Economy Final

vFkZ'kkL= Economics
¼/ku dk foKku½
Economics
Eco – Home, Nomics- account ¼vk; O;; dk ys[kk tks[kk½
Economics - ?kj ds vk; O;; dk ys[kk tks[kkA
vFkZ'kkL= og fo"k; gS ftlesa ge bl ckr dk v/;;u djrs gSa fd fdl çdkj ,d O;fä lekt
vFkok jk"Vª vius lhfer lalk/kuksa ds ek/;e ls vius vlhfer vko';drkvksa dh iwfrZ djrk gSA
vFkZ'kkL= ds tud ,Me fLeFk us viuh iqLrd ''Wealth of Nation'' Book
vFkZ'kkL= ds izdkj &
1- O;f"V vFkZ'kkL= (Micro Economics)
2- lef"V vFkZ'kkL= (Macro Economics)
1- O;f"V vFkZ'kkL= %& bls lq{e ;k Micro vFkZ'kkL= dgrs gSa A blds varxZr vFkZO;oLFkk dh
,d bdkbZ dk v/;;u fd;k tkrk gSA
Ex. - ,d miHkksDrk] ,d mRiknd] ,d ifjokj A
2- lef"V vFkZ'kkL= %& bls o`gn vFkZ'kkL= Hkh dgrs gSA vkfFkZd xfrfof/k;ksa dks O;kIkd ;k
lEiw.kZ :i ls izHkkfor djrh gSA
Ex. – vkfFkZd uhfr] ekSfnzd leh{kk vkfn A
vFkZ'kkL= ,oa vFkZO;oLFkk esa laca/k
lkekU;r% buesa lac/a k fl)kUr ,oa O;ogkj dk gSA vFkZ'kkL= tgk¡ vkfFkZd xfrfof/k;ksa ds fl)karks]a
fu;eksa vkSj uhfr;ksa dk v/;;u gksrk gSA ogh vFkZO;oLFkk bu fl)karks]a fu;eksa vkSj uhfr;ksa dk
O;ogkfjd mi;ksx gksrk gSA
vFkZO;oLFkk dks fuEufyf[kr {ks=ksa esa ckaVk x;k gS &
1- izkFkfed {ks= %& vFkZO;oLFkk dk og {ks= tgk¡ izkd`frd lalk/kuksa dk mRiknu fd;k tkrk gSA
bls d`f"k ,oa laca/k {ks= dgk tkrk gSA
Ex. – d`f"k] i'kqikyu] [kfut mR[kUu] okfudh] eRL; A
MOKSHA IAS MO-8109793404, 8109893404 Page 1

2- f}rh;d {ks= %& vFkZO;oLFkk dk og {ks= tks izkFkfed {ks= ds mRiknksa dks dPps eky ds :i esa
mi;ksx djrk gS vkSj ,d uohu OkLrq dk fuekZ.k djrk gS vr% bls vkS|ksfxd {ks= Hkh dgk
tkrk gSA
xsgw¡ vkVk czsM
Ex. – fofuekZ.k m|ksx] fuekZ.k m|ksx A
3- r`rh;d {ks= %& vFkZO;oLFkk dk og {ks= tks fofHkUu izdkj dh lsok,a iznku djrk gS rFkk og
izkFkfed {ks= ,oa f}rh;d {ks= ds ,d lg;ksxh {ks= ds :i esa dk;Z djrk gS] bls lsok {ks= Hkh
dgrs gSA
Ex.- Services, f'k{kk] LokLF;] cSfa dx] ifjogu] i;ZVu] yksdiz'kklu] U;k;] izca/ku A
4- prqFkZd {ks= %& prqFkZd {ks=] r`rh;d {ks= dk ,d mUur :i gS] D;ksafd bl {ks= esa ;ksX;rk]
fo'ks"krk ,oa Kku ds v/;;u ls lsok iznku fd;k tkrk gS] prqFkZd {ks= esa izca/kdh; dkS'ky]
rduhdh dkS'ky fo'ks"kKrk dks 'kkfey fd;k x;k gSA
Ex. – Coaching Field, laLFkku] ltZu] ,d fo'ks"k fo"k; esa dksbZ fo'ks"kK gks A
5- iapd {ks= %& iapd {ks= Hkh r`rh;d ,oa prqFkZd {ks= dk mUur :i gSA blesa mPp fdLe dh
lsok,a iznku dh tkrh gSA lsokvksa esa tc fu.kZ; fuekZ.k ,oa uhfr fuekZ.k dk dk;Z fd;k tkrk
gS A rks og iapd {ks= esa vkrk gSA
Ex. – eq[; lfpo] RBI, uhfr vk;ksx] laln A
vFkZO;oLFkk dk oxhZdj.k %&
(A) jkT; dh Hkwfedk ds vk/kkj ij
1- iwt
a hoknh vFkZO;oLFkk
2- lektoknh vFkZO;oLFkk
1- iwt
a hoknh vFkZO;oLFkk %& iwathoknh vFkZO;oLFkk og vFkZO;oLFkk gS ftlesa oLrqvksa vkSj
lsokvksa ds mRiknu o forj.k ij futh LokfeRo dk vf/kdkj gksrk gS A futh LokfeRo ij
vk/kkfjr gksus ls ;g O;oLFkk ekax ,oa iwfrZ ds vk/kkj ij dk;Z djrh gSA bl vFkZO;oLFkk
ij ljdkjh gLr{ksi U;wure gksrk gSA bl fl)kar dk izfriknu ,Me fLeFk us viuh

