuing directions and taking measures related to all matters referred to in sub-section (2) of Section 3 of the Act. The Authority can also resort to the penal provisions contained in Sections 15 to 21 of the Act. Additionally, the CGWA is responsible for regulating the construction of wells, registration of ground water abstraction structures, and the sale of ground water.
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The Authority also focuses on the conservation and artificial recharge of ground water, including roof-top rainwater harvesting, stormwater recharge, and other means. The CGWA aims to protect ground water quality from deterioration resulting from the disposal of urban and industrial wastes. It also manages ground water in coastal aquifers and inland salinity in regards to the aspects not covered under coastal zone regulations. The CGWA clears solid and liquid waste disposal sites and grants clearance for the extraction of ground water to industrial establishments.
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To achieve its goals, the CGWA adopts a proactive approach and sensitizes persons and users at different levels with regard to the need for judicious use and scientific management of ground water. The Authority organizes mass awareness programs involving users, beneficiaries, and NGOs, issues messages through news media, and organizes activities like registration of wells, grant of permission for the construction of new wells, and training on roof-top rainwater harvesting. It also issues insertions through electronic display boards and produces films on ground water protection and conservation. The CGWA provides notices to offenders, giving them sufficient time to explain their position and take ameliorative actions. It also holds personal hearings before imposing regulatory measures.
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In conclusion, the Central Ground Water Authority plays a crucial role in regulating and managing ground water development in India. The Authority's proactive approach towards preserving and protecting ground water resources will go a long way in ensuring sustainable development for future generations.

The Central Ground Water Authority (CGWA) was constituted in 1997 by the Indian Ministry of Environment and Forests as per the Supreme Court's directive. CGWA's primary objective is to regulate and manage the development of groundwater in India, with a focus on preserving and protecting it. The authority is responsible for regulating and controlling the management and development of groundwater in the country, as well as issuing regulatory directions.

Central Ground Water Authority - UPSC Current Affairs 

External Commercial Borrowing (ECB) refers to loans made by non-resident lenders in foreign currency to Indian borrowers. ECBs are widely used in India to facilitate access to foreign funds by Indian corporations and public sector undertakings (PSUs). These borrowings are in the form of commercial bank loans, securitized instruments, credit from export credit agencies, and more. The Department of Economic Affairs, Ministry of Finance, along with the Reserve Bank of India, regulates and monitors ECB guidelines and policies.
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Most of these loans are provided by foreign commercial banks and other institutions. ECBs have contributed between 20 and 35 percent of the total capital flows into India. Indian corporations and PSUs have used ECBs as a source of investment. ECBs can be used for infrastructure and greenfield projects, and up to 50% of the funding for these projects is allowed through ECBs.
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Recently, the Reserve Bank of India raised the ECB limit for non-banking finance companies classified as infrastructure finance companies from 50% to 75% of owned funds, including outstanding ECBs. The telecom sector also allows up to 50% funding through ECBs. Moreover, the government of India has allowed borrowing in the Chinese currency yuan.
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Borrowers can use 25% of the ECB to repay rupee debt, and the remaining 75% should be used for new projects. A borrower cannot refinance its entire existing rupee loan through ECB. Companies can repay part of their existing expensive loans using funds raised through ECBs, given the near-zero interest rates in the US and Europe.
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ECB transactions are governed by the Foreign Exchange Management Act, 1999. ECBs can be raised through the automatic route or approval route. Under the automatic route, cases are examined by AD Category-I Banks, whereas under the approval route, borrowers send their requests to the Reserve Bank of India through their AD banks for examination. ECBs can be raised only for a specific period called the Minimum Average Maturity Period (MAMP).
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ECBs are an essential tool for Indian corporations and PSUs to access foreign funds. However, they also pose significant risks, such as currency fluctuations, that borrowers should consider. Therefore, ECBs should be used judiciously to prevent over-reliance on foreign funds and manage financial risks.

External commercial borrowing (ECB) refers to loans in foreign currency made by non-resident lenders to Indian borrowers. These loans are used to provide Indian corporations and public sector undertakings with access to foreign funds. ECBs include various forms of debt such as commercial bank loans, securitized instruments, and credit from official export credit agencies. The Department of Economic Affairs and Reserve Bank of India regulate ECB guidelines and policies.