Economy

SPRINGBOARD ACADEMY 1
Economy Notes
vFkZO;oLFkk
/ku laca/kh fo"k;ksa o ekeyksa dk v/;;u vFkZ’kkL= dgykrk gS tcfd fdlh ns’k@jkT; dh vkfFkZd xfrfof/k;ksa ds lapkyu ds fy,
viukbZ tkus okyh fu;e o uhfr;ka vFkZO;oLFkk dgykrh gSA vFkZO;oLFkk 'kCn lnSo fdlh {ks= ds uke ds vkxs tksM+k tkrk gS& tSls
& Hkkjr dh vFkZO;oLFkk] jktLFkku dh vFkZO;oLFkk
vFkZ’kkL= lS/kkafrd Kku ls lcaf/kr gS tcfd vFkZO;oLFkk mu fl)kUrksa dk O;ogkfjd o okLrfod :i gSA vkfFkZd lalk/ku lhfer
ek=k esa gksrs gS blfy, izR;sd ns’k mudk U;k;ksfpr caVokjk vkSj loZJs"B mi;ksx lqfuf’fpr dj vf/kdre tudY;k.k djuk pkgrk
gSA bl lac/k esa viuk;s x;s fu;e vFkZO;oLFkk dgykrs gS
• lalk/kuksa ds LokfeRo ds vk/kkj ij vFkZO;oLFkk rhu izdkj dh gksrh gS
iwathokn lektokn
• ;ksX;rk ds vk/kkj ij forj.k • vko';drk ds vk/kkj ij leku forj.k
• lalk/kuksa ij futh LokfeRo • lalk/kuksa ij jkT; dk LokfeRo
• vFkZO;oLFkk dk lapkyu cktkj 'kkfDr;ksa ij gksrk gS • vFkZO;oLFkk dk lapkyu jkT; }kjk fd;k tkrk gSA
• O;fDrxr Lora=rk dks vf/kd egRo fn;k tkrk gSA • Lekt dks vf/kd egRo fn;k tkrk gSA
• Ekqnzk iz.kkyh bldk vk/kkj gSA • eqnzk iz.kkyh dh vko’;drk ughaA
• Lora=rk dks vf/kd egRo nsrs gSA • Lekurk dks vf/kd egRo fn;k tkrk gSA
• vfgald vkUnksyu esa fo’okl • fagsld Økafr esa fo’okl
• oxZ lg;ksx esa fo’okl • oxZ la?k"kZ esa fo’okl
• yksdra= dk leFkZd • yksdra= dk fojks/k o loZgkjk oxZ dh rkuk’kkgh
• jk"Vªokn dks ekurs gS • jk"Vªokn dks ugha ekurs gSA
• /keZ dks ekurs gS • /keZ dks ugha ekurs gSA
dksbZ Hkh vFkZO;oLFkk iw.kZr;k lektoknh o iw.kZr;k iwt a hoknh ugha gks ldrh gS D;ksfa d iwt
a hokn vFkZ O;oLFkk esa Hkh lkE;oknh fo’ks"krk
o lkE;oknh fo’ks"krk esa iwta hoknh fo’ks"krk gksrh gS
• Hkkjr ,d fefJr vFkZO;oLFkk gSA

• Hkkjesa esa 1991 ls igys vFkZO;LFkk ij lektoknh izHkko vf/kd Fkk ysfdu 1991 ds vkfFkZd lq/kkj viuk;k rc ls gekjh
vFkZO;oLFkk ij iwt a hoknh izHkko vf/kd gSA
• 1991 esa ,yihth ¼mnkjhdj.k] futhdj.k] oS’ohdj.k ½ ij cy fn;k x;kA
• phu us 1978 ds vkfFkZd lq/kkjksa dks viuk;k FkkA
• orZeku esa mRrjh dksfj;k lkE;oknk dk mnkgj.k FkkA
• vUrjkZ"Vªh; laca/kksa ds vk/kkj ij vFkZO;oLFkk nks izdkj dh gksrh gS
o [kqyh vFkZO;oLFkk & vk;kr & fu;kZr o ekuo lalk/ku dk eqDr lapj.k
o can vFkZO;oLFkk & vk;kr & fu;kZr@ekuo lalk/ku@fons’kh O;kikj can gksrk gS A
A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

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Economy Notes
fodkl dh fLFkfr ds vk/kkj ij vFkZO;oLFkk fuEu izdkj dh gksrh gS &

vYifodflr vFkZO;oLFkk fodkl'khy fodflr
• lalk/kuksa dk nksgu izkFkfed Lrj • f}rh;d {ks= dk ;ksxnku gks • lokZf/kd ;ksxnku lsok {ks= dk
ij gks
• izfr O;fDr vk; de • vUrjkZ"Vªh; ekudksa ds vuq:Ik vk; • izfr O;fDr vk; o thou Lrj
o thou Lrj de gks A mPp gksrk gS
• vk/kkjHkqr lajpuk vfodflr gks A • vk/kkjHkqr lajpuk dk fodkl • vkS|ksfxdj.k iw.kZ gks pqdk gksA
vko’;drk ds vuq:Ik ugha
ekax = vkiwfrZ
ekax > vkiwfrZ ekax < vkiwfrZ
eagxkbZ (Inflation) vofLQfr (Deflation)
ekSfnzd uhfr jktdks"kh; uhfr

vkn’kZ fLFkfr esa 4 izfr’kr ls 6 izfr’kr rd
• eqnzkLQhfr o csjkstxkjh esa ,d lhek rd udkjkRed laca/k gksrk gSA ¼f¶yQ oØ½
• ;fn vkjchvkbZ cktkj esa vf/kd uksV ¼rjyrk½ tkjh djrk gS rks eqnzkfLQhfr gksrh gS rFkk eqnkz LQhfr dks fu;af=r djus ds
fy, cktkj esa rjyrk dks de djrk gS blfy, eqnzkLQhfr dh fLFkfr esa ekSfnzd uhfr vf/kd izHkkoh gksrh gSA
• tcfd (Deflation) vkfFkZd eanh dh fLFkfr esa jktdks"kh; uhfr vf/kd izHkkoh gksrh gSA
mRiknu ds lk/ku
rRo (Factor) Ykxr (Cost)
• Hkwfe • fdjk;k
• Je • Ektnwjh
• iwt a h • C;kt
• m|eh • ykHk
• Hkwfe & lHkh izkd`frd lalk/ku
• iwt
a h & e’khujh ¼LFkkbZ iwt
a h½] dPpk eky ¼vLFkkbZ iwt
a h½ mRiknu ds mijksDr dkjdksa dh ykxr dk ;ksx dkjd ykxr
dgykrk gSA
• dkjd ykxr + vizR;{k dj & lfClMh = cktkj ewY; @ miHkksDrk ewY;
cktkj vk/kkfjr ewY; fu/kkZj.k&
Lora= cktkjksa esa miHkksDrk o foØsrk }kjk dher dk fu/kkZj.k fd;k tkrk gSA

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Economy Notes
❖ Rule of Demand: - dher o ek¡x esa udkjkRed laca/k gksrk gS] vFkkZr dher c<+us ij ek¡x de gksrh gSA
y
dher
x
o ekax
❖ Rule of Supply: - dher ,o vkiwfrZ esa ldkjkRed laca/k gksrk gS vFkkZr tc oLrq dh dher vf/kd gksrh gS] rks mldh
vkiwfrZ Hkh vf/kd gksrh gSA
dher
x
o
vkiwfrZ
&&&&
dher
o ekax@ vkiwfrZ x
tgk¡ Øsrk o foØsrk nksuksa larq"V gksrs gS] ogk¡ dher fu/kkZfjr gksrh gSA
Exceptions of Rule of Demand
1. cqfu;knh vko';drk dh oLrq,¡ %& budh ek¡x dher ls izHkkfor ugha gksrhA tSls & thou j{kd oLrq,a] nokbZ;k] ued] ikuh
vkfnA
2- Giffen goods :- ;fn cktkj esa oLrq dh dher c<+ tk;s rks lhfer vkfFkZd lalk/kuksa ds dkj.k yksx mPp xq.koÙkk dh oLrq,a
NksM+ dj muds LFkku ij fuEu xq.koÙkk dh izfrLFkkiu oLrqvksa dk iz;ksx djuk izkjEHk dj nsrs gSA
Exp. :- xsgw¡ cktjk
20 :-@kg. 10 :-@kg.
30 :-@kg. 15 :-@kg.
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Economy Notes
3. Veblen Goods :- lkekftd izfr"Bk ls tqMh gqbZ oLrq,¡ pw¡fd vf/kd eg¡xh gksrh gSa blfy, mudh ek¡x gksrh gSA
4. Fashionable Goods :-
mRiknu ds {ks= (Sector of production)
vFkZO;oLFkk ds dqy ikap {ks= ekus tkrs gS] buesa ls rhu eq[; o nks lgk;d {ks= ekus tkrs gS &
1. Primary sector 2. Secondary sector 3. Tertiary Sector
4. Quaternary Sector 5. Quinary Sector
1. Primary Sector (Agriculture Sector) :- bl {ks= esa izkd`frd lalk/kuksa ls lacf/kr vkfFkZd fØ;k,a ’kkfey gS lkekU;r %
bl vFkZO;oLFkk esa izkd`frd lalk/kuksa dk izkFkfed voLFkk esa mi;ksx fd;k tkrk gS A
Exp. - d`f"k] i'kqikyu] ou mRikn] eRL; ikyu] [kuu bR;kfnA
→ Hkkjr eas ekbfuax vkSj fo|qr mRiknu dks f}rh;d {ks= esa j[kk tkrk gSA
2. Secondary (Industrial Sector) :- bl {ks= esa [kuu]mR[kuu]fuekZ.k]fofuekZ.k vkfn xfrfof/k;ksa dks 'kkfey fd;k tkrk gS A
• bl {ks= dks m|ksx {ks= ds uke ls Hkh tkuk tkrk gSA
• Hkkjr esa [kuu o fctyh mRiknu dks f}rh;d {ks= esa 'kkfey fd;k tkrk gSA
Exp. :- m|ksx rFkk fuekZ.k dk;Z ¼Hkou] lM+d] iqy] Ýht vkfn½
3. Tertiary Sector/Service Sector: - blds vUrxZr lsokvksa dks 'kkfey fd;k tkrk gS A bls lsok {ks= Hkh dgk tkrk gS
Exp :- cSafdx] chek] f'k{kk] LokLF;] nwjlapkj] gksVy] ifjogu vkfnA
4. Quaternary Sector :- ckSf)d lsokvksa dks blds vUrxZr j[kk tkrk gSa
Exp. :- mPp f'k{kk] fjlpZ] lkaLd`frd xfrfof/k;k¡] ijke'kZnk=h lsok,¡A
5. Quinary Sector: - mPp Lrjh; jktuSfrd o vkfFkZd fu.kZ;u ls lEcfU/kr ls lEcfU/kr lsok,¡A
Exp :- jk"Vªifr] iz/kkueU=h] ukSdj'kkg] ea=h] CEO's, eSEclZ vkWQ cksMZ vkWQ Mk;jsDVlZ ¼funs'kd e.My ds lnL;½
→ vkWLVªfs y;k esa Dokbujh lsDVj ds vUrxZr ?kjsyw dk;ksZa dks j[kk tkrk gSA
Hkkjr dh jk"Vªh; vk;@thMhih esa lokZf/kd ;ksxnku lsok {ks= dk gSA tcfd jkstxkj dh n`f"V ls lokZf/kd ;ksxnku d`f"k {ks= dk gS A
xjhch dk vk; de
nq"pØ
jkstxkj de cpr de
vk; fuos’k

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Economy Notes
Syllabus
1. ekSfnzd uhfr %&
• cSafdx
• 'ks;j cktkj
• eqnzkLQhfr
2. jktdks"kh; uhfr
• ctV
• djkjksi.k
• ?kkVs
3- Trade Policy
• Hkqxrku lUrqyu
• fons'kh funs'k (FDI or FPI)
• :i;s dh fofue; nj
• fons'kh eqnzk Hk.Mkj
• vUrjkZ"Vªh; laxBu ¼fo'o cSad] IMF, WTO etc.½
4. jk"Vªh; vk;@Economic Growth :-
• GDP, GNP, NNP, GVA etc.
5. Economic Development: -
• (HDR/HDI, IHDI, GII, MPI)
6. Poverty
7. Unemployment
8. Agriculture
9. Industry
10. Planning
cSafdx
➢ 1770 bZ- & cSad vkWQ fgUnqLrku
• Hkkjr esa LFkkfir igyk cSad
➢ 1881 bZ- & vo/k def'kZ;y cSad
• Hkkjrh;ksa }kjk lapkfyr igyk cSad
➢ 1894 bZ- & iatkc us'kuy cSad
• igyk Hkkjrh; cSad@Lons'kh cSad
History of SBI
• 1806 bZ- & cSad vkWQ caxky
• 1840 bZ- & cSad vkWQ ckWEcs
• 1843 bZ- & cSad vkWQ enzkl
• bu rhuksa cSadks dh LFkkiuk ;gka dh izsthMsalh ljdkjksa us dh blfy, bUgsa izsthMsfUl;y cSad dgrs gS A
• 1921 bZ- & bu izsthMsfUl;y cSadks dk foy; dj fn;k x;k rFkk bldk u;k uke Imperila Bank of India j[kk x;kA

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Economy Notes
• 1955 bZ- & baihfj;y cSad vkWQ bafM;k dk vkaf'kd jk"Vªh;dj.k dj fn;k x;k rFkk bldk u;k uke State Bank of India
j[kkA bldk LokfeRo RBI ds ikl FkkA
• 2008 esa Hkkjr ljdkj us RBI ls SBI dks [kjhn fy;kA
• 1959 bZ- & fj;klrksa dh cSadks dks SBI dk lgk;d cSad cuk fn;k x;kA
SBI ds ml le; 8 lgk;d cSad Fks&
• 1961 bZ- & LVsV cSad vkWQ chdkusj rFkk LVsV cSad vkWQ t;iqj dk foy; dj fn;k x;k rFkk u;k uke SBBJ j[kkA
• 2008 bZ- & LVsV cSad vkWQ lkSjk"Vª dk foy; SBI esa dj fn;k x;kA
• 2010 bZ- & LVsV cSad vkWQ bankSj dk foy; SBI esa dj fn;k x;kA
• 2017 bZ- & blesa 'ks"k lHkh 5 cSdksa dk foy; SBI esa dj fn;k x;k ¼SBBJ, LVsV cSad vkWQ ifV;kyk½ LVsV cSad vkWQ gSnjkckn]
LVsV cSad vkWQ eSlwj] LVsV cSad vkWQ =ko.kdksj½
Reserve Bank of India

• IDBI - 1976 esa Hkkjr ljdkj us [kjhn fy;kA
• SBI - 2008 esa Hkkjr ljdkj us [kjhn fy;kA
• NABARD - 2010 esa Hkkjr ljdkj us [kjhn fy;kA
• NHB -
• DICGC
vuqlwfpr cSad %
• os cSad ftudk mYys[k RBI ds vf/kfu;e 1934 dh nwljh vuqlwph esa fd;k tkrk gSA
• vuqlwfpr cSad ds fy, 500 djksM dh iw¡th gksuh pkfg,A
• RBI ds lHkh fu;e rFkk fofu;e bu ij ykxw gksrs gSA
• ;s RBI ls lHkh izdkj dh foÙkh; lsok,¡ izkIr dj ldrs gSA
• 12 ljdkjh cSad ] 22 futh cSad rFkk 44 fons’kh cSad vuqlwfpr cSad dh fyLV esa 'kkfey Fks A
Nationalise Bank
• 1969 bZ- & bfUnjk xk¡/kh ljdkj us 14 cM+s cSadksa dk jk"Vªh;dj.k fd;k ftudh iw¡th 50 djksM ;k blls vf/kd FkhA
• 1980 bZ- & bfaUnjk xk¡/kh ljdkj us 6 vU; cSadks dk jk"Vªh;dj.k fd;kA ftUkdh iwt a h 200 djksM+ ;k blls vf/kd Fkh A
• 1993 bZ- & U;w cSad vkWQ bf.M;k dk foy; iatkc us'kuy cSad esa dj fn;kA
• vizsy 2019 & cSad vkWQ cM+kSnk esa nsuk cSad rFkk fot;k cSad dk foy; A
• vxLr 2019 & ;wfu;u cSad vkWQ bafM;k esa vkU/kzk cSad dk foy; A
• vizsy 2020 & ih-,u-ch esa vksfj;Vy cSad vkWQ dkWelZ o ;wukbVsM cSad vkWQ bafM;k dk foy; A
o bfMa;u cSad esa bykgkckn cSad dk foy;
o dsujk cSad esa flafMdsVa cSad dk foy;
• orZeku esa dqy 11 jk"Vªh;d`r cSad gSA
• dqy lkoZtfud {ks= ds cSad & 11 lkoZtfud cSad o ,lchvkbZ

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Economy Notes
Hkkjrh; efgyk cSad

• efgyk cSad dh LFkkiuk 2013 esa dh xbZ FkhA
• 2017 esa vU; cSadks ds lkFk bldk foy; Hkh ,lchvkbZ esa dj fn;k x;kA
Regional Rural Bank

• 2 Oct. 1975 - 5 {ks=h; xzkeh.k cSadks dh LFkkiuk dh xbZA
• dkykUrj esa RRB dh la[;k c<+dj 196 gks xbZ A
• mn~n's ; & xzkeh.k {ks= esa cSafdax lqfo/kk miyC/k djkukA
• flfDde o xksok esa RRB ugha FkhA
• vf/kdka'k RRB ?kkVs esa py jgs Fks blfy, vc budk foy; vU; okf.kfT;d cSadks esa fd;k tk jgk gSA
• RBI us fu;e cuk;k gS fd vuqlwfpr cSadks dh 25% ubZ 'kk[kk,¡ xzkeh.k {ks=ksa esa gksuh vko';d gSA
• RRB dsUnz ljdkj] jkT; ljdkj rFkk okf.kfT;d cSad dk la;qDr miØe gksrh gSA
dsUnz ljdkj dh fgLlsnkjh = 50%
jkT; ljdkj dh fgLlsnkjh = 15 %
okf.kfT;d cSadksa dh fgLlsnkjh = 35 %
lgdkjh cSad okf.kfT;d cSad

1 ;s jkT; fo/kku e.My ds vf/kfu;e ls LFkkfir gksrs gSA ;s lalnh; vf/kfu;e ls LFkkfir gksrs gSA
2. ;s f=Lrjh; <k¡pk gSA ;s ,dLrjh; <k¡pk gSA
Apex Bank - jkT;
Central Bank - ftyk
Cooperative - xzke iapk;r
Society
3. budk dk;Z {ks= lhfer gksrk gSA budk dk;Z {ks= lhfer ugha gksrkA
4. ;s vuqlwfpr cSadksa dh Js.kh esa ugha vkrsA ;s vuqlwfpr cSad gSA
5. ;s NABARD ls foÙkh; lgk;rk izkIr djrs gSA ;s RBI ls foÙkh; lgk;rk izkIr djrs gSA
6. RBI buds fy, fu;e fofu;e cukrk gSA ¼2005 ls½ RBI buds fy, fu;e&fofu;e cukrk gSA
vkjchvkbZ
❖ 1 vizsy 1935
❖ ;ax fgYVu vk;ksx & flQkfj’k 1926
❖ vkjchvkbZ ,DV 1934 & oS/kkfud laLFkk
❖ Hkkjr ljdkj vf/kfu;e 1935 esa Hkkjr esa dsUnzh; cSad dk izko/kku Fkk
o 1947 rd vkjchvkbZ us cekZ ds dsUnzh; cSad ds :Ik esa Hkwfedk fuHkkbZ FkhA
o dqN le; rd blus ikfdLRkku ds dsUnzh; cSad dh Hkwfedk fuHkkbZ FkhA
o LFkkiuk ds le; vkjchvkbZ ,d futh {ks= ds ikl FkkA
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Economy Notes
o 1 tuojh 1949 dks vkjchvkbZ dk jk"Vªh;dj.k dj fn;k x;k FkkA vkjchvkbZ vc ,d ljdkjh laLFkk gS ysfdu vkjchvkbZ
,d Lok;Rr laLFkk gSA
o vkjchvkbZ LFkkiuk ds le; ls gh ,d dsUnzh; cSad FkkA
vkjchvkbZ ds dk;Z %
o uksVksa dk fuxZeu¼tkjh½ djuk
▪ vkjchvkbZ 2 :- ;k blls vf/kd eqY; ds uksV tkjh dj ldrk gSA
▪ 1 : dk uksV vkSj flDds for ea=ky; ds }kjk tkjh fd;s tkrs gSA
▪ vkjchvkbZ bUgsa cktkj esa forfjr djrh gSA
▪ uksV tkjh djus ds fy,
• xksYM vkjf{kr O;oLFkk
• vkuqikfrd vkjf{kr O;oLFkk
• U;wure vkjf{kr O;oLFkk & 1956 esa bl O;oLFkk dks viuk;k x;kA
o orZeku esa vkjchvkbZ dks 200 djksM+ :- ds cjkcj fjtoZ vkjf{kr j[kus gksrs gSA
+200 djksM
115 djksM lksuk 85 djksM dh vU; ifjlEifr
❖ 1996 esa uksVks dh xka/kh lhjht ’kq: dh xbZA rFkk blls igys ykW;u dsfiVy lhjht ¼v’kksd ds lkjukFk LRkEHk½
❖ cSadks dh fouk;ed laLFkk ¼cSadks dk cSad½ %& ;g cSadks dks ykbZlsal iznku djrk gS A cSadks dks ykbZll
sa dks j) Hkh djrk gS
rFkk cSadks ds fy, fu;e & fofu;e cukrk gSa rFkk mUgsa ykxw djokrk gS A tks cSad fu;eksa ds fo#) dke djrs gS mu ij
dk;Zokgh djuk ] cSfdax {ks= esa fodkl dks lqfuf’pr djrh gS A
❖ ljdkj dk cSadj %& Hkkjr ljdkj ds fy, ?kjsyw _.kksa dh O;oLFkk o izc/ku djrk gS A rFkk ljdkj ds fons’kh _.k dh
O;oLFkk dsUnz ljdkj Lo;a djrh gS A
❖ lkoZtfud _.k izca/ku lsy %& 2016 esa bldh LFkkiuk dh xbZ ;g ,d vLFkkbZ laLFkk gS A tks blds LFkku esa dkykUrj esa
LFkkbZ laLFkk lkoZtfud _.k izca/ku ,tsUlh dh LFkkiuk dh tk;sxh A
o ;g laLFkk Hkkjr ljdkj ds fy, ?kjsyw o ckgjh nksua ks izdkj ds _.kksa dk izcU/ku djsxhA
o fDy;fjax gkml ¼lek’kks/ku x`g½ dh lqfo/kk miyC/k djokuk A
▪ orZeku esa Check truncation system ds ek/;e ls cSadks ds psd fDy;j gksrs gS A
▪ T;knkrj bu gkml dk lapkyu ,lchvkbZ }kjk gh fd;k tkrk gS
▪ fDy;fjax gkml ¼lek’kks/ku x`g½ %& og LFkku tgka ij cSad pSd ds }kjk fd;s x;s Hkwxrkuksa dk fuLRkkj.k
fd;k tkrk gS A
❖ fons’kh eqnzk Hk.Mkj dk laj{k.k %& vkjchvkbZ fons’kh eqnkz Hk.Mkjksa dk lja{k.k djrh gS A blds rgr fuEu phtksa dks
j[kk tkrk gSA
o fons’kh ifjlEifr;k¡ %& ¼MkWyj ] ;wjks ] ;su ] fcfVª’k ikmaM½ gkMZ djsUlh orZeku esa vkjchvkbZ ds ikl 610 vjc dh
gS
o xksYM
o ,lMhvkj %& fo’ks"k vkgj.k vf/kdkj ¼vkbZ,e,Q }kjk tkjh ½
o fjtoZ Vªp sa %& vkbZ,e,Q ds ikl gekjh tek gS A
o : dh fofue; nj dk izca/ku djuk A
▪ : dh fofue; nj cktkj ds }kjk fu/kkZfjr gksrh gSA vFkkZr ekax o vkiwfrZ ds vk/kkj ij fu/kkZfjr gksrh gSA ;fn
:Ik;k etcwr gksrk gSA rks vkjchvkbZ MkWyj [kjhnrh gS ;fn :Ik;k detksj gksrk gS rks vkjchvkbZ MkWyj csprh gSA
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Economy Notes
o Ckktkj dh rjyrk dks fu;af=r djukA

▪ Ckktkj dh rjyrk dks fu;af=r djus ds fy, vkjchvkbZ nks izdkj ds midj.k iz;ksx esa ysrh gSA
Ekk=kRed mik; Xkq.kkRed mik;

Bank Rate Margin Requirement
CRR Consumer Credit Regulation
SLR Rationing of Credit
Reop Rate Moral Suarion
Reverse RepoRate Direct Action
MSF RATE
OPEN MARKET OPERATION
T.L.T.R.O/LTRO
o Bank Rate :- ¼cSad nj½ %&og C;kt nj vkjchvkbZ cSadks dks nh?kZdkfyd _.k miyC/k djokrh gS ;g ,e,l,Q jsV ds
cjkcj gksrh gSA rFkk bu nksua ks dks fiuy jsV dgrs gS A D;ksfa d tks cSad lh,yvkj vkSj ,l,yvkj dks esaVsu ugha djrs gS mu ij
;g C;kt nj yxkbZ tkrh gS A ;g jsiks jsV ls vf/kd gksrh gS A
o uxn vkjf{kr vuqikr %& lHkh cSadks dks viuh ‘kq) ns;rkvksa dks ,d fuf’pr izfr’kr vkjchvkbZ ds ikl tek djokuk iM+rk gS
ftl ij vkjchvkbZ dksbZ C;kt ugha nsrk gS A
▪ ;s vkikr fLFkfr;ksa ds fy, gksrk gS A
o oS/kkfud rjyrk vuqikr (SLR) :- lHkh cSadks viuh 'kq) ns;rkvksa dk ,d fuf’pr izfr’kr rjy ifjlaifr;ksa ds :Ik esa j[kuk
gksrk gS
▪ orZeku esa ;g 18 izfr’kr gS
▪ lHkh cSadks dks viuh ‘’kq) ns;rkvksa dk ,d fuf’pr izfr’kr ljdkjh izfrHkwfr;ksa esa fuos’k djuk vko’;d gS A bl ij cSadks dks
C;kt izkIr gksrk gS A
o jsiks jsV %& og C;kt nj ftl ij vkjchvkbZ cSadks dks vYidkfyd _.k miyC/k djokrh gS A lkekU;r% ;s 28 fnu rd fn;k
tkrk gS A jsiks jsV cSad jsV vkSj ,e,l,Q jsV ls de gksrh gS ;g _.k ysus ds fy, cSad ds ikl izfrHkwfr;ka fxjoh j[kuh gksrh
gS A
o jsiks jsV dks uhfrxr jsV ;k cSap ekdZ jsV dgrs gS
o fjolZ jsiks jsV %&
▪ og C;kt nj ftl ij cSad viuk /ku vkjchvkbZ ds ikl tek djkrs gSA
,y,,Q
▪ ;g lqfo/kk vkjchvkbZ us lu 2000 bZ- esa vkjEHk dhA
▪ blds rgr jsiks cktkj dk fodkl fd;k x;k A
• jsiks dh Qqy QkWeZ %& iqu[kZjhn fodYi (Repurchaes Option)
▪ jsiks ekdsZV %& ;fn /ku dk foØsrk ,d fuf’pr le; ckn vius /ku dks iqu% [kjhnus dk fodYi vius ikl lqjf{kr j[krk gS bls
jsiks cktkj dgrs gSaA
▪ Hkkjr esa vkjchvkbZ o cSadks ds chp vYidkfyd ysunsu dks jsiks ekdsZV dgrs gS
▪ bl ysunsu ds nkSjku izfrHkwfr;k¡ fxjoh j[kh tkrh gS A
▪ bldh C;kt njsa fjolZ jsiks jsV o jsiks jsV dgykrh gS
▪ ujflEgu lfefr dh lykg ds ckn ;g izfØ;k viukbZ xbZ A
▪ bldh C;ktnjsa jiks jsV@fjolZ jsiks jsV dgykrh gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
,e-,l-,Q (Marginal Standing Facility)
▪ ;s lqfo/kk vkjchvkbZ us 2011 bZ- esa vkjEHk dh A

▪ cSadks dh vfrvYidkfyd rjyrk ls lacaf/kr leL;k ds lek/kku ds fy, ;g lqfo/kk tkjh dh xbZ gSA
▪ bl lqfo/kk ds rgr vuqlwfpr cSad vkjchvkbZ ls ,d fnu ds fy, _.k ys ldrs gSA
▪ blds rgr de ls de 1 djksM+ :Ik;s ysus gksrs gS ,d djksM+ ls vf/kd ,d djksM+ ds xq.kd ds :Ik esa gks ldrs gSA
▪ vf/kdre jkf’k cSad dh Lo;a dh 'kq) ns;rkvks ¼ek¡x tek o vof/k tek½ ds ,d izfr’kr rd ys ldrh gSA
▪ bldh C;kt nj ,e-,l-,Q jsV dgykrh gSA vkSj ;g cSad jsV ds cjkcj gksrh gSA
▪ bls fiuy jsV Hkh dgrs gS
▪ ,e,l,Q ds rgr tc vkjchvkbZ ls _.k ysrh gS rks ,l-,y-vkj ds rgr [kjhnh xbZA izfrHkwfr;ksa dks Hkh vkjchvkbZ ds ikl
fxjoh j[kh tk ldrh gS A
▪ ysfdu jsiks cktkj ds fy, cSad ,l-,y-vkj dh izfrHkwfr;ksa dk iz;ksx ugha dj ldrs gSA
[kqys cktkj dh fØ;k (Open Market Operations)

▪ cktkj dh rjyrk dks fu;af=r djus ds fy, vkjchvkbZ dk ;g ,d vfrfjDr midj.k gSA
▪ blds rgr izfrHkwfr;ksa dh [kjhn o fcØh dh tkrh gS A
▪ ;fn cktkj esa rjyrk vf/kd gS vFkkZr mPp eqnkz LQhfr dh fLFkfr gSA rks vkjchvkbZ izfrHkwfr;ksa dh fcØh djrk gSA
▪ ;fn cktkj esa rjyrk de gS vFkkZr voLQhfr ;k vkfFkZd eanh dh fLFkfr gSA rks vkjchvkbZ cktkj ls izfrHkwfr;ksa dks [kjhnrh gSA
▪ jsiks cktkj esa izfrHkwfr;ksa dks fxjoh j[kk tkrk gS tcfd [kqys cktkj dh fØ;k esa izfrHkwfr;ksa dks cstk tkrk gSA
▪ jsiks cktkj vYidkfyd gS tcfd [kqys cktkj dh fØ;k jsiks cktkj dh rqyuk esa nh?kZdkfyd mik; gS
nh?kZdkfyd jsiks vkWijs’ku