iqLrd ''The Wealth of Nation'' esa fd;k gSA ftlesa mUgksaus Laissez faire vgLr{ksi
dh uhfr dk o.kZu fd;k A
Ex.- vesfjdk] ;wjksfi;u ns'k A
2- lektoknh vFkZO;oLFkk %& og vFkZO;oLFkk gS ftlesa oLrqvksa vkSj lsokvksa ds mRiknu ij
ljdkjh LokfeRo ;k lkeqfgd LokfeRo gksrk gSA ;g vFkZO;oLFkk yksd dY;k.k dh
vo/kkj.kk ij dk;Z djrh gSA oLrqvksa vkSj lsokvksa ds leku forj.k dk iz;kl djrh gSA
blesa ljdkjh fu;a=.k jgrk gSA
Ex. – USSAR, D;wck A
3- fefJr vFkZO;oLFkk %& og vFkZO;oLFkk gS ftlesa iwathoknh ,oa lektoknh vFkZO;oLFkk
vFkkZr~ nksuksa ds xq.k gksrs gS rFkk blesa ljdkjh {ks= o futh {ks= feydj vkilh lg;ksx
ls dk;Z djrs gSA
Ex. - Hkkjr fefJr
iwathoknh lektoknh
(a) fodkl dh fLFkfr ds vk/kkj ij &

1- fodflr vFkZO;oLFkk %& og vFkZO;oLFkk gS ftlesa vkfFkZd fodkl vFkkZr~ jk"Vªh; vk;] izfr
O;fDr vk;] cgqr vf/kd gksrk gSA lkFk gh f'k{kk] LOkkLF;] lajpuk ds {ks= esa mUur gksrs gSA
World Bank ds vuqlkj & fodflr jk"Vª os jk"Vª gS ftldh izfr O;fDr vk; $12695
(July 2021 ds vuqlkj) ls vf/kd gks A
Ex. - ;wjksih;u ns'k] vesfjdk] fczVsu] Qzkal A
2- fodkl”khy vFkZO;oLFkk %& ,slh vFkZO;oLFkk tks fd u rks cgqr vf/kd fodflr gS] u gh cgqr
vf/kd fiNM+k gqvk gS cfYd nksuksa ds e/; fLFkr gS] vFkkZr~ vYi fodflr ls fodflr dh vksj
xfreku ns”kksa dks fodkl”khy vFkZO;oLFkk ds :Ik esa tkuk tkrk gSA bu ns”kksa esa f”k{kk]
LokLF;] volajpuk dh fLFkfr e/;e gksrh gSA

a. fuEu e/;e vk; oxZ vFkZO;oLFkk %& World Bank ds vuqlkj os jk"Vª fuEu e/;e vk; oxZ esa
'kkfey fd;s x;s gSa A ftudh izfr O;fDr vk; $1046-4096 ds chp gSA
Ex. – Hkkjr A
b. mPp e/;e vk; oxZ % & ftudh izfr O;fDr vk; $4096-$12695 ds chp gSA
Ex. – phu A
3- vYifodflr vFkZO;oLFkk %& bl vFkZO;oLFkk ds varxZr os jk"Vª vkrs gS ftudh izfr O;fDr
vk; o jk"Vªh; vk; dk Lrj vR;ar fuEu gSA f'k{kk] LokLF;] o lajpuk ds Lrj ij Hkh fuEu
fLFkfr O;kIr gSA
World Bank ds vuqlkj os jk"Vª vYifodflr jk"Vª esa vk;saxsa ftudh izfr O;fDr vk;
$1046 ls de gks A
Ex. – vQzhdk ds ns'k];wxkaMk A
c. Sector ds vk/kkj ij &

