I thought I would dive into the Economic Survey, but, surprisingly kept surfing till now.Read through some random news and blogs.Between, not random blogs, its those I discontinued reading ever since jumped on to this deep sea challenger known as UPSC prep.Still a long way to go.....
Thursday, April 5, 2012
5th April 2012: Kannan Chettan's visit
Today Kannan chettan came.He had to buy some magazine & most importantly Economic Survey.Had a good chat with him and cleared some doubts on economics concepts.He spoke about the appalling medical examination drill he went through(last stage of UPSC exam). However, I think its almost the same as that of SSB, but for a first timer its shock of his life time....further..... censored.
And , apparently, he has high BP as recorded by the medical board.Well, to be frank his demeanor does not support this claim.Though, scientific facts can defy common understanding. I hope this does not affect his ranking or service option and as silver lining their is one more medical test after the rank list is published.
In all, felt nice talking to him, as its been a long time spoken to someone.
Further, it was heartening to know that he was going on a picnic to Ranikhet.And,I guess it would be change for Himani chechi also, from her mundane house-office life.Furthermore, trip will help kannan chettan to maintain a good state of mind.Its been a long journey for him.
In this marathon race, I believe its the one of the most important thing one should have - a good state of mind And,a good state of mind entails that one may be able to absorb the maximum(information & further knowledge).
Undoubtedly, the exam span of UPSC discourages even the most determined.Its a year long exam and even after the mains exam one has to prepare for the next year prelims as the final results would be published only few weeks before the prelims.So in case one fails to clear he should be in position to compete for next year(surely if only he intends to).
hmm.. so thats how it goes... it will be interesting to see how long I persists.
Also, got some useful tips from kannan chettan & hopes it will come handy in the preparation.
Anyways, bye for now; intents to read 1st chapter of ES today.
So, good night.
Between checked out Ranikhet on google.- Looks like its a beautiful place.Hope to visit it some day.
And , apparently, he has high BP as recorded by the medical board.Well, to be frank his demeanor does not support this claim.Though, scientific facts can defy common understanding. I hope this does not affect his ranking or service option and as silver lining their is one more medical test after the rank list is published.
In all, felt nice talking to him, as its been a long time spoken to someone.
Further, it was heartening to know that he was going on a picnic to Ranikhet.And,I guess it would be change for Himani chechi also, from her mundane house-office life.Furthermore, trip will help kannan chettan to maintain a good state of mind.Its been a long journey for him.
In this marathon race, I believe its the one of the most important thing one should have - a good state of mind And,a good state of mind entails that one may be able to absorb the maximum(information & further knowledge).
Undoubtedly, the exam span of UPSC discourages even the most determined.Its a year long exam and even after the mains exam one has to prepare for the next year prelims as the final results would be published only few weeks before the prelims.So in case one fails to clear he should be in position to compete for next year(surely if only he intends to).
hmm.. so thats how it goes... it will be interesting to see how long I persists.
Also, got some useful tips from kannan chettan & hopes it will come handy in the preparation.
Anyways, bye for now; intents to read 1st chapter of ES today.
So, good night.
Between checked out Ranikhet on google.- Looks like its a beautiful place.Hope to visit it some day.
Wednesday, April 4, 2012
4th April 2012: "coup"..
Its been an odd day.Started off with a farce "Coup" story on IE.Can't believe IE did that, first page news which read like an shoddy writing defying all rational dispositions.
Further, the US announcing a bounty of 10 million USD on Saeed Hafeez is a positive development for India.But, interesting was Hafeez's reply.He said" I'm a free man in Pakistan, if US want, they can come and meet me". That's a strong slap on Obama Administration.
Tellingly, world can do nothing to Saeed Hafeez without Pakistan's support.And, since now US has a strained relation with Pakistan I don't see much materializing with this bounty rhetoric.
EC's countermanding of Rajya Sabha election in Jharkhand was a necessary decision.It is know fact that money power was controlling election in general and buying of RS seats in particular.So, India was not baffled by this news.However, undoubtedly, it is a shame on our democracy.