▪ cktkj esa rjyrk dks c<+kus ds fy, vkjchvkbZ ds }kjk iz;ksx es fy, tkus okyk ;g Hkh vfrfjDr midj.k gS
▪ 2020 bZ- esa bls vkjEHk fd;k x;k gSA
▪ ,yVhvkjvks ds rgr vkjchvkbZ cSadks dks 1 o"kZ ls 3 o"kZ rd dh vof/k ds fy, _.k miyC/k djokrk gS blesa jsiks nj ls C;kt
olwyk tkrk gSA blds fy, ljdkjh ifjlEifr;ksa dks Hkh fxjoh j[kuk iM+rk gSA
▪ ,yVhvkjvks 1 ds rgr 1 yk[k djksM+ : ds _.k vkjchvkbZ ds }kjk fn;s x;s gS A
▪ ,yVhvkjvks 2 ds rgr 50 gtkj djksM+ : ds _.k vkjchvkbZ ds }kjk fn;s x;s gS A
▪ Targeted ltro:& vkjchvkbZ us ,yVhvkjvks dks Vh&,yVhvkjvks ds :Ik esa ykxw fd;k gS blds rgr vkjchvkbZ us cSadks dks _.k
nsrs le; _.k ds mi;ksx ds y{; Hkh fu/kkZfjr fd;s gS
▪ ;g mi;ksx lcls igys 2009 esa ;qjksfi;u lsUVªy cSad us Hkh bl midj.k dk iz;ksx fd;k Fkk A
o ;fn cSad vkjchvkbZ ls nks fnu dh vf/kd vof/k ds fy, _.k ysrs gS ¼vf/kdre 28 fnu ½ rks C;kt nj VeZ jsiks jsV dgykrh
gSA
o ;fn cktkj es rjyrk vf/kd gS vFkkZr~ mPPk eqnzkLQhfr dh fLFkfr gS rks bls fu;af=r djus ds fy, vkjchvkbZ cSad
jsV]lhvkjvkj],l,yvkj]jsiks jsV]fjolZ jsiks jsV] ,e,l,Q jsV Ck<+krh gSA
o ;fn vofLQhfr dh fLFkfr gS ;k vkfFkZd eanh gS bldk vFkZ dh cktkj esa rjyrk de gS A dh cktkj dh rjyrk dks c<+kus
ds fy, vkjchvkbZ cSad jsV]lhvkjvkj],l,yvkj]jsiks jsV]fjolZ jsiks jsV] ,e,l,Q jsV de djrh gSA
xq.kkRed mik;%
Margin Requirement: blds rgr Margin Money dks de fd;k tkrk gS ;fn eqnkz fLQhfr vf/kd gS rks bls fua;f=r djus
ds fy, Margin Money dks c<+k fn;k tkrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
▪ blds foifjr vofLQhfr ;k vkfFkZd eanh dh fLFkfr gS rks Margin Money dks de dj fn;k tkrk gS A blls ekax vf/kd gks
tkrh gS rFkk vkiwfrZ vf/kd gks tkrh gSA
Consumer Credit Regulation ¼miHkksDrk lk[k fofu;eu½& blds rgr Mkmu iseV sa dh jkf’k dks de ;k vf/kd fd;k tkrk
gSA
▪ mPp eqnzkfLQhfr dh fLFkfr dks fu;af=r djus ds fy, Mkmu iseVsa dh jkf’k dks vf/kd dj fn;k tkrk gS A;fn vkfFkZd eanh fd
fLFkfr gS vFkkZRk~ cktkj esa ekax de gS rks ekax dks c<+kus ds fy, Mkmu iseVsa dh jkf’k dks de dj fn;k tkrk gSA
Rationing of Credit :- ;fn mPp eqnzkLQhfr dh fLFkfr gS rks cSad miHkksDrkvksa dks de _.k miyC/k djokrs gS rFkk fuos’kdksa
dks vf/kd _.k iznku djrs gS A ftlls dh mRiknu c<+s rFkk cktkj esa vkiwfrZ vf/kd gks ;fn vofLQhfr ;k vkfFkZd eanh dh
fLFkfr gS rks cSad miHkksDrkvksa dks vf/kd _.k miyC/k djokrs gS A rkfd ekax c<+ lds
Bank
Investore
Consumer
Invest
Demand & Supply Production
o Moral Suasion :- blds rgr vkjchvkbZ cSadks ij uSfrd ncko mRiuu djrh gS ;fn mPp eqnzkfLQhfr dh fLFkfr gS rks de
_.k nsus dk ncko cukrh gS ;fn mPp vofLQhfr ;k vkfFkZd eanh dh fLFkfr gS rks _.k nsus dk ncko cukrh gSA
o Direct Action :- blds rgr vkjchvkbZ cSadks dks funsZ’k nsrh gS ;fn cSad funsZ’kksa dk ikyu ugha djrh gS rks vkjchvkbZ muds
fo:) dk;Zokgh djrh gSA
izkFkfed _.k {ks=&
cSadks dks viuh _.k ;ksX; ¼,,uchlh½ jkf’k dk 40 izfr’kr izkFkfedrk okys {ks= dks nsuk vko’;d gS
o izkFkfedrk {ks= dks rhu Hkkxksa esa ckaVk x;k gS
▪ d`f"k & 18 izfr’kr ¼ y?kq o lhekUr &10 izfr’kr½
▪ lw{e m|ksx & 7-5 izfr’kr
▪ detksj oxZ & 12 izfr’kr
o izkFkfedrk _.k ds fy, vU; {ks= %&
▪ y?kw m|ksx o e/;e m|ksx
▪ fu;kZrd
▪ ,llh] ,lVh] efgyk,a] dPph cLrh okys yksx
▪ vkokl %& 35 yk[k ¼’kgjks½a xzkeh.k 25 yk[k
▪ ,uch,Qlh & ,e-,Q-vkbZ
▪ f'k{kk & 20 yk[k rd ds _.k
o {ks=h; xzkeh.k cSadks dks _.k ;ksX; jkf’k dk 75 izfr’kr izkFkfedrk okys {ks= esa nsuk gksrk gS A
o LekWy cSadks dks Hkh _.k ;ksX; jkf’k dk 75 izfr’kr izkFkfedrk okys {ks= dks nsuk gksrk gSA
o 'kgjh lgdkjh cSad dks _.k ;ksX; jkf’k dk 40 izfr’kr izkFkfedrk okys {ks= dks nsuk gksrk gS ysfdu bls Øfed :Ik ls c<+k;k
tk jgk gS vkSj vkjchvkbZ us bls 2024 rd 75 izfr’kr djus dk y{; fn;k gSA
ih-,l-,y izek.k i=
o 2016 bZ- esa vkjchvkbZ- us bl lsok dks ‘’kq: fd;k blds rgr tks cSad izkFkfed {ks= esa vius Yk{; ls vf/kd _.k nsrs gS os ih-
,l-,y izek.k i= tkjh dj ldrs gS A rFkk os cSad tks vius ih-,l-,y y{; dks Hksn ugha ikrs gS oks ;s izek.k i= [kjhn dj
vius y{; dks iwjk dj ldrs gS A
▪ 4 izdkj ds ih-,l-,y izek.k i= tkjh fd;s tkrs gS
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• d`f"k ih-,l-,y izek.k i= %

• Yk?kq ;k lhekUr ih-,l-,y izek.k i=
• lq{e m|ksx ih-,l-,y izek.k i=
• lkekU; ih-,l-,y izek.k i=
▪ ih-,l-,y izek.k i= ,d foÙk o"kZ rd gh ekU; gksrs gSA
o ;fn dksbZ cSad vius ih-,l-,y y{; dks iwjk ugha djrk gS rks vkjvkbZMh,Q ml ij tqekZuk yxkrh gS A
❖ iwath i;kZIrrk vuqikr ¼lh-,-vkj½%& cSadks dks viuh tksf[ke ;qDr ifjlEifr;ksa ds ,d fuf’pr izfr’kr rd Lo;a dh iwt
a h cuk;s
j[kuh gksrh gSA
• lh-,-vkj dh vo/kkj.kk csly ekudksa ds rgr viukbZ
xbZ gS
(Bank For International Settlement)
• bldh LFkkiuk 1930 esa gqbZ Fkh

• ;g dsUnzh; cSadks dk laxBu gS
• cSafdx {ks= esa vuqla/kku dks izksRlkgu nsuk rFkk cSafdax
{ks= ds fodkl ds fy, fn’kk funsZ’k tkjh djuk A
bu fn’kk funsZ’kks dks csly ekud dgrs gS A
• bldk eq[;ky; fLoV~tjySaM ds csly 'kgj esa gSA
• csly izFke & 1988 bZ-

• csly f}rh; & 2004 bZ-
• csly r`rh; & 2010 bZ-
• chvkbZ,l ds }kjk tkjh fd, x;s csly ekud dsUnzh; cSadks ds fy,
ck/;dkjh ugha gS A
• ;fn dsUnzh; cSad Lohdkj djrk gS rFkk ns’k esa ykxw djrk gS rks cSadks ds
fy, ;s ck/;dkjh gSA
• 1996 bZ- esa vkjchvkbZ chvkbZ,l dh lnL; cuh Fkh A
• 1999 bZ- esa igyh ckj csly ekudks dks Lohdkj fd;k Fkk A
• orZeku esa csly 3 ekud ykxw fd, x;s gS A cSadks dks 2020 rd dk le; fn;k x;k Fkk A fd oks csly ekudksa dks iqjk
djsa A
• csly & 3 ekudksa ds vuqlkj lh-,-vkj 8% gksuk pkfg, A
• vkjchvkbZ ds vuqlkj futh {ks= ds cSadks ds fy, lh-,-vkj 9% gksuk pkfg,A rFkk lkoZtfud {ks= ds cSadks ds fy, 12 %
gksuk vko';d gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
dkWy euh ekdsZV (Call Money Market)

o jkstejkZ ds ysunsu ds nkSjku dqN cSadks ds ikl /ku dh deh mRiUu gks tkrh gS ysfdu mlh le; dqN vU; cSadks ds ikl
vfrfjDr /ku miyC/k gksrk gS ,slh fLFkfr esa cSdks ds chp tks ysunsu gksrk gS mls dkWy euh ekdsZV dgrs gS A blesa Qksu dkWy
ij gh ysunsu dh lHkh 'krsZ fu/kkZfjr gksrh gS blfy, bls dkWy euh ekdsZV dgrs gSA pwfa d Qksu dkWy ij /ku miyC/k gksrk gS
blfy, bls Money at Market Hkh dgrs gS rFkk bldh C;kt nj dks dkWy jsV dgrs gSA dkWy jsV esa vR;f/kd mrkj p<+ko gksrs
gSA lh-vkj-vkj dks cuk;s j[kus ds fy, Hkh dkWy euh ekdsZV dk iz;ksx fd;k tkrk gS rFkk dkWy jsV ds vR;f/kd mRkkj&p<+ko
dks ns[krs gq, vkjchvkbZ us jsiks cktkj vkSj ,e-,l-,Q dks ’kq: fd;k x;k A
o dkWy euh ekdsZV esa lkekU;kr;k ,d fnu ds fy, /ku m/kkj fy;k tkrk gS ;fn ,d fnu ds fy, iSlk m/kkj fy;k tkrk gS rks
bls dkWy euh dgrs gSA ;fn ,d fnu ls vf/kd fnu ds fy, fy;k tkrk gS rks bls uksfVl euh dgrs gS A vf/kdre 14 fnu
ds fy, fy;k tkrk gSA ftUgsa lh-vkj-vkj vkSj ,l-,y-vkj esaVus djuk gksrk gS oks blesa _.k izkIr djrk vkSj _.knkrk nksuksa
izdkj dh Hkwfedk fuHkk ldrs gSA tSls %& vuqlwfpr cSad] dkWijsfVo cSad] vkj-vkj-ch cSad] ,u-ch-,Q-lh CkSad rFkk dqN cSads tks
dsoy _.k nkrk dk dk;Z gh dj ldrh gS & ,y-vkbZ-lh] ukckMZ] ,u-,p-ch vkfn
o dkWy jsV dks lanHkZ nj Hkh dgrs gS A D;ksfa d dsUnzh; cSad cktkj dh rjyrk dks ns[kus ds fy, bl nj dk lanHkZ ds :Ik esa iz;ksx
fd;k tkrk gSA eqacbZ Hkkjr dk lcls cM+k dkWy euh ekdsZV gS eqacbZ dh lanHkZ jsV fecksj dgykrh gSA 30 cSadks dh dkWy jsV ds
vkadM+s fy;s tkrs gS vkSj mlls ,d vkSlr C;kt nj fudkyh tkrh gS ftls fecksj dgrs gSA yanu fo’o dk lcls cM+k dkWy euh
ekdsZV gS vkSj ;gka dh lanHkZ nj fycksj dgykrh gSA
mftZr IkVsy desVh

• fnlacj 2013 esa bl lfefr dk xBu fd;k x;k A
• 2014 esa lfefr us viuh flQkfj’ks ns nh A
eq[; flQkfj’ks
• vkjchvkbZ dk dsoy ,d gh m)s’; gksuk pkfg, ^^eqnkz LQhfr dks fu;f=r djukA
• vkjchvkbZ ds vU; m)s’;ksa dks viuh izkFkfedrk esa ugha j[kuk pkfg,A tSls& lao`f) nj]jkstxkj l`tu ] fuokZr ds izksRlkgu
] fofue; nj dk izca/ku vkfnA
• eqnzkLQhfr ds ekius ds fy, ohihvkbZ o lhihvkbZ nks lwpdkadksa dk iz;ksx fd;k tkrk gSA ohihvkbZ ds LFkku ij lhihvkbZ ds
eq[; lwpd a kad cuk;k tkuk pkfg,A
• yf{kr eqnzkLQhfr 4 izfr’kr gksuh pkfg, rFkk ;g Ily@ekbul rd Lohdk;Z gSA
• ekSfnzd uhfr leh{kk 45 fnuksa ds ctk; 60 fnu ds varjky ls dh tkuh pkfg,A
• ekSfnzd uhfr ds fu/kkZj.k@leh{kk ds fy, ekSfnzd uhfr lehfr dk xBu fd;k tkuk pkfg,A
• ekSfnzd uhfr lfefr 5 lnL; gksus pkfg,A
• eqnzkfLQhfr dks fua;f=r djus ds fy, ljdkj dk lg;ksx Hkh vko’;d gSA vkSj ljdkj dks vius yksddY;k.kdkjh O;; dks
de djuk pkfg, ftuls dsoy ekax c<+rh gS tSls & eujsxk] [kk| lqj{kk dk;ZØe
• ljdkj ds ,QvkjCkh,e ,DV ds Yk{; dks gkfly djuk pkfg,A
ekSfnzd uhfr lfefr

• 2016 esa ekSfnzd uhfr lfefr dk xBu fd;k x;k 2015 blds fy, laln esa ,d vf/kfu;e ikfjr fd;k FkkA vr % ;g ,d
oS/kkfud laLFkk gSA
• bl lfefr esa 6 lnL; gksrs gSa A
o 3 lnL; vkjchvkbZ ds
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
▪ xouZj ¼v/;{k½ ] mi xouZj ] dk;Zdkjh funs’kd

o 3 lnL; ljdkj
▪ dk;Zdky 3 o"kZ ds fy,
▪ ;g fdlh ykHk ds in ij ugha gkus pkfg,A
• lfefr dh cSBd 'kq: djus ls igys x.kiwfrZ ds fy, 4 lnL; mifLFkr gksus t:jh gSA lfefr viuk fu.kZ; cgqer ls ysxhA
;fn cjkcj ernku gksrk gS rks v/;{k fu.kkZ;d er ns ldrk gSA nks eghusa esa ,d cSBd vko’;d gSA lfefr dh cSBd esa
iw.kZ ikfjnf’kZrk gksuh pkfg,A
• ekSfnzd lfefr dk m)s’; gS eqnzkfLQhfr dks fua;f=r djuk vkSj ;fn rhu =Sekfld ¼9 eghus½ rd fua;f=r ugha fd;k tkrk
gS rks lfefr dks Li"Vhdj.k nsuk gksxkA D;ksa ugha gqbZ fua;f=r] dc rd gksxh] vkSj dSls gksxhA lfefr ds fu.kZ; ysus esa
xouZj ds ikl ohVks ikWoj ugha gksrk gSA
ujflEgu lfefr izFke 1991 bZ-

• cSadks dk jk"Vªh;dj.k ugha fd;k tkuk pkfg,A futh {ks= ds cSadks dks izksRlkgu fn;k tkuk pkfg,A fons’kh cSadks dks Hkkjr esa
izksRlkgu fn;k tkuk pkfg,A fons’kh cSadks vksj Hkkjrh;ksa cSadks ds e/; dksbZ HksnHkko ugha fd;k tkuk pkfg,A lkoZtfud {ks=
ds cSadks esa ljdkj dh fgLlsnkjh de djds 51 izfr’kr dj nsuh pkfg,A lh-,y-vkj vkSj ,l-,l-vkj dks de fd;k tkuk
pkfg,A
• ns’k esa 3 Lrj ds cSad LFkkfir gksus pkfg, A
o vUrjkZ"Vªh; Lrj
o jk"Vªh; Lrj
o LFkkuh; Lrj
ØsfMV bUQksjes’ku C;wjks dh LFkkiuk dh tkuh pkfg,A 2000 bZ- esa LFkkiuk dh xbZA
• _.k olwyh U;k/khdj.k dh LFkkiuk fd tkuh pkfg,A
• Asset Reconstruction Fund dh LFkkiuk fd tkuh pkfg,A
ujflEgu lfefr f}rh; 1998 bZ-

• cSadks ds vkilh foy; dks izksRlkgu fn;k tkuk pkfg,A detksj cSadks dk foy; etcwr cSadks esa ugha fd;k tkuk pkfg,A
detksj cSadks dks usjks cSafdx ds fy, izksRlkfgr fd;k tkuk pkfg,A
• usjks cSad dh lqjf{kr {ks= esa _.k
o ljdkjh izfrHkwfr;ksa esa iz;ksx djuk
• lkoZtfud {ks= dh CkSadks ds vf/kd Lok;Rrk nsuh pkfg,A lkoZtfud {ks= ds cSadks esa ljdkj dh fgLlsnkjh 51 izfr’kr ls de
djds 33 izfr’kr rd dj nsuh pkfg, A ¼vFkkZr & futhdj.k djuk½ csly ekudks dks viuk;k tkuk pkfg, blesa lh-,-
vkj lqfuf’pr fd;k tkuk pkfg,A
• ,uch,Qlh dks vkjchvkbZ ds fofu;eu ds rgr ykuk pkfg,A rFkk foÙk cktkj esa budh Hkwfedk dks vf/kd egRoiq.kZ fd;k
tkuk pkfg,A Mh,QvkbZ dks cSadks ds :Ik esa cny nsuk pkfg,A fons'kh laLFkkxr fuos’kdks dks Vh& fcy esa fuos’k dh vuqefr
nh tkuh pkfg, A
eqnzk vkiwfrZ
• vkjchvkbZ cSadks dh lgk;rk ls eqnzk dh vkiwfrZ djrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
1- pkyw tek [kkrk &

ekax tek
2- cpr tek [kkrk &
3- vko`fr tek [kkrk

vof/k tek
4- fQDlM tek [kkrk
‘’kq) ns;rk,a (NDTL) = dqy ns;rk,a & cSadks dh tek,
eqnzk vkiwfrZ ds leqPp;

• M1- turk ds ikl uxn + cSad ds ikl ekax tek + vkjchvkbZ ds ikl vU; tek,a ¼ljdkj dh tek,a] vU; ns’kksa dh dsUnzh;
cSadks dh tek,a ] vkbZ,e,Q vkfn dh tek,a½
• M2- M1+ Mkd?kj dh vof/k tek,a
• M3- M2+ cSad dh vof/k tek,a
• M4- M3+ Mkd?kjksa dh lHkh tek,a ¼ekax o vof/k tek½
• M1 dks ladh.kZ eqnkz dgrs gS D;ksfa d ;g cSadks ds lk[k ltZu esa dke ugha vkrh gS A
• M2 dks ladh.kZ eqnzk dgrs gS D;ksfa d ;g cSadks ds lk[k ltZu esa dke ugha vkrh gS A
• M3 bls o`g~r eqnzk dgrs gS A D;ksfa d cSad blds }kjk gh lk[k ltZu djrs gS A
rjyrk ds n`f"V dks.k ls M1> M2> M3> M4
• M0= turk ds ikl uxn + vkjchvkbZ dh vU; tek,a + cSad ds ikl uxn ¼lhvkjvkj½
• M0 dks mPp 'kfDr eqnzk dgrs gSA bls fjtoZ eqnkz Hkh dgrs gSA bls ekSfnzd vk/kkj Hkh dgrs gSA
• dsUnzh; cSad M0 ds }kjk cktkj dh rjyrk dks fua;f=r djrh gSA M0 vf/kd gksxk rks rjyrk vf/kd gksxh rks eagxkbZ gksxh
rks rjyrk dks de djus ds fy, vkjchvkbZ M0 dks de djrh gSA cktkj dh rjyrk dks vf/kd djuh gS rks M0 dks vf/kd
dj nsxh A
• M0 dks vkjchvkbZ dh ns;rk,a Hkh dgrs gSA
cSadks ds }kjk lk[k ltZu %& lhvkjvkj vf/kd gS rks lk[k ltZu de gksxkA lhvkjvkj de gS rks lk[k ltZu vf/kd gksrh gSA
vkjchvkbZ lhvkjvkj dks de ;k T;knk djds lk[k ltZu de o T;knk dj ldrh gSA ;fn mPp eqnzkfLQhfr dh fLFkfr gS rks bldks
fu;af=r djus ds fy, vkjchvkbZ lhvkjvkj dks c<+krh gSA
lhvkjvkj vf/kd gS rks lk[k ltZu de gksxk

20 % 20 % 20 % 20 %
100 :- 80 :- 64 :- 51 :- 41 :-
lhvkjvkj de gS rks lk[k ltZu vf/kd gksrh gS

4% 4% 4% 4%
100 :- 96 :- 92.16 :- 88.47:- 84.94 :-

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
eqnzkxq.kkad &1@lhvkjvkj ;k M3/M0

• eqnzkxq.kkd vkSj lhvkjvkj esa udkjkRed laca/k gksrk gSA lhvkjvkj vf/kd rks eqnzk xq.kkad de vkSj eqnzk xq.kkad vf/kd rks
lhvkjvkj de gksrk gS fuEufLFkfr;ksa esa eqnzkxq.kkad esa o`f) gksrh gS
o lhvkjvkj de gks rks
o vFkZO;oLFkk etcwr gks
o miHkksDrk T;knk gks
o yksxks dk cSadks ds izfr yxko vf/kd gksuk
o fMftVy ise a Vs vf/kd gks rks
• M3 vf/kd rHkh gksxk tc M0 vf/kd gks rFkk eqnkz xq.kkad Hkh T;knk gksuk pkfg,A lhvkjvkj T;knk gks] eqnzk dk osx vf/kd
gks] ljdkj vxj vf/kd _.k ys rksA vkjchvkbZ dh lLrh ekSfnzd uhfr & C;kt njsa de gksukA eagxh ekSfnzd uhfr & C;kt
njs vf/kd gksukA
• fofÙk; lekos’ku
• cSadks ds izfr vf/kd yxko gks
o M3 dks gh eqnkz dh vkiwfrZ dgrs gSA
• vkjchvkbZ dh ifjlEifr;ka vkSj mldh ns;rk,a cjkcj gksrh gS A
• vkjchvkbZ dh ifjlEifr;ka & 1- flDds ] 2-lksuk ] 3- fons’kh eqnzk ] ljdkj ds cksM
a
vkjchvkbZ }kjk tkjh fd, x, u, ,xzhesaVl ¼leqPp;½
• NM1 :- turk ds ikl uxn + cSad ds ikl ekax tek + vkjchvkbZ ds ikl vU; tek,a ¼ljdkj dh tek,a ] vU; ns’kksa dh
dsUnzh; cSadks dh tek,a ] vkbZ,e,Q vkfn dh tek,a ½
• NM2 :- NM1+ cSad dh vYi dkfyd vof/k tek ¼fuoklh½ + cSad ds }kjk tkjh dh xbZ lh-Mh
• NM3 :- NM2+ cSad dh nh?kZdkfyd vof/k tek ¼fuoklh½ + Term Deposite of Banks
• L1 = NM3 + Mkd?kjksa dh lHkh tek,a ¼us’kuy lsfoax ckWUM~l blesa 'kkfey ugha gksrs½
• L2 = L1 + Refinance Agency (Deposites+Borrowings+Certificate on Deposites)
• L3 = L2 + Deposites of NBFC
vkjchvkbZ vius vkadM+s dc tkjh djrh gSA
• M0 ds vkadM+s gj lIrkg esa tkjh djrh gSA Nm1+Nm2 ds vkadM+s gj i[kokM+as esa tkjh djrh gSA L1 + L2 ds vkadM+s gj
eghus esa tkjh djrh gSA L3 ds vkadM+s gj rhu eghus esa tkjh fd;s tkrs gSA
(BPLR) – Benchmark Prime Lendig Rate
• 2004 esa bls vkjEHk fd;k x;kA og C;kt nj tks vius lcls vPNs miHkksDrk dks iznku dh tkuh tkrh gSA
• cSad ds nks izdkj ds miHkksDrk gksrs gS-
o izkbe miHkksDrk
o lcizkbe miHkksDrk %& ftu miHkksDrk esa tksf[ke de gksrk gS
• lkEkkU; C;ktnj = PLR + tksf[ke
• bldh x.kuk dks dksbZ vk/kkj ugha FkkA blesa dksbZ ikjnf’kZrk ugha FkhA ih,yvkj cSadks ds fy, ck/;dkjh ugha Fkh cSad de
nj is Hkh _.k ns ldrh FkhA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Base Rate
• 2010 esa bls PLR ds LFkku ij bldks 'kq: fd;k x;kA cSad ds }kjk miyC/k djokbZ xbZ U;qure C;ktnj vFkkZr cSad blls
de C;ktnj ij C;kt fdlh dks ugha ns ldrk gSA
• csl jsV dh x.kuk fuEu dkjdksa ds vk/kkj ij dh tkrh FkhA
▪ Cost of Fund
▪ Cost of CRR
▪ Operating Expensex
▪ Profit
dkykUrj esa vkjchvkbZ us viuh jsiksjsV de dh ysfdu mlds vuq:Ik cSadks us viuh C;ktnjksa (Base Rate) dks de ugha fd;k D;ksfa d
csl jsV izR;{k :Ik jsiks jsV ls tqM+h gqbZ ugha Fkh blfy, ekSfnzd uhfr dks vf/kd izHkkoh cukus ds fy, csl jsV ds LFkku ij ,elh,yvkj
dks ykxw fd;kA
MCLR – Marginal Cost of Fund Based Lending Rate
• 2016 bZ- esa csl jsV ds LFkku ij bls ykxw fd;k x;kA
• fuEu dkjdksa ds vk/kkj ij MCLR dh x.kuk dh tkrh gS
o Marginal Cost of Fund
o Nagetive Carry on Acc. Of CRR
o Operating Expensex
o Tenor Premium :- nh?kZdkfyd _.kksa ij olqyk tkus okyk vfrfjDr C;kt
• cSadks ds fy, ;g vfuok;Z dj fy;k gS fd izfrekg dh x.kuk dh tk;sA cSad csljsV ls de nj ij _.k ugha ns ldrk
MCLR
gSA MCLR ds ykxw gksus ls vkjchvkbZ dh ekSfnzd uhfr vf/kd izHkkoh gks xbZ gSA og cktkj dh C;ktnjksa dks de T;knk dj
ldrh gSA cSad MCLR ls T;knk C;kt nj olwy ldrh gSA
isesaV cSad
• bldh LFkkiuk 2007 esa fd xbZ FkhA vko’;d iwt a h & 100 djksM+ dh iwt
a hA izeksVjlZ dh fgLlsnkjh & 40 izfr’krA m)s’; &
vkWuykbZu Hkqxrku dh lqfo/kk miyC/k djokukA
• foÙkh; lekos’ku
• ufpdsrk eksj desVh dh flQkfj’k ls iseVsa cSad LFkkfir dh xbZ FkhA ;g 2 yk[k rd dh tek,a Lohdkj dj ldrs gSA ;g vof/k
tek,a ugha ls ldrs gSA ;g MsfcV dkMZ miyC/k djokrk gSA ;g uxn fudklh dh lqfo/kk nsrk gSA ;g _.k ugha ns ldrs gSA
;g ØsfMV dkMZ tkjh ugha dj ldrs gSA budks lh-,y-vkj vkSj ,l-,y-vkj ds ekudksa dk ikyu djuk gksrk gSA
• lh-vkj-vkj tek djkus ds ckn 'ks"k jkf’k dk 75 izfr’kr ,l-,y-vkj ds :Ik esa tek djokuk gksrk gSA 'ks"k 25 izfr’kr cSad [kkrksa
esa tek gksuk pkfg,A
o isVh,e cSad] ,;jVsy cSad]
LEkkWy cSad
• LFkkiuk & 2015
• vko';d iwt a h & 100 djksM+
• izeksVlZ dh fgLlsnkjh & 40 djksM+

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• m)s’; & foÙkh; lekos’ku

• ;g xzkgdks dks 4 izdkj ds [kkrksa dh lqfo/kk miyC/k djokrk gSA ;g fdruh Hkh tek,a ys ldrs gS bUgsa lh-,y-vkj ] ,l-,y-
vkj ds fu;eksa dk ikyu djuk iM+rk gSA bUgsa 50 izfr’kr dh jkf’k NksVs _.k gksus pkfg,A os _.k tks 25 yk[k ;k blls de
jkf’k ds gksrs gSA blds fy, ih-,l-,y dh fyfeV 75 izfr’kr gksuh pkfg,A ;s cSad d`f"k] lq{e m|ksx] y?kq m|ksx] cM+s m|ksx
lHkh dks _.k ns ldrs gSA
o ,-;w- LekWy cSad bldk mnkgj.k gS] mTthou LekWy cSad
eqnzk cSad %& Micro Units Development and Refinance Agency

• 2015 bZ- esa iz/kkuea=h eqnzk ;kstuk dh ?kks"k.kk dh xbZ Fkh A mlds rgr gh eqnzk cSad dh LFkkiuk dh xbZ FkhA ;g flMch dh
lgk;d laLFkk gSA ;g fjQkbusl a laLFkk gSA ;g cSadks vkSj vU; QkabZul
sa laLFkkvksa ds ek/;e ls lq{e bdkbZ;ksa ds fy, _.k miyC/k
djokrs gSA
• ;g fuEu ds fy, _.k miyC/k djokrh gSA
o ekbØks ;qfuV ¼lw{e bZdkbZ;ks½a
o NksVs O;kikjh
o jsgM+h okys
o ;g d`f"k {ks= esa _.k ugha nsrs gSA
o ;g rhu izdkj ds _.k miyC/k djokrs gS
▪ f’k’kq & 50 gtkj rd ds
▪ fd’kksj & 50 gtkj ls 5 yk[k rd
▪ r:.k & 5 yk[k ls 10 yk[k rd
yksdy ,fj;k cSad

• 1996 bZ- esa LFkkfir fd;s x;s FksA ujflEgu lfefr dh flQkfj’k ls ;g cSad LFkkfir fd;s x;s FksA ;g futh {ks= ds cSad gksrs
gSA vkjchvkbZ budk fofu;eu djrk gSA ;g vuwlqfpr cSad Hkh cu ldrs gSA vf/kdre 3 ftyksa rd ;g foLr`r gks ldrs gSA
• orZeku esa dsoy 4 yksdy ,fj;k cSad gSA
Development Finance Institution –
• ;g fdlh m)s’; fo’ks”k ds fy, LFkkifr fd;s tkrs gSA ;g vius xzkgdksa dks fuEu lqfo/kk,a miyC/k djokrs gSA
o foÙkh; lgk;rk nsrs gSA
o xkjaVj dh Hkwfedk fuHkkrs gS & nwljksa ls _.k fnykrs gSA
o rduhd o izca/ku rFkk foi.ku dkS’ky esa lgk;rk djrs gSA
o vfHkxksiu dh lqfo/kk nsrs gSA
o ;s O;kikfjd esys o lsehukj dk vk;kstu djrs gSA
o iqufZ oÙk esa lgk;rk miyC/k djokrk gSA
Industrial Finance Corporation of India

• 1948 esa LFkkfir
• ;g ns’k dk igyk Mh-,Q-vkbZ gS
• ljdkj ds LokfeRo esa LFkkfir