1- d`"kd vFkZO;oLFkk %& ;fn fdlh vFkZO;oLFkk ds ldy ?kjsyw mRikn esa d`f"k ,oa laca/k {ks=
dh Hkkxhnkjh 50% ;k mlls vf/kd gks rks mls d`"kd vFkZO;oLFkk dgrs gSA
2- vkS|ksfxd vFkZO;oLFkk %& ;fn fdlh vFkZO;oLFkk ds ldy ?kjsyw mRikn esa vkS|ksfxd {ks= dh
Hkkxhnkjh 50% ;k mlls vf/kd gks rks mls vkS|ksfxd vFkZO;oLFkk dgrs gSA
3- lsok vFkZO;oLFkk %& ;fn fdlh vFkZO;oLFkk ds ldy ?kjsyw mRikn esa lsok {ks= dh Hkkxhnkjh
50% ;k mlls vf/kd gks rks mls lsok vFkZO;oLFkk dgrs gSA
4- Kku vFkZO;oLFkk
Hkkjr dh GDP = 4 Trillion 2023
GDP ds vk/kkj ij 5th Position esa
1st – vesfjdk] 2nd – China
fdUrq PPP (Purchasing Power Parity) ds vk/kkj ij (Economy– $ 13 Trillion)
1st – China , 2nd – America, 3rd – India
GDP ds vk/kkj ij Hkkjr us fczVsu dh Economy dks Cross fd;k gS A
GDP fuHkZjrk 2021 ds vuqlkj

17% d`"kd 42.2%
29.2% vkS|ksfxd 30%
54% lsok 27%
d. nwljs ns'kksa ls laca/kksa ds vk/kkj ij %&

1-[kqyh vFkZO;oLFkk %& os vFkZO;oLFkk gksrh gS] ftudk vU; vFkZO;oLFkkvksa ¼ns'kks½a ls oLrqvks]a
lsokvks]a O;kikj ,oa fuos'k dk Lora= lapkyu gksrk gSA vkfFkZd lac/a k ,oa vk;kr & fu;kZr gksrk
gSA
2-can vFkZO;oLFkk %& os vFkZO;oLFkk,¡ gSa ftudk vU; ns'kksa dh vFkZO;oLFkkvksa ds lkFk dksbZ vkfFkZd
laca/k ugha gksrk gSA bu vFkZO;oLFkkvksa esa vk;kr & fu;kZr izfrcaf/kr gksrk gSA
e. vkRefuHkZjrk ds vk/kkj ij %&

1-vkRefuHkZj vFkZO;oLFkk %& os vFkZO;oLFkk,¡ gSa tks viuh vko';drkvksa ds vuq:i lkjh oLrqvksa
,oa lsokvksa dk mRiknu LOk;a djrs gSaA
Ex. – vkRefuHkZj Hkkjr vfHk;ku }kjk vkRefuHkZj Hkkjr ds y{; dks izkIr djuk pkgrk gSA
2-vkfJr vFkZO;oLFkk %& os vFkZO;oLFkk,a tks viuh vko';drkvksa dh iwfrZ ds fy, nwljs jk"Vª ij
fuHkZj gksrh gSA
3-ijLij fuHkZj vFkZO;oLFkk %& os vFkZO;oLFkk,a gS tks dqN ekeyksa esa ,d nwljs jk"Vª ij fuHkZj gksrh
gSA

ewY; lao/kZu (Value Addition)
ewY; lao/kZu dk vFkZ gS ,d mRikn ls tks uohu mRikn cukus esa tks ewY; dh o`f) gksrh gS
mls ewY; lao/kZu dgrs gSA
Ex- xsgw¡ vkVk czsM
10 20 30
 Factor Cost :- fdlh Hkh oLrq dk og ewY; gS tks ml oLrq ds mRiknu esa okLrfod ykxr izkIr
gksrh gSA
 Market Price/Market Cost :- fdlh Hkh oLrq ds mRiknu esa tks okLrfod ykxr yxh gSA
mlesa Tax, dks tksM+dj vkSj lfClMh dks ?kVk dj tks ewY; izkIr gksrk gSA mls Market Price
;k cktkj ewY; dgrs gSA ;g og ewY; gksrk gS tks dksbZ miHkksDrk cktkj ls dksbZ oLrq [kjhnrs
le; pqdkrk gSA
 ewY; g~kl %& fdlh Hkh oLrq ds mi;ksx ls tks ml oLrq ds ewY; esa deh gksrh gSA mls ewY;
g~kl dgrs gSA
Marketing Price :- Factor Cost + Tax – lfClMhA
G.D.P. (Gross Domestic Product)

fdlh Hkh jk"Vª ds ?kjsyw lhek ds varxZr mlds fuoklh o xSj fuoklh;ksa rFkk bZdkbZ;ksa
}kjk ,d foRrh; o"kZ esa oLrq vkSj lsokvksa ds vafre mRiknu dk ;ksx gksrk gS A ¼oLrq ,oa lsokvksa
esa vafre ewY; lao/kZu ds ;ksx esa A nwrkokl dks ?kjsyw lhek esa tksM+k tkrk gS½