Mission I'mpossible- Reading the Economic Survey completely.And, I start this mission today.The major hurdle is understanding the terms and concepts being used.Furthermore, only then, I would grasp crux of survey. It will be time consuming exercise and hope to complete it...
So... bye ... more update on that later.
Further, the US announcing a bounty of 10 million USD on Saeed Hafeez is a positive development for India.But, interesting was Hafeez's reply.He said" I'm a free man in Pakistan, if US want, they can come and meet me". That's a strong slap on Obama Administration.
Tellingly, world can do nothing to Saeed Hafeez without Pakistan's support.And, since now US has a strained relation with Pakistan I don't see much materializing with this bounty rhetoric.
EC's countermanding of Rajya Sabha election in Jharkhand was a necessary decision.It is know fact that money power was controlling election in general and buying of RS seats in particular.So, India was not baffled by this news.However, undoubtedly, it is a shame on our democracy.
Mission I'mpossible- Reading the Economic Survey completely.And, I start this mission today.The major hurdle is understanding the terms and concepts being used.Furthermore, only then, I would grasp crux of survey. It will be time consuming exercise and hope to complete it...
So... bye ... more update on that later.
Tuesday, April 3, 2012
3rd April,2012.
Talked to Vipin chettan afer a long time.It seems like he was in Culcutta, on the way back home.Apparently, he has completed his IIM course.And could not talk to him further, as his phone switched off.He sounded somewhere outside, probably with hangover of last night with a phone with low battery charge.Nevertheless, the brief chat chat with him was nice.He has got into some retail firm in kuwait.Though, he sounded not so happy, he said would join the firm.Seems-like, he prefers to be some Indian company. Nice to hear that , atleast some IIM grad wants to stay in India(for whatever the reson outcome is important here).
Otherwise, was learning about Current Account and Capital account today.
Current account contains Balance of Trade(BOT) and Balance on Invisible(BOI).
BOT is the net trade on "Goods" ie. export-import.
BOI is the same thing wrt to services.Also, net Remmitence,net tourism,net education and medical treatment also fall under BOI.
Total of BOI and BOT if "positive" then we have a surplus and if "negative" we have a deficit.This is famously known as CURRENT ACCOUNT DEFICIT(CAD).
The third and the final account through which foreign exchange is managed is Capital account.
Investments, borrowings,NRI deposits, External assistance are accounted in this account.
Our CAD is finaced through Captital a/c inflows.
If a country fails to stem the deficit then it is in a Balance of payament crisis.
Most often countries borrows to meet their deficit, as they dont have the sovereignty to print money( like the option available in the case of fiscal deficit).
Currently India is going through a high CAD crisis.It is as high as 4.3% of GDP.With its deficit brother(Fiscal deficit) also at alarming level, needless to say Indian economy is in a bad shape.
Only good news is that he have enough Foreign reserve to hedge the current crisis, but forex is depleting with intimidating Capital a/c inflow.
And, China has a Current account surplus.
Otherwise, was learning about Current Account and Capital account today.
Current account contains Balance of Trade(BOT) and Balance on Invisible(BOI).
BOT is the net trade on "Goods" ie. export-import.
BOI is the same thing wrt to services.Also, net Remmitence,net tourism,net education and medical treatment also fall under BOI.
Total of BOI and BOT if "positive" then we have a surplus and if "negative" we have a deficit.This is famously known as CURRENT ACCOUNT DEFICIT(CAD).
The third and the final account through which foreign exchange is managed is Capital account.
Investments, borrowings,NRI deposits, External assistance are accounted in this account.
Our CAD is finaced through Captital a/c inflows.
If a country fails to stem the deficit then it is in a Balance of payament crisis.
Most often countries borrows to meet their deficit, as they dont have the sovereignty to print money( like the option available in the case of fiscal deficit).
Currently India is going through a high CAD crisis.It is as high as 4.3% of GDP.With its deficit brother(Fiscal deficit) also at alarming level, needless to say Indian economy is in a bad shape.
Only good news is that he have enough Foreign reserve to hedge the current crisis, but forex is depleting with intimidating Capital a/c inflow.
And, China has a Current account surplus.
Monday, April 2, 2012
Bye Bye 2nd April 2012.
Its been a long day.Had tried to grasp some economy concepts, though not completed as I have liked to. However,its after some days that I have put in some decent work on economy.So quite happy about that.
Still some concepts are not very clear in my mind.Probably with time and usage it would get better.
Between, withdrew 8K from my a/c for the Rent payment.Each time I see my bank balance it send shiver down my spine.
Tough times ahead.And, definitely don't want to think about my Educational loan which have undoubtedly rendered into a Non Performing Asset for the bank.
Also, my father retires from service on 20th of Jan 2013. By then I should have more certainty on my Life.
Hope, all ends well. Good night.
Still some concepts are not very clear in my mind.Probably with time and usage it would get better.
Between, withdrew 8K from my a/c for the Rent payment.Each time I see my bank balance it send shiver down my spine.
Tough times ahead.And, definitely don't want to think about my Educational loan which have undoubtedly rendered into a Non Performing Asset for the bank.
Also, my father retires from service on 20th of Jan 2013. By then I should have more certainty on my Life.
Hope, all ends well. Good night.
Khan Academy; Hats Off.
http://www.khanacademy.org/
Amazing work by Mr khan.A large repository of teaching videos.Maths,Physics,Chemistry plus lot many.
Really impressed I am that i spent my last 1 hr surfing through the videos.
Long live Slaman Khan.
Amazing work by Mr khan.A large repository of teaching videos.Maths,Physics,Chemistry plus lot many.
Really impressed I am that i spent my last 1 hr surfing through the videos.
Long live Slaman Khan.
2nd APRIL,2012; Stopped THE HINDU
Reading two papers was too much for me.When I look back to my last few months, all I have done probably is reading two newspaper.And now, prelims exam so near I am really hard pressed for time as Geo,history , Eco staring at me.So, I have decided to drop one newspaper- The Hindu.
Meanwhile, bought economic survey- huge book; with my speed I would take atleast 15 days to complete that.And further, I think I should drop the plan of reading Year Book.Its a mt.Everest in itself.
I need to accept I am bogged down in the uncertainties of the subjects.This is where a good tutor comes handy.
A guiding light when we lose sight & tend to stray away from the path.
I have changed a lot, I found my myself alone in the crowded tea shop today. People around were so happy to be, discussing current affairs topic & like wise stuffs.Everyone had someone to talk to.
How did I become content with myself so much??- Its a mystery per se.
Meanwhile, bought economic survey- huge book; with my speed I would take atleast 15 days to complete that.And further, I think I should drop the plan of reading Year Book.Its a mt.Everest in itself.
I need to accept I am bogged down in the uncertainties of the subjects.This is where a good tutor comes handy.
A guiding light when we lose sight & tend to stray away from the path.
I have changed a lot, I found my myself alone in the crowded tea shop today. People around were so happy to be, discussing current affairs topic & like wise stuffs.Everyone had someone to talk to.
How did I become content with myself so much??- Its a mystery per se.
Sunday, April 1, 2012
Economy :GDP Concepts.
PRODUCT: it is the output of the economy.That is the total amount of good and services produced.It is equal to the total income to all factors of production.
DOMESTIC PRODUCT(DP):It is the total output within the geographical boundary of a country.
NATIONAL PRODUCT: DP- Income of Foriegn nationals in India+ Income of Indian nationals abroad.
GROSS: Concept used to accomodate Drepreciation.
If depreciation is reduced from the product its becomes NET.
Thus we have GROSS DOMESTIC PRODUCT and NET DOMESTIC PRODUCT.