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
IFCI (INDUSTRIAL FINANCE CORPORATION OF INDIA)-

• 1955 bZ- esa nwljk Mh-,Q-vkbZ LFkkfir&vkbZ-lh-vkbZ-lh-vkbZA
• 2002 bZ- esa ;s vkbZ-lh-vkbZ-lh-vkbZ cSad cu x;k FkkA
• 1964 bZ- esa & vkbZ-Mh-ch-vkbZ
o igys bldk LokfeRo vkjchvkbZ ds ikl Fkk
o 1976 bZ- esa bls ljdkj us vius LokfeRo esa ys fy;k Fkk
o 2004 bZ- esa ;g cSad cu x;k A
o 2018 bZ- esa ,y-vkbZ-lh us Hkkjr ljdkj ls blds 'ks;j [kjhns
All India Refinance Agency
EXIM BANK NABARD NHB SIDBI
• 1982 esa LFkkifr • 1982 esa LFkkfir • 1988 esa LFkkiuk • LFkkiuk& 1990bZ-
• f'kojeu lfefr dh • eq[;ky; & fnYYkh • eq[;ky; & y[kuÅ
flQkkfj’k ls
• LokfeRo & Hkkjr • ljdkj o vkjchvkbZ • 100 izfr’kr • LFkkiuk ds le;
ljdkj ds ikl • 2010 esa bldks Hkkjr vkjchvkbZ ds LokfeRo bldk 100 izfr’kr
okyh laLFkk LokfeRo vkbZMhchvkbZ
ljdkj us [kjhnk
ds ikl Fkk A
• 2018 esa bldk iw.kZ • ysfdu 2019 esa Hkkjr
• orZeku esa bldk
LokfeRo Hkkjr ljdkj us bls [kjhn LokfeRo Hkkjr
ljdkj us ys fy;k fy;k A ljdkj ] ,lchvkbZ ]
• ,yvkbZlh rFkk vkSj
Hkh dbZ laLFkkvksa ds
ikl blds 'ks;j gS
• 1915 esa vkj-vkbZ-Mh- • ;g gkmflax {ks= ds • y?kw m|ksxks ds
,Q dh LFkkiuk fodkl ds fy, fodkl ds fy,
iqufZ oÙk dh lqfo/kk iqufZ oÙk dh lqfo/kk
miyC/k djokrh gSA miyC/k djokuk A
• RESIDEX bUMsDl • orZeku esa eqnzk cSad
tkjh djuk • LVsM
a vi bafM;k
• fu;a=d dk dk;Z • LekWy bUVjizkbtst
ds fodkl ds fy,
foÙk
• CRISIDEX bUMsDl
tkjh djrk gS

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
,uch,Qlh %& ukWu cSafdax QkWbZusl

a dEiuh
• os foÙkh; laLFkk, ftuds ikl cSad dk ykbZllsa ugha gS ysfdu QkbZual
s dk dk;Z djrh gSA tSls & bU';ksja ’s k dEiuh] is’a ku
QaM] E;wpy QaM] ,e-,Q-vkbZ] foÙkh; laLFkku] ctkt QkbZul sa ,uch,Qlh dh LFkkiuk dEiuh ,DV ds rgr dh tkrh gSA
budh la[;k Hkkjr esa orZeku esa 10 gtkj ls vf/kd gSA budh LFkkiuk ds fy, vko’;d iwt a h vyx&vyx gksrh gSA 2
djksM+ ] 5 djksM+ bR;kfn-
• budh fofu;ked laLFkk,a Hkh vyx & vyx gksrh gS A
• tSls & vkbZvkjMh, ] ih,QvkjMh,],lbZchvkbZ
• dsoy 108 laLFkk, turk ls tek,a ys ldrh gS vU; ,uch,Qlh oks turk dh tek,a Lohdkj ugha dj ldrh gSA ;s dsoy
vof/k tek,a Lohdkj djrh gSA ;g pSdcqd tkjh ugha dj ldrs gSA fdlh Hkh rjg dk dkMZ miyC/k ugha dj ldrh gSA
budh tek,a MhvkbZlhthlh ls lajf{kr Hkh ugha gksrh gSA bUgsa lhvkjvkj dks cuk;s ugha j[kuk gksrk gSA bu ij ,l-,y-vkj
ds fu;e ykxw gksrs gSA cSly ekud bu ij Hkh ykxw gksrs gS A
Banking Ombudsman – cSfdax yksdiky
• 1999 bZ- esa 15 yksdiky fu;qDr fd;s x;s A

• orZeku esa 22 yksdiky gS
o cSad xzkgdks dh f’kdk;rksa dks fuiVkjk djuk budk eq[; dk;Z gS A
o cSafdx yksdiky fuEu cSadks ds f’kdk;rksa lquokbZ djrk gS A
▪ vuqlwfpr cSad
▪ fjtuy :jy cSad
▪ vcZu dkWijsfV~o cSad¼tks vuqlwfpr gS ½
▪ ,uch,Qlh¼dsoy QkbZul sa ls lcaf/kr½
o fuEu izdkj dh f’kdk;rsa Lohdkj djrh gS &
▪ ;fn le; ij cSad Hkqxrku ugha djrk gS-
▪ pSd ;k Mh-Mh le; ij fDy;j ugha gksrs gS-
▪ ;fn flDds Lohdkj djus ls euk dj nsa-
▪ lHkh nLrkost gksus ds ckotwn [kkrk [kksyus ls euk dj ns ;k [kkrk cUn djokus dk euk dj ns-
o fuEu izdkj dh f’kdk;rsa yksdiky ds ikl ugha dh tk ldrh gS A
▪ lh/ks dksbZ f’kdk;r yksdiky ds ikl ugha dh tk ldrh gS-
▪ igys czkap eSustj dks f’kdk;r djuh gksrh gS vkSj ,d eghusa esa f’kdk;r dk fuiVkjk ugha gksrk gS rks cSafdax yksdiky ds
ikl f’kdk;r dh tk ldrh gSA
▪ ,d lky ls igys dh f’kdk;r ugha dh tk ldrh gSA
▪ 20 yk[k ls vf/kd dk ekeyk gS rks cSafdax yksdiky ds ikl f’kdk;r ugha dh tk ldrh gS-
▪ ;fn ekeyk igys ls Mh-vkj-Vh @ ,u-lh-,y-Vh @ miHkksDrk U;k;ky; ds ikl gks rks lquokbZ ugha dh tk ldrh gSA
▪ lkekU; izdkj dh lquokbZ ugha dh tk ldrh gSA
o cSafdax yksdiky ds QSlys ds fo:) vkjchvkbZ ds mixoZuj ds le{k vihy dh tk ldrh gSA
o cSafdax yksdiky cSad ij ,d yk[k :i;s rd dk tqekZuk yxk ldrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Mh-vkbZ-lh-th-lh & Deposit Insurance and Credit Guarantee Agency

• LFkkiuk & 1978 bZ- esa gqbZ FkhA
• LokfeRo & vkjchvkbZ ds ikl gSA
• QkbZuafs l;y fjtksY;w’ku fMiksftV ba’;ksjl
sa fcy 2017 laln esa is’k fd;k x;k vkSj bl fcy esa Mh-vkbZ-lh-th-lh ds LFkku ij
fjtksY;w’ku dkWjiksjs’ku dh LFkkiuk djus dk izko/kku FkkA Ysfdu bl fcy dh vkykspuk ds dkj.k ;g LFkkfir ugha fd;k tk
ldkA OkrZeku esa Mh-vkbZ-lh-th-lh gh dk;Zjr gS ijarq bldks vkSj vf/kd l’kDr o izHkkoh djus dh vko’;drk gS
Finacial Stability and Development Conncil–
• bldh LFkkiuk 2010 esa dh xbZ

• blds v/;{k & dsUnzh; foÙk ea=h gksrs gS
• blds lnL; & vkjchvkbZ xouZj gksrs gS
• vkbZvkjMh, dks pS;jesu ] ih,QvkjMh, ] ,lbchvkbZ ] vkbZchchvkbZ ds pS;jesu
• eq[; vkfFkZd lykgdkj Hkh blds lnL; gksrs gS
• foÙk ea=ky; ds lfpo Hkh blds lnL; gksrs gS
• bldk m)s’; &
o foÙkh; fLFkjrk
o foÙkh; lekos’ku
o foÙkh; fodkl
o foÙkh; lk{kjrk
cSadks ds foy; ds ykHk&

• cSadks ds foy; ls cM+s cSad vfLrRo esa vkrs gSA budk foÙkh; vk/kkj O;kid gksrk gS ftlls ;s etcwr cSad ds rkSj ij mHkjrs gSA
• orZeku esa oS’ohdj.k dk nkSj gS rks cM+s cSad vUrjkZ"Vªh; Lrj ij izfrLi/kkZ dj ldrs gSA orZeku esa fo’o ds 50 lcls cM+s cSadks
esa Hkkjr dk ,d Hkh cSad 'kkfey ugha gS tcfd 100 cM+s cSadks esa ,dek= ,lchvkbZ cSad 'kkfey gSA ;fn foÙkh; vk/kkj vf/kd
O;kid gks rks og cM+h ifj;kstukvksa dks _.k ns ldrs gS ¼vk/kkj Hkwr <+kaps ls lacaf/kr ifj;kstuk,a½ blls ns’k dh th-Mh-ih nj esa
o`f) gksxhA cSadks dk fofu;eu vklku gksxkA
• cM+s cSad gksus ds ckn fnokfy;k gksus dks [krjk de gks tkrk gS A D;ksfa d mldh tksf[ke mBkus dh {kerk vf/kd gksrh gSA foy;
ds ckn vU; {ks=ksa esa cSad dh 'kk[kk,a [kksyh tk ldrh gS A ¼,d gh txg ij ;fn nksuksa cSadks dh 'kk[kk,a gS rks ,d czkap dks
LFkkarfjr fd;k tk ldrk gS½ ifjpkyu O;; esa deh vk;sxhA foKkiu O;; esa deh vk;sxh foy; ls igys lHkh cSadks dks vyx
& vyx foKkiu djuk iM+rk FkkA ,u-ih-, esa deh vk;sxhA ljdkj ij foÙk iks"k.k dk Hkkj de jgsxkA cSly ekudks dks ikyu
djuk vklku gks tk;sxkA foy; ls dk;Zdq’kyrk esa lq/kkj gksrk gSA
CkSadks ds foy; dh gkfu;ka &

• cktkj esa izfrLi/kkZ de gks tkrh gS cM+s cSadks dk ,dkf/kdkj gks ldrk gSA ;fn detksj cSad dk foy; etcwr esa fd;k tkrk gS
rks cM+s cSad ij Hkh udkjkRed izHkko iM+rk gSA cM+s cSad ds foQy gksus ij vkfFkZd ladV gksus dh laHkkouk jgrh gSA deZpkfj;ksa
dh NVuh ls inksUufr dh leL;k jgrh gSA
• {ks=h; igpku ds dkj.k ykxksa dk tqM+ko gksrk gS oks de gks tkrk gSA
• foy; esa le; vkSj lalk/kuksa dk viO;; gksrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
fu"d"kZ & ns’k dh cSafdx iz.kkyh dks vius vk/kkjHkwr <kaps esa ifjorZu djuk pkfg, vkS j Lo;a dks vk/kqfud ;qx dh cnyrh vko’;drkvksa
ds lkFk cnyus dk iz;kl djuk pkfg,A
Non-Performing Assets (NPA)–

• ;fn fdlh _.k dk C;kt o ewy/ku 90 fnu rd ugha pqdk;k tkrk gS rks mls ,u-ih-, ?kksf"kr dj fn;k tkrk gS vFkkZr fdlh
_.k dh fdLr 3 ekg cdk;k jgrh gS
• ,u-ih-, rhu izdkj dk gksrk gS
o Substandared NPA – dksbZ Hkh _.k ,u-ih-, ?kksf"kr gksus ds ckn 12 ekg rd ?kfV;k ,u-ih-, dgykrk gS-
o Doubtfull NPA – Substandared NPA ?kksf"kr gksus ds 12 eghus ckn og ,uih, Doubtfull NPA dgykrk gSA
o Loss NPA - ;fn fdlh _.k dh olwyh dh laHkkouka, yxHkx lekIr gks tkrh gS ysfdu vHkh Hkh cSyal s 'khV esa budk
mYys[k fd;k tkrk gS mls Loss NPA dgrs gS
• d`f"k _.kksa ds fy, Qly PkØ ds vk/kkj ij ,uih, dh ?kks"k.kk dh tkrh gSA
,uih, ds izHkko&
• ;fn cSad dk ,uih, vf/kd gS rks cSad ?kkVs esa jgsxk rFkk varr% cSad foÙkh; :Ik ls vlQy gk ldrk gS
• cSadks ds }kjk u;k lk[k l`tu ugha gksxk vFkkZr~ cSad u, _.k ugha ns ldrkA fuos’k ij izfrdwy izHkko iM+x
s k rFkk mRiknu de
gksxk vkSj csjkstxkjh vf/kd gksxhA;fn cSad vlQy gksrs gS rks vesfjdk dh rjg vkfFkZd eanh vk ldrh gSA
Twin Blance Sheet Problem–

• 2016&2017 ds vkfFkZd losZ esa bldk [kqykl fd;k x;k Fkk ftlds rgr vk/kkjHkwr <kaps okyh daifu;ksa dks _.k fn;s Fks ysfdu
i;kZoj.kh; ekeys o Hkwfe vf/kxzg.k lac/kh leL;kvksa ds dkj.k ;s izkstsDV le; ij iw.kZ ugha gks lds rFkk chp esa vVd x, ftlls
bu dEifu;ksa dh cSaysl 'khV esa ifjlaifr;ksa dh rqyuk esa ns;rk,a vf/kd gks xbZA
• ;g cSadks dks _.k dk Hkqxrku ugha dj ldh blls cSadks dk ,uih, vf/kd gks x;k ftlls cSadks dh csyl sa 'khV Hkh fcxM+ xbZA
bls gh Twin Blance Sheet leL;k dgrs gSA blesa eq[;r;k lkoZtfud {ks= ds cSad 'kkfey gSA yxHkx 40 izfr’kr daiuh
yksu tksf[ke okys _.k gks pqds gS vFkkZr~ og daifu;k C;kt dk Hkqxrku djus dh fLFkfr esa Hkh ugha gSA iwjs cSafdax {ks= dk ,uih,
yxHkx 9-5 izfr’kr rd gks pqdk gS rFkk dsoy lkoZtfud {ks= ds cSadks dk ,uih, yxHkx 12 izfr’kr rd gks pqdk gSA 1997&98
esa nf{k.k dksfj;k esa cSadks dk ,uih, 8-9 izfr’kr rd igqapk Fkk ftlls ogka vkfFkZd ladV mRiUu gks x;k FkkA
,uih, c<+us ds dkj.k&

• Lku~ 2000 ds igys n’kd esa vFkZO;oLFkk esa rsth Fkh vr% cSadks ds chp izfrLi/kkZ vf/kd gks xbZ Fkh A rks blfy, cSadks us ljy
'krksZ ij _.k miyC/k djok;s ysfdu 2008&09 dh vesfjdu vkfFkZd eanh us vFkZO;LFkk dh rsth dks jksd fn;k] cktkj esa ekax
de gks xbZ ] fu;kZr de gks x;s blls gekjs fu;kZr Hkh de gks x;s Fks blls dEiuh;ksa ij izfrdqy izHkko iM+kA
• i;kZoj.kh; eqn~nksa ds dkj.k U;kf;d lfØ;rk vf/kd c<+ xbZ gS U;kyky; us vusd ifj;kstukvksa ij jksd yxk j[kh gS A Hkwfe
vf/kxzg.k dh izfd;k vR;f/kd tfVy gS ftlls ifj;kstukvksa esa nsjh gks tkrh gS
• lkoZtfud {ks= ds cSadks esa ljdkj dk gLr{ksi vf/kd gS bu cSadks dks vf/kd Lok;Ùkrk ugha gSA blh dkj.k lkoZtfud {ks= ds
cSadks dk ,uih, vf/kd gS Hkkjr ds dqy ,uih, ds 80 izfr’kr ,uih, lkoZtfud {ks= dh cSadks dk gS cSad _.k nsrs le; vusd
vfu;errk,a gksrh gS tSls & cM+h ifj;kstvksa ds foÙkh;u esa ikjnf’kZrk ugha gksrh gSA xyr nLrkost is’k fd;s tkrs gS] ifjlEifr;ksa
ds fcuk Hkh vfxze Hkqxrku dj fn;k tkrk gSA xkjUVh dh i;kZIr O;oLFkk ugha gksrh gSA
• ljdkj ds }kjk dqN dkWjijsV ?kjkuksa dks dqN fo’ks"k NwV nsrh gSA 'ksy dEiuht dh la[;k vf/kd gksukA dqN yksxksa ds }kjk cSad
esa ?kksVkys fd;s x;s tSls & fot; ekY;k ] uhjo eksnh ] esgqy pkSdlh ] gkykafd Hkkjr esa dqy ,uih, dh leL;k esa budh Hkwfedk
de gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• cSadks us vius ,uih, dh leh{kk lgh rjhds ls ugha dh rFkk _.k nkrkvksa ds C;kt dks pqdkus ds fy, u;s _.k miyC/k djok;s
x;sA
,uih, dh leL;k dks gy djus ds fy, fd, x;s lek/kku&

• ijEijkxr iz;kl & ns’k esa 29 MhvkjVh 1993 esa LFkkfir fd, x;s gS
o 5 Mhvkj,Vh LFkkfir fd, x;s FksA ;g fo’ks"kK U;k;ky; gksrs gS tks _.k olwyh ds ekeyksa dh gh lquokbZ djrs gSA
• lu~ 2000 esa lhvkbZCkhvkb,y ¼flchy& ØsfMV bUQksesZ’ku C;wjw ks vkWQ bafM;k fyfeysV½ dh LFkkiuk dh xbZ FkhA
• ,l,vkj,Q,bZ,lvkbZ ¼ljQkblh½ ,DV & 2002 esa ;g ,DV ikfjr fd;k x;k gSA bl ,DV ds vk/kkj ij ,LlsV fjdUlVª’ku
dEiuh & ;g cSadks ds ,uih, [kjhnrh gS rFkk mudk iqufuZek.k djrh gSA rFkk cktkj esa bldk fuLiknu dj nsrh gSA
• lh,vkj dh v;o/kkj.kk LFkkfir fd xbZ &
• vusd
as lsVyesaV Ldhe 'kq: dh xbZ ftlds rgr cSadks dks fMQkYVj ds lkFk lsVyesVa djus ds vf/kdkj ns fn;s x;s gSA
,uih, dh leL;k ds fy, orZeku ds egRoiw.kZ mik;&

bu lek/kkuksa dks 4R uke fn;k x;k gS
1. Recognition
2. Resolntion
3. Recapitalisation
4. Reform
1. Recognition -
• Special Mantion Ac 0 - ;fn 30 fnu rd fd’r dk Hkqxrku ugha fd;k tkrk gksA
• Special Mantion Ac 1 - ;fn 30 ls 60 fnu rd fd’r dk Hkqxrku ugha fd;k tkrk gksA
• Special Mantion Ac 2 - ;fn 30 & 90 fnu rd fd’r dk Hkqxrku ugha fd;k tkrk gksA
• 90 fnu rd ugha gksrk rks ,uih, esa pyk tkrk gSA
• cSadks ds fy, ;g vfuok;Z gS dh oks ,l,e, _.kksa dh lqpuk vkjchvkbZ dks miyC/k djok;s
2. ifjlEifr;ka xq.koÙkk leh{kk & blds rgr ifjlEifr;ksa dh xqorÙkk dk ijh{k.k Lora= laLFkkvksa ds }kjk fd;k tkuk pkfg, A
rFkk vkjchvkbZ ds ekudks ds vuq:Ik gh ifj{k.k fd;k tkuk pkfg,-
3. Promt Corrective Action ( PCA) – 2002 esa bls foey >kyku rkRdkfyd vkjchvkbZ xouZj }kjk 'kq: fd;k x;k blds
ckn 2017 esa mftZr iVsy ds le; bUk izko/kkuksa dks vf/kd dBksj dj fn;k x;k gS A blds rgr cSadks ds ,uih, ij fuxjkuh
j[kh tkrh gS ;fn cSadks ds ,uih, vf/kd gs rks vkjchvkbZ cSad ds fo:) dBksj dk;Zokgh djrh gS-
cSad dh fLFkfr dk eqY;kdu rhu vk/kkj ij fd;k tkrk gS &
1. cSad dh ifjlEifr;ka vkSj ,uih,
2. iwta h i;kZIrrk ¼csly ekud½
3. ykHk ¼fiNys o"kksZ½
• ;fn fdlh cSad dks ihlh, dh fyLV esa 'kkfey fd;k tkrk gS rks vkjchvkbZ mudks l[r funsZ’k nsrh gS cSadks dh vyx ls
vkWfMV djokbZ tkrh gSA funs'kd ds osru dks jksdk tk ldrk gS] ykHkka’k forj.k dks jksdk tk ldrk gS A cSad dh ubZ
'kk[kkvksa vkSj ubZ fu;qfDrvksa ij Hkh jksd yxk nh tkrh gSA
• _.k xfrfof/k;ksa dks Hkh jksdk tk ldrk gS
• Willful Defaulters dh igpku djuk
4. Legal Entity Indentifier - tks Hkh dEiuh ;k cSad 1 gtkj djksM+ :Ik;s dk Hkwxrku djrh gS mUgsa ;g uEcj ysuk vko’;d
gksrk gS oSf’od Lrj ij ;g uEcj ysuk vko’;d gS A blesa 20 fMthV dk uEcj fn;k tkrk gSA
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
5. Fugitive Economic Offender Act 2018
bl ,DV ds vUrxZr ftl O;fDr us 100 djksM+ ;k mlls vf/kd dk vkfFkZd vijk/k fd;k gS rFkk ns’k NksM+dj Hkkx x;k gSA rks
ml ij vkijkf/kd ekeyk ntZ fd;k tk;sxk rFkk fizo’sa ku vkWQ euh YkkWUMªhax ,DV ds rgr LFkkfir fo’ks"k U;k;ky; }kjk bldh
lquokbZ dh tk;sxhA rFkk mldh laEifr dks tCr dj fy;k tk;sxkA
6. Resolution – blds rgr nks phtsa dh tkrh gSA 1- iqufuZek.k 2- iquoZlqyh
SARFAESI ACT 2002 – 1991 bZ- esa ujflEgu lfefr us MhvkjVh LFkkfir djus dh vuq’kalk dh Fkh blfy, 1993 bZ- esa Mh-vkj-Vh
dh LFkkiuk dj nh xbZ FkhA ysfdu bu Mh-vkj-Vh ds ikl vf/kd 'kfDr;ka ugha FkhA blfy, ujflEgu lfefr f}rh; us _.k olqyh
ds fy, dBksj dkuwu dh vuq’kalk dh FkhA blfy, SARFAESI ACT dks ikfjr fd;k x;kA
“Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest”
• bl dkuqu ds rgr _.knkrkvksa dks fo’ks"k vf/kdkj fn;s x;s gSA _.knkrk 60 fnu dk uksfVl nsdj fxjoh j[kh gqbZ ifjlEifr;ksa
dks tCr dj ldrk gSA
• ;g dEiuh ds cksMZ vkWQ MkW;jsDVjlZ esa cnyko dj ldrs gSA os fxjoh j[kh gqbZ ifjlEifr;ksa dks fuyke dj ldrs gSA
• fxjoh j[kh izkWiVh dks ,vkjlh dks csp ldrs gSA _.k izkIr djrk gS tks lkekU; U;k;ky; esa ls LVs ugha yk ldrk gSA mls Mh-
vkj-Vh ds ikl tkuk gksxkA
• Mh-vkj-Vh ds ckn O;fDr Mh-vk-,-Vh ds ikl tk ldrk gSA vihyh; U;k;kf/kdj.k _.k dh 50 izfr’kr dh jkf’k tek djokus ds
ckn gh mldh vihy dks Lohdkj djsx a kA
• Mh-vkj-Vh ds ckn _.kizkIr drkZ mPp U;k;ky; esa vihy dj ldrk gSA
SARFAESI ACT dh 'kfDr;ka
1- lHkh izdkj dh vuqlqfpr cSad

2- ukWu cSafdax QkbZual
s dEiuh
3- gkWmflax QkbZual
s dEiuh
4- dkWijsfVo cSad & 2020 bZ- esa lqizhe dksVZ ds fu.kZ; ds ckn
SARFAESI ACT dh deh;ka-
1- LVkQ dh deh
2- ekeyksa dh lquokbZ le; ij ugha gksrh gS
3- 1 yk[k ls vf/kd ekeys yfEcr iM+s gSA
4- tks fxjoh j[kh gqbZ lEifr;ksa dk voeqY;u vf/kd gks tkrk gSA
5- tks ykHknk;d dEiuh ugha gksrh gS rks mldk cktkj esa fuLiknu mfpr eqY; ij ugha gksrk gSA
6- blesa lEifr;ksa ds iqufuZek.k ds izko/kkuksa dh deh gSA
bu deh;ksa dks ns[krs gq, vkbZchlh dk izko/kku fd;k x;kA
Insolvency and Bankruptcy Code – 2016
• ;fn fdlh dEiuh ;k O;fDr ds }kjk _.k dk Hkwxrku le; ij ugha fd;k tkrk gS rFkk _.k ,uih, ?kksf"kr gks tkrk gS A rks
_.k nkrk bl dksM ds rgr dk;Zokgh dj ldrk gS A
• blesa dk;Zokgh dh 'kq:okr
o _.kizkIrdrkZ & O;fDr & MhvkjVh
o _.kizkIrdrkZ & dEiuh & ,ulh,yVh

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• blesa fuEu esa ls dksbZ Hkh vihy dj ldrk gS &

o _.knkrk
o _.kxzkgh
o dEiuh ds deZpkjh
o dEiuh ds 'ks;j /kkjd
• ns’k esa ,ulh,yVh dh 10 czkap gS
o Mh-vkj-Vh - 39
• ,ulh,yVh & 14 fnu ds Hkhrj vkosnu dks ;k rks Lohdkj djsxk ;k rks vLohdkj djsxk A
o ;fn ,ulh,yVh Lohdkj dj ysrk gS rks 180 fnu dk eksjksfVf;e ihfj;M gksrk gS
o ;fn fo’ks"k fLFkfr rks bl vof/k dks c<+kdj 270 fnu fd;k tk ldrk gS A
• desVh vkWQ ØsfMVlZ ¼lk[k nkrkvksa dh lfefr½ cukbZ tkrh gS
o buds }kjk bUlksyosUlh izkQs’uyl dks fu;qDr fd;k tkrk gSA vkSj bUlksyosUlh izksQs’kuYl lek/kku ;kstuk izLrqr djrh gSA
o ;g izktsDV dks iqjk djus ds fy, fuEu izdkj ds lq>ko nsrs gSA tSls dh C;kt nj dks de djuk
▪ _.k vof/k dks c<+k fn;k tkuk
▪ u, Hkkxhnkjksa dks ryk’kk tk;s
▪ lek/kku ;kstuk desVh vkWQ ØsfMVlZ ds lkeus is’k fd;k tkrk gS ;fn Iyku Lohdkj dj ysrh gS rks mls ykxw fd;k
tkrk gS vkSj ;fn lfefr bl Iyku dks Lohdkj ugha djrh gS rks ;gh vkbZih dEiuh dh ifjlEifr;ksa dk fuLiknu djrs
gSA
o vkbZih dksM ;s fuEu ij ykxw ugha gksrk gS&
▪ foyQqy fMQkWYVjl ij & tkucw> dj _.k ugha pqdkrk gS
▪ bUdsiscy fMQkWYVlZ & tks _.k pqdkus esa vl{ke gS A
▪ bu ij ljQkbZlh ,DV ds rgr dk;Zokgh dh tkrh gS A
▪ d`f"k _.k ij ljQkbZlh ,DV ykxw ugha gksrk gS A
Insolvency or Banking Board of India (IBBI)
• IBC dksM 2016 ,DV ds rgr bl laLFkk dh LFkkiuk dh xbZ gS &

• ;g ,d oS/kkfud laLFkk gS A
• blesa ,d v/;{k gksrk gS A
• ,d vkjchvkbZ ds }kjk euksfur lnL; gksrk gS A
• vkB lnL; Hkkjr ljdkj ds }kjk euksfur fd, tkrs gS A v/;{k lfgr dqy 10 lnL; gksrs gS A
• blds eq[; dk;Z & bUlksyosUlh izksQs’kuYl ,tsUlh dh LFkkiuk djuk A
IP AGENCY WORK ?
• bUlksyosUlh izksQs’kuYl dk iathdj.k djuk rFkk mudk i;Zos{k.k djukA

• vkSj bUlksyosUlh izksQs’kuYl cuus ds ekud fu/kkZfjr djukA
• orZeku esa rhu vkbZ-ih ,tsUlh gS
• vkbZlh,vkbZ] vkbZlh,lvkbZ]
• blds vfrfjDr bldk nqljk dk;Z bUQkWesZ’ku ;qfVfyfV dh LFkkiuk djukA
• blesa _.k izkIrdrkZ dk MkVk rS;kj djuk
• vknru fMQkYVjlZ dh igpku djuk ¼fu;fer½

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Re-Capitalization:
lkoZtfud {ks= ds cSadksa dk NPA T;knk gS] blfy, BASEL ekudksa ds vk/kkj ij lkoZtfud {ks= ds cSadksa dk CAR-
12% fu/kkZfjr fd;k x;k gSA vr% bls iwjk djus ds fy, ljdkj bu cSadksa dks iw¡th iznku djrh gSA
* blds rgr ljdkj us 2017-18 esa 90,000 crore rFkk 2018-19, 1.06 Lac crore, 2019-20 esa 70,000 djksM+ #- 2021-
22 esa 20,000 djksM+ dh ?kks"k.kk dh x;h gSA
Reform ¼lq/kkj½
lq/kkj ds fy, ljdkj us 2015 esa MISSION bUnz/kuq"k vkjEHk fd;k FkkA
foÙkh; lekos'ku%&
lekt ds lHkh yksxksa dks foÙkh; cktkj ls tksM+ukA vFkkZr~ lekt ds xjhc vf'kf{kr o oafpr yksxksa dks foÙkh; lsok;sa
miyC/k djokukA
❖ foÙkh; lekos'ku ds fy;s fuEu ckrksa dk gksuk vko';d gS&
❖ Financial intranstructure ¼foÙkh; cqfu;knh <kapk½ vFkkZr~ lHkh LFkkuksa ij cSadksa dh 'kk[kkvksa dk miyC/k gksukA
❖ yksxksa esa foÙkh; tkx:drkA rkfd os yksx cSad esa [kkrs [kqyok;sA
❖ viuh NksVh cprksa dks tek djok ldsAa
❖ lk[k dh miyC/krk vFkkZr~ xjhcksa o oafprksa dks _.k miyC/k djokukA
❖ mUgsa is'a ku o chek dh lqfo/kk miyC/k djokukA
foÙkh; lekos'ku ds fy, fd;s x;s mik;%

❖ izkFkfed _.k {ks= dk izko/kkuA
❖ 1969 o 1980 esa cSadksa dk jk"Vªh;dj.k djukA
❖ 1969 esa Lead Bank ;kstuk 'kq: dh x;hA
❖ 1975 esa {ks=h; xzkeh.k cSadksa dh LFkkiuk dh x;hA
❖ orZeku esa cSadksa ds fy, vfuok;Z gSa fd u;h cSadksa esa 25% 'kk[kk;sa xk¡oksa esa gksuh pkfg,A
Banking laoknnkrk@izfrfuf/k dh vuqefr nh x;h gSaA
➢ Micro ATM dh LFkkiuk dh x;hA
➢ White leble ATM ,slh ATM e'khu ftl ij fdlh bank dk uke ugha gksxkA lHkh cSadksa ds xzkgd mlls iSls
fudky ldrs gSaA
Brown Lable ATM:- ATM e'khu dks esaVu s djus dk dke fdlh vU; dEiuh ds ikl gksxkA
Pink lable ATM: dsoy efgykvksa ds fy;sA
Green ATM: fdlkuksa ds fy,
➢ Post office dks cSafdax xfrfof/k ds fy, vuqefr nh x;haA
➢ fdlku ØsfMV dkMZ%&
➢ fdlku xksYM dkMZ%&
➢ d`f"k Qly chek ;kstuk%&
General Credit Card:-

fdlkuksa dks provide djok;k tkrk gSA ;g Mk;jhuqek gksrk gSaA blds vk/kkj ij fdlku d`f"k vkxrksa dks othherised
,tsUlh ls [kjhn dj lddrk gSaA
➢ iz/kkuea=h tu&/ku ;kstuk&2015
➢ iz/kkuea=h eqnzk ;kstuk&2015& Mudra Bank

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ Payment Bank/Small bank dh LFkkiukA

➢ Micro finance institution dks izkRs lkgu nsukA
➢ NBFC-MFI dks PSC esa 'kkfey djukA
➢ NABARD dh LFkkiukA
➢ Co-operative Banks dh LFkkiukA
foÙkh; lekos'ku ds ykHk%&

❖ lHkh yksxksa ds cSad [kkrs gksaxsA
❖ :i;s [kkrksa esa tek gksaxsA
❖ turk ds ikl udn j[kus dh izo`fÙk de gksxhA
❖ cSadksa ds ikl /ku miyC/krk c<+rh gSaA blls cSad lk[k l`tu dj ldrs gSaA vFkkZr~ _.k ns ldrh gSaA
❖ blls fuos'k dks izkRs lkgu feyrk gSA fuos'k c<+x+s k rks mRiknu o jkstxkj ds volj c<+sxsAa
❖ ;fn yksxksa esa cSafdax Awarness gS rks Cash lesss economy dks izkRs lkfgr fd;k tk ldrk gSaA vFkkZr~ IykfLVd
euh ;k vkWuykbu Hkqxrku dks vf/kd c<++kukA ;fn Cash-less dkks izkRs lkgu feyrk gS] rks Tax oa'kuk dks de
fd;k tk ldrk gSaA
❖ udyh uksVksa dh leL;k de gks tk;sx a hA
❖ cSadksa dks CRR de j[kuk gksxkA The can lend more the loan
❖ vke vkneh cSafdax lsokvksa dk ykHk feysxkA blls mlds thou Lrj esa lq/kkj gksxkA
❖ ljdkj Mk;jsDV csfufQj@lfClMh o vU; Hkqxrku lh/ks muds [kkrksa esa dj ldrh gSaA
❖ tSls%& Subsidy, ujsxk] o`)koLFkk] isa'ku etc.
❖ yksxkas dks fuos'k ds csgrj fodYi feysaxsA rks LikWUth@QthZ ;kstukvksa ds eky esa ugha Qlsxa sA
❖ Ex.- fpVQ.M
❖ ns'k esa Finnancial market dk fodkl gksxkA rFkk ftu ns'kksa esa foÙkh; lekos'ku vPNk gS mu ns'kksa esa o`f) nj
Hkh vf/kd gSaA
National payment corporation of India:(NPCl)
RBI and Indian Bank Association us feydj LFkkfir fd;kA
❖ 2008 esa cuk FkkA 2009 esa dk;Z djuk izkjEHk fd;kA
IMPS-Immediate Payment Service Start-2010 AD
❖ Mobile Banking blh ij vk/kkfjr gSA
❖ 1-2 Lac rd dk Payment
❖ NEFT= National electronic Fund Transfer = 1 # vf/kd
❖ RTGS : Real time Gross sattlement = 2 yk[k ls vf/kd
UPI:
❖ 1 #i;s ls 1 yk[k rd dk Payment
❖ Online Hkqxrku
❖ NEFT o RTGS = RBI lqfo/kk izko s kbM
❖ UPI o IMPS = NPCl lqfo/kk izko s kbMA
❖ ;g pkjksa rjQ dh fund transfer lqfo/kk 24 × 7 hour miyC/k gSaA
❖ mn~ns';& Online payment dks lqfo/kktud cukukA
CTC – Cheque trancation system

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
❖ NPCL lqfo/kk izko s kbM

❖ First time-2008
BHIM APP
❖ Bharat interface for money ¼Hkkjr baVjQsl QkWj ea=h½ 'kq:& 2016 A.D.
Rupay-2012 AD
❖ Indian Card scheme dk Hkkx gSA
UPI-unified payment interface ¼;wfuQkbM isesaV baVjQsl½
❖ nks [kkrksa ds chp rqjUr QaM Vªkl
a Qj djukA
❖ vf/kdre 1 yk[k :I;s Vªkl a Qj gksrs gSaA
❖ Real time transfer
NPCI us nks lfClMh dEiuh LFkkfir dh gSaA
1. NPCI-Interation Payment limited
➢ Rupay card, vUrjkZ"Vªh;
➢ UPI
2. NPCI- BHARAT Bill Pay limited (NBBL) (2021 eas iathdj.k)
foÙk cktkj
eqnzk cktkj%& iwt

a h cktkj
➢ vYidkfyd ysu&nsuA ¼1 o"kZ rd½ nh?kZdkfyd ysu&nsu gksrs gSaA

mnk- euh ekdsZV ds midj.k Ex:- Share, Debenturre, G-sec, etc.
1. Commercial paper (C.P.)
➢ fdlh dEiuh ds }kjk tkjh fd x;h vYidkfyd izfrHkwfrA izk;% u;h dEiuh ds }kjk vius vkjfEHkd [kpksZa dks
iwjk djus ds fy, tkjh dh tkrh gSaA bls Bridge loan dgrs gSaA
2. Certificate on Deposit (C.D.):- cSad dkWiksZjV
s ls tekkvksa ds cnys iSls ysus ds fy;s CD tkjh djrk gSaA
3. Call money market: cSadksa ds ek/; vYidkfyd ysu&nsuA
4. Tresuury Bill: dsUnz ljdkj ds }kjk tkjh fd x;h vYidkfyd izfrHkwfr;ka ftUgsa& T-Bill dgrs gSaA ;s rhu iizdkj
ds gksrs gSaA
5. Commerccial Bill:- fdlh dEiuh ds }kjk oLrqvksa fd [kjhn ds cnys tkjh fd tkus okyh vYidkfyd izfrHkwfr;kaA
➢ CP, CD, T-Bill o C-Bill Transfferable gLrkUrj.kh; gksrs gSaA
(IBPC) : Inter bannk Partipatory certificate:-

➢ ;s eqnzk cktkj dk ,d vfrfjDr midj.k gSaA ftlds rgr cSadksa ds chp vYidkfyd ysu&nsu gksrk gSA ;fn fdlh cSad
dks /ku dh vko';drk gSa] rks og vius _.k ifjlaifÙk dkks cspdj vU; cSad ls /ku izkIr dj ldrh gSaA rFkk 3 ;k 4
ekg ckn vius _.k ifjlaifÙk dks okil [kjhn ldrh gSaA
➢ bldks izkFkfed {ks= ds _.k ds y{; dks izkIr djus ds fy;s Hkh budk iz;ksx fd;k tk ldrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
iwt
a h cktkj (Capital Market)
➢ lhfer dEiuh%&og dEiuh ftuesa 'ks;j /kkjd dh ns;rk lhfer gksrh gSaA vFkkZr~ _.k nkrk ds vf/kdkj lhfer gksrs
gSaA _.knkrk dsoy dEiuh ds uke ls lEifÙk gS mlh ls _.k olwy ldrk gSA
➢ 'ks;j&/kkjdksa dh O;fDrxr laifÙk ls _.k olwyh ugha dh tk ldrh gSaA ,slh dEiuh dks fyfeVsM dEiuh dgrs gSaA
➢ lhfer dEiuh rhu izdkj fd gksrh gSa&
1. One-person company (OPC):- og dEiuh ftlesa dsoy ,d vkWuj@Lokeh gksrk gSA
➢ dEiuh ,DV 2013 ls bl dEiuh dks ekU;rk nh x;hA
2. Private limited company: og dEiuh ftlesa 'ks;j/kkjdksa dh U;wuÙke la[;k 2 o vf/kd la[;k 200 gks ldrh gSA
3. Public limited company:- 'ks;j /kkjdksa fd fefuee la[;k 7 rFkk vf/kdre dksbZ fu/kkZfjr ugha gSaA
➢ blds 'ks;j&'ks;j cktkj esa [kjhns csps tk ldrs gSaA
Stock Access
1. Authorised Capital:- ftrus ds 'ks;j tkjh djus dh vuqefr nh tkrh gSaS ¼vuqefr& 1000 crore½
2. Issued Capital:- dEiuh ds }kjk tkjh fd;s x;s 'ks;jA (800 crore)
3. Subscribed Capital:- ftrus ds fy, turk vkosnu djrh gSaA
4. Paid-up-Capital:- vkosndksa ds 'ks;j [kjhnus ds ckn dEiuh dh iwt
a h
*Security*
Debt Security Share

(Bond)
Preference Equity share
share
Govt. Bond Private Bond
Short term Long term Short term Long term
 G-Sec CD
T-Bill  CD Debenture
Gilt edge CD _.ki=
➢ Share: blesa fuos'kd dEiuh esa Hkkxhnkj curk gSaA rFkk dEiuh esa gksus okys ykHk mls fn;k tkrk gsaA
➢ 'ks;j nks izdkj ds gksrs gSaA
(1) Prefrence 'ks;j (2) Equity 'ks;j
1. Prefrence share: blesa 'ks;j/kkjd dks ykHk forj.k esa izkFkfedrk nh tkrh gSaA ;fn dEiuh dks de ykHk gksrkk gS
rks Hkh bUgsa ykHk gksrk gSaA bu 'ks;j dh la[;k de gksrh gSaA rFkk ;g izeksVj ds ikl gksrh gSaA
➢ ysfdu bUgsa ernku dk laLFkkid ¼izorZd½ vf/kdkj ugha gksrk gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
2. Equity share: bu 'ks;j/kkjdksa dks ykHk forj.k esa izkFkfedrk ugha nh tkrh gSaA ;fn dEiuh dks vf/kd ykHk gksrkk
gS rks gh bUgsa ykHkka'k fn;k tkrk gSaA
➢ buds ikl erkf/kdkj gksrk gSaA blfy, ;s dEiuh ds okLrfod ekfyd (Owner) gksrs gSaA
➢ Debt Security (Bond):- blesa fuos'kd _.k nkrk gksrk gSaA rFkk vius fuos'k ij fuf'pr C;kt izkIr djrk gSaA
➢ blesa dEiuh Hkys gh ?kkVs esa gks rks Hkh C;kt dk Hkqxrku djsx
a hA
1. Tresury Bill:- vYidkfyd ljdkjh izfrHkwfr;ksa dks T-Bill dgrs gSaA

➢ ;g rhu izdkj ds gksrs gSaA
T91 T182 T364

➢ ;g dsoy dsUnz ljdkj ds }kjk tkjh fd;s tkrs gSaA
(2) Giltedge:- fo'oluh; izfrHkwfr;ksa dks fxYV,M~t dgrs gSaA blfy, mUgsa fxYV ,M~t dgrs gSaA
➢ ljdkj dh nh?kZdkfyd izfrHkwfr;ksa dks fxYV,M~t dgrs gSaA
(3) Junk Bond:-os izfrHkwfr;k¡ tkks de fo'oluh; gksrh gSaA tksf[ke ;qDr gksrh gSA ;|fi bu ij feyus okyk C;kt
vf/kd gksrk gSaA
➢ Operation Twist: nh?kZdkfyd _.kksa ij C;kt njksa dk de djus ds fy, RBI us vkWijs'kku izfrHkwfr;ksa dh
[kjhn dh gSaA rFkk blds LFkku ij vYidkfyd izfrHkwfr;ka tkjh fd x;h gSaA
➢ blls cktkj esa ljdkjh izfrHkwfr;ksa dh ekax vf/kd gks x;h] rrks bldh izkbt ¼dher½ vf/kd gks tk;sxhA rks
C;kt@izfrQy@ (yield) de gks tk;sxkA
Operation Twist
➢ futh {ks= dh vYidkfyd izfrHkwfr;k¡%&
(1) Certificat of Deposit
(2) Commercial paper
(3) Commercial Bill
HUNDI:-
➢ ;g e/;dky o fczfV'k dky esa izpfyr izfrHkwfr FkhaA vHkh dkuwuh ugha gSaA
Debenture ¼_.ki=½
❖ futh {ks= dh nh?kZdkfyd _.k izfrHkwfrA ;g fo'ks"k izdkj dk nh?kZdkfyd ckWUM gksrk gSA
❖ bldh C;kt nj] ifjiDork vof/k vkfn fQDl fuf'pr gksrk gSA
Convertible Debenture:-
❖ ;g ,d fo'ks"k izdkj dk _.ki= gSa] ftlesa fuos'kd dks ;g fodYi fn;k tkrk gSa fd ,d fuf'pr le; ds ckn
og vius _.ki= dks 'ks;j esa cny ldrk gSaA
❖ /kh:HkkbZ vackuh us bls yksdfiz; cuk;k FkkA
I.P.O. (Initiial public offer)
❖ tc dksbZ u;h dEiuh igyh ckj 'ks;j tkjh djrh gSa] rks mls IPO dgrs gSaA
F.P.O. (Follow on public offer)
❖ IPO tkjh djus ds dqN le; ckn dEiuh tks u;s 'ks;j tkjh djrh gSa mls FPO dgrs gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Right Issue:
❖ dksbZ Public limited dEiuh ¼iqjkuh dEiuh tc ,fM'kuy u;s 'ks;j tkjh djrs gSa rks bUgsa Right issue dgrs
gSA½
❖ ;g igys okys 'ks;j /kkjdksa dks gh 'ks;j tkjh fd;s tkrs gSaA
Underwriting ¼vfHkxksiu½%&
❖ tc Hkh dksbZ dEiuh IPO tkjh djrh gSa] rks og vU; fdlh foÙkh; laLFkku ls vius IPO dk vfHkxksiu djokrh
gSaA ftlds rgr og foÙkh; laLFkku fuos'kdksa dks ;g vk'oklu nsrh gSa fd dEiuh dh ifj;kstuk vPNh gS rFkk
mlds lHkh 'ks;j fcdsx a s vkSj ;fn lHkh 'ks;j ugha fcdrs gSa] rks og laLFkk Lo;a oks 'ks;j [kjhnsaxhA
Book buiding:-
❖ tc dksbZ dEiuh IPO tkjh djrh gS] rks ml IPO dh dher fu/kkZfjr djus ds fy, cktkj esa losZ djok;k tkrk
gSa] ftls Book building dgrs gSaA
❖ ftlds rgr IPO dh dher Price band miyC/k djok;h tkrh gSA

¼vf/kdÙke@U;wuÙke½
❖ vfHkxksiu ;g dk;Z djok;sxkA
izkFkfed 'ks;j cktkj (Primary Stock Exchange):-

❖ og 'ks;j cktkj ftlesa IPO, FPO, Right Issue rFkk u;s Debenture [kjhns&csps tkrs gSaA mls izkFkfed 'ks;j
cktkj dgrs gSaA vFkkZr~ og 'ks;j cktkj ftlesa u;ha izfrHkwfr;k¡ tkjh fd tkrh gSaA
❖ bldk dksbZ fuf'pr uke o LFkku ugha gksrkA
Secondary stock exchange:--
❖ og 'ks;j cktkj tgka izkFkfed 'ks;j cktkj esa tkjh fd x;ha izfrHkwfr;ksa dks iqu% [kjhnk&cspk tkkrk gSaA
❖ Hkkjr esa f}rh;d 'ks;j cktkj vusd gSaA ftlesa izeq[k 'ks;j cktkj nks gSaA
(1) Bombay stock Exchange (BSE)
(2)….
Bombay Stock Exchange (BSE)

❖ LFkkiuk%& 1875 bZ-
❖ ,f'k;k dk lcls iqjkuk LvkWd ,Dlst a gSaA
❖ Hkkjr dk nwljk dk lcls cM+k LVkWd ,Dlst a ¼VuZ vksoj dh n`f"V ¼dkjksckj½ gSaA
❖ M-Cap dh n`f"V ls Hkkjr dk nwljk lcls cM+k LVkWd ,Dlst a gSaA
❖ lkSnksa dh la[;k fd n`f"V ls lcls cM++k LVkWd ,Dlst
a gSaA
❖ O;fDrxr fuos'kd izk;% BSE esa fuos'k vf/kd djrs gSaA
❖ M-Cap dh n`f"V ls nqfu;ka dk 9ok¡ LVkWd ,Dlst a gSaA
❖ 2005 esa bls dEiuh cuk;k x;kA
❖ bldk izeq[k lwpdkad BSE SENSEX gSaA
SENSEX-SENSITIVE INDEX
❖ lokZf/kd m-cap okyh 30 dEifu;ksa ds 'ks;jksa fd dher esa vkus okys vkSlr mrkj&p<+ko dks n'kkZrh gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
M-Cap (Market-Capitalisation)
M-Cap = NXP
N = Total number of shares
P = Market Price of per share
SENSEX dh 'kq:vkr& 1986
vk/kkj o"kZ& 1978-79
❖ Hkkjr esa lcls vf/kd m—Cap- (1) Relaice Indus (2) Tata conslteney (3) HDFC (4) Infosis
❖ nqfu;k esa lokZf/kd m-Cap- (1) Apple (2) Micro soft (3) Saudi Aram co. (4)
Blue Chip Company:
oks dEifu;ka ftudk M-cap vf/kd gksrk gSaA rFkk Share bazar esa ftuds 'ks;j dh ekax vf/kd gksrh gSaA vFkkZr~
izfrf"Br dEifu;ksa dks Bluechip dEifu;ka dgrs gSaA
BSE Other lwpdkad (1) BSE 100 (2) BSE 200 (3)
❖ SENSEX dks Dollex Hkh dgrs gSaA
❖ tc 30 dEifu;ksa ds 'ks;j dh Price tc dollar esa x.kuk dh tkrh gS rks bls Dollex dgrs gSa
❖ Sensex: 12 cSadksa ds vkSlr 'ks;j dh fLFkfr dks n'kkZrk gSaA
National Stock Exchange:

❖ LFkkiuk%&1922 bZ-
❖ eq[;ky;% eqEcbZ
❖ dkjksckj dh n`f"V ls Hkkjr dk lcls cM+k LVkWd ,Dlst
a gSaA
❖ ;g LFkkiuk ds le; ls gh iw.kZr% dEI;qVjkbt gSa
❖ ;g laLFkkxr fuos'kdksa esa vf/kd yksdfiz; gSaA
❖ blesa 50 dEifu;ksa ds 'ks;j fy, tkrs gSA
❖ nwljk eq[; lwpdkad & NIFTY Next 50
❖ fu¶Vh ds ckn 50 dEifu;ksa ds ckn vxyh 50 lokZf/kd M-Cap dEifu;kaA bldks twfu;j fu¶Vh Hkh dgk tkrk
gSaA
❖ NIFTY 500 : blesa 500 dEifu;ksa ds 'ks;j fy, tkrs gSaA
❖ igys vusd {ks=h; LVkWd ,Dlsta FksA
❖ tSls%&dydÙkk] t;iqj] fnYyh etc. LVkWd ,Dlst a A
❖ ysfdu vkWuykbu VªsfMax dk izpyu c<+u+ s ds ckn ;s {ks=h; LVkWd ,Dlst
a cUn gks jgs gSaA
U;w;kWdZ LVkWd ,Dlsat%&esa Hkkjr fd fyLVsV ICICI gSaA
❖ nqfu;k dk lcls cM++k LVkWd ,Dlst
a gSaA
❖ eq[; lwpdkad – Dow Jones
❖ NSE ds 20% Share U;w;kWdZ LVkWd ,Dlst a ds ikl gSA
❖ NASDAQ:-National Association of secrutiy Dealers Automated Quotation
❖ U;w;kWdZ esa fLFkr gSA
❖ Hkkjr dh igyh fyLVsM dEiuh Intosis gSaA
❖ fuos'kd%& fuos'kd nks izdkj ds gksrs gSaA
¼1½ okLrfod fuos'kd%& os funs'kd tks nh?kZdky ds fy;s 'ks;j cktkj esa fuos'k djrs gSaA ;g ykHkka'k dh izkfIr ds
fy,A

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
¼2½ lV~Vsckt fuos'kd%& os fuos'kd tks vYidkky ds fy;s 'ks;j cktkj esa fuos'k djrs gSaA tks 'ks;j dh dherksa esa vkus
okys mrkj&p<+ko ls ykHk dekus ds fy;s fuos'k djrs gSaA
➢ lV~Vsckt nks rjg ds gksrs gSa&
(A) dqy (Bill) rstfM+;sa%&
➢ os fuos'kd tks 'ks;j cktkj esa rsth ykrs gSaA
(B) eanfM;s (Bear):- os fuos'kd tks cktkj esa mrkj ykrs gSaA
(C) Stag: os funs'kd tks tYnh&tYnh 'ks;jksa dks csprs jgrs gSaA
➢ ;s lkekU;r% IPO esa fuos'k djrs gSaA
Trading ¼dkjksckj½
1. Spot Trading: ;fn 'ks;j fd [kjhn o fcØh dk lkSnk o mldk fØ;kUo;u ,d gh le; ij gksrk gSaA rks bls
Spot trading dgrs gSA
➢ blesa T + 2 dk fu;e dke djrk gSaA vFkkZr~ nks fnu esa le>kSrs dk fØ;kUo;u vko';d gSA
2. Forward Trading:- ;fn le>kSrs dk fØ;kUo;u Hkfo"; esa fd;k tkrk gSaA rks bls QkWjoMZ VªsfMax dgrs gSaA
➢ ;s le>kSrs LVkWd ,Dlst a ds ckgj fd, tkrs gSA
➢ blds fuf'pr ekud ugha gksrs gSaA rFkk bldk fØ;kUo;u fuf'pr le; esa gksrk gSA
3. Future trading ¼ok;nk dkjksckj½%&;fn le>kSrs dk fØ;kUo;u Hkfo"; esa fd;k tkrk gSaA
➢ ;s le>kSrs 'ks;j cktkj ds ek/;e ls fd;s tkrs gSaA
➢ budk ekud vkdkj gksrk gSaA
➢ bu le>kSrksa dk fØ;kUo;u fu/kkZfjr frfFk ls igys Hkh fd;k tkrk gSA
➢ ykHk gkfu dh x.kuk izfrfnu gksrh gSaA
➢ ykHk&gkfu dh x.kuk izfrfnu gksrh gSA
(F2O) future and optional
➢ blesa fuos'kd dks lkSns ds fy;s lkadsfrd euh nsuh gksrh gSaA rFkk fuos'kd ds ikl ;g fodYi gksrk gSaA fd oks lkSns
dks jn~n Hkh dj ldrk gSaA ysfdu tks lkadsfrd iSlk fn;k Fkk oks okil ugha fn;k tkrk gSA
Short Selling:-
• ;fn O;fDr ds ikl 'ks;j ugha gS] ysfdu og 'ks;j cspus dk le>kSrk igys djrk gSa rFkk dkykUrj esa de jsV
ij 'ks;j [kjhndj csp nsrs gSa mls Short selling dgrs gSaA
• 'ks;j [kjhndj mldh vkiwfrZ djrk gSaA
Arbitrage:- ,d 'ks;j cktkj ls 'ks;j [kjhnuk rFkk mls nwljs 'ks;j cktkj esa cspuk] bls Arbitrage dgrs gSaA
➢ vyx&vyx 'ks;j cktkj esa ,d gh 'ks;j fd dher vyx&vyx gks ldrh gSaA dherksa ds bl vUrj ls ykHk
dekus ds fy;s Arbitrage fd;k tkrk gSA
➢ Mutual Fund:- LFkkiuk& 1964 esa UTI (Unit trust of India) dh LFkkiuk dh FkhaA ;g nsèk dk igyk MF FkkA
➢ lkoZtfud {ks= dh bdkbZ FkhA
➢ futh {ks= dks vuqefr ugha nh FkhA
➢ E;qpqvy Q.M lkekU; turk o 'ks;j cktkj ds e/; e/;LFk dk Hkwfedk djrs gSaA ;g turk fd NksVh cprksa dks
laxzfgr djrk gSaA rFkk bls 'ks;j cktkj esa fuos'k djrk gSaA ogka ls ykHk dekrk gSa] rFkk bls fuos'kdksa esa forfjr
djrk gSaA blds cnys esa E;qlqvy Q.M pktZ ysrk gSA
➢ U.S. 64 Scem ykap dh FkhaA blesa ykHk fd xkj.Vh nh FkhaA 'ks;j cktkj esa VTI dk ,dkf/kdkj FkkA
➢ blesa ?kkVk Hkh gks ldrk gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ cprksa dks laxzfgr djus ds fy, MF unit tkjh djrk gSA

➢ E;qlqvy Q.M fo'ks"kKksa ls ijke'kZ djds fuos'k djrk gSaA
➢ 1986 eas SBI E;wlqy fund dh LFkkiuk fd x;haA 1991 bZ- ds vkfFkZd lq/kkjksa ls futh {ks= ds Mutual fund
LFkkfir djus fd vuqefr iznku dhA
➢ 2001 esa UTI Scam mtkxj gqvk FkkA
Venture Capital Fund: Alternative Investment fund:- ;g vYVjusfVo QaM fd Js.kh esa vkrk gSA
➢ ;g izk;% fuos'k tksf[ke okys {ks= esa djrk gSaA
➢ ;g izk;% u;h dEiuh o LVkVZvi ij fuos'k djrs gSaA
➢ ;g izk;% fuos'k tksf[ke okys {ks= esa djrs gSaA
➢ ;g izk;% u;h dEifu;ksa o LVkVZvi esa fuos'k djrs gS rFkk mlesa Hkkxhnkjh gksrs gSaA
➢ ;|fi buds ikl fo'ks"kKksa dh ,d iwjh Vhe gksrh gSaA izR;sd {ks= ds fo'ks"kK gksrs gSaA
➢ dEiuh fd lQyrk ds izfr vk'oLr gksus ds ckn gh fuos'k djrs gSaA
Ex:
Hudge Fund:
➢ ;g O;fDrxr izdkj Q.M gksrs gSaA D;ksfa d fuos'kdksa fd la[;k de gksrh gSaA blesa izk;% cM+s fuos'kd fuos'k djrs
gSaA blesa fuos'k ds fy;s de ls de ,d djksM+ #i;s gksus pkfg,A
➢ fons'kh fuos'kd dks 5 yk[k dollar gksus pkfg,A
➢ ;s vR;f/kd tksf[ke okys {ks= esa fuos'k djrs gSaA
➢ buds dkj.k 'ks;j cktkj esa vR;f/kd mrkj&p<+ko vkrs gSaA
➢ fofu;ked laLFkk,a izk;% bUgsa fu;eksa esa <hy nsrh gSA
➢ tSls%& Mutual fund dks Short selling o Arbitrange dh vuqefr ugha gksrh gSA tcfd Hadge fund dks
vuqefr nsrh gSA
➢ Hadge fund dks tax haven ¼dj LoxZ½ Hkh dgrs gSaA
➢ Tax Haven: os ns'k tgka ij djksa dh njsa de gksrh gSaA ;k djksa esa fofHkUu izdkj fd NqV iznku djrh gSaA mUgsa
Tax-Heven Country Hkh dgrs gSA
➢ ;g 2008&09 dh vkfFkZd eanjh ds le; ppkZ esa vk;s FksA rFkk bu ij jksd yxkus fd ekax mBh FkhaA
➢ D;ksfa d ;g cktkj esa vfLFkjrk dks tUe nsrs gSaA
➢ Angel Investor: fdlh O;fDr fd izfrHkk (Telent) ns[kdj mlds izkt
s sDV esa fuos'k djuk Angel Investor
dgrs gSaA
➢ og O;fDr ftlds ikl foÙk cktkj ls foÙkh; lgk;rk ysus ds ekudksa dks iwjk ugha djrk gSaA mlesa fuos'k djus
okys O;fDr dkks ,saty bUosLVj dgrs gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Ex:- Micke markula ¼ekbd edZqyk½ us LVho tkWc fd izfrHkk dks ns[kdj fd;k FkkA
P-Note: Participatory Note:-
➢ fons'kh laLFkkxr fuos'kdksa ds }kjk (FIII) Hkkjrh; 'ks;j cktkj esa [kjhns x;s fdlh 'ks;j ds fo#)@ ds cnys esa
fdlh vU; ns'k esa P-Note tkjh fd;k tk ldrk gSA ;k P-Note 'ks;j ls tqM+k jgrk gSA
➢ fons'kh O;fDr bl uksV dks [kjhn ldrs gSaA
➢ P-Note (transferble) gLrkUrj.kh; gksrk gSA
➢ P-Note ds dkj.k izk;% dkys /ku dk fuos'k gksrk@iz;ksx fd;k tkrk gSA blls vftZr ykHk ls Vsjj QafMx dh
lwpuk,sa Hkkjrh; ehfM;k esa vkus yxhA
➢ bldh otg ls ljdkj dks dj dk uqdlku gksrk gSaA D;ksafd ljdkj flD;qfjVh xse VSDl o
➢ P-Note ij gekjh SEBI dk fu;a=.k ugha gks ldrkA blfy;s P-Note dh vkykspuk dh tkrh gSaA
➢ SEBI, P-Note ij vusd jsfLVªDlu ¼izfrca/k½ yxk;s tk jgs gSA
Demat : (Dematerialisation)
➢ igys izfrHkwfr;ka Share/bond HkkSfrd :i esa FkhA vFkkZr~ dkxth :i esa FksA ftUgsa lc bysDVªkfud MkVk fd
form nh x;h gSa bls gh Demate dgrs gSaA
➢ vc orZeku esa ;fn fdlh O;fDr dks 'ks;j ;k _.ki= [kjhnus gSa rks mls Demate Acc. [kksyuk gksxkA
➢ Demate Acc. dk lapkyu fMikWftVjh laLFkkvksa }kjk Dipository Institutes }kjk fd;k tkrk gSaA
➢ orZeku esa nks Depositary Institutes gSaA
(1) NSDL-National Securitary Depository limited LFkkiuk& 1996 AD. esaAs
LFkkiuk&1996 A.D. esa
laLFkkid& NSE
(2) CDSC-Central Depossitory serviices limited
LFkkiuk& 1998 A.D. esa
laLFkkid%& BSE
➢ Demate Account [kqyokus ds fy;s fdlh foÙkh; laLFkk ¼cSad½ ds ikl vkosnu djuk gksrk gSaA vr% ml cSad esa
Treading Account Hkh gksuk pkfg,A
➢ Demate Account ,oa Trading Account ,d&nwljs ls tqM+s jgrs gSaA
➢ SEBI Security and exchange board of India.
LFkkiuk%&1988 bZ-
➢ 1992 AD . esa lsch SEBI Account ikfjr fd;k x;kA
➢ ;g ,d oS/kkfud laLFkk gSaA
➢ ;g ,d v)Z&U;kf;d laLFkk Hkh gSaA (Qubi-Jucial body)
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ bldks dqN U;kf;d 'kfDr;ka Hkh nh x;h gSA

➢ SEBI 'ks;j cktkjksa ds fy, ,d fofu;ked laLFkk gSaA
➢ 1988 AD. ls igys 'ks;j ckktkjksa dk fofu;eu foÙk ea=ky; }kjk fd;k tkrk FkkA
Functional of SEBI
1. Hkkjr esa 'ks;j cktkj dk LoPNFk fodkl djukA
2. fuos'kdksa ds fgrksa fd j{kk djukA
3. ;g 'ks;j cktkjksa fd LFkkiuk djokrk gSaA mu ij fuxjkuh j[krk gSaA
4. le;≤ ij mudh tkap djrk gSaSA
5. 'ks;j cktkj ds fy;s fu;e cukrk gSaA rFkk mu fu;eksa dks ykxw djokrk gSaA tks fu;eksa dk ikyu ugha djrk gSa
muds fo#) dk;Zokgh djrk gSaA
6. ;g fuEu dks ykblsal nsrk gSaA
➢ Brokers
➢ Sub-brokers
➢ Mutual Fund
➢ Venture Capital fund
➢ Hadge fund etc. vkfn dks ykblsl
a nsrk gSaA
➢ le;≤ ij buds [kkrksa fd tkap djjrrk gSa] rFkk vads{k.k ijh{k.k (Audit) djrk gSaA
➢ buds fy;s Hkh fu;e fofu;e cukrk gSaA
7. Depository laLFkkvksa dks Hkh fofu;fer djrk gSaA
8. 'ks;j cktkj esa gksus okys ?kksVkyksa dks jksdrk gSaA
9. ;g dEifu;ksa ds foy; o vf/kxzg.k ij fuxjkuh j[krk gSaA
10. lsch bulkbMj VªsfMax dks jksdrk gSA
SEBI Insider Treding
➢ fdlh dEiuh dh vkUrfjd o xksiuh; lwpukvksa dks izkIr djuk rFkk 'ks;j cktkj esa mudk mi;ksx djds ykHk dekukA
➢ SEBI us Insider Treding dks xSj&dkuwuh ?kksf"kr dj j[kk gSaA
➢ SEBI fuos'kdksa dks lwpuk,sa miyC/k djokrk gSaA
➢ SEBI fuos'k dh lwpuk nsrh gS lykg ughaA
➢ 'ks;j cktkj esa dke djus okys yksxksa ds Vsªfuax izksxzke Hkh j[kokrh gSaA (Broker, Sub Broker, Jobber etc.)
➢ SEBI, Rating Agency dks ekU;rk nsrh gSaA
Ex. ICRA, SRTIL, CARE
rFkk Rating Agency dh Activity dk Hkh fofu;e djrh gSaA
Rating Agency : ;g ,d Lora= laLFkk gSA tksfd fofHkUu dEiuh;ksa fd vkfFkZd fLFkfr dk fo'ys"k.k djrh gS rFkk mldh _.k pqdku
fd {kerk ds vk/kkj ij dEiuh dks Rating iznku djrh gSaA
➢ eq[; Rating Agencye fuEu gSa%&

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
o CRISIL : Credit Rating Information services of India Limited.

▪ LFkkiuk % 1987 bZ-
▪ blds vf/kdÙke 'ks;j@LokfeRo S&P ds ikl gSA
o ICRA :- Investment Information and Credit Rating Agency
▪ LFkkiuk %& 1991 bZ-
▪ blds 'ks;j moody's ds ikl gSaA
o CARE : Credit Analysis & Research.
▪ LFkkiuk % 1993 bZ-
▪ fdlh Hkh dEiuh dks Debenture tkjh djus ds fy;s dEiuh dks Rating Agency ls Rating
ysuk vko';d gSaA
Commodity Exchange
1. Commodity dk vFkZ gS oLrq,a tSls & d`f"k (comm.) & Qlys] xsg]wa pkoy] Xokj ljlksa etc.
2. Metal /kkfRod comm. :- lksuk] pkanh] ykSgk etc.
3. Fulel comm. :- Cruid oil, xSl] etc.
➢ 1960 esa Hkkjr esa commodity exchange ij jksd yxk nhaA
➢ 1999 bZ- esa Commodity exchange dks fQj ls vuqefr nh x;hA
Hkkjr ds eq[; Commodity exchange fuEu gS&
1. NMCE : National multi commodity exchange

o LFkkiuk % 2002 bZ- esa vgenkckn esAa
o Hkkjr dk igyk Commodity exchange gSA
2. MCX : Multi commodity exchange.
o LFkkiuk % 2003 bZ- esa eqEcbZ esAa
o ns'k dk lcls cM+k Commodity exchange gSaA
3. NCDEX: National Commodity and Dervetive exchange.
o LFkkiuk % 2003 bZ- esa eqEcbZ esAa
o ns'k dk nwljk lcls cM+k Stock exchange gSaA
4. ICEX : Indian commodity exchange
o LFkkiuk % 2009 bZ- esa ¼xq:xzke½ esa
5. MCX-SX : Multi commodity exchange and stock exchange
o LFkkiuk % 2013 bZ- ¼eqEcbZ½
o ;g ns'k dk igyk ,Dlst a gS tgka ij Commodity ds lkFk&lkFk stock dh Treding Hkh exchange fd;k tkrk
gSA
o Commodity exchange esa future treding gksrh gSA
Benefits of Commodity exchange
1. vfrfjDr ekax l`ftr gksrh gSaA ftlls oLrqvksa fd dhers vf/kd jgrh gSaA ftlls fdlkuksa dks mudh Qlyksa dk i;kZIr
ewY; fey tkrk gSA
2. cM+s O;kikfj;ksa dh ekWuksikWyh de@[kRe gks tkrh gSaA
3. vukt ds Hk.Mkj.k esa lgk;d gSaA tks fd vdky tSlh fLFkfr;ksa esa ennxkj gksrk gSaA
4. eqnzkLQhfr dks fu;af=r djus ds fy;s bls Vwy ds :Ik esa mi;ksx esa fy;k tk ldrk gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
uqdlku %
1. ;g eqnzkLQhfr dks c<+krk gSaA

2. lV~Vcs kth dks izksRlkgu feyrk gSaA
Forward market commission (FMC) :
➢ LFkkiuk % 1953 bZ-

➢ ;g commodity exchange dh fofu;ked laLFkk FkkA
➢ lu~ 2015 esa bldk foy; SEBI esa dj fn;k x;kA
➢ orZeku esa commodity exchange dk fofu;eu SEBI djrk gSaA
eqnzkLQhfr (Inflation)
eqnzk oLrq = Inflation
 
ewY; de ewY; vf/kd
;fn oLrqvksa o eqnkz vksa dh rqyuk esa oLrq dk ewY; vf/kd gSa] rks bls eqnkz LQhfr dgrs gSaA
eqnzk oLrq = Deflation
ewY; vf/kd ewY; de
fQyhi oØ % ,d lhek rd eqnzkLQhfr o csjkstxkjh esa udkjkRed lEcU/k gksrk gSaA
o D;ksfa d ;fn eqnzkLQhfr c<+rh gS] mRiknudÙkksZa@vkiwfÙkdrkZ og iqu% fuos'k djrk gSaA fuos'k ls jkstxkj ds volj l`ftr gksrs
gSaA ftlls csjkstxkjh de gksxhA
Targeting Inflation: eqnzkLQhfr dh og fLFkfr ftl ij mRiknu c<+rk gS rFkk jkstxkj ds u;s volj l`tu gksrs gSaA bls Targting
Inflation dgrs gSaA
➢ bls Growth fleation Hkh dgrs gSaA

➢ fodkl'khy ns'kksa esa ;g 3-5% rd gksuh pkfg,A
➢ fodflr ns'kksa esa = 1-2% rd
➢ RBI us 4% Targting Inflation fu/kkZfjr dh gSa rFkk ;g ±2% gks ldrh gSaA
eagxkbZ okf"kZd :i ls ekQh tkrh gSaA vFkkZr~ 1 o"kZ iwoZ dh dher ls orZeku dher ds chp rqyuk dh tkrh gSaA
tSls %& July 2021 dh dherksa dh rqyuk July 2020 dh dherksa ls dh tk;sxhA
➢ gj ekg eqnzkLQhfr dks ekik tkrk gSA

1. Galloping Inflation :- eqnzkLQhfr dh rst xfr ls c<+rh gqbZ njA bls Runway Inflation Hkh dgrs gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
2. Hyper Inflation :- rsth ls c<+rh gq;h eqnzkLQhfr dh nj tks yxHkx vfu;af=r gks pqdh gS rFkk eqnzk iz.kkyh /koLr gks
pqdh gSaA
3. Dis Inflation :- eqnzkLQhfr dh ?kVrh gqbZ njA blesa eqnzkLQhfr dh nj de gksrh gS] ysfdu oLrqvksa ,oa lsokvksa dh nj
egaxh gks jgh gSaA
Dis Inflation :- igys dh rqyuk esa de eagxh gksxkA Dis inflation dgrs gSaA
Galloping Inflation :– tu- = 8%, Qjojh = 10%, ekpZ = 12%
Des Inflation :– vizSy = 18%, ebZ = 9%, twu = 8%, twykbZ = 5%, vxLr = 3%
Diflation ¼voLQhfr½:- eqnzkLQhfr dh udkjkRed nj dks Deflation dgrs gSaA blesa oLrq,a vkSj lsok;sa dh dhers de gksrh gSaA vFkkZr~
oLrq,a o lsok,a ljÙkh gksrh gSA eqnzk dk ewY; c<+ tkrk gSaA
oLrq eqnzk
tuojh = 8%
Deflation Qjojh = 7%
ekpZ = 6%
➢ ;fn oLrqvksa dk ewY; ?kVrk gS rks mRiknudÙkkZ ?kkVs esa jgrk gSaA ftlesa m|ksx cUn gksus yxrs gSaA csjkstxkjh c<+us yxrh
gSaA ;fn ;g de ls de nks =Sekfld rd gksrk gS] rks bls Recession ¼vkfFkZd eanh½ dgrs gSaA
➢ ;fn ;s fLFkfr;ka dbZ o"kksaZ rd jgrh gS] rks bls Depression ¼egkeanh½ dgrs gSaA
➢ ,slh Great depression 1929 bZ- esa vk;h FkhaA
Stagflation :- ;fn vFkZO;oLFkk esa eqnzkLQhfr dh fLFkfr mPp Lrj ij cuh gq;ha gSaA rFkk blds lkFk gh mRiknu de gks jgk gS] rFkk
csjkstxkjh c<+ jgh gS] ,slh fLFkfr dks mPp LQhfr dgrs gSaA
➢ ;g fLFkfr dsUnzh; cSad ds fy;s nqfo/kk dh fLFkfr mRiUu djrh gSaA

➢ ;fn eqnzkLQhfr dks fu;af=r djus ds fy, C;kt nj dks c<+krh gS] rks fuos'k ij izfrdqy izHkko iM+rk gSaA vkSj jkstxkj@mRiknu
vkSj de gksxkA
➢ ;fn dsUnzh; cSad eqnzkLQhfr dks fu;af=r djus ds fy,@mRiknu o jkstxkj dks c<+kus ;k izksRlkfgr djus ds fy;s C;kt njsa
de dj nsrh gS] rks eqnzkLQhfr vkSj c<+ tk;sxhA
Core-Inflation : eqnzkLQhfr dh nj esa ls rjyrk ds vfrfjDr vU; dkjdksa ds izHkko dks ;fn ?kVk fn;k tkrk gS] rks bls core
inflation dgrs gSaA
Core Inflation = Inflation – ckg~; dkjdksa dk izHkko
ckg~; dkjd %&
➢ d`f"k Qlyksa dk u"V gksuk]

➢ ifjogu O;oLFkk xM+cM+kuk
➢ vUrZjk"Vªh; cktkj esa ØwM vkW;y dh dhers c<+ukA
pwfa d RBI rjyrk vf/kd gksus ds dkj.k eagxkbZ dks fu;af=r dj ldrh gSaA vU; dkjdksa ds dkj.k c<+h eqnzkLQhfr dks ugha dj ldrhA
blfy, RBI Core Infaltion dh x.kuk djrh gSa tks dh rjyrk ds dkj.k vk;h egaxkbZ dks n'kkZrh gSaA blfy, RBI Core Inflation
ds vk/kkj ij viuh ekSfnzd uhfr fu/kkZfjr djrh gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Cost Push Inflation : oLrqvksa dh ykxr dher c<+us ds dkj.k c<+rh gS tks CP eqnzkLQhfr gksrh gSaA
fuEu dkj.kksa ls oLrq dh ykxr c<+rh gSaA
➢ dPpk eky dh dhersa c<+ukA

➢ etnwjh dh njs c<+ukA
➢ C;kt nj c<+ukA
➢ m|eh ykHk c<+k nsaA
Dimand Pull Inflation : ;fn oLrqvksa dh ekax vf/kd gks tk;sAa
fuEu dkj.kksa ls ekax tkrh gSaA
➢ tula[;k c<+ksrjhA
➢ lkoZtfud O;; vf/kd gksA
➢ dkyk /ku vf/kd gSA
➢ C;kt njs de gksukA
➢ fons'kh eqnzk dk vUrZizokgA
Skew Inflation ¼frjNh eqnzkLQhfr½ % ;fn oLrqvksa dh fdlh fo'ks"k lewg dh dhers c<+rh gSa] rks bls frjNh eqnzkLQhfr dgrs gSaA
tSls %& izksVhu bU¶ys'ku %& fiNys dqN le; ls izksVhu ;qDr Hkkstu ds izfr tkx:drk c<+h gSa] blfy, izksVhu mRiknksa dh ekax esa
o`f) gq;ha gSaA blfy, ;g mRikn egaxs gq;s gSaA
eqnzkLQhfr dk ekiu
WPI (Whole Sale Price Index) CPI (Consumer Price Index)
;g okf.kT; ,oa m|ksx ea=ky; ds }kjk tkjh fd;k tkrk gSA lkaf[;dh ,oa dk;ZØe fØ;kUo;u ea=ky; ds }kjk tkjh fd;k tkrk
gSA
blesa Office of Economic Adviser bls tkjh djrk gSA bldks dsUnzh; lkaf[;dh dk;kZy; }kjk tkjh djrk gSaA (SO)
;g pkj izdkj dk gksrk gSaA ;g rhu izdkj dk gksrk gSaA
1. izkFkfed oLrq,sa = blesa 117 oLrq,a yh tkrh gSaA 1. CPI xzkeh.k
2. f}rh;d oLrq,a ¼bZa/ku½ = 16 oLrq,a yh tkrh gSA 2. CPI 'kgjh
3. WPI (fofu;ked oLrq,a) = 564 oLrq,a yh tkrh gSA 3. CPI 'kgjh $ xzkeh.k
4. eq[; WPI = 697 oLrq,a
WPI iwjs Hkkjro"kZ ds fy;s ,d gh tkjh fd;k tkrk gSaA {ks=h; CPI iwjs
ns'k ds lkFk&lkFk jkT;ksa o dsUnz 'kkflr izns'kksa ds fy,
WPI ugha gksrk gSaA vyx ls tkjh fd;k tkrk gSaA
buesa dsoy oLrq,a 'kkfey dh tkrh gSaA CPI esa oLrqvksa ds lkFk&lkFk lsokvksa dks Hkh 'kkfey fd;k tkrk
gSaA
WPI esa [kk| oLrqvksa dk Hkkjka'k de gSaA ¼yxHkx 20%½ CPI esa [kk| oLrqvksa dk Hkkjka'k T;knk gksrk gSaA ¼yxHkx 60%½
vk/kkj o"kZ = 2011-12 vk/kkj o"kZ = 2011-12
vk/kkj o"kZ ifjorZu
WPI izR;sd efgus dh 14 rkjh[k dks tkjh fd;k tkrk gSA CPI izR;sd efgus dh 11 rkjh[k dh tkjh fd;k tkrk gSA
igys ;g lkIrkfgd Hkh tkjh gksrk FkkA
2014 rd WPI eq[; lwpdkad FkkA RBI viuh ekSfnzd uhfr 2014 esa CPI dks eq[; lwpd a kd cuk fn;k x;kA
blds vuqlkj fu/kkZfjr djrh FkhaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
CPI (Consumer Price Index) : Je ea=ky; ds }kjk rhu izdkj ds CPI tkjh fd;s tkrs gSaA Je C;wjks (Labour Bureau) f'keyk
esa fLFkr gSaA
CPI
'kgjh xzkeh.k
CPI = IW ¼vkS|ksfxd Jfed½ CPI ¼d`f"k etnwj½ CPI ¼xSj d`f"k

etnwj½
bldk vk/kkj o"kZ = 2016 fd;k x;k gSA
GDP Deflator :- Nominal GDP, Real GDP
Base effect : eqnzkLQhfr ds vkadM+s fiNys lky dh dherksa ls izHkkfor gksrs gSaA ;fn fiNys o"kZ dherksa esa fxjkoV vkrh gSaA rks vxys
o"kZ eqnzkLQhfr dh nj vf/kd fn[krh gSaA D;ksfa d dhersa iqjkuh fLFkfr dks iqu% izkIr djrh gSaA rFkk ;fn fiNys o"kZ eqnzkLQhfr dh nj
vf/kd de jgsxha ;k voLQhfr dh fLFkfr jgsxhA bls gh Base effect dgrs gSaA
➢ 2020-21 esa dksjksuk ds dkj.k yxs ykWd&Mkmu dh otg ls GDP dh o`f) udkjkRed gks x;h FkhA
➢ vFkkZr~ mRiknu de gks x;k Fkk bl otg ls foÙk o"kZ 2021-22 esa gekjh GDP dh o`f) nj vf/kd jgsxhA bldk dkj.k gS&
base effect.
➢ tcfd mRiknu esa okLrfod o`f) mruh ugha gksxhaA
eqnzkLQhfr ds izHkko %
➢ eqnzkLQhfr dh nj vf/kd gksrh gSa rks cprdÙkkZ ;k _.knkrk ?kkVs esa jgrk gS blfy, cpr grksRlkfgr gksrh gSaA
➢ ;fn cpr grksRlkfgr gksxh rks fuos'k ij izfrdqy izHkko iM+x
s kA
➢ ;fn fuos'k ugha gksxk rks mRiknu ds volj o jkstxkj ds volj de gksx a sA
izHkkoh C;kt nj = C;kt nj – Inflation
➢ cprdrkZ dks ykHk fnykus ds fy, dsUnzh; cSad lnSo ;g iz;kl djrh gSa fd C;kt nj eqnzkLQhfr dh nj ls vf/kd jgsAa
➢ ;fn C;kt nj eqnzkLQhfr dh nj ls vf/kd jgrh gS rks cprdrkZ Qk;ns esa jgsxkA blfy, eqnzkLQhfr dh nj vf/kd gksrh gS]
rks dsUnzh; cSad C;kt njs c<+k nsrk gSa ¼;fn C;kt nj vf/kd gksxh rks fuos'k ij izHkko iM+x
s k½
➢ EkqnzkLQhfr vkSj vf/kd eqnzkLQhfr dk dkj.k curh gSaA
➢ eqnzkLQhfr c<+rh tkrh gS vkSj vUrr% iwjh eqnzk iz.kkyh /oLr gks tkrh gSaA bl fLFkfr esa dkykcktkjh vf/kd gks tkrh gSA
¼yksx oLrqvksa dk Hk.Mkj.k djus yx tkrs gSa½
➢ eqnzkLQhfr dk lokZf/kd cqjk izHkko xjhcksa rFkk vlaxfBr {ks= esa dke djus okys yksxksa ij iM+rk gSaA D;ksfa d eqnzkLQhfr dk
izfrdqy izHkko iM+rk gSA bls fiscal drag ¼jktdks"kh; d"kZ.k½ dgrs gSaA
jktdks"kh; d"kZ.k (fiscal drag) :- eqnzkLQhfr vf/kd gksus ij laxfBr {ks= esa dke djus okys yksxksa dks egaxkbZ HkÙkk fn;k tkrk gSA
➢ eagxkbZ HkÙks ds dkj.k mudh ekSfnzd vk; vf/kd gks tkrh gS tcfd mudk okLrfod osru ugha c<+rkA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ ekSfnzd vk; vf/kd gksus ds dkj.k esa Åij Tax slab esa vk tkrs gSaA blfy, mudh dj ns;rk,a c<+ tkrh gSa rks bllsmudh
okLrfod vk; de gks tkrh gSA
➢ vk;kr&fu;kZr ij izfrdqy izHkko iM+rk gSA
➢ ;fn eqnzkLQhfr dh nj vf/kd gksrh gS] rks gekjs vk;kr T;knk gks tkrs gS rFkk fu;kZr de gks tkrs gSaA
➢ blls gekjk Hkqxrku larqyu ladV esa iM+ tkrk gSaA
➢ eqnzkLQhfr vf/kd gksus ij ljdkjh ;kstukvksa ij O;; vf/kd gks tkrk gSA
➢ blls jktdks"kh; ?kkVk vf/kd gks tkrk gSA
➢ ;fn eqnzkLQhfr dh nj mPp jgrh gS] rks vFkZO;oLFkk dh lk[k ij izfrdqy izHkko iM+rk gSA blls fons'k fuos'k grksRlkfgr
gksrk gSA
eqnzkLQhfr ds dkj.k %&
1991 ls igys Hkkjr esa eqnzkLQhfr izk;% ?kjsyw dkjdksa ij vf/kd egRoiw.kZ izHkko Fks ysfdu 1991 d vkfFkZd lq/kkjksa ds ckn eqnzkLQhfr
ds ?kjsyw o oSf'od nksuksa izdkj ds dkj.k gS rFkk oSf'od dkj.k vf/kd izHkkoh jgsA
eqnzkLQhfr ds vUrZjk"Vªh; dkjd %&
1. ØwM vkW;y dh dhersa vf/kd gksus ij gekjs ns'k esa isVªksy o Mhty dh dhersa vf/kd gks tkrh gSA blds ifj.kke Lo:i
vU; oLrqvksa o lsokvksa dh dhers c<+ tkrh gS] D;ksfa d mRiknu ifjogu esa isVªksy o fMty dk mi;ksx fd;k tkrk gSA bl
izHkko dk dkLdsfa Mx effect dgrs gSaA
2. :i;s dh fofue; nj & ;fn :i;s dk voewY;u gksrk gS] vFkkZr~ #i;k detksj gksrk gS rks gekjsa vk;kr vR;f/kd eagxs gks
tkrs gSa] blfy, eqnkz LQhfr vf/kd gks tkrh gSA
vk;kr & egxsa → de gksx

a sA
₹ dk voewY;u
fu;kZr & lLrs → vf/kd gksx
a sA
3. vk;kr ckf/kr gksuk & dbZ dkj.kksa ls gekjs vk;kr ckf/kr gks tkrs gSaA
(i) fons'kksa esa ykWdMkmu gksukA
(ii) phu ds lkFk ruko vf/kd gksukA
(iii) dksbZ vkSj vUrZjk"Vªh; ladV mRiUu gksukA
➢ pwfa d gekjs vf/kdka'k m|ksx vk;krksa ij fuHkZj gksrs gSa] vkSj vk;kr esa cka/kk mRiUu gksus ls gekjs mRikn ij izfrdqy izHkko
iM+rk gSA
4. vkfFkZd izfrcU/k %& fodflr ns'kksa }kjk ;k WTO }kjk vkfFkZd izfrcU/k yxk;sa tk ldrs gSaA blls ;gg dkj.k vHkh Hkkjr
ij ykxw ugha gksrk gSaA
5. tyok;q ifjorZu %&
?kjsyw dkjd %&
1. gekjs ns'k esa d`f"k {ks= dh o`f) nj dh rqyuk esa etnwjh dh o`f) njsa vf/kd rsth ls c<+h gSaA bl otg ls d`f"k mRiknksa
dh ekax esa vf/kd o`f) gqbZ gSaA tcfd mldh vkiwfrZ de gqbZ gSaA blfy, d`f"k mRiknksa dh dherksa esa o`f) c<+rh jgrh
gSaA
2. jktdks"kh; ?kkVk vf/kd gksuk %& ljdkj izk;% iwt a hxr O;; dks fu;af=r dj ysrh gSA ysfdu jktLo O;; fu;af=r ugha
gksrs gSaA
o jktLo O;; vf/kd gksus ls eqnzkLQhfr c<+rh gSA orZeku esa ljdkj dk jktdks"kh; ?kkVk vf/kd gSA
3. ykWdMkmu dh otg ls mRiknu xfrfof/k;k¡ izHkkfor gqbZ gSA blls cktkj esa vkiwfrZ de gqbZ gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
4. C;kt njsa de gksuk & RBI vFkZO;oLFkk dks eanh ls cpkus ds fy, uhfr xr njksa dks yxkrkj de j[k jgh gSA vFkkZr~
bls fpi euh ikWfy'kh dgrs gSaA
de C;kt njsa = cktkj esa rjyrk vf/kd gksxhaA
bl otg ls cktkj ekax vf/kd gSaA
5. lkekU;r% fodkl'khy ns'kksa esa ekax l`ftr djus ds fy, vfrfjDr rjyrk cktkj esa j[kh tkrh gSaA ftlls fdersa vf/kd
jgrh gSaA
eqnzkLQhfr dks fu;af=r djus ds mik;

eqnzkLQhfr dks fu;af=r djus ds fy, nks rjg ds mik; egRoiw.kZ dke esa vkrs gSaA
ekSfnzd mik;
mik;
jktdks"kh; mik;
1. ekSfnzd mik; % RBI eq[; ftEesnkjh

(i) ek=kRed mik;
• Bank Rate
• Repo Rate
• Reverse Reop Rate
• MSF Rate
• SLR
• CRR
• Market ¼LVsVykbtslu Ldhe½
• Open Market Operation
• Long term operation (LTRO)
• ekSfnzdLQhfr ;fn vf/kd gS] rks bls fu;af=r djus ds fy, mi;qZDr dks c<+k;k tkrk gSA
• RBI dk eq[; mÙkjnkf;Ro eqnzkLQhfr dks fu;af=r djukA
(ii) xq.kkRed mik;
• uSfrd lq>ko
• izR;{k dk;Zokgh
• Rational Credit
• ekftZu vko';drk
• miHkksDrk ØsfMV fofu;eu
2. jktdksf"k; mik;%
i. vuko';d O;; dks fu;af=r djsxhaA mRiknu xfrfof/k;ksa dks c<+kus okys O;; vf/kd djrh gSA iwt
a hxr O;; c<+krh gS
ftlls mRikn c<+rk gSA
iwt
a hxr O;; & vf/kd
jktLo O;; & de
ii. fu;kZrksa dks de djrh gSA vk;krksa dks c<+krh gSA
iii. dkykcktkjh dks jksduk blds fy, ljdkj txg&txg Nkis ekjrh gS] rFkk HkMkj.k dks tCr djrh gSa ;k cktkj esas ykrh
gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
iv. lkoZtfud forj.k iz.kkyh dks etcwr fd;k tkrk gS ;k tks oLrq,a vf/kd egaxh gksrh gS rFkk cqfu;knh vko';d dh gksrh
gSA mldk forj.k ljdkj Lo;a djrh gSA
v. ljdkj jktdks"kh; ?kkVs dks de djrh gSA
vi.
izR;{k dj & bUgsa de fd;k tkrk gSA
dj
vizR;{k dj & bUgsa de fd;k tkrk gSA
vii. lfClMh iznku fd tkrh gSA
jktdks"kh; uhfr (Fisical Policy)
➢ ljdkj dh lHkh izfIr;ka rFkk O;; ls lEcfU/kr uhfr jktdks"kh; uhfr dgykrh gSA
➢ ljdkj dh jktdks"kh; uhfr ctV ds ek/;e ls vfHkO;Dr gksrh gSA
❖ ctV %& lafo/kku ds Art – 112 esa ctV dk izko/kku gSaA Art-112 esa bls okf"kZd foÙkh; fooj.k 'kCn dk iz;ksx fd;k x;k
gSA blesa ctV 'kCn dk mYys[k ugha gSaA
➢ vke&cksy&pky dh Hkk"kk esa bls ctV (Budget)
➢ ctV dh ijEijk 1860 bZ- esa tsEl foYlu us igyh ckj ctV is'k fd;kA (GG ykWMZ dsfuax)
➢ vktknh ds ckn 1947 esa "k.keq[k lsB~Bh us igyk ctV is'k fd;kA (Nov. 1947)
➢ ;g ctV Qjojh ds igys dk;Zfnol dks izLrqr fd;k tkrk gSA
➢ 2016 rd Qjojh ds vfUre dk;Zfnol dks ctV is'k fd;k tkrk FkkA
➢ ctV lqcg 11 cts is'k fd;k tkrk gSA 1999 ls igys lk;a 5%00 cts is'k fd;k tkrk FkkA
➢ ctV jk"Vªifr dh vkSj ls foÙk ea=h }kjk izLrqr fd;k tkrk gSA
➢ vkfFkZd ekeyksa dk foHkkx ¼foÙk ea=ky;½ ctV rS;kj djrk gSaA
➢ ctV izfØ;k esa 3 foÙk o"kZ ds vkadM+s is'k fd;s tkrs gSaA
➢ ctV izLrqr djus ls 1 fnu iwoZ foÙk ea=h vkfFkZd leh{kk is'k djrk gSaA vkfFkZd leh{kk esa 2 o"kZ ds vkadM+s is'k gksrs gSaA
1- orZeku o"kZ ds la'kksf/kr vkadM+s
2- xro"kZ & vafre vkadM+s (1 April 2020 – 31 March 2021)
➢ eq[; ctV esa vkxkeh foÙk o"kZ ds vuqekfur vkadM+s gksrs gSA
➢ ctV esa ljdkj ds vkxkeh foÙk o"kZ esa gksus okyh izkfIr;ksa rFkk O;; ls lEcfU/kr vuqekfur vkadM+s gksrs gSaA ;s laln dh
vuqefr vkadM+s gksrs gSaA ;s laln dh vuqefr ds fy, is'k fd;s tkrs gSaA
➢ 2017 esa ctV esa 3 izdkj ds cnyko fd;s x;s gSaA
i. Qjojh ds igys dk;Z fnol ij ctV is'k djukA
ii. ;kstuk xr O;; rFkk xSj ;kstukxr O;; dk oxhZdj.k lekIr dj fn;k x;kA
iii. ;kstuk vk;ksx lekIr vkSj iapo"khZ; ;kstuk lekIr dj nh x;hA
iv. jst ctV dks eq[; ctV esa 'kkfey dj fy;k x;kA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
ctV
jktLo [kkrk iwt

a hxr [kkrk
jktLo izkfIr;k¡ jktLo O;; iwt

a hxr izkfIr;k¡ iwt
a hxr O;;
• dj
• C;kt • j{kk • _.k pqdkuk
• _.k
• vuqnku • C;kt • fuos'k djuk
• fofuos'k
• PSU }kjk fn;s • lfClMh • _.k nsuk
• _.k dh olqyh
x;s iSl • iz'lk'kkfud O;; • fuos'k ds vUnj cqfu;knh
<kapksa dks rS;kj djuk
jktLo ?kkVk & jktLo O;; & jktLo izkfIr;k¡
izHkkoh jktLo ?kkVk & jktLo ?kkVk & iwt

a hxr ifjlaifÙk;ksa ds fuekZ.k ds fy, fn;k x;k vuqnkuA
❖ jktLo izkfIRk;k¡ % ljdkj dh os izkfIr;k¡] ftuls u rks ns;rk,¡ l`ftr gksrh gS] u gh ifjlaifÙk;k¡ de gksrh gSA
_.k ysuk
ns;rk,a
O;fDr
ifjlaifÙk;ka
_.k nsrk
❖ jktLo O;; %& ljdkj ds os O;; ftuls u rks ns;rk,a de gqbZ gS] u gh ifjlaifÙk;k¡ c<+h gSA
❖ iwt
a hr izkfIr;k¡ %& ljdkj dh os izkfIr;k¡ ftuls ns;rk ¼l`ftr½ gqbZ rFkk ifjlaifÙk;k¡ Hkh ugha c<+hA ¼de½
❖ iwt
a hxr O;; %& ljdkjj ds os O;; ftuls ;k rks ns;rk,a de gksrh gSa rFkk ifjlaifÙk;k¡ l`ftr gksrh gSaA mUgsa iwt
a hxr O;;
dgrs gSaA
➢ iwt a hxr izkfIr;ksa dh ctk; jktLo izkfIr;k¡ dks vPNk ekuk tkrk gSA
➢ jktLo O;; ds ctk;] iwt a hxr O;; dks vPNk ekuk tkrk gSA
ctV ?kkVk = dqy O;; & dqy izkfIr;k¡
¼jktLo O;; + iwt
a hxr O;;½ & jktLo izkfIr;k¡ $ iwta hxr izkfIr;k¡
➢ 1997 ls igys ctV ?kkVk gh gekjh jktdks"kh; uhfr dk eq[; lwpdkad FkkA vFkkZr~ ctV ?kkVs dh x.kuk dh tkrh
Fkh ysfdu 1997 ds ckn ls ctV ?kkVs ds LFkku ij jktdks"kh; ?kkVs dks eq[; lwpdkad cuk fn;k x;k gSA orZeku
esa ¼1997 ds ckn ls ctV ?kkVk 'kqU; dj fn;k½
jktdks"kh; ?kkVk %& jktdks"kh; ?kkVk = dqy O;; & dqy vk; ¼jktdks"kh; O;; $ iwt a hdqy O;;½ ¼jktLo O;; $ iwt
a hxr O;;½ &
¼jktLo izkfIr;k¡ & xSj _.k iwt
a hxr izkfIr;k¡½ $ ¼ljdkj }kjk l`ftr vU; ns;rk,¡½

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
jktdks"kh; ?kkVk %& 1 foÙk o"kZ esa vius lHkh izdkj ds O;; ¼jktLo O;; ;k iwt
a hxr O;;½ dks iwjk djus ds fy, ljdkj }kjk fy,
x, u;s _.k rFkk l`ftr vU; ns;rkvksa dks jktdks"kh; ?kVk dgrs gSaA
➢ jktdks"kh; ?kkVk = dqy _.k $ l`ftr vU; ns;rk,¡
=1 o"kZ esa l`ftr ns;rk
➢ 1 foÙk o"kZ esa ljdkj ds }kjk l`ftr dqy ns;rk,¡ dks jktdks"kh; ?kkVk dgrs gSaA
➢ vU; ns;rk & ;fn ljdkj dgha xkj.Vh nsrh gS rFkk og dEiuh fnokfy;k ?kksf"kr gks tkrh gS] rks ljdkj dks og _.k
pqdkuk iM+rk gSA
➢ 1997 ls igys ctV ?kkVk eq[; lwpadkd Fkk vkSj ctV ?kkVs dh iwfrZ ds fy, ljdkj Adhuc treasury bill tkjh djuh
FkhaA vFkkZr~ vfrfjDr izfrHkwfr;k¡ tkjh djrh FkhA rFkk u;s vfrfjDr uksV Niokrh Fkh blls cktkj esa rjyrk c<+ tkrh FkhA
blls eqnzkLQhfr dh leL;k cuh jgrh FkhaA
➢ ljdkj dk foÙkh; vuq'kklu de jgrk FkkA
➢ lq[ke; pØorhZ lfefr dh flQkfj'k ls ctV ?kkVs LFkku ij jktdks"kh; ?kkVs dks ctV dk eq[; lwapdkad cuk fn;k x;kA
ctV ?kkVk 'kwU; dj fn;k x;k vkSj blds LFkku ij "Ways and means advance" (WMA) 'kq: fd;k x;kA
Way and means advance: RBI dsUnz ljdkj o jkT; ljdkjksa dks _.k lqfo/kk miyC/k djkrh gS] ;fn ljdkj dh izkfIr o O;;
esa valrqyu gS] rks blds fy, vf/kdre 90 fnu ds fy, _.k fn;k tkrk gS rFkk jsiks nj ls C;kt olqy fd;k tkrk gSA
• _.k dh vf/kdre jkf'k ljdkj o RBI }kjk fu/kkZfjr dj nh tkrh gSA ;fn bls limit ls vf/kd _.k fy;k tkrk gS] ljdkj
ds }kjk rks C;kt nj jsiks jsV ±2% gksxhA
• Over draft facility dsoy 10 fnu ds fy, gks ldrh gSA
• ;g eqnzk cktkj dk ,d mnkgj.k gSaA
izkFkfed ?kkVk %& ¼izkFkfed ?kkVk = jktdks"kh; ?kkVk & C;kt vnk;xh½
jktdks"kh; ?kkVk vf/kd gksus ij mlds nq"izHkko %&
➢ Lkjdkj ij _.k vf/kd gks tk;sa& ;fn jktdks"kh; ?kkVk vf/kd gS rks ljdkj ij _.k vf/kd gks tk;sxk ¼dtkZ c<+ tk;sxk½
rks mls u;s _.k ugha fey ik;sxs ,slh fLFkfr esa ljdkj fMQkYVj gksus yxrh gS] deZpkfj;ksa dks le; ij osru Hkqxrku ugha
gksxk rks blls jktuhfr vfLFkjrk mRiUu gks tkrh gSA
➢ fons'kksa ls _.k & ?kkVs dks iwjk djus ds fy, ljdkj dks _.k ysuk iM+rk gSA ;fn ljdkj fons'kksa ls _.k ysrh gS rks gesa
gekjh lEizHkwrk ds lkFk le>kSrk djuk iM+rk gSaA D;ksfa d gesa _.k nsus okyksa dh 'krksZa dks ekuuk iM+rk gSA
➢ ?kjsyw _.k & ;fn ljdkj ?kjsyw cktkj ls _.k ysrh gS rks futh {ks= ds fy, /ku dh miyC/krk ugh jgsxh rks bls ØkmfMax
out dgrs gSA ØkmfMax out dh fLFkfr esa fuos'k ugha gksxk rks mRiUu ugha gksxk fQj jkstxkj ugha fey ik;sxkA bls gh
Crouding out effect dgrs gSaA
➢ eqnzkLQhfr & jktdks"kh; ?kkVk vf/kd gksus ls eqnzkLQhfr dh fLFkfr c<+ tkrh gSA ¼D;ksfa d jktdks"kh; ?kkVk vf/kd gS½ rks
eqnzkLQhfr dh leL;k c<+ tk;sxhA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
jktdksf"k; ?kkVk vf/kd
ljdkjh O;; vf/kd
rjyrk vf/kd
ekax vf/kd
eqnzkLQhfr c<+ tk;sxh
➢ ;fn ljdkj u rks fons'k ls _.k ys u gh ?kjsyw cktkj ls _.k ys] viuk ?kkVk iwjk djus ds fy, vfrfjDr lsD;qjVh tkjh
djds u;s uksV Niokrh gS] rks blls Hkh cktkj dh rjyrk c<+rh gS] rFkk eqnkz LQhfr dh leL;k c<+ tkrh gSA
❖ tqM+ok ?kkVs (twin dificit) : dh leL;k mRiUu gksrh gS] ;fn jktdks"kh; ?kkVk vf/kd gSA
jktdksf"k; ?kkVk vf/kd
ljdkjh O;; vf/kd
cktkj dh rjyrk vf/kd
ekax vf/kd
fu;kZr de ;k vk;kr vf/kd
O;kikj ?kkVk vf/kd
❖ O;kikj ?kkVk & fu;kZr de ;k vk;kr T;knk gks rks mls O;kikj ?kkVk dgrs gSaA
O;kikj ?kkVk = fu;kZr < vk;kr
Twin deficit = jktdks"kh; ?kkVs ds lkFk&lkFk O;kikj ?kkVk Hkh gksA
7. ljdkj jktLo O;; esa vklkuh ls dVkSrh ugha dj ldrh blfy, vius ?kkVs dks de djus ds fy, og vius iwt a hxr
O;; esa deh dj nsrh gSA blls cqfu;knh <kaps ij izfrdqy izHkko iM+rk gS rks gekjh vFkZO;oLFkk dh o`f) nj esa deh gks
tk;sxhA
GDP Growth de gks tk;sxhA
cqfu;knh <kapk & 1. HkkSfrd <kapk 2. Lkekftd <kapk
fctyh] ikuh] lapkj] lM+d vkfn
8. ;fn jktdks"kh; ?kkVk vf/kd jgrk gS] blls vFkZO;oLFkk dh fo'oluh;rk de gksrh gSaA nqljksa dh Rating ,tsl
a h
vFkZO;oLFkk dh jsfVax dks de dj nsrs gSaA
vxj jsfVax de gksxh rks blls fons'kh fuos'k ij izfrdqy izHkko iM+x
s kA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
jktdks"kh; ?kkVs dks fu;af=r djus ds fy;s ljdkj ds }kjk fu;af=r fd;s x;s mik; %&
1. FRBM Act 2003 :- Fisical responsibility and budget management at 2003
jktdks"kh; mÙkjnkf;Ro o ctV izcU/ku vf/kfu;e & 2003
• bl dkuwu esa gekjk jktdks"kh; ?kkVk 3% gksuk pkfg, rFkk jktLo ?kkVk 0% gksuk pkfg,A
2. Zero Base Budget 'kq: fd;kA ¼vo/kkj.kk dks ykxw fd;k tk jgk gSA½
3. Out come budget dh vo/kkj.kk dks ykxw fd;k tk jgk gSA
4. dj lq/kkj ykxw fd;s tks jgsa gSAa GST, VAT, DTC
5. lfClfM dks foosd lEer cuk;k tk jgk gSA rFkk izR;{k lfClfM dks izksRlkgu fn;k tk jgk gSA
6. fofuos'k dks izksRlkgu fn;k tk jgk gSA
7. PPP ekWMy dks izksRlkgu fn;k tk jgk gSA ¼ifCyd] izkbosV] ikVuZf'ki½
8. futh {ks= dks c<+kok fn;k tk jgk gSA
•
ljdkjh foHkkxksa dks vkRefuHkZj cuus ds fy, izksRlkfgr fd;k tk jgk gSA blds fy, os foHkkx lkoZtfud lEifÙk ds
O;olkf;d nksgu dh vuqefr nh x;h gSA
❖ FRBM Act 2003 : ;s 2003 esa ykxw gks x;k FkkA
mÌs'; %&
1. jktdks"kh; vuq'kkluA
2. O;; o jktLo] _.k dk dq'ky izcU/ku djukA
3. lef"V vFkZO;oLFkk dk LFkkf;RoA
4. jktdks"kh; uhfr o ekSfnzd uhfr ds e/; csgÙkj rkyesyA
5. jktdks"kh; dk;ksaZ esa iknf'kZrkA
FRBM act ds izko/kkuksa ds rgr]
i. 2008-09 rd jktdks"kh; ?kkVk GDP dk vf/kdre 3% rd gks ldrk gSaA

ii. 2008-09 rd jktLo ?kkVk GDP dk 0% gksuk pkfg,A bldk izko/kku gSa] fd ctV ds lkFk&lkFk fuEu nLrkost is'k
djuk vko';d gS&
a. e/;kof/k jktdks"kh; uhfr fooj.kA
b. jktdks"kh; uhfr j.kuhfr fooj.kA
c. lef"V vFkZO;oLFkk (Framework Statement)
d. e/;kof/k O;; (Framework statement) <kapk fooj.k
➢ 2008-09 esa oSf'od eUnh dh fLFkfr mRiUu gks x;h FkhA ftldk vFkZ Hkkjr ij Hkh FkkA vr% Hkkjrh; vFkZO;oLFkk esa ek¡x
l`ftr djus ds fy, jktdks"kh; ?kkVs dks c<+k;k x;kA
➢ 2012 esa FRBM Act esa la'kks/ku fd;k x;k] dgk dh 2015 rd y{; iwjs djus gSaA
➢ blds lkFk gh 2012 esa izHkkoh jktLo ?kkVs dk izko/kku fn;k x;kA
➢ 2015 bZ- esa la'kks/ku fd;k vkSj dgk 2018 rd ;s y{; iqjk gksuk pkfg,A

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ 2016 bZ- N.K. flag lfefr cuk;h x;h rFkk bl lfefr us dgk 2020 rd jktdks"kh; ?kkVk GDP dk 3% gksuk pkfg, rFkk
2023 rd 2.50% gksuk pkfg,A
➢ 2023 rd jktLo ?kkVk 8% gksuk pkfg,A
Deft- GDP Ratio :
➢ _.k GDP vuqikr 60% gksuk pkfg,A
40% dsUnz ljdkj ds _.k
20% jkT; ljdkj ds _.k
➢ jktdks"kh; ifj"kn dk xBu fd;k tkuk pkfg, tks fd ,d Lok;Ùk laLFkk gks] ftlls (1+2) lnL; gksxAsa ysfdu dksjksuk ds
dkj.k jktdks"kh; ?kkVs ds y{; dks izkIr djuk dfBu gks x;k gSA
➢ orZeku esa jktdks"kh; ?kkVk 9% gSA
➢ jktLo ?kkVk 7.5% gSA
FRBM Act esa Escape clauses ns j[ksa gSa ¼fopyu ds izko/kku½ fuEu fLFkfr;ksa esa jktdks"kh; ?kkVk 3% ls vf/kd gks ldrk gSA
1. jk"Vªh; lqj{kk & ;q) gks tk;sAa

2. jk"Vªh; vkink
3. d`f"k dk fo?kVu
4. lajpukRed lq/kkj
Zero Base Budget :
➢ ijEijkxr ctV esa dsoy ljdkj dh ubZ ;kstukvksa o dk;ZØeksa dh leh{kk dh tkrh gSaA mudh izklafxdrk o mi;ksfxrk
ns[kh tkrh gSA
➢ iqjkuh ;kstukvksa o dk;ZØeksa dh leh{kk ugha dh tkrhA mUgsa Lor% Lohd`fr ns nh tkrh gSaA tcfd Zero Base budget
esa ubZ ;kstukvksa ds lkFk&lkFk iqjkuh ;kstukvksa dh Hkh leh{kk dh tkrh gSA
➢ blesa ctV ds vk/kkj dks 'kqU; ekuk tkrk gS vFkkZr~ ,sls ekuk tkrk gSa fd lHkh ;kstuk;sa ubZ gSaA
❖ ykHk %&
➢ jktdks"kh; ?kkVk de gksrk gSaA ¼jktdks"kh; vuq'kklu cuk jgrk gS½
➢ os iqjkuh ;kstuk;sa tks vizklafxd ;k vuqi;ksxh gks tkrh gS mUgsa cUn fd;k tk ldrk gSA
➢ dk;Zikfydk ij fo/kkf;dk dk fu;a=.k c<+rk gSaA
❖ dfe;ka &
➢ le; T;knk [kpZ gksrk gSaA blfy, zero base budget dh vo/kkj.kk dks Concept ds :i ls vo/kkj.kk dks ykxw fd;k
tkrk gSaA
➢ 1986 bZ- esa igyh ckj foKku o rduhdh foHkkx }kjk bldk vkaf'kd iz;ksx fd;k x;kA
➢ iwoZ foÙk ea=h ;a'koUr flUgk us bl ij cy fn;k FkkA
❖ Out Come budget :
➢ 2005 bZ- esa foÙk ea=h P. fpnEcje us bldh ?kks"k.kk dh FkhA
➢ 2006 bZ- esa bls ykxw fd;k x;kA
➢ 2007-08 bZ- esa Out Come budget o Performance budget dk foy; dj fn;k x;kA
➢ Performance budget 1968 bZ- esa ykxw fd;k x;k FkkA
➢ Out come budget ekulwu l= esa is'k fd;k tkrk gSA
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ Out come budget ds rgr fofHkUu foHkkxksa dks HkkSfrd y{; fn;s tkrs gSaA rFkk budget ds Out comes dk xq.kkRed
ewY;kadu Hkh fd;k tkrk gSaA
Gender budget :
2005 bZ- foÙk ea=h ih fpnEcje us fd FkhA blds rgr ctV esa efgykvksa o cPpksa ds dY;k.k ds fy;s ;k efgyk l'kfDrdj.k ds
fy, tks /ku vkoafVr fd;k tkrk gS rFkk tks fo'ks"k ;kstuk,a o dk;ZØe cuk;s tkrs gS] mUgsa vyx ls crk;k tkrk gSA is'k fd;k
tkrk gSaA
mís'; %& efgyk l'kfDrdj.k ds izfr ljdkj dh xEHkhjrk ;k laosnu'khyrk dks n'kkZuk rkfd bl eqís ij tkx:drk c<+sA
❖ ys[kkuqnku (Vote on account) :

➢ igys Qjojh ds vafre dk;Zfnol dks ctV is'k fd;k tkrk Fkk rFkk ;g yxHkx 15 ebZ rd ikfjr fd;k tkrk FkkA
➢ tcfd u;k foÙk o"kZ 1 vizSy ls 'kq:@vkjEHk gks tkrk gSaA rks 1 vizSy ls 15 ebZ rd ds [kpksZa dks iqjk djus ds fy;s
ys[kkuqnku is'k fd;k tkrk FkkA ysfdu 2017 ls Qjojh ds igys dk;Zfnol dks ctV is'k fd;k tkrk gSaA rFkk 31 ekpZ rd
ikfjr dj fn;k tkrk gSA vFkkZr~ foÙk o"kZ vkjEHk gksus ls igys ctV ikfjr dj fn;k tkrk gSaA vr% ys[kkuqnku is'k djus
dh vko';drk ugha gksrh gSaA
❖ vUrfje ctV (Interior budget/Vot on Account) :
➢ pqukoh o"kZ esa bls is'k fd;k tkrk gSaA D;ksfa d ljdkj dk dk;Zdky de cpk gksrk gS rks cps gq;s dk;Zdky ds fy, vUrfje
ctV is'k fd;k tkrk gSaA rkfd eq[; ctV uofuokZfpr ljdkj cuk ldsAa
❖ ghukFkZ izcU/ku (Deficit financing) :
➢ bls ?kkVs dk foÙk;u Hkh dgrs gSaA
➢ ;fn ljdkj ds O;; mlds vk; dh rqyuk esa vf/kd gks rks bls ghukFkZ izcU/ku djrs gSA bu O;; dks iwjk djus ds fy,
ljdkj dk _.k ysuk iM+rk gS ;k ljdkj dks u;h izfrHkwfr;ka tkjh djuh iM+rh gSa ;k u;s uksV Niokrs iM+rs gSaA
➢ J.M. dhUl us ghukFkZ izcU/ku dh vo/kkj.kk nh gSA
➢ 1929 dh vkfFkZd eanh (Great Depression) ds le; bldk mi;ksx fy;k x;kA rjyrk dks c<+kus ds fy, rFkk ekax l`ftr
djus ds fy,A
➢ izk;% fodkl'khy ns'kksa esa ekax l`ftr djus ds fy, ghukFkZ izcU/ku dk mi;ksx fd;k tkrk gSA
xjhch (Poverty)
lkis{k xjhch fujis{k xjhch

(Relative Poverty) (Absolute Poverty)
1- lkis{k xjhch %& blesa yksxksa ds chp rqyukRed v/;;u fd;k tkrk gSA blds rgr vkfFkZd vlekurk dks ns[kk tkrk gSA
➢ rqyukRed :Ik ls ftl O;fDr dh vk; de gksrh gS mls xjhc ekuk tkrk gSA
tSls %& A ds ikl & 1000 Cr.

Income
B ds ikl & 100 Cr.
rks A dh rqyuk esa B xjhc gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ lkis{k xjhch ds rgr vyx&vyx ns'kksa esa xjhch ekiu ds ekud vyx&vyx gksrs gSaA fofHkUu ns'kksa ds vkfFkZd fodkl
dh fLFkfr ij fuHkZj djrs gSaA
tSls & fodkflr ns'kksa esa xjhch ds ekud vyx gksrs gSaA fodkl'khy ;k vYi fodflr ns'kksa dh rqyuk esAa
➢ Ex = Hkkjr esa igys dSyksjh miHkksx dks xjhch ekiu dk vk/kkj ekuk tkrk FkkA ysfdu orZeku esa xjhch ekiu ds fy,
dSyksjh miHkksx ds lkFk&lkFk f'k{kk] LokLF; euksjatu] fctyh] ikuh vkfn dks vk/kkj cuk;k tkrk gSaA
➢ Xkjhch ekiu ds fy, ns'k] dky vkSj ifjfLFkfr ds lkis{k ekud cnyrs gS] rks bls lkis{k xjhch dgrs gSaA
➢ Lkis{k xjhch ds rgr vk; fd vlekurk dks ns[kk tkrk gSA
➢ ykWjUs t oØ vk; dh vlekurk dks n'kkZrk gSA
Y
vk; C.F.
la'k;
ckjEckjrk
okLrfod xjhch js[kk
X
Tkula[;k dh la'k;
ckjEckjrk
➢ ykWjUs l ds vuqlkj ;fn fdlh ns'k dh okLrfod xjhch js[kk vkn'kZ js[kk utnhd gS] rks bldk vFkZ gS fd ml ns'k esa vk;
dh vlekurk de gSaA
➢ ;fn okLrfod xjhch js[kk vkn'kZ js[kk ls nwj gS] rks bldk vFkZ gS fd vk; dh vlekurk vf/kd gSaA
➢ ;fn fdlh ns'k dk ykWjsUl oØ iw.kZr% vkn'kZ js[kk esa lekfgr gks tkrk gS] rks bldk vFkZ gS fd ml ns'k es a iw.kZr% lekurk
gSA
➢ ;fn fdlh ns'k dk ykWjsUl oØ x-v{k esa lekfgr gks tkrk gS rks iw.kZr% vlekurk gSaA
Tkula[;k C.F. of population vk; C.F. vk;

10% 20% 5% 5%
20% 40% 10% 15%
20% 60% 15% 30%
20% 80% 20% 50%
20% 100% 50% 100%
ykjsUl oØ
𝛥𝑂𝐴𝐶
fxuh xq.kkad (Gini Coefficient) = 𝛥𝑂𝐴𝐵
fxuh xq.kkad ykWjsUt oØ dk gh xf.krh; :i gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
okLrfod js[kk
C
O B
➢ fxuh xq.kkad dk eku 0 ls 1 ds chp gksrh gSA

➢ fxuh xq.kkad dk eku vf/kd gS rks vlekurk vf/kd gSaA
➢ fxuh xq.kkad dk eku de gS] rks vlekurk de gksxhA
➢ ;fn fxuh xq.kkad dk eku 0 gS] rks iw.kZr% lekurk gSaA
➢ ;fn fxuh xq.kkad dk eku 1 gS] rks iw.kZr% vlekurk gSaA
❖ fujis{k xjhch %
➢ blesa O;fDr ds fy, ;g ns[kk tkrk gS fd og thou dh cqfu;knh vko';drkvksa dks iqjk dj ikrk gSa ;k ughaA
➢ tks O;fDr thou dh cqfu;knh vko';drkvksa dks iqjk ugha dj ikrk gS] mls xjhc ekuk tkrk gSaA thou dh cqfu;knh
vko';drkvksa ds fy, dqN ekud fu/kkZfjr fd;s tkrs gSa rFkk bu ekudksa ds vk/kkj ij xjhch js[kk dk fu/kkZj.k gksrk
gSA rFkk yksxksa dks nks Jsf.k;ksa esa ckaVk tkrk gSaA
(i) xjhch js[kk ls uhps (BPL - Below Poverty Line)
(ii) xjhch js[kk ls Åij (APL – Above Poverty Line)
bls Head Count method ¼flj fxuus dh fof/k½ Hkh dgrs gSaA blesa xjhcksa dk izfr'kr ;k xjhcksa dh la[;k fudkyh tkrh gSaA
xjhch fu/kkZj.k dh ;g fof/k yksdfiz; gSaA Hkkjr esa xjhch ekiu ds fy;s fujis{k xjhch dks ns[kk tkrk gSA
UNO, Asian Development, Bank, World Bank vkfn ds }kjk Hkh fujis{k xjhch ls gh xjhch ekih tkrh gSA
fujis{k xjhch ds vuqeku ds nks fy, nks izdkj dh fof/k;ksa dk iz;ksx fd;k tkrk gSaA
URP = Uniform Reference Period
blds rgr ;g ns[kk tkrk gS fd fdlh ifjokj us fiNys 30 fnu esa [kk| oLrqvksa ij dqy fdruk O;; fd;k gSA
NSS = National Sample Serve Office
2. MRP = Mixed Reference Period
➢ blds rgr ;g ns[kk tkrk gS fd fiNys 365 fnu esa diM+s] twrs] f'k{kk] LokLF;] fVdkÅ oLrq,a vkfn ij fdruk dqy O;;
fd;k gSaA
❖ Hkkjr esa xjhch ekiu %
➢ Hkkjr esa xjhch ekiu dk dke uhfr vk;ksx }kjk fd;k tkrk gSA
➢ uhfr vk;ksx dks NSSO vkadM+s miyC/k djokrk gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ NSSO lkaf[;dh ,oa dk;ZØe fØ;kUo;u ea=ky; ds v/khu vkrk gSA

➢ Hkkjr esa xjhch ekiu dh bdkbZ ifjokj dks ekuk x;k gS ,d vkn'kZ ifjokj esa 5 lnL; ekus x;s gSaA
➢ Xjhch dk vuqeku izfro"kZ fd;k tkrk gSaA
➢ cM+s Lrj ij losZ 5 o"kZ esa ,d ckj fd;k tkrk gSaA
➢ xjhch ekiu ds fy, vk; dks vk/kkj ugha cuk;k tkrk gSa cfYd miHkksx O;; dk vk/kkj cukdj fd;k tkrk gSaA
➢ Hkkjr esa igys dSyksjh dati'ku ¼miHkksx½ dks xjhch ekiu dk vk/kkj cuk;k x;k FkkA ysfdu orZeku esa dSyksjh miHkksx ds
lkFk&lkFk f'k{kk] LokLF;] diM+s] twrs ,oa vU; fVdkÅ oLrqvksa dks Hkh vk/kkj cuk;k tkrk gSA
➢ dSyksjh miHkksx = 2100 dSyksjh & 'kgj izfr O;fDr
= 2400 dSyksjh & xkao izfr O;fDr
➢ lkekU; O;fDr ,d fnu esa 3000 dSyksjh dh t:jr gksrh gSaA dBksj ifjJe okys O;fDr dks 4000 dSyksjhA
➢ UNO = MPI (Multidimentional poverty index)
➢ World Bank : tks O;fDr 1 fnu esa 1.90 MkWyj ls de O;; djrk gSA
➢ ,f'k;u MoyiesaV cSad & tks O;fDr 1 fnu esa 1-51 MkWyj ls de O;; djrk gS] oks xjhc gSA
Hkkjr esa xjhch ekiu dk bfrgkl &
➢ 1868 bZ- esa Poverty an Unbritish Rule in India uked iqLrd esa xkao esa ₹16 o 'kgj ₹35 izfrO;fDr izfro"kZ ls dekrk
gS rks og xjhc gSaA
➢ 1938 :- jk"Vªh; vk;kstu lfefr dk xBu dkaxzsl us fd;k FkkA bl lfefr ds v/;{k tokgj yky usg: FksA bl lfefr us
Hkkstu ¼2800 dSyksjh½] diM+k ¼31 xt½] edku ¼10×10½ dks vko';drk crk;kA
➢ bl lfefr xkao esa ₹15 o 'kgjh {ks= esa ₹20 dh vk; lqfuf'pr djuh pkfg,A
➢ 1944 bZ- ckWEcs Iyku %& ns'k ds eq[; m|ksxifr;ksa us ns'k ds vkfFkZd fodkl ds fy, ,d dk;Z ;kstuk cuk;h FkhA
• bl Iyku dks VkVk&fcM+yk Iyku Hkh dgrs FksA
• izfr O;fDr ₹75 izfr o"kZ ls de vk; okys dks xjhc ekuk tkrk gSA
2019 esa NSSO o CSO dk foy; dj fn;k x;k gSA blds LFkku ij bldk u;k uke NSO : National Stastic office ¼jk"Vªh;
lkaf[;dh dk;kZy;½ j[kk gSA
vktknh ds ckn %&
➢ 1962 bZ- esa ;kstuk vk;ksx us ,d fo'ks"kK ny cuk;kA blds vuqlkj izfro"kZ xkao & ₹20 rFkk 'kgj & ₹25 [kpZ djrk gSA
➢ 1971 bZ- V.M. nk.Msdj o N. jFk dks fu;qDr fd;k x;k xjhch ekiu gsrqA bUgksua s xjhch ekiu ds fy, dSyksjh miHkksx dh
vk/kkj cuk;kA
➢ 2200 dSyksjh izfrO;fDr izfrfnu ls de miHkksx djus okyk O;fDr xjhc gSaA
➢ 1979 bZ- Y.K. vy?k dh v/;{krk esa vy?k lfefr dk xBu fd;k FkkA buds vuqlkj dSyksjh miHkksx ds lkFk&lkFk iks"kd
rRoksa dk Hkh /;ku nsuk pkfg,A
xkao = 2400 dSyksjh

izfrO;fDr izfrfnu vko';drk gksrh gSA
'kgj = 2100 dSyksjh
➢ 1993 bZ- D.T. ydM+kokyk dh v/;{krk esa lfefr dk xBu fd;k x;kA
• blus xjhch ekiu ds fy, dSyksjh miHkksx dks gh xjhch ekiu dk vk/kkj cuk;kA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
xkao = 2400 dSyksjh

izfrO;fDr izfro"kZ
'kgj = 2100 dSyksjh
• lfefr us flQkfj'k dh vke vkneh Fkksd eqY; ij oLrq,a ugha [kjhnrk gSaA og miHkksDrk eqY; ij oLrq,a [kjhnrk gSaA
vr% xjhch ekiu esa WPI dh txg CPI dk iz;ksx fd;k tkuk pkfg,A
'kgj ds fy;s CPI = vkS|ksfxd odZj

xkao ds fy;s CPI = d`f"k etnwj
➢ pqafd vyx&vyx jkT;ksa o UT ds fy;s CPI vyx&vyx gksrk gSaA blfy;s lHkh jkT;ksa o UT ds fy;s xjhch js[kk Hkh
vyx&vyx gksuh pkfg,A
lu~ 2005 esa lqjs'k rsanqydj lfefr dk xBu fd;k x;k FkkA
lu~ 2009 esa flQkfj'ksa nh Fkha&
➢ lfefr us ijEijkxr :i ls viuk;s tkus okys dSyksjh miHkksx dh vkykspuk dh D;ksfa d fiNys pkj n'kd esa yksxksa dk miHkksx
dk rjhdk cny x;k gSaA
➢ dSyksjh miHkksx ds vfrfjDr Hkh vU; vok';drk,a Hkh gksrh gSaA
➢ igys ;g ekuk tkrk Fkk fd f'k{kk o LokLF; miyC/k djokuk ljdkj dh ftEesnkjh gSaA
➢ eqnzk LQhfr ds lkFk lek;kstu Hkh lgh ugha gSaA
flQkfj'ksa %&
➢ dSyksjh miHkksx ds lkFk&lkFk fuEu phtksa dks Hkh egRo fn;k tkuk pkfg,A tSls & nq/k] nkys] [kk|] rsy] lfCt;k¡] Qy]
lq[ks&esos] diM+s] twr]s f'k{kk] LokLF;] euksjatuA
➢ xkaoksa vkSj 'kgjksa ds jgu&lgu esa vc vf/kd varj ugha gSaA bl dkj.k Uniform Poverty Line Basket esa URP dh txg
MRP dks viuk;k tkuk pkfg,A
➢ 2009-10 esa xjhch ekiu QkWeqZysa dks viuk;k x;kA yxHkx 29% yksx xjhc FksA
C. jax jktu lfefr – 2012 :
➢ lqj's k rsanqydj ds }kjk fn;s x, QkWewys dh leh{kk djukA

➢ nqfu;k ds vU; ns'kksa esa xjhch ekiu ds fy;s dkSulh fof/k;ksa dk iz;ksx dh tkrh gSA mu lc dk v/;;u djukA
➢ Hkkjr ds fy, xjhch ekiu dh csgrj fof/k dk lq>ko nsukA
➢ Lkkekftd dY;k.k dh ;kstukvksa dk fØ;kUo;u dSls fd;k tk;s rkfd xjhch dk mUeqyu fd;k tk ldsAa
dk;Z %&
1.blus vyx izfØ;k dk iz;ksx fd;k x;kA

2.blus NSSO ds vkadM+ksa dk iz;ksx ugha fd;kA
3.blus Lora= losZ djok;kA (Central for monitering Indian Economy) lsA
4.tks yksx cpr ugha dj ikrs gSa mu yksxksa dks xjhc ekuk tkuk pkfg,A
5.dSyksjh miHkksx ds lkFk&lkFk Hkkstu dh xq.koÙkk ij Hkh tksj fn;k tkuk pkfg,A
xkaoksa esa 2155 dSyksjh] 48 xzke izksVhu] 26 xzke olk
'kgjksa esa 2090 dSyksjh] 50 xzke izksVhu] 28 xzke olk
➢ buds lkFk lkekU; thou thus ds fy;s vkSj [kk| O;; Hkh gksus pkfg,A

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
tSls%& f'k{kk] LokLF;] fctyh vkiwfrZ] ikuh vkiwfrZ] diM+]s tqÙks vkfnA
➢ blds vuqlkj xjhch vuqeku ds fy;s Modified MRP dk iz;ksx fd;k tkuk pkfg,A
Modified MRP :
o 365 days – diM+s] twr]s f'k{kk] LokLF;] fVdkÅ oLrqvksAa

o 30 days – [kk| oLrqvksa ij fd;k x;k fctyh] ¶;wy] fdjk;k
o 7 days – v.Ms] nq/k] Qy] lfCt;ksa ij fd;k x;k [kpZ
➢ xkaoksa o 'kgjksa ds fy;s vyx&vyx ckLdsV dk iz;ksx fd;k tkuk pkfg,A
➢ 2009&10 esa yxHkx 37% yksx BPL esa FksA
➢ 2011-12 esa yxHkx 29.5% yksx BPL FksA
O;; & xkao = 4860, 'kgj = 7035
Xkjhch fuokj.k ds rjhds %& xjhch fuokj.k ds fy, izk; nks izdkj dh vo/kkj.kk;sa izpfyr gS&
A. Trickle-down theory: fjlko fl)kUr] Infiltration theory fl)kUr

• blds rgr ljdkj dks cqfu;knh <k¡ps ds fodkl ij O;; djuk pkfg,A
• fuos'k o mRiknu dh xfrfof/k;k¡ ij è;ku nsuk pkfg,A
• ;fn vf/kd fuos'k gksxk rks yksxksa dks jkstxkj feysaxkA
• jkstxkj ls mudh fu;fer vk; gksxhA fu;fer vk; ls yksx xjhch js[kk ls Åij vk tk;sxsA
• leFkZd & txnh'k Hkxorh] vjfoUn iuxfM+;kA
• Book : Why growth matters
B. izR;{k fuokj.k % blds rgr~ ljdkj dks xjhcksa dh izR;{k lgk;rk djuh pkfg,A tSls& [kk| lqj{kk dk;ZØe fu%'kqYd f'k{kk
o fpfdRlk lsok;sa eujsxkA
leFkZd & veZR; lsu] T;ka nzs´
• Book – An uncertain glory India and it's contradictions

• vktknh ds ckn vkjEHk us xjhch fuokj.k ds fy, v/kkseq[kh fl)kUr dks viuk;k x;kA
• 5oha iapo"khZ; ;kstuk ls xjhch fuokj.k ds fy, izR;{k fuokju fl)kUr dks viuk;k x;kA blds rgr xjhcksa dh izR;{k
lgk;rk ds dk;ZØe pyk;s x;sA
O;kikj&uhfr (Trade Policy)

Hkqxrku lUrqyu % ,d foÙk o"kZ esa Hkkjr ds }kjk 'ks"k fo'o ds lkFk ¼vU; ns'k½ fd;s x;s lHkh izdkj ds ekSfnzd ysu nsu dks Hkqxrku
lUrqyu jgrk gSA Hkqxrku lUrqyu lnSo lUrqfyr jgrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Hkqxrku
pkyw [kkrk (Current a h [kkrk (Capital

iwt
Account) Account)
Visible Item Invisible _.k fuos'k

¼n`'; ensa½ Items (Borrowing) (Investment)
lsok;as
oLrqvksa dk
vk;kr&fu;kZr 1. Remittance
¼O;kikj [kkrk½ 2. Tourism
FDI FPI
3. Grant
¼fons'kh izR;{k fuos'k½ ¼fons'kh vizR;{k fuos'k½
4. Software
5. Profit
6. BPO
7. Gifts
• vk;kr > fu;kZr & ;g ?kkVs (Deficit) dh fLFkfr gSA

• fu;kZr > vk;kr & vf/k'ks"k (Surplus) dh fLFkfrA
➢ oLrqvksa ds ekeys ;k O;kikj [kkrs esa Hkkjr ?kkVs dh fLFkfr esa jgrk gSA D;ksfa d gekjs vk;kr fu;kZrksa dh rqyuk esa vf/kd gSA
➢ vn`'; enksa ds O;kikj esa Hkkjr vkf/kD; dh fLFkfr esa jgrs gSA D;ksfa d jsfeVsUt vftZr djus esa Hkkjr fo'o esa igys uEcj ij
gSA
➢ lokZf/kd jsfeVsUt gesa ukFkZ vesfjdk ls izkIr gksrk gSA blds ckn [kkM+h ns'kksa ls jsfeVsUy T;knk dekrs gSA
➢ lkW¶Vos;j esa Hkkjr vkt Hkh ,d cM+h 'kfDr gSA gkMZos;j esa ge cgqr vf/kd fiNM+s gq, gSA
T.C.S., Infosys, Wipro
BPO : ;s Hkh Hkkjr nqfu;k ds vaxzsth ns'kksa esa gSA vkÅRlksflZx esa vkxs jgus ds fuEu dkj.k gS&
1.vaxzsth ekè;e esa f'k{kk

2.fuEu etnwjh njsa
➢ pkyw [kkrs ij ge ?kkVs dh fLFkfr esa jgrs gSaA D;ksfa d O;kikj [kkrs dk ?kkVk vf/kd gksrk gS tcfd vn`'; enksa dk vkf/kD;
de gksrk gSA tks O;kikj ?kkVs dks cqjk ugha dj ikrk gSA
➢ fons'k fuos'k dk bu¶yks ¼vUrZizokg½ ckg~; izokg dh rqyuk esa vf/kd gksrk gSA
➢ pkyw [kkrs ds ?kkVs dks fuos'k ds vkf/kD; ls iwjk dj fn;k tkrk gSA
Hkqxrku lUrqyu dk ladV % ;fn dksbZ ns'k yEcs le; rd _.k ysdj vius Hkqxrku lUrqyu dks lUrqfyr j[krk gSA ftlls ml ij
_.k tky c<+ tkrk gSA mlds fons'kh eqnkz Hk.Mkj yxHkx lekIr gks tkrs gSA bl fLFkfr dks Hkqxrku lUrqyu dk ladV dgrs gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ orZeku esa Hkkjr Hkqxrku lUrqyu ladV dk lkeuk ugha dj jgk gS D;ksfa d Hkkjr ds ikl yxHkx 680 vjc MkWyj ds fons'kh
eqnzk Hk.Mkj gSA ysfdu 1991 bZ- esa o blls igys Hkkjr izk;% Hkqxrku lUrqyu dh fLFkfr esa jgrk FkkA
➢ orZeku esa vkfFkZd lq/kkjksa dh otg ls fLFkfr;k¡ lq/kjh gSA
eq[; fu;kZr %
1. [kfut rsy (including oils) : US $ 27.6 billion (10% Total expert)

2. ToSyjh] jRu o vkHkw"k.k $24.5 billion (8.9%)
3. QkeZL;qfVdYl $18.4 billion (6.7%)
4. e'khujh ¼dEI;qVjlfgr½ $18 billion (6.5%)
5. dkcZfud jlk;u $17.4 billion (6.3%)
6. bysfDVªdy e'khujh $13.5 billion (4.9%)
eq[; vk;kr %
1. ØqV vkW;y - 21.64%

2. xksYM - 5.95%
3. isVªksfy;e izsfMDV - 5.86%
4. dks;yk bR;kfn - 4.73%
5. eksrh o cgqewY; iRFkj - 4.73%
6. bysDVªkfud midj.k - 3.44%
7. Vsfydkse midj.k - 3%
8. dkcZfud jlk;u - 2.57%
9. bUMLVªh;y e'khujh - 2.52%
10. bysDVªhd e'khujh - 2.38%
Hkkjr }kjk fd;s tkus okyk fu;kZr%
1. USA - 17.5%
2. UAE - 9.21%
3. China - 5.3%
4. gkWxdkWx - 5.5%
5. flxkaiqj - 2.85%
Hkkjr }kjk fd;s tkus okyk vk;kr%
1. phu - 13.75%
2. USA - 7.55%
3. UAE - 6.38%
4. lkmnh vjc - 5.66%
5. bZjkd - 5%
6. Hong Kong - 3.57%
7. fLoVtjyS.M - 3.52%
vesfjdk Hkkjr dk lcls cM+k O;kikfjd Hkkxhnkj gSA
2nd – China, 3rd – UAE, 4th – Saudi Arab

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Hkkjr O;kikj [kkrs ij ?kkVs esa D;k jgrk gS\
1. gekjk cqfu;knh <kapk detksj gSA ekuo lalk/ku dh xq.koÙkk vPNh ugha gSA rFkk rduhdh :i ls fiNM+s gq, gSA bu dkj.kksa
ls ykxr dhers T;knk vkrh gS rFkk mRiknksa dh xq.koÙk vPNh ugha gksrh gSA blfy, Hkkjrh; mRikn vUrZjk"Vªh; cktkjksa esa
izfrLik/kkZ ugha dj ikrs gSA
2. gekjs fu;kZrksa esa fofo/krk ugha gSA tks ijEijkxr :i ls dj jgs fu;kZrksa rd lhehr gSA
3. gekjs fu;kZr cktkjksa esa fofo/krk ugha gSA
4. Hkkjr fdlh vPNs {ks=h; O;kikj le>kSrs dk Hkkxhnkj ugha gSA
5. vktknh ds ckn Hkkjr us dBksj vk;kr uhfr viukbZA dBksj vk;kr&uhfr ds dkj.k ?kjsyw cktkj esa izfrLi/kkZ ugha gqbZA ftlls
gekjs mRiknksa dh xq.koÙk esa lq/kkj ugha gqvkA ykxr dhers de ugha gqbZA vr% gekjs mRikn vUrZjk"Vªh; cktkj esa izfrLi/kkZ
ugh adj ldrsA
6. 1991 ds ckn ls geus mnkj O;kikj uhfr viukbZA
7. gekjs vf/kdka'k fu;kZr vk;krksa ij fuHkZj gSA blfy, fu;kZr c<+kus ij vk;kr Hkh vf/kd gks tkrs gSA vr% vf/kd ykHk ugha
gksrk gSA
8. gekjs ns'k esa dPps rsy dh miyC/krk de gSA blfy, bl ij gesa vk;kr ij fuHkZj jguk iM+rk gSA
9. lhus ds izfr Hkkjrh;ksa dk yxko vf/kd gSA vr% gekjk vk;kr fcy c<+ tkrk gSA
10. Hkkjr esa iwt
a hxr oLrqvksa dh ekax vf/kd gS ftudk gesa vk;kr djuk iM+rk gSA
11. gekjk Made in India czkaM vUrZjk"Vªh; cktkj esa yksdfiz; ugha gSA
12. gekjs {ks=h; czkUMksa dh vUrZjk"Vªh; Lrj ij igpku ugha gSA ¼yksdfiz; ugha½
BOP ladV ds dkj.k&

1. vYifodflr ns'k rduhfd :i ls fiNM+s gq;s gkrs gS] ftlls mRikn fd xq.koÙkk vPNh ugha gksrh gS] ftlls ykxr fdersa vf/kd
gksrh gS] bl dkj.k varjkZ"Vªh; cktkj esa og mRikn izfrLi/kkZ ugha dj ikrs gSA
2. fodkl'khy ns'k esa m|ksxksa dks fodflr djus ds fy, iwt a hxr oLrqvksa dk vk;kr djrs gS] ftlls Hkqxrku larqyu dk ladV
mRiUu gksrk gSA
3. fodflr ns'kksa esa vkfFkZd eanh ds le; vU; ns'k laj{k.koknh uhfr;ka viuk ysrs gSaA ftlls BOP ladV mRiUu gksrk gSA
4. ekSfnzd uhfr& eqnzk LQhfr ;fn vf/kd jgrh gS] rks fu;kZr de gksrs gS vkSj vk;kr vf/kd gkrs gS] ftlls O;kikj [kkrs ij ?kkVk
jgrk gS] tks BOP ladV mRiUu djrk gSA
5. jktdks"kh; uhfr& ;fn jktdks"kh; ?kkVk vf/kd gks tkrk gSa ftlls O;kikj ?kkVk c<rk gSaA blfy, bu nksuksa dks twin Deficit
dgrs gSA ftlls O;kikj ?kkVk BOP ladV mRiUu djrk gSA
6. fdlh ns'k fd vk;kr&fu;kZr uhfr vPNh ugha gS] vFkkZr~ fu;kZrksa dks izksRlkgu ugha fn;k tkrk gS rFkk vk;krksa dks fu;af=r djus
dh dksf'kdk ugha gksrh gS rks BOP ladV mRiUu gksrk gSA
izk;% fu;kZr ds izksRlkfgr djus ds fy, nks izdkj dh uhfr;ksa dk mi;ksx fd;k tkrk gSA
i. Growth Oriental Export : blesa mRiknu dks c<+kus ij cy fn;k tkrk gSA rFkk ;g ekuk tkrk gS fd mRiknu c<+x
s k rks Lor%
fu;kZr Hkh c<+sxkA
ii. Export Oriental Growth : blesa fu;kZrksa dks c<+kus esa ekuk tkrk gS fd fu;kZr c<+k;sxs rks mRiknu Lor% c<+ tk;sxkA
• vktknh ds ckn geus xzksFk vksfj;sUVsM ,DliksVZ dh uhfr viuk;hA blfy, u rks gekjs ns'k esa fu;kZr c<+s vkSj u gh mRiknu
c<+kA
• dkykUrj esa ;g ns[kk x;k fd ftu ns'kksa us fu;kZr vksfjUVsM xzksFk dh uhfr viuk;h] mudh xzksFk vkSj fu;kZr lkFk&lkFk c<+As
• 1991 bZ- ds vkfFkZd lq/kkjksa esa geus Hkh fu;kZr vk/kkfjr lo`f) dh uhfr dks viuk;k gSA
Hkkjr us fu;kZr c<+us ds fy, fuEu mik; fd;s gS&
• 1965 bZ- dkaMyk xqtjkr esa EPZ (Export Processing Zone) LFkkfir fd;k x;kA
• dkykUrj esa 6 vU; EPZ LFkkfir fd;s x;sA lu~ 2000 esa bu EPZ dks SEZ esa cny fn;k x;kA
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ EPIP (Export Premotion Industrial Park) LFkkfir fd;s x;s& dsUnz ljdkj dk igyk EPIP – uhejk.kk ¼vyoj½
➢ RIICO us lhrkiqjk ¼t;iqj½ o cksjkukMk ¼tks/kiqj½ esa LFkkfir fd;s gSaA
➢ 1981 bZ- Exports oriental units dh ekU;rk nh xbZ
• og bdkbZ tks vius 'kr&izfr'kr mRiknu dks fu;kZr djrh gSA mls EOU dk ntkZ fn;k tkrk gSA
• bls djks esa fo'ks"k fj;klrsa nh tkrh gSA tks fj;klrs SEZ esa LFkkfir bZdkbZ dks gksrh gS oks EOU dks Hkh nh xbZ gSA
➢ lu~ 2000 esa SEZ LFkkfir fd;s x;s&
• fo'ks"k Hkw&Hkkx ftls vkfFkZd n`f"V ls fons'kh {ks= dh rjg ekuk tkrk gSA
➢ lu~ 2001 esa ,xzks bdksuksfed tksu LFkkfir fd;s x;sA
• ;s d`f"k {ks= ds fy, LFkkfir fd;s tkrs gS d`f"k mRikn ds fu;kZr dks c<+kus ds fy,A
• Ikgyk AEZ & nkftZfyax LFkkfir fd;k x;k FkkA
• dkykUrj esa 46 ,xzks bdksuksfed tksu LFkkfir fd;s x;s FksA
• AEZ esa SEZ dh rjg gh lHkh fj;klrs miyC/k gksrh gSA
SEZ ds mís';
❖ fu;kZrksa dks izksRlkgu feysxkA
❖ ?kjsyw vkSj fons'kh fuos'k vkdf"kZr gksxkA
❖ jkstxkj mRiUu gksx a sA
❖ cqfu;knh <kaps dk fodkl gks ldsxkA
❖ vkfFkZd xfrfof/k;k¡ c<+x s hA ftlls GDP esa o`f) gksxhA
SEZ D;k gS\

✓ ;g ,d fo'ks"k HkkSxksfyd {ks= ftlls vkfFkZd xfrfof/k;ksa ds n`f"Vdks.k ls fons'kh {ks= ekuk tkrk gS rFkk bUgsa fo'ks"k lqfo/kk,a
miyC/k djok;h tkrh gSA
✓ ;gk¡ ij fo'oLrjh; vk/kkjHkwr <kapk miyC/k djok;k tkrk gSA
✓ vizR;{k djks esa iw.kZ NwV nh tkrh gSA
✓ izR;{k djks esa igys ikap o"kZ rd iw.kZ NwV rFkk vxys ikap o"kZ ds fy, 50% NwV nh x;hA
✓ i;kZoj.k ,oa Je lEcaf/kr fu;eksa esa NwV nh tkrh gSA
✓ ljdkj fdQk;rh njksa ij Hkwfe miyC/k djokrh gSA
nkf;Ro
✓ SEZ ls 100% fu;kZr fd;k tkuk pkfg,A
✓ ;fn ?kjsyw cktkj esa oLrq csph tkrh gS rc bu ij vk;kr 'kqYd yxk;k tk;sxkA
✓ ,dy mRikn SEZ ds fy, 50 gSDVs;j Hkwfe dh vko';drk gksrh gSA rFkk cgqmRikn ds fy, 500 gSDVs;j dh vko';drk
gksrh gSA
✓ tSo izkS|ksfxdh ds fy, U;wure lehk
✓ tSo izkS|ksfxdh rFkk lwpuk izkS|ksfxdh ds fy, SEZ us dksbZ U;wure lhek ugha dh xbZA
✓ dqy Hkwfe dh 25% Hkkx ij SEZ LFkkfir djuk vfuok;Z gSA
✓ ÅtkZ vko';drkvksa ds fy, SEZ vkRefuHkZj gksuk pkfg,A
SEZ dh vkykspuk,a
 fdlkuksa ls de nke ij Hkwfe dk vf/kxzg.k dj fy;k x;kA ¼mfpr eqvkotk ugha nsuk½
 foLFkkfirksa ds iquoZ kl dh O;oLFkk ugha dh xbZA
 flafpr Hkwfe d vf/kxzg.k ls [kk| lqj{kk dh leL;k mRiUu gks ldrh gSA
 dj vk; esa ljdkj dks gkfu gqbZA
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
 etnwjksa lacaf/kr fu;eksa dk ikyu ugha fd;k x;kA

 ftldk fojks/k etnwj ;wfu;u ds }kjk fd;k x;kA
 vf/kdrj ckj 25% Hkkj ij SEZ LFkkfir fd;k x;kA
 Hkkjr esa SEZ dks vis{kkd`r lQyrk ugha feyhA
D;ksfa d&
1. phu esa SEZ dh LFkkiuk canjxkgksa ds ikl dh xbZ ijUrq Hkkjr esa SEZ vkarfjd Hkkxksa esa LFkkfir fd;sA
2. SEZ ds ckgj vk/kkjHkwr <kapk l'kDr ugha FkkA
3. phu ds eqdkcys Hkkjr esa SEZ dk vkdkj NksVk gSA
4. dj vf/kdkfj;ksa ds }kjk SEZ ij --------- yxk;k x;k ftlls dj fu;eksa esa vfuf'prrk mRiUu gqbZA
5. 2007-08 esa fo'o esa vkfFkZd eanh vk x;hA
6. Hkkjr dh SEZ uhfr dks WTO esa pqukSrh nh xbZA
7. gky gh USA us Hkkjr dh SEZ uhfr dks WTO esa pqukSrh nh x;hA
8. o"kZ 2016-17 esa Hkkjr vius dwy fu;kZrksa dk 30% SEZ ls FkkA
(MEIS) Merchandise Export form India Scheme
(SEIS) Services Export from India Scheme
'kq: dh xbZ ftlesa oLrqvksa vkSj lsokvksa esa dj NwV nh x;hA
 MEIS esa yxHkx 8000 izdkj ds mRiknksa dks 'kkfey fd;k x;kA
 dj NwV M~;wVh ØsfMV LØsIl ds ekè; ls nh tkrh gS] ftldk iz;ksx Hkfo"; esa dj pqdkus ds fy, mi;ksx esa fy;k tk ldrk
gSA
Export Promotion Capital Goods Scheme: -
 bl ;kstuk ds rgr ,slh iwt a hxr oLrqvksa ds vk;r esa NwV nh tkrh gS tks Hkfo"; esa fu;kZr dks c<+kok feysAa
 og U;wure ewY; ftruk fu;kZr djuk vfuok;Z gSa oks fu;kZr nkf;Ro dgykrk gSA
 ;fn fu;kZr nkf;Ro 100% gS rks NwV dk N% xq.kkfu;kZr djuk vfuokZ; gksxkA
 orZeku esa fu;kZr nkf;Ro dks de djds 75% dj fn;k x;k gSA
Agro Economic Zone
 ;g d`f"k mRiknksa ds fu;kZr ds fy, dh xbZA
 o"kZ 2001 esa igyk AEZ nkft±fyx esa ikbusiy ds fy, LFkkfir fd;k x;kA
 dkykUrj 46 vU; AEZ LFkkfir fd;s x;sA bUgsa SEZ tSls lqfo/kk,sa nh tkrh gSA
fons'k O;kikj uhfr ¼2015&20½

✓ lu~ 2015 esa ?kksf"kr dh x;hA
✓ Directorate General of Foreign Trade ds }kjk tkjh dh tkrh gSaA okf.kT; o m+|ksx ea=ky; ds varxZr vkrk gSA
✓ lu~ 2020 rd fu;kZr dks nqxquk djuk vkSj 900 fcfy;u MkWyj rd ys tkuk gSA
✓ fo'o O;kikj esa gekjh fgLlsnkjh 3.5% djuhA
✓ MEIS o SEIS nks ;kstuk,sa 'kq: dh x;hA fu;kZrdksa dks izksRlkfgr djus ds fy,A
MEIS:
SEIS:
✓ MEIS o SEIS ds rgr tks djksa esa Duty Credit Scrip ds rgr NwV feysxhA
✓ Duty Credit Scrip dk iz;ksx vizR;[k djksa ds Hkqxrku ds fy, fd;k tk ldrk gSA
✓ Duty Credit Scrip dks gLrkUrj.kh; dj fn;k x;kA
✓ EPCG ;kstuk ds rgr fu;kZr nkf;Roksa dks 90% ls de djds 75% rd dj fn;k x;kA
✓ blds rgr Make in India, Skill India, Digital India dks Hkh bl ;kstuk ds rgr tksM+s x;sA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
✓ SEZ esa fLFkr bdkbZ;ksa dks mi;qZDr lHkh ykHk miyC/k djok;s x;sA
✓ 24×7 vkWuykbu vkosnu dh lqfo/kk miyC/k djok;h x;hA
✓ ;g ;kstuk 31 ekpZ 2020 rd FkhA blds ckn bls 31 ekpZ 2021 rd c<+k;k x;k rFkk bls iqu% flrEcj 2021 rd c<+k;k
x;k gSA
✓ EPCG = Export Promotion Capital Goods Scheme ds rgr ;fn fu;kZrd iwt a hxr oLrqvksa dk vk;kr djrs gSA rks
mUgsa vk;kr 'kqYd esa NwV nh tkrh gSaA blds cnys esa bUgsa vk;kr 'kqYd esa izkIr dh x;h NwV ds 6 xq.kk rd fu;kZr djus
gksrs gSaA fu;kZr 6 lky esa djuk gksrk gSA 6 xq.kk fu;kZr dks gh fu;kZr nkf;Ro dgrs gSA
MEIS = Merchandise Export form India Scheme

SEIS = Services Export from India Scheme
✓ ;g nksuksa ;kstuk,a 2015 esa fons'k O;kikj uhfr ds rgr 'kq: dh x;hA
✓ bu ;kstukvksa ds rgr oLrqvksa o lsokvksa dk fu;kZr djus ij fu;kZrdksa dks djksa esa NwV nh tkrh gSA
✓ MEIS ds rgr yxHkx 5000 oLrqvksa dk uksfVQkbZ dh x;hA ;g NwV Duty Credit Scrip ds rgr nh x;h gSA
Duty Credit Scrip
;g ,d izdkj dk izek.k i= gSA ftldk iz;ksx vizR;{k djksa ds Hkqxrku ds fy, fd;k tk ldrk gS rFkk ;g gLrkarj.kh;
gksrk gSA
fons'kh fuos'k
nks izdkj dk gksrk gSA
1. Foreign Direct Investment
I. Green Field Investment
II. Brown Field Investment
2. Foreign Portfolio Investment
I. Qualified Foreign Investor
II. Foreign Institutional Investor
1. Foreign Direct Investment ¼fons'kh izR;{k fuos'k½

;fn fdlh dEiuh esa fons'kh fuos'k dh lhek 10% ls vf/kd gS rFkk mlh vuqikr esa fuos'kdksa ds ikl izcU/k ds vf/kdkj gS rks
;g izR;[k fuos'k dh Js.kh esa vkrk gSA
I. Green Field FDI:- blds rgr u;k Plant LFkkfir fd;k tkrk gSA tSls & eflZfMt dk Plant, uhejk.kk = tkikuh ikdZ
esa
II. Brown Field Investment: igys ls LFkkfir dk vf/kxzg.k djukA
tSls& Flipkart dks Volmart us [kjhn fy;kA
Vodafone us Hutch dks [kjhn fy;k FkkA
Thums-up dks Coca-Cola us [kjhnkA
FDI ds ykHk
1. fons'kh fuos'k vkus ij vFkZO;oLFkk esa fuos'k c<+rk gS rks mRiknu Hkh c<+x
s k o jkstxkj esa c<+ksrjh gksxhA
vk; cpr
de de
jkstxkj fuos'k
de de

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
xjhch dk nq"izpkj
2. fons'kh fuos'kdksa ls gesa MkWyj dh izkfIr gksrh gSA ;g gekjs O;kikj [kkrs ds ?kkVs dks iwjk djus ds dke vkrs gS rFkk Hkqxrku
larqyu dks cuk;s j[kus esa lgk;d gSA
3. fons'kh fuos'kd vius lkFk rduhd izca/ku o foi.ku dkS'ky ykrs gSaA ftldk ykHk dkykUrj esa Hkkjrh;ksa dks Hkh gksr gSA
4. fons'kh fuos'kdksa ds dkj.k ?kjsyw cktkj esa izfrLi/kkZ c<+rh gS rFkk izfrLi/kkZ ds dkj.k mRiknksa dh xq.koÙkk esa lq/kkj gksrk gSA
rFkk ykxr dhersa de gksrh gSA ftlls miHkksDrkvksa dks ykHk gksrk gSa
➢ fons'kh fuos'k ls ge vk;kr izfrLFkkiu dh uhfr viukrs ldrs gSaA ftlls gekjs vk;kr de gksx a s rFkk fu;kZr vf/kd gksx
a sA
¼;fn Apple Com. Hkkjr esa mRiknu djsa rks gesa Apple ds iphone vk;kr ugha djus iM+x s sa o ge budks fu;kZr Hkh dj
ldrs gSA
➢ eqnzkLQhfr dks fu;af=r djus esa lgk;d gSA
➢ ;s #i;s dh fofue; nj dks fLFkj cuk;s j[kus ds izca/ku esa lgk;d gSA
FDI ds izfr vk'kadk,¡&

1. fons'kh dEifu;k¡ Hkkjr esa ykHk dek;sxh o vius ns'k ys tkrh gSA
2. ?kjsyw m|ksx fons'kh dEifu;ksa ls izfrLi/kkZ ugha dj ik;sx
a sA D;ksfa d ;s dEifu;k¡ ?kjsyw dEifu;ksa ls rduhd] izca/ku o foi.ku
esa vkxs gSaA ;s ?kjsyw dEifu;ksa dk vf/kxzg.k dj ysxhA
3. ;s dEifu;k¡ Hkkjr esa ik'pkR; laLd`fr dks izksRlkfgr djrh gSA ftlls lkaLd`frd izn"w k.k dks izksRlkgu nsrs gSA
➢ bu dEifu;ksa dk foÙkh; vk/kkj cM+k gksrk gSA vr% ;g gekjh ljdkj dh uhfr;ksa dks izHkkfor dj ldrs gSA
➢ dqN laosnu'khy {ks=ksa esa fons'kh fuos'k dh vuqefr ugha nh tk ldrhA tSls& j{kk] izsl] ftlls gekjh jk"Vªh; lqj{kk [krjsa esa
iM+ ldrh gSA
➢ fons'kh dEifu;k¡ VSDl pksjh (Avoidance) djsxhA
➢ fons'kh dEifu;k¡ miHkksDrk oLrqvksa ij fuos'k T;knk djrh gSA
Hkkjr esa vk'kkuq:i FDI ugha gksus ds dkj.k

1. gekjk cqfu;knh <kapk detksj gSA ekuo lalk/ku dh xq.koÙkk vPNh ugha gSA bl otg ls gekjk ICOR vf/kd jgrk gSA
(ICOR = ,d bdkbZ vfrfjDr mRiknu ds fy, vfrfjDr iwath½
2. vfLFkj vkfFkZd uhfr;k¡& gekjs ;gka ij ljdkj cnyus ij vkfFkZd uhfr;ka ifjofrZr gks tkrh gSA
3. ykyfQrk'kkgh& tfVy iz'kklfud izfØ;kA
4. Hkz"Vkpkj vf/kd gksukA
5. dBksj Je dkuwu gekjs Je dkuwu Jfedksa ds i{k esa vf/kd gSA
6. fons'kh dEifu;ksa dks l'kDr Hkkjrh; Hkkxhnkj ugha feyrs gSA
➢ fofHkUu {ks=ksa esa fons'kh fuos'k dh vuqefr ugha gS] ;k fons'kh fuos'k dh lhek fu/kkZfjr dj j[kh gSA
➢ LFkkuh; fojks/k
➢ Hkwfe vf/kxzg.k dh tfVy izfØ;k
➢ uDlyh leL;k
➢ dqN jkT;ksa esa dkuwu O;oLFkk vPNh ugha gS
➢ :i;s dh fofue; nj esa vfLFkjrkA
➢ vUrjkZ"Vªh; jsfVax ,tsfa l;ksa us Hkkjr dks vPNh jsfVax ugha nh gSA
Hkkjr esa fons'kh fuos'k dks c<+kus ds fy, fd;s x;s iz;kl
❖ cqfu;knh <kaps dks etcwr djus ds yxkrkj iz;kl fd;s tk jgs gSA
❖ ekuo lalk/ku dh xq.koÙkk dks lq/kkj ds fy, Skill India Programme pyk;k tk jgk gSA
❖ fons'kh fuos'kdksa dks vkdf"kZr djus ds fy, Make in India programme Start fd;k x;kA
❖ 1991 esa geus vkfFkZd lq/kkjksa dks ykxw fd;k vkSj blds rgr geus] mnkjhdj.k] futhdj.k o oS'ohdj.k dks izksRlkfgr fd;kA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
❖ iz'kklfud izfØ;k dks ljy fd;k x;k gSA blfy, ^^bZt vkWQ Mwbax fctusl ds bMsDl** esa 190 ns'kksa esa ls 63 oha jSad gks
x;h gSA
❖ 10 ekudksa ds vk/kkj ij ;g x.kuk dh tkrh gSA 2015 = 142 190
1. Starting of Business 2018 = 77 190
2. Getting construction ¼fuekZ.k dh vuqefr izkIr djuk½ 2021 = 63 190
3. Getting electricity Connection ¼fctyh½
1. U;wthyS.M
4. lEifÙk dk iathdj.k djkukA
2. flaxkiqj
5. Paying taxes ¼VSDl pqdkuk½ 3. gkWxdksx
a
6. Trade across Border ¼lhek ikj O;kikj 4. phu
7. Getting Credit ¼lk[k@_.k ysuk@izkIr djuk½ 5. MsuekdZ
8. Protect Minority ¼vYila[;dksa 'ks;j/kkjdksa dks dh j{kk½
9. Enforcing Contract ¼lafonkvksa dks ykxw djuk½
10. Resolving Insolvency ¼fnokfy;kiu dk lek/kku½
❖ 90% ls vf/kd FDI dks Auto Matic Rute ls vkrk gSA
❖ FIPB dks vc lekIr dj fn;k x;k gSA ftl fuos'k ds fy, FIPB dh vuqefr vko';d gksrh FkhA mUgsa Automatic Rate
ds rgr dj fn;k gSA
❖ vc dsoy vR;f/kd laosnu'khy ekeyks@ a {ks= esa gh vkfFkZd ekeyksa dh dSfcusV lfefr ls vuqefr ysuh gksrh gSA
❖ FERA ds LFkku ij FEMA dks ykxw fd;k x;k gSA
❖ ljdkj us vusd {ks=ksa esa fons'kh fuos'k dh lhek dks c<+k;k gSaA tSls& [kqnjk {ks= esa] fjVsy {ks= esa 51% rd fons'kh fuos'k
dh vuqefr gSA
❖ j{kk {ks= esa 100%
❖ ,;jiksVZ fuekZ.k esa 100%
❖ Food Processing esa 100%
❖ chek {ks= esa 49%
FERA 1973 :- Foreign Exchange Regulation Act 1973

FEMA 1999 - Foreign Exchange Management Act 1999
FERA 1973 FEMA 1999
❖ blds vUrxZr vijkf/kd eqdnek ntZ fd;k tkrk FkkA ❖ bl esa flfoy dsl ntZ fd;k tkrk gSA
❖ blesa fxj¶rkj dk izko/kku Fkk ❖ blesa lkekU; fLFkfr esa fxj¶rkj djus dk izko/kku ugha
gSA
❖ blds rgr 5 xq.kk tqekZuk o 3 lky ltk dk izko/kku ❖ blesa tsy dh ltk dk izko/kku ugha gSA vf/kdre 3 xq.kk
FkkA dk tqekZuk yxk;k tk ldrk FkkA
❖ vkjksih O;fDr dks mÙkjnkf;Ro gksrk Fkk fd og Lo;a funksZ"k ❖ blesa tkap ,tsl
a h dk mÙkjnkf;Ro gSa fd og vkjksi fl)
lkfcr djsaA ¼tkap ,tsUlh dks mÙkjnkf;Ro ugha gksrk FkkA½ djsaA
❖ FERA vR;f/kd dBksj dkuwu FkkA ftlls fons'kh fuos'kd ❖ ;g vR;f/kd dBksj dkuwu ugha gSA
vR;f/kd gLrksRlkfgr gksrk FkkA ❖ FEMA Act dks ED ¼izorZd funs'kky;½ ykxw djokrk gSA
2. FPI (Foreign Portfolio Investment)

;fn fons'kh fuos'k dh lhek 10% rd gksrh gS rFkk fuos'kdksa dks izca/ku ds vf/kdkj ugha gksrs FksA bls FPI dgrs gSA vFkkZr~ fons'kh
fuos'kdksa ds }kjk Share Market esa fd;k x;k fuos'kA
;g nks rjg dk gksrk gSA
1. QFI = Qualified Foreign Investor
2. FII = Foreign Institutional Investor

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
1. QFI :- fons'kh ukxfjd O;fDrxr :i ls Hkkjr ds 'ks;j cktkj esa fuos'k djrs gSA
2. FII :- fons'kh laLFkkxrfuos'kd tSls & fons'kh Q.M E;wlqvy ospj Q.M gSt Q.M] is'a ku Q.M vkfn ds }kjk Hkkjrh; 'ks;j
cktkj esa fuos'k djrs gSA
FPI ds ykHk%&
1. fons'kh fuos'kd vius lkFk MkWyj ykrs gSa] tks fd gekjs Hkqxrku larqyu dks cuk;s j[kus esa lgk;d gSA
2. Hkkjr esa iwt
a h cktkj ds fodkl dks izksRlkfgr djrs gSa vkSj ?kjsyw fuos'kdksa dks Hkh ykHk gksrk gS rFkk dEifu;ksa ds fy, iwt
a h
laxzfgr djus esa vklkuh jgrh gSA
3. Hkkjrh; vFkZO;oLFkk dk fo'o vFkZO;oLFkk ds lkFk tqM+kok c<+sxkA
4. Hkkjrh; 'ks;j cktkj esa rkfdZd lV~Vc
s kth dks izksRlkgu nsrs gSA
FDI dh
dfe;k¡
❖ ;g vLFkk;h izd`fr dk gSa blfy, dHkh Hkh NksVk vkfFkZd ladV mRiUu gksus ij ;g iyk;u dj ldrs gSa vkSj cM+s vkfFkZd
ladV dks tUe ns ldrs gS blfy, FDI dks gkWV euh dgrs gSA
❖ budh otg ls Share Market esa mrkj&p<+ko vf/kd vkrs gSA
❖ ;g nh?kZdkfyd fuos'kd ugha gksrs gSa] ;g lV~Vsckt gksrs gS blfy, lV~Vsckth dks c<+kok nsrs gSA
FDI o FPI esa rqyuk

FPI FDI
❖ vYidkfyd gksrs gSA ;g iyk;u dj ldrs ❖ nh?kZdkfyd gksrs gSA ;g tYnh ls iyk;u ugha dj
gSA ldrsA
❖ ;s 'ks;j cktkj esa fuos'k djrs gSA ❖ ;g okLrfod O;olk; esa fuos'k djrs gSA
❖ ;s u;h rduhd ugha ykrs gSA ❖ ;g vius lkFk rduhd] izca/ku o foi.ku ykrs gSA
❖ ;g izR;{k jkstxkj dks l`ftr ugha djrs gSA ❖ izR;{k :i ls jkstxkj l`ftr djrs gSA mRiknu esa
mRiknu esa o`f) ugha dj ikrsA o`f) djrs gSA
Automatic Route: -
❖ blds vUrxZr fuos'kdksa dks fuos'k ds fy, ljdkj ls iwokZuqefr ysus dh vko';drk ugha gksrh gSaA os fcuk vuqefr fy;s gh
Hkkjr esa fuos'k dj ldrs gSa ysfdu fuos'k dh izfØ;k vkjEHk djus ds ckn 45 fnu ds Hkhrj RBI dks lwfpr djuk vko';d
gSaA
❖ pwfa d RBI dk eq[;ky; eqEcbZ gSa blfy, bls (Bombay) ckWEcs :V Hkh dgrs gSaA orZeku esa vf/kdka'kr fuos'k beh :V ls
vkrk gSA
Approval Route:
❖ blds vUrZxr jk"Vªh; lqj{kk ls tqM+s gq;s eqís rFkk laosn'khu {ks=ksa dks j[kk tkrk gSA ftuesa fcuk vuqefr ds fuos'k ugha fd;k
tk ldrk gS blfy, iwokZuqefr dk izko/kku j[kk x;kA
❖ bu {ks=ksa esa fuos'k djus ds fy, vkfFkZd ekeyksa dh dSfcusV lfefr ls vuqefr ysuh vko';d gSA
❖ iwoZ esa ;g ijfe'ku FIPB ls ysuk gksrk FkkA
FIPB
❖ ;g izfØ;k tfVy Fkha blfy, fons'kh fuos'kd grkslkfgr gksrs FksA vr% FIPB dks lekIr fd;k x;kA
❖ ;g lfefr fnYyh esa cSBrh gS rFkk FIPB dk eq[;ky; Hkh fnYyh esa Fkk blfy, bls fnYyh :V Hkh dgrs gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
fofue; nj (Exchange Rate)

❖ og nj ftl ij ?kjsyw eqnzk dks fons'kh eqnzk esa rFkk fons'kh eqnzk dks ?kjsyw eqnzk esa ifjofrZr@fofue; fd;k tkrk gSA mls
fofue; nj dgrs gSA
Ex. 1$ = 74 #
eq[;r fofue; nj nks izdkj dh gksrh gSA
Fixed Rate Floating Rate

Pegged Rate
Pegged Rate Crawling Pegged Pegged within a Fully Floating Rate Market Determined
Rate Band Rate
(Crawling Band)
1. Pegged Rate:- ;fn ljdkj ds }kjk viuh eqnzk dh fons'kh eqnzk ds lkFk fofue; dh nj fuf'pr dj nh tkrh gSA ftlesa
lkekU;r% dksbZ ifjorZu ugha fd;k tkrk gSA
tSls & edkÅ] cjeqM+k] gksx
a dksx
a ] ckgjekl etc.
2. Crawling Pegged Rate: - bl esa fofue; nj ljdkj ds }kjk fQDl dj nh tkrh gSA ysfdu le;≤ ij cktkj dh
vko';drkvksa ds vuqlkj blesa cnyko Hkh fd;k tkrk gSA
3. Pagged Within a Band (Crawling Band):- bl esa ljdkj ds }kjk fofue; nj dh ,d fQDl Band ¼ijkl½ fu/kkZfjr
dj nh tkrh gSA vFkkZr~ vf/kdre ,oa U;wure lhek fu/kkZfjr dj nh tkrh gSA
tSls& MkWyj dh jsV 70 #-& 80#- ds chp fu/kkZfjr dj nsukA
4. Fully Floating Rate: - ;fn fofu;e nj cktkj ds }kjk fu/kkZfjr dh tkrh gSA vFkkZr~ fofue; nj ekax ,oa vkiwfrZ ds vk/kkj
ij fu/kkZfjr gksrh gS] ftlesa ljdkj dk dksbZ Hkh gLr{ksi ugha djrh gSA
❖ ;g vkn'kZ fLFkfr gSaA D;ksfa d lkekU;r% ns'k cktkj esa vius fu;kZr c<+kus ds fy, o vk;kr de djus ds fy, ljdkj
gLr{ksi djrh gSA
❖ lkekU;r% fodflr ns'k cktkj esa gLr{ksi ugha djrsA
5. Market determined Rate: - blesa fofu;e nj cktkj ds }kjk fu/kkZfjr fd;k tkrk gSA ysfdu dsUnzh; cSad cktkj esa
gLr{ksi djds fofue; nj dks izHkkfor djus dh dksf'k'k djrh gSA
tSls & #- vf/kd etcwr gksrk gS rks RBI MkWyj [kjhnsxh vkSj ;fn #- detksj gksrk gSa rks RBI MkWyj dh vkiwfrZ c<+k nsrh
gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
vkiwfrZ
fons'kh ?kjsyw
fuos'kd fuos'kd
fons'kh # dh Hkkjrh;
ekax@$
i;ZVd dh ekax i;ZVd
Remi
ttanc vk;krd
e etc.
ekax
❖ cktkj esa MkWyj dh ekax vf/kd gS rks MkWyj etcwr gksxk rFkk #- detksj gksxkA
❖ cktkj esa MkWyj dh vkiwfrZ vf/kd gS rks MkWyj detksj gksxk rFkk #- etcwr gksxkA
❖ bl izdkj fofue; nj cktkj }kjk fu/kkZfjr djrh gSA
• ;fn #i;k detksj gksrk gS&
1. gekjs fu;kZr fons'kh cktkj esa lLrs gksx
a s blfy, fu;kZr vf/kd gksaxsA ¼fu;kZrdksa dk ykHk½
2. vk;kr eagxs gks tk;sx a sA de fcdsx
a s & vk;kr de gksxa sA
• 1991 bZ- ls igys #i;s dh ifjorZuh;rk ij vusd izfrcU/k FksA
• IMF ds ncko ds dkj.k 1993 bZ- esa O;kikj [kkrs ij #i;s dh ifjorZuh;rk dks viuk fy;kA
• 1994 bZ- esa v–'; enksa ij #i;s dks iw.kZ :i ls ifjorZuh; cuk fn;k x;kA
• ;|fi bl ij vc Hkh dqN lhek,sa gSaA tSlk fd &
▪ i;ZVu ds mís'; ls ,d O;fä ,d o"kZ esa 10,000 MkWyj ys tk ldrk gSA
▪ f'k{kk ds fy, ,oa fpfdRlk o LokLF; ds fy, 1,00,000 MkWyj izfr O;fä] izfr o"kZ ys tk ldrk gSA
▪ iqjLdkj nsus ;k LiksV~Zl ;k lkaLÑfrd xfrfof/k;k¡ vkfn dks djus ds fy, foÙk ea=ky; ls vkKk ysuh iM+rh FkhA
• 1994 esa iw¡th [kkrs ij #i;s dks ifjorZuh; cukuk vkjEHk fd;k rFkk iw¡th Øfed :i ls iw¡th [kkrs ij #i;s dks
ifjorZuh; cuk;k tk jgk gS ysfdu vc Hkh iw¡th [kkrs ij #i;s iwjh rjg ls ifjorZuh; ugha gSA
• orZeku esa #i;s dh iwoZ ifjorZuh;rk ls rkRi;Z gS fd iw¡th [kkrs ij #i;s dks iw.kZ ifjorZuh; cukukA
iw¡th [kkrs ij #i;s dh ifjorZuh;rk
• blesa fons'kh fuos'kdksa dks Hkkjr esa fuos'k djus ds ekeys esa Hkkjr dh uhfr mnkj gSA vuds {ks=ksa esa fons'k fuos'k dh
vuqefr nh xbZ gSA
tSls& ,fo,'ku esa 100% ifjorZuh;rk FDI
fMQsl a esa 100% FDI
Food Processing esa 100% FDI dh vuqefr vkfnA
• ysfdu vc Hkh dqN {ks=ksa esa fons'kh fuos'k dh vuqefr ugha gS ;k fons'kh fuos'k dh lhek fu/kkZfjr dj j[kh gSA
• tgk¡ rd fons'kh fuos'k ds cká izokg dh ckr gS] blesa Hkkjr dh uhfr FkksMh+ dBksj gSA
• cká izokg ds ekeys esa fuEufyf[kr izdkj dh fj;k;r nh xbZ gS&
➢ dksbZ Hkh dEiuh viuh usVoFkZ ds 400% rd fons'k esa fuos'k dj ldrh gSA
➢ Mutual Fund ;k laLFkkxr fuos'kd 7 vjc MkWyj rd fons'k esa fuos'k dj ldrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ O;fäxr :i ls Hkkjrh; O;fä 2.50 yk[k MkWyj rd fons'k esa fuos'k dj ldrk gSA
• #i;s dh iw.kZ ifjorZuh;rk dks viukus ds fy, 1997 bZ- esa ,l-,l- rkjkiksj lfefr dk xBu fd;k x;kA bl lfefr
ds lq>ko Fkk fd&
• 2 o"kZ esa Hkkjr dks iw.kZ ifjorZuh;rk viuk ysuh pkfg,A
• ysfdu lfefr us blds fy, vusd 'krZsa j[khaA
• 1997-98 esa nf{k.k&iwohZ ,f'k;kbZ ns'kksa esa vkfFkZd ladV vk x;k vkSj iw¡th iyk;u dh leL;k mRié gks xbZ] ftlls
;g ladV vkSj c<+ x;kA
• bu ns'kksa us iw.kZ ifjorZuh;rk dks viuk j[kk FkkA blfy, Hkkjr us ml le; iw.kZ ifjorZu;rk dks ugha viuk;kA
• 2006 bZ- esa ,l-,l- rkjkiksj lfefr cuk;h x;hA
rkjkiksj lfefr 2 & blds vuqlkj %&
• vkn'kZ :i esa iw.kZ ifjorZuh;rk lEHko ugha gSA dqN izfrca/k jgus pkfg,A
• 2011 rd rhu pj.kksa esa iw.kZ ifjorZuh;rk dks viuk;k tkuk pkfg,A ysfdu blds fy, fuEufyf[kr 'krZsa gksuh
pkfg,&
➢ jktdks"kh; ?kkVk & 2% gksuk pkfg,A Current Account ij ?kkVk fu;af=r gksuk pkfg,A
➢ eagxkbZ nj & 4% rd jguh pkfg,A
➢ _.k lsok vuqikr (Debt Service Ratio) & 20% gksuk pkfg,A
GDP : iqjkus@fons'k _.kksa ds Hkqxrku@ewy/ku $ C;kt ij fd;k x;k O;;A
• cSafdax {ks= dk vk/kqfudhdj.k o l'kä djukA
• cSadksa dk NPA 5% ¼ljdkjh - 12%, futh – 9%½ gksuk pkfg,A
#i;s dh iw.kZ ifjorZuh;rk ds ykHk

• fons'kh fuos'k ls feyus okys lHkh ykHk &
• blls vFkZO;oLFkk esa fuos'k c<+rk gS] ftlls jkstxkj ,oa mRiknu esa o`f) gksrh gSA
• fons'kh eqnzk izkIr gksrh gS ftlls fons'kh eqnzk Hk.Mkj c<+rk gSA
• Hkqxrku larqyu esa ladV ugha vkrk gSA
• fons'kh fuos'k ls ?kjsyw cktkj esa izfrLi/kkZ c<+rh gS] ftlls oLrqr ,oa lsokvksa dh xq.koÙkk esa o`f) gksrh gSA
• fons'kh fuos'kd vius lkFk rduhd] izca/ku rFkk foi.ku dkS'ky ysdj vkrk gSA
• ljdkj dh dj jktLo esa o`f) gksxhA
• iw.kZ ifjorZuh;rk ls vk;kr izfrLFkkiu dh uhfr dks viuk;k tk ldrk gSA vk;krksa dk mRiknu ?kjsyw cktkj esa fd;k
tk ldrk gSA lEHko gS bu mRiknksa dk fu;kZr Hkh fd;k tk ldrk gSA
• fofue; nj dk izca/ku vklku gksxkA
iw.kZ ifjorZuh;rk viukus dh vk'kadk,s&

a
• iw¡th iyk;u dh leL;k gks ldrh gSA tSlk fd 90 ds n'kd esa nf{k.k&iwohZ ,f'k;kbZ ns'kksa esa gqvk FkkA
• ;fn fons'kh eqnzk dk vf/kd vUrZizokg gksrk gS] rks ?kjsyw eqnzk vR;f/kd etcwr gks tkrh gSA ?kjsyw eqnzk ds etcwr gksus
ls fu;kZr eakxs gksrs gSa rFkk vk;kr lLrs gks tkrs gSa] ftlls fu;kZr de gksaxs ftlls vk;kr vf/kd gksx a sA gekjs ?kjsyw
m|ksx egaxs gks tk;sx a sA bl fLFkfr dks Mp fMtht dgrs gSaA uhnjySaM esa 1970 esa ;g fLFkfr mRié gqbZ FkhA
• Hkkjrh; vFkZO;oLFkk dk fo'o vFkZO;oLFkk ls tqM+ko vR;f/kd gks tk;sxkA vr% Hkkjrh; vFkZO;oLFkk vR;f/kd
laons u'khy gks tk;sxh vkSj ogka ij vkfFkZd ladV mRié gks ldrk gsA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• vU; ns'kksa esa ;fn vkfFkZd ladV vkrk gS rks gekjh vFkZO;oLFkk Hkh izHkkfor gksxhA vFkZO;oLFkk esa mrkj&p<+ko vf/kd
gks tk;sxkA
• RBI dh ekSfnzd uhfr vR;f/kd izHkkoh ugha jgsxhA
fons'kh eqnzk Hk.Mkj

• fons'kh eqnzk Hk.Mkj dk izcU/ku dk;Z RBI djrh gSA
• orZeku esa vkj-ch-vkbZ- ds ikl 612 vjc MkWyj ds yxHkx fons'kh eqnzk Hk.Mkj gSA
• fons'kh eqnzk Hk.Mkj esa lksuk] fons'kh lEifÙk ¼MkWyj] ;wjks] ;wvku vkfn½ fjtoZ Vªl
sa ¼IMF ds ikl tek½ SDR vkfn gksrs
gSaA
• fons'kh lEifÙk & MkWyj] ;wjks] ;wvku vkfnA
fons'kh eqnzk Hk.Mkj dk egRo

• varjkZ"Vªh; Lrj ij vFkZO;oLFkk dh lk[k curh gSA
• mnkj vk;kr uhfr viuk ldrk gSA
• _.kksa dk Hkqxrku le; ij fd;k tk ldrk gSA
• fons'kh fuos'kd vkdf"kZr gksrs gSaA
• #i;s dh iw.kZ ifjorZuh;rk dks viuk ldrs gSaA
• vkØked vkfFkZd uhfr;k¡ viuk ldrs gSaA
• vU; ns'kksa dks _.k ,oa vuqnku ns ldrs gSaA
fons'kh eqnzk Hk.Mkj dh i;kZIrrk
• fons'kh eqnzk Hk.Mkj dh i;kZIrrk dks lqfuf'pr ugha fd;k tk ldrk gSA
• vyx&vyx ns'kksa ds fy, bldh i;kZIrrk vyx&vyx gks ldrh gSA tSls& fodflr ns'kksa dks fons'kh eqnzk Hk.Mkj
dh t:jr ugha gksrh gS] D;ksafd mudh Lo;a dh eqnzk gkMZ ¼dBksj eqnzk½ djalh gSA
• fodkl'khy o vYifodflr ns'kksa dks fons'kh eqnzk Hk.Mkj j[kus gksrs gSaA mlesa Hkh ns'k dh vkfFkZd fLFkfr ij fuHkZj
djrk gSA blds ckotwn rhu eghus ds vk;kr ds fcy ds cjkcj fons'kh eqnzk Hk.Mkj gksuk pkfg,A
• 12 eghus ds pkyw [kkrs ds ?kkVs dks iwjk dj ldrs gSaA
vUrjkZ"Vªh; laxBu
World Bank I.M.F. W.T.O.

• czsVuoqM dkaÝl
sa 1944 bZ- & vesfjdk ds czsVuoqM 'kgj esa ,d lEesyu gqvkA
• lEesyu dk mís'; & nwljs fo'o ;q) ds ckn fofHké ns'kksa ds e/; vkfFkZd lg;ksx dks c<+kukA rkfd izFke fo'o;q+)
ds ckn 1929 bZ- esa vk;h eanh tSlh fLFkfr fLFkfr dk nksgjko uk gksA
• bl lEesyu esa rhu laxBu LFkkfir djus dk QSlyk fd;k x;kA
➢ fo'o cSad
➢ I.M.F.
➢ I.T.O.
• I.T.O. LFkkfir ugha gks ldkA
• fo'o cSad o IMF nksuksa dks czsVuoqM V~ohUl dgrs gSaA
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• fo'o cSad o IMF ;w-,u-vks- dh lgk;d laLFkk gSaA

• nksuksa dk eq[;ky; okWf'kaxVu Mh-lh- esa gSA
fo'o cSad lewg
IBRD IDA IFC MIGA ICSID
lkewfgd :i ls
fo'o cSad dgrs gSaA
• IBRD – International Bank Of Re-construction and Development.

• LFkkiuk & 1944 bZ- esa czsVuoqM lEesyu esa dh xbZA
eq[;ky; & okWf'kaxVu Mh-lh-
lnL; ns'k & 189 ns'k
• tks ns'k IMF dk lnL; cu tkrk gS] og Lor% gh fo'o cSad dk lnL; cu tk;sxkA
• blds izeq[k dks president/v/;{k dgrs gSaA orZeku esa blds v/;{k MsfoM ekycl gSaA
• fo'o cSad ,d dEiuh gSA blesa fofHké lnL; ns'kksa ds 'ks;j gksrs gSaA
• blds vf/kdka'k 'ks;j ;w-,l-,- ds ikl gSaA blfy, bldk v/;{k lkekU;r% ,d vesfjdh ukxfjd gksrk gSA
• IBRD esa lnL;ksa ns'kksa dks ernku dk vf/kdkj mudh 'ks;j gksfYMax {kerk ds vuqlkj feyrk gSA
fo'o cSad ds dk;Z
• ;g iquZfuekZ.k o fodkl ds fy, nh?kZdkfyd _.k miyC/k djokrk gSA

• ;g HkkSfrd o lkekftd cqfu;knh <k¡ps ds fy, _.k miyC/k djokrk gSA
• ekuo lalk/ku ds fodkl ds fy, ;g xjhch mUewyu] [kk| lqj{kk] efgyk l'kfädj.k] LokLF; lsok,sa vkfn ds fy,
/ku miyC/k djokrk gSA
• ;s lrr~ fodkl ds fy, fuos'k o jkstxkj l`tu gsrq /ku miyC/k djokrk gSA
• fofHké ns'kksa ds chp vkilh lg;ksx dks c<+kok nsukA
• lnL; ns'kksa dks vkfFkZd lq/kkjksa ds fy, izsfjr djukA
• lnL; ns'kksa ds vkfFkZd lykgdkj dh Hkwfedk Hkh fuHkkrk gSA
• fo'o vFkZO;oLFkk dh leh{kk djrk gS rFkk lq>ko nsrk gSA
vUrjkZ"Vªh; fodkl laxBu

• LFkkiuk & 1960 bZ-A
• ;g fo'o cSad dk gh Hkkx gSA
• fodkl'khy rFkk vYifodflr ns'kksa dks nh?kZdkfyd _.k miyC/k djokukA
• _.k dk ,d Hkkx vuqnku ds :i esa gh gksrk gS rFkk bldh C;kt nj de gksrh gSA
• ¼mnkj _.k dh f[kM+dhA½

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
vUrjkZ"Vªh; foÙk fuxe

• bldh LFkkiuk 1956 bZ- esa gqbZ FkhA
• ;g IBRD ls ,d Lok;Ùk laLFkk ¼tks vius fu.kZ; Lora=rk ls ysrh gS½ gSA
• lnL; ns'kksa esa futh {ks= dks foÙkh; lgk;rk nsrk gSA
• ;g futh {ks= dks rduhdh o vkfFkZd lykg Hkh miyC/k djokrk gSA
• 2009 ls ;g Ñf"k] LokLF;] f'k{kk] lw{e foÙkh;u bR;kfn ds fy, Hkh _.k miyC/k djokrk gSA
MIGA – Multi-letral Investment Guarantee Agency

• LFkkiuk & 1988 bZ-
• mís'; & jktuhfrd vfLFkjrk ls xzflr ns'kksa esa fuos'k dks izkRs lkfgr djukA
• ;g fuos'kdksa dks jktuhfrd tksf[kr ds fo#) xkj.Vh@chek nsrk gsA
• vÝhdh ns'k jktuhfrd vfLFkjrk ls xzflr gSaA
ICSID – International Center for Settlement of Investment Disputes

• mís'; & fuos'k ls lEcfU/kr fookn lqy>kukA
• Hkkjr bldk lnL; ugha gSA
IMF -International Monitory Fund

• eq[;ky; & okWf'kaxVu Mh-lh-
• lnL; ns'k & 190 vfUre ns'k (Andora) 2020-190ok¡
• eSusftax Mk;jsDVj & fØLVkfyuk tkWftok ¼cqYxkfj;k½
• eq[; vkfFkZd lykgdkj & xhrk xksihukFk ¼orZeku esa ;w-,l-,- ukxfjd½
• bldk izeq[k lkekU;r% ;wjksfi;u gksrk gSA
eq[; dk;Z
• vUrjkZ"Vªh; ekSfnzd lg;ksx dks c<+kok nsukA vFkkZr~ vUrjkZ"Vªh; Hkqxrkuksa dks vklku cukukA
• vUrjkZ"Vªh; Hkqxrkuksa dks vklku cukukA
• vUrjkZ"Vªh; O;kikj dks c<+kok nsukA
• tks ns'k Hkqxrku larqyu ds ladV dk lkeuk dj jgs gksr gSa] mugsa vYidkfyd _.k miyC/k djokrk gSA
• tSls 1993 esa Hkkjr BOP ladV dk lkeuk dj jgk Fkk rks IMF esa _.k fn;k FkkA
• fofue; nj dh fLFkjrk dks cuk;s j[krk gSA
• voewY;u dh izfrLi/kkZ dks de djrk gSA
• fofHké ns'kksa dks izsfjr djrk gS fd og Market-Determined Exchange Rate dks viuk;sAa

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• ;g fo'o vFkZO;oLFkk ij utj cuk;s j[kus ds fy, rhu fjiksVZ tkjh djrk gSA
➢ World Economic Out look
➢ Global Financial Stability Report
➢ Fiscal Monitor
IMF dk laxBu
Board of Governor
• ;g IMF dh 'kh"kZ laLFkk gSA IMF ds lHkh uhfrxr@egRoiw.kZ fu.kZ; ;gh ysrh gSA
tSls & fdlh ns'k dks lnL;rk nsuk ;k lekIr djukA
dksVk flLVe esa lq/kkj djukA
IMF dk Managing Director (MD) fu;qä djukA
• Board of Governor esa lHkh lnL; ns'k ,d&,d xoZuj fu;qä djrs gSa] tks izk;% ml ns'k dk foÙk ea=h gksrk gSA
• Hkkjr ds foÙk ea=h Board of Governor dk lnL; gksrk gS ysfdu izk;% RBI Governor Board of Governor esa
Hkkx ysrk gSA
• Board of Governor ds lHkh ns'kksa ds erkf/kdkj leku ugha gksrs gSaA ftl lnL; ns'k dk dksVk vf/kd gksrk gS] ml
ns'k dk erkf/kdkj Hkh vf/kd gksrk gSA
• blesa lokZf/kd erkf/kdkj & ;w-,l-,- (16%), tkiku (6%), phu (6%), teZuh] Ýkal] fczVus ] bVyh] Hkkjr (2.6%),
:l] czkthyA
Executive Board
• blds lnL; dk;Zdkjh funs'kd dgykrs gSaA
• dk;Zdkjh funZs'kd – 24
• Hkkjr dh rjQ ls dk;Zdkjh funZs'kd lqjthr HkYyk gSaA
• dk;Zdkjh funZs'kd dk pquko@fuokZpu 24 fuokZpd e.My ls fd;k tkrk gSA
• lnL; ns'kksa dks _.k nsus ls lEcfU/kr fu.kZ; ysrs gSaA
Managing Director
• vUrjkZ"Vªh; eapksa ij IMF dk izfrfuf/kRo djrk gS rFkk IMF ds nSfud dk;kZsa dk lapkyu djrk gSA
Quota System
• IMF esa lHkh lnL; ns'kksa dks Quota vkcafVr fd;k tkrk gSA
• Quota System pkj izdkj ls vkcafVr fd;k tkrk gSA
1. GDP (50%)
2. Openness of Economy (30%)
3. Variability of Economy (15%)
4. Forex Reserve (5%)
GDP (50%) – 1. GDP Exchange Rate 2. GDP (Purchasing Power Parity)

• lnL; ns'kksa dks Quota ds vk/kkj ij erkf/kdkj fn;k tkrk gSA

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Economy

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SPRINGBOARD ACADEMY 1

• Hkkjr ,d fefJr vFkZO;oLFkk gSA

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

fodkl dh fLFkfr ds vk/kkj ij vFkZO;oLFkk fuEu izdkj dh gksrh gS &

ekax > vkiwfrZ ekax < vkiwfrZ

eagxkbZ (Inflation) vofLQfr (Deflation)

ekSfnzd uhfr jktdks"kh; uhfr

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

Reserve Bank of India

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

Hkkjrh; efgyk cSad

Regional Rural Bank

lgdkjh cSad okf.kfT;d cSad

115 djksM lksuk 85 djksM dh vU; ifjlEifr

o Ckktkj dh rjyrk dks fu;af=r djukA

Ekk=kRed mik; Xkq.kkRed mik;

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

,e-,l-,Q (Marginal Standing Facility)

▪ ;s lqfo/kk vkjchvkbZ us 2011 bZ- esa vkjEHk dh A

[kqys cktkj dh fØ;k (Open Market Operations)

nh?kZdkfyd jsiks vkWijs’ku

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

• d`f"k ih-,l-,y izek.k i= %

• bldh LFkkiuk 1930 esa gqbZ Fkh

• csly izFke & 1988 bZ-

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

dkWy euh ekdsZV (Call Money Market)

mftZr IkVsy desVh

ekSfnzd uhfr lfefr

▪ xouZj ¼v/;{k½ ] mi xouZj ] dk;Zdkjh funs’kd

ujflEgu lfefr izFke 1991 bZ-

ujflEgu lfefr f}rh; 1998 bZ-

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

1- pkyw tek [kkrk &

3- vko`fr tek [kkrk

‘’kq) ns;rk,a (NDTL) = dqy ns;rk,a & cSadks dh tek,

eqnzk vkiwfrZ ds leqPp;

lhvkjvkj vf/kd gS rks lk[k ltZu de gksxk

lhvkjvkj de gS rks lk[k ltZu vf/kd gksrh gS

100 :- 96 :- 92.16 :- 88.47:- 84.94 :-

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

eqnzkxq.kkad &1@lhvkjvkj ;k M3/M0

vkjchvkbZ }kjk tkjh fd, x, u, ,xzhesaVl ¼leqPp;½

vkjchvkbZ vius vkadM+s dc tkjh djrh gSA

(BPLR) – Benchmark Prime Lendig Rate

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

MCLR – Marginal Cost of Fund Based Lending Rate

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

• m)s’; & foÙkh; lekos’ku

eqnzk cSad %& Micro Units Development and Refinance Agency

yksdy ,fj;k cSad

Development Finance Institution –

Industrial Finance Corporation of India

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

IFCI (INDUSTRIAL FINANCE CORPORATION OF INDIA)-

All India Refinance Agency

EXIM BANK NABARD NHB SIDBI

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

,uch,Qlh %& ukWu cSafdax QkWbZusl

Banking Ombudsman – cSfdax yksdiky

• 1999 bZ- esa 15 yksdiky fu;qDr fd;s x;s A

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,