Economic Agents An economic agent is an entity that engages in economic activity. This activity can be buying, selling, or producing goods and services and influencing capital markets. There are four main types of economic agents: households or individuals, businesses, governments, and central banks. Each type of economic agent has different objectives. Following are different types of Econ...

SCOPE OF ECONOMICS Economics is a social science. The subject that economics deals with includes the analysis of economic problems of people in the society and the satisfaction of their wants. With the evolutionary changes of the society and its civilization, the subject matter scope of economics has expanded. The scope of economics is discussed below: As social science, economics deals w...

Code of Ethics for Civil Servants Committee on Prevention of Corruption (`Santhanam Committee'-1964). Our civil service system has a tradition of attitudes and achievements which sets examples to be emulated by current and prospective civil servants. Promoting the norms of `right conduct' cannot be enforced through a rigid mindless enforcement of laws and rules. Committee on Prevention...

Ethical Framework: The standards set in politics profoundly influence those in other aspects of governance. High standards of ethical conduct were an integral part of the freedom struggle. Unfortunately, ethical capital started getting eroded after the transfer of power. Widespread view that much more needs to be done to cleanse our political system. Criminalization of politics -`participation...

Finance Commission In Centre state financial relations Finance Commission plays an important role. According to the Constitution the President is empowered to set up a Finance Commission after every five years to make recommendations to him about the distribution of net proceeds of taxes to be divided between the centre and the states. The Commission is also required to suggest the principles o...

Federal fiscal relation: In financial field too the centre is more powerful than the states. In fact, for their development plans the states are purely dependent on the centre. No state can afford to work without active financial assistance of the central government. Undoubtedly in all federations, the units are financially not self-sufficient, but in India economic dependence of the states on...

Centre-State Relation and Judiciary The first major judicial intervention came in the issue of Centre-State relation when the Communist- controlled State of Kerala tried to take over the management of the private schools in the state. The Communist party had formed the government in Kerala in the year 1957. The governor had reserved this Education bill for the assent of the President. In ord...

Powers of the Governor Like the President of India, the Governor of a state has certain executive, legislative and judicial powers. He or she also possesses certain discretionary or emergency powers. But, unlike the President, the Governor does not have any diplomatic or military powers. Executive powers The Governor has the power to appoint the Council of Ministers including the C...

Salient Features of the Indus valley civilization 1. Town Planning             The Harappan culture was distinguished by its system of town planning on the lines of the grid system – that is streets and lanes cutting across one another almost at right angles thus dividing the city into several rectangular blocks. Flanking the...

Origin of Indus valley civilization             The important views below regarding the origin of Indus Valley Civilization gives an idea how this great civilization was originated.             The first view is that Indus Valley Civilization evolved under the influence of Sumerian C...