G.D.P. (Gross Domestic Product)
Ldy ?kjsyw mRikn
fdlh Hkh jk"Vª ds ?kjsyw lhek ds varxZr mlds fuoklh o xSj fuokfl;ksa rFkk bZdkb;ksa }kjk
,d foRrh; o"kZ esa oLrqvksa vkSj lsokvksa ds vafre mRikn dk ;ksx gksrk gSA
¼oLrq ,oa lsokvksa ds vafre ewY; lao/kZu ds ;ksx esa nwrkokl dks ?kjsyw lhek esa tksM+k tkrk gS½
G.N.P. (Gross National Product)

ldy jk"Vªh; mRikn
G.N.P. ,d foRrh; o"kZ esa dsoy fuoklh mRiknd bZdkb;ksa vFkkZr~ ns'k ds fuokfl;ksa }kjk
ns'k dh ?kjsyw lhek ds vanj ;k ckgj lHkh vafre oLrqvksa ,oa lsokvksa ds ;ksx gksrk gSA
N.P. = G.D.P. + Hkkjrh; fuokfl;ksa }kjk fons'k esa mRiknu & fonsf'k;ksa }kjk Hkkjr esa
mRiknu
N.P. = G.D.P. + fonsf'k;ksa }kjk izkIr fuoy vk;
(G.D.P.)M.P. = (GDP) F.C. + Tax - lfClMh
 O;fDrxr vk; (Personal Income) :- og vk; gS tks ns'k ds ukxfjdksa dks okLro esa vk; ds
:i esa izkIr gksrk gSA vFkkZr~ O;fDrxr vk; O;fDr;ksa rFkk ifjokjksa }kjk lHkh L=ksrksa ls izkIr
okLrfod vk; A
 O;; ;ksX; vk; %& og vk; gS tks O;fDr ;k ifjokj okLrfod :i ls miHksx dj ldrk gsA
Ex. – Personal income – 3L
Tax = 50K
O;; ;ksX; vk; = 3L-50K = 2.5OL
G.D.P. /G.N .P. dh x.kuk CSO/NSO djrh gSA
dsUnzh; lkaf[;dh dk;Zdky Central Statical Office

National Statical Office NSO
izfr O;fDr vk;
GNP ¼jk"Vªh; vk;½

izfr O;fDr vk; =
tula[;k
fdlh ns'k esa izfr O;fDr vftZr dh tkus okyh vkSlr vk; dks izfr O;fDr vk; dgrs gSA
GDP dh x.kuk fof/k ¼Method of Calculation of G.D.P. & G.N.P.½
A. mRiknu fof/k %& fdlh Hkh jk"Vª ds fuokfl;ksa }kjk mRikfnr vafre oLrq ,oa lsokvksa ds
mRiknu dh x.kuk djuk A ¼fdlh ,d foRrh; o"kZ es½
lko/kkfu;k¡ %&
1-blds varxZr foRrh; o"kZ ls igys mRikfnr oLrqvksa dh x.kuk ugha dh tkrh gSA
2-ek/;fed oLrqvksa dh x.kuk ugha dh tkrh gSA
Ex. – xsgw¡ vkVk czsM bldh x.kuk gksxh A ¼vafre mRikn dh½
3-vxj fdlh oLrq ,oa lsokvksa dk ekSf[kd :i ls vknku&iznku gqvk rFkk mldh x.kuk gksxhA
B. vk; fof/k %& fdlh Hkh mRiknu izfdz;k ds nkSjku ns'k ds fuokfl;ksa ds ds }kjk tks vk;
vtZu fd;k tkrk gS mldh x.kuk dj vk; fof/k ls GDP, GNP dh x.kuk dh tkrh gSA
Ex. – Je] ykHkka'k] ykHk] C;kt] Rent .
lko/kkfu;k¡ %&
1-gLrkarfjr vk; ] is'a ku] csjkstxkjh HkRrk] bu lc izdkj dh lgk;rk dks jk"Vªh; vk; esa x.kuk
ugha fd;k tkrk gsA
2-tqvk] lV~~Vk ls vftZr iSlk ugha tksM+rs gSaA
C.O;; fof/k %& fdlh Hkh vFkZO;oLFkk esa O;; dh tkus okys vkfFkZd ewY;ksa dh x.kuk dh tkrh
gSA mls jk"Vªh; vk; dh O;; fof/k dh x.kuk dgrs gSA jk"Vªh; vk; %& O;; fof/k esa jk"Vªh;
vk; dqy miHkksx ,oa dqy cpr dk ;ksx gksrk gSA
GNP = Private Consumption + Investment + (Export-Import) Government Purchasing
GNP = C+I+G+ (X-M)
lko/kkfu;k¡ &
1- vafre O;; dks gh x.kuk esa ysuk gSA
vafre miHkksx dh x.kuk dh tk,xh A e/;LFk miHkksx dh x.kuk ugha dh tk,xh A
Nominal GDP – tc fdlh jk"Vª ds GDP dh x.kuk ml jk"Vª ds orZeku ewY; ¼Current Price½
is dh tk;s rks izkIr GDP, Nominal GDP dgyk;sxk A
Real GDP – tc GDP dh x.kuk vk/kkj o’kZ ¼Base Year½ ds vk/kkj ij fd;k tkrk gSA Base
Year – 2011 gSA
Naino Car, 1 L x 3 = 3L
2021 1.5L x 3 = 4.5L Nominal GDP
it we Calculate in
Base Year , 1L x 3 = 3L Real GDP
But 1L x 2 = 2L GDP
1L x L = 4L GDP
G.D.P. Deflator :-
G.D.P. Deflator also called Implesit Price Deflator, ;g eqnzk LQhfr dks Calculate djrk gSA
;s fdlh Hkh jk"Vª ds Current Price ij izkIr gksus okys GDP vFkkZr~ Nominal GDP ,oa vk/kkj
o"kZ ij izkIr gksus okys GDP vFkkZr~ Real GDP dk vuqikr gSA
Nominal GDP
GDP Defletor = X 100
Real GDP
GDP dh dfe;k¡ %&

1-fcuk Hkqxrku ds dk;ksZa dh x.kuk GDP esa 'kkfey ugha dh tkrh gSA tSls – 24x7 dke djus
okyh efgykvksa dks GDP dh x.kuk esa 'kkfey ugha fd;k tkrk gSA
2-oLrq fofue; ls tks O;kikj gksrk gS mls GDP dh x.kuk esa 'kkfey ugha fd;k tkrk gSA
3-GDP dh x.kuk esa i;kZoj.k dks gksus okys uqdlku dk vkdyu dj ?kVk;k ugha tkrk gSA
4-lekukarj vFkZO;oLFkk ] xSj dkuwuh dk;ksZ ls tks vkfFkZd xfrfof/k;k¡ dh tkrh gS] mls GDP dh
x.kuk esa “kkfey ugah fd;k tkrk gSA
Ex. – tqvk] lV~Vk A
5-ekuo LokLF; vFkZO;oLFkk] esa i;kZoj.k gkfu ls iM+us okys izfrdqy izHkko dk vkdyu Hkh GDP
esa ugha fd;k tkrk gSA
6-lekftd vlekurk ( Income Inequility):- GDP dh x.kuk esa lekt esa tks vlekurk,a gksrh
gS mls GDP esa x.kuk ugha fd;k tkrk gSA
 vkfFkZd le`f) %& vkfFkZd le`f) dk rkRi;Z GDP, GNP izfr O;fDr vk; tSls vkfFkZd
rRoksa (economic factor) esa o`f} dks vkfFkZd le`f) dgrs gSaA ¼ekSfnzd :i ls fodflr½
 vkfFkZd fodkl %& vkfFkZd fodkl esa vkfFkZd le`f) ds lkFk gh lkekftd] vkfFkZd]
jktuSfrd] rRoksa f'k{kk] LokLF; tSls ekuoh; ewY;ksa dk fodkl gksrk gSSA
vkfFkZd le`f) ,oa vkfFkZd fodkl ds e/; varj %&
vkfFkZd le`f) vkfFkZd fodkl
1- oLrqvksa vkSj lsokvksa esa o`f) dks gh 1- vkfFkZd fodkl esa lkekftd] vkfFkZd]
vkfFkZd le`f) dgk tkrk gSA jktuSfrd fodkl dks 'kkfey fd;k
tkrk gS u dh ekSfnzd fodkl dks A
2- vkfFkZd le`f) dk lac/a k GDP, GNP,
izfr O;fDr vk; ls gSA 2- vkfFkZd fodkl dk laca/k ekuoh; ewY;ksa
ds fodkl ls gSA
3- vkfFkZd le`f) ek=kRed gSA mnk- f'k{kk] LokLF;] i;kZoj.k vkfn A
3- vkfFkZd fodkl xq.kkRed gSA
4- ;g ,d ladh.kZ vo/kkj.kk gSA
4- ;g ,d O;kid vo/kkj.kk gSA
5- ;g vYidkfyd vo/kkj.kk gSA
5- ;g nh?kZdkfyd vo/kkj.kk gSA

vkfFkZd fodkl dks izHkkfor djus okys dkjd %&
A. HkkSfrd@vkfFkZd rRo %& B. xSj vkfFkZd@vHkkSfrd rRo %&

1- izkd`frd lalk/ku 1- LokLF;
2- i;kZoj.k
2- iw¡th
3- jktuhrd fLFkjrk
3- ifjogu lapkj 4- lkekftd o lkaLd`frd fodkl
4- ÅtkZ 5- ekuo lalk/ku
5- tula[;k 6- rduhdh fodkl
A. HkkSfrd@vkfFkZd rRo %&

(i) izkd`frd lalk/ku %& fdlh jk"Vª ds fodkl esa izkd`frd lalk/ku cgqr egRoiw.kZ Hkwfedk
fuHkkrsa gSa A ;s izkd`frd lalk/ku gh gksrs gS] tks jk"Vª ds fodkl esa m|ksxksa dh lgk;rk djrs gS
,oa m|ksxksa esa dPpk eky iznku djrs gSaA izkd`frd lalk/ku fdlh Hkh jk"Vª ds fodkl esa
vk/kkjHkwr rRo gksrs gSaA &
mnkgj.k &
1- dukMk ds fodkl esa izkd`frd lalk/kuksa dk fo'ks"k ;ksxnku gSA
2- if'peh ,f'k;k ds ns'kksa tSls & lkÅnh vjc] UAE drj vkfn ds fodkl esa isVªksfy;e
inkFkksZa dk fo'ks"k ;ksxnku gS A
3- fczVsu ds fodkl esa Hkh izkd`frd lalk/kuksa dk egRoiw.kZ ;ksxnku gSA
(i) iw¡th %& vkfFkZd fodkl esa iw¡th dh vk/kkjHkwr Hkwfedk gS] tks ijEijkxr vFkZ'kkL=h gS A
tSls & ,Me fLeFk] os iw¡th dks gh fdlh jk"Vª dh vkfFkZd fodkl dk vk/kkjHkwr rRo ekurs gS]
fdlh Hkh jk"Vª ds fodkl esa fuos'k dh Hkwfedk egRoiw.kZ gksrh gSA tSls ge orZeku esa Hkkjr ds
vkfFkZd fodkl ds fy, fons'kh fuos'k dsk vkdf"kZr djus dk iz;kl dj jgs gSa A
(ii) ifjogu@lapkj %& ifjogu o lapkj fdlh ns'k dh voljapuk dk Hkkx gSA ;g fdlh
jk"Vª ds fodkl esa vk/kkjHkwr lajpuk gksrh gSA ifjogu o lapkj ds mfpr miyC/krk ds fcuk ge
,d jk"Vª ds :i ea fdlh Hkh lalk/ku dk mi;ksx ugha dj ldrs A

mnkgj.k %& fczVsu dh oSf'od 'kfDr cuus esa lapkj o ifjogu dh egRoiw.kZ Hkwfedk gSA fczfV'k
uko pykus esa dq'ky Fks] ftl dkj.k os vk/kh nqfu;k dks viuk mifuos'k cukus esa lQy jgs A
lapkj ds fy, Vsyhxzke dk vfo"dkj dj os lcls vkxs fudy x, A
(iii) ÅtkZ %& orZeku le; esa ÅtkZ fdlh jk"Vª ds fodkl dk vk/kkj Hkwr rRo gSA orZeku le;
esa ÅtkZ ds fcuk fdlh Hkh jk"Vª dk fodkl vlaHko gSA fctyh] isVªksfy;e dks;yk vkfn fdlh
jk"Vª dks lapkfyr djus esa egRoiw.kZ Hkwfedk fuHkkrs gSA
(iv) tula[;k %& fdlh jk"Vª ds fodkl esa tula[;k ekax dk fuekZ.k djrh gSA rc ekax o
vkiwfrZ ds fl)kar ds vk/kkj ij m|ksxksa dk fodkl gksrk gSA
mnkgj.k %& Hkkjr dh vf/kd tula[;k ds vk/kkj ij bls cktkj dgk tkrk gS &
B. xSj vkfFkZd rRo %&
(i) f'k{kk %& fdlh Hkh jk"Vª ds fodkl gsrq f'k{kk dk Lrj vPNk gksuk vfr vko';d gS D;ksafd
f'k{kk le> dks tUe nsrh gS A fcuk le> ds dksbZ O;fDr ;k jk"Vª ;g ugha tku ldrk dh D;k
mlds fy, mfpr gS vkSj D;k vuqfpr A f'k{kk dk laca/k tkudkjh ls Hkh gSA tkudkjh ftruh
vPNh gksxh fodkl mruk gh vPNk gksxk A
mnkgj.k & ge vius ns'k esa gh ns[k ldrs gSa fd ftl jkT; dh f'k{kk dk Lrj ftruk vf/kd
vPNk gS ogka dh turk mruh gh tkx:d gSA ogka mruk vf/kd fodkl gSA tSls & dsjy
(ii) LokLF; %& orZeku ifjis{; esas LokLF; dh Hkwfedk lokZf/kd gSA vxj fdlh jk"Vª ds O;fDr;ksa
dk LokLF; Bhd ugha gksxk rks jk"Vª dk lkjk /;ku vius ukxfjdksa dh LokLF; Bhd djus ij gh
jgsxk A fQj og fodkl ds dze esa ihNs jg tk;sxkA
mnkgj.k %& COVID 19 ds nkSjku ge ns[k ldrsa ftudks Hkh COVID gqvk mudk fodkl ogha
:d x;k vkSj laHkor% os dqN o"kZ ihNs Hkh pys x;s oSls gh fLFkfr jk"Vª ds lkFk Hkh gSA vr%
LokLF; Hkh fdlh Hkh jk"Vª ds lkFk Hkh gSA vr% LokLF; Hkh fdlh jk"Vª ds fujarj fodkl gsrq
vR;ar egRoiw.kZ gSA
(iii) i;kZoj.k %& fodkl ds dze esa i;kZoj.k ¼okrkj.k½ dk vuqdwy gksuk vR;ar vko';d gS
vU;Fkk tgka thou dk vfLrRo gh [krjs esa gks ogka fodkl dh dYiuk dj ikuk gh laHko ugha

jgsxk A f'k{kk] LOkkLF; ,oa i;kZoj.k rhuksa dk gh ,d&nwljs ls cgqr xgjk lac/a k gSA i;kZoj.k
vPNk ugh arks LokLF; vPNk ugha vkSj tc LokLF; vPNk ugha gks rks leLr phtsa futhZo] fujl
izrhr gksrh gS dqN djus dh pkgr gh pkRe g ks tkrh gSA oSls esa f'k{kk ds fo"k; esa lksp ikuk
gh dfBu gksxk A ftlls fodkl vius&vki ckf/kkr gksrk pyk tk;sxk] :d tk;sxkA
(iv) lekftd] lkaLd`frd dqjhfr;k¡ %& ;g lekt dh dqjhfr;k¡ gh Fkh ftlls vaxzst brus o"kksZa
rd ge ij 'kklu dj ik;s A ,d&nwljs ds fopkjksa dk lEeu u djuk] mPp&fuEu tkfr;k¡
cukdj O;fDr;ksa ds vfHkO;fDr djus dh Lora=rk dk guu djuk A vkil esa Hksn&Hkko]
Nqvk&Nwr djuk A lekt esa I;kIr bUghsa dqjhfr;ksa ds dkj.k nwljksa dks ;g gd fey tkrk gS f
dog vkids e/; igq¡p dj vkidk gh 'kks"k.k djus yxrs gS vkSj 'kksf"kr O;fDr ds fy, 'kks"k.k
ls eqDr gksuk gh fodkl cu dj jg tkrk gSA ftlls fodkl dh xfr /kheh gks tkrh gS A
mnkgj.k & lrh izFkk Hkh iwoZ esa izpfyr dqjhfr;ksa esa ls ,d Fkh ftlls fdlh efgyk dk lEiw.kz
thou fdlh vU; O;fdr ds tUe&e`R;q ij vk/kkfjr jg x;k FkkA vFkkZr~ efgykvksa dk fodkl
vU; O;fDr ds e`R;q ds i'pkr~ gh lekIr gks tk;k djrk A
(v) ekuo lalk/ku %& ekuo tc rd vf'kf{kr jgrk gS og ek= ,d la[;k cu dj jg tkrk
gSA ijarq tc mlesa f'k{kk vFkkZr~ dkS'ky vk tkrk gS fQj og jk"Vª ds fodkl esa viuk ;ksxnku
nsus izkjaHk djrk gSA ftlls ml O;fDr dk fodkl rks gksrk gS gh gS lkFk gh jk"Vª ds fodkl ds
ia[kksa dks Hkh xfr iznku gksrh gSA
mnkgj.k %& iz/kkuea=h dkS'ky fodkl ;sktuk 2015 bldk mn~ns'; ;qokvksa dks izf'k{k.k nsuk]
ftlls dh os jkstxkj izkIr dj lds vkSj viuk lkFk gh jk"Vª ds fodkl esa Hkkxhnkjh ns ldsA
(vi) foKku ,oa rduhdh %& orZeku ifjis{; foKku ,oa rduhdh dk ;kqx gSA foKku us ekuo
thou dks fdruk] ljy lgt cuk fn;k gSA igys ftl dk;Z dks djus esa ?kaVks oefguksa dk
le; yxrk Fkk vkt ogh dk;Z lssds.Mksa esa gks tk;k djrk gSA mnkgj.k eksckbZy A
ftldk lgh mi;ksx euq"; dk cgqr dk le; cpkrk gSA ml le; dk mi;ksx euq"; vU;
dk;ksZa ds lEiknu esa dj ldrk gSA ;gh fodkl gSA vkt ge i`Foh ds vfrfjDr vU; [kxksyh;
;gka ij thou dh izR;k'kk dk irk yxkus esa le> esa gSA tks fodkl dh vksj c<+rk ,d u;k

dne gSA vr% foKku ,oa rduhdh dk egRo jk"Vª ds fodkl esa lokZf/kd egRoiw.Zk Hkwfedk vnk
djrk gSA tc bldk lgh mi;ksx fd;k tk, A
INDEX OR **ekuo fodkl**

UNDP – United Nations Development Programme
**la;qDr jk"Vª fodkl dk;Zdze** ds }kjk lu~ 1990 ls HDI – Human Development Index dh
'kq:vkr dh xbZ A
HDI - egcwy my gd vkSj veR;Z lsu }kjk fodflrA
Human Development Indext

UNDP, HDI (ekuo fodkl½ dh x.kuk djrk gS ;g fdlh ns'k dh rhu vk/kkj ij vkSlr fodkl
dh x.kuk djrk gSA tks fuEu gS &
1- LokLF; & nh?kZdkfyd LokLF; thou ¼thou izR;k'kk½
Ldwy tkus dk vkSlr o"kZ
2- f'k{kk&
vkSlr Ldwy esa fcrk, x, o"kZ
3- thou Lrj & vk; (GNP/NI) P.C.I.

Gross National Product
lw= & H.D.I. - √

o"kZ 2022 esa Hkkjr dk HDI = 0.633
o"kZ 2022 esa Hkkjr dk LFkku & 132 ok¡
o"kZ 2022 esa ukosZ dk LFkku & 1st
UNDP dgrk gS fd ekuo fodkl] ekuo dh Lora=rk gSA ;g ekuo dh {kerk ¼;ksX;rk,¡½
ds fodkl dk vk/kkj gSA flQZ dqN yksxksa ds fy, ;k cgqr vf/kd yksxksa ds fy, ugha cfYd lHkh

yksxksa ds fy, A bls vPNs ls iznf'kZr djus ds fy, UNDP us u, Index cuk,¡ gSA tSls – GDI,
IHDI, GII vkfn A
Gender Development Index

GDI – GDI eq[;r% rhu vk/kkjksa ij fdlh jk"Vª ds efgykvksa rFkk iq:"kksa ds fodkl dh x.kuk
djrk gSA
1- LokLF; & thou izR;k'kk
2- f'k{kk & Ldwy tkus ds vkSlr o"kZ
3- laifRr ds vf/kdkj & Per Capita Income
GDI male
lw= GDI =
GDI female
Inequlatiy Adjested Human Development Index

(vlekurk lek;ksftr ekuo fodkl lwpdkad)
IHDI – IHDI vlekurk dks lek;ksftr djus ds fy, fuEufyf[kr vk/kkjksa ij ekuo dk fodkl
djus dk iz;kl djrk gS &
LokLF; & thou izR;k'kk
f'k{kk & Ldwy tkus ds vkSlr o"kZ
thou Lrj & vk; (GNP/NI/PCI)
lek;ksftr dk vFkZ gS fd izR;sd vk;ke esa vlekurk ds vkSlr Lrj ls deh dks
lek;ksftr djus dk iz;kl A
Gender Inequality Index
GII – GII efgykvksa o iq:"kksa ds e/; vlekurk fd x.kuk djrh gSA blds fuEu rhu izdkj gS &
¼efgykvksa ds ifjn`'; ls½

MMR (ekr` e`R;w nj)
1- LokLF;
fd'kksj iztuu nj
f'k{kk
2- l'kDrhdj.k
laln esa Hkkxhnkjh
3- Je esa Hkkxnkjh & orZeku esa Je esa efgykvksa dh Hkkxhnkjh 26% gSA
 orZeku esa Hkkjr dk iztuu nj & 2.1%

Multidiamention Poverty Index
¼cgqvk;keh xjhch lwpdkad½
MPI – cgqvk;keh xjhch lwpdkad ?kjsyw Lrj ij LokLF;] f'k{kk] vkSj thou Lrj esa deh dks
ekirk gSA ;g UNDP }kjk cgqvk;keh vk/kkj ij xjhch ds ekiu dk lwpdkad gSA blds rhu
vk;ke gS &
f'k'kq e`R;w nj
1- LokLF;
iks"k.k
Ldwy ds o"kZ
2- f'k{kk
Ldwy esa mifLFkr
3- thou Lrj LoPN ihus dk ikuh

fo|qr
LoPNrk@'kkSpky;
?kj ¼iDdk ?kj½
[kkuk cukus dk ba/ku
lEifRr

xjhch
tc dksbZ O;fDr viuh thou dh ewyHkwr vko';drkvksa dks iwjk djus esa vleFkZ gks rc og
xjhc dgyk,xk ;s vko';drk,¡ gS& jksVh] diM+k] edku] f'k{kk] LokLF; vