The indian economy

India's GDP growth in 2018-19. India's economy grew at an impressive 8.2 per cent in the first quarter of 2018-19 financial year ending June 30 on the back of a strong core performance and a healthy base . This jump ahead of national elections next year would help bolster the government amid a debate over its economic record versus that of its predecessor following the release of back-series data recently. This will also be factored in by the monetary policy committee at its next review scheduled for October 3-5. The Indian government changed the base year for GDP calculation from 2004-05 to 2011-12, by changing the goods and services in the basket to make it more current, in 2015. Key Highlights This is the highest growth in two years and strongest since the first quarter of 2016. Sectors which registerd growth of over 7 per cent include ‘manufacturing, ‘electricity, gas, water supply & other utility services’ ‘construction’ and ‘public admi...

PLANNING    COMMISSION      • National planning committee was set-up under the chairmanship of Jawaharlal Nehru in 1938. But planning commission was set-up in the year 1950. • It is the central body for making plans in india and prime minister is the Ex-officio chairman. It is a non-statutory, extra-constitutional and advisory body and finds no mention in the constitution of india. It was replaced by NITI AAYOG on 1 st January, 2015. NITI   Aayog NITI Aayog National Institution for transforming india Aayog came into existence on 1 st January, 2015; policy making think-tank of government that replaces planning commission and aims to involve states in economy policy making. It will be providing strategic and technical advice to the central and the state Government. 15-year Vision Document NITI Aayog has decided to come up with a 15-year vision document in place of 5-year plan. The first 15-year vision document will come into effect fr...