Similarly, GROSS NATIONAL PRODUCT and NET NATIONAL PRODUCT.
FACTOR COST:its is purely the cost associated with the monetary value of goods and services.ie. excluding NET TAXES.
NET taxes= Taxes- subsidies.
After adding the taxes it becomes MARKET PRICE.
therefore, we have GDP at factor cost and GDP at market price.
GDP Deflator: Its incorporates the Inflation factor. Once GDP is adjusted by GDP deflator, it is known as GDP at Constant prices.
Tellingly, GDP at factor cost at constant prices is the real measure of growth.
India uses this meathod for computaion of GDP.While China uses the expenditure method.There is an income method also.However, thoeretically, all the methods should give the same output for the economy.
DOMESTIC PRODUCT(DP):It is the total output within the geographical boundary of a country.
NATIONAL PRODUCT: DP- Income of Foriegn nationals in India+ Income of Indian nationals abroad.
GROSS: Concept used to accomodate Drepreciation.
If depreciation is reduced from the product its becomes NET.
Thus we have GROSS DOMESTIC PRODUCT and NET DOMESTIC PRODUCT.
Similarly, GROSS NATIONAL PRODUCT and NET NATIONAL PRODUCT.
FACTOR COST:its is purely the cost associated with the monetary value of goods and services.ie. excluding NET TAXES.
NET taxes= Taxes- subsidies.
After adding the taxes it becomes MARKET PRICE.
therefore, we have GDP at factor cost and GDP at market price.
GDP Deflator: Its incorporates the Inflation factor. Once GDP is adjusted by GDP deflator, it is known as GDP at Constant prices.
Tellingly, GDP at factor cost at constant prices is the real measure of growth.
India uses this meathod for computaion of GDP.While China uses the expenditure method.There is an income method also.However, thoeretically, all the methods should give the same output for the economy.
A Different Trek.
A jouney undertook,
knowingly & unknowingly,
Chasing a Dream,
seems near & far,
An uphill task,
treacherous & thorny,
No looking back,
'fall ' is steep & scary,
But, can see the light,
with paitence & work,
In this solitude,
is 'life' & 'pain',
gladiator you are,
lonely you fight,
lonely you lose,
But,
if you win,
tough times are forgotten,
in the din of success,
'end' is sweet,
It is cherished,
and an officer is born.
knowingly & unknowingly,
Chasing a Dream,
seems near & far,
An uphill task,
treacherous & thorny,
No looking back,
'fall ' is steep & scary,
But, can see the light,
with paitence & work,
In this solitude,
is 'life' & 'pain',
gladiator you are,
lonely you fight,
lonely you lose,
But,
if you win,
tough times are forgotten,
in the din of success,
'end' is sweet,
It is cherished,
and an officer is born.
1st April,2012: MOCK & FOOL'S DAY
Gave my second Mock test today.It a was difficult one.Paper 1: attempted around 50 questions while around 60 questions in paper 2.Its not at all pleasant;Paper2, how can one not complete such simple paper!!.. Though sad, its a reality with me.Have to improve on my speed, particulary reading speed.
Could not see off Ankit.He left for Surat today by evening train, probably will not see him for a long time.He has been a fast friend, and really a good person.We had some nice time together-College,lucknow trip,and later in Noida.
I wish his aspiration get fulfilled for its been a long time he has been striving.Hope Singapore brings fresh & rejuvenating life into him.All the Best my friend.
So, its like I have taken 2 days off as have not studied for last 2 days.Need to do this.bye..
Between Happy Fool's Day.
Could not see off Ankit.He left for Surat today by evening train, probably will not see him for a long time.He has been a fast friend, and really a good person.We had some nice time together-College,lucknow trip,and later in Noida.
I wish his aspiration get fulfilled for its been a long time he has been striving.Hope Singapore brings fresh & rejuvenating life into him.All the Best my friend.
So, its like I have taken 2 days off as have not studied for last 2 days.Need to do this.bye..
Between Happy Fool's Day.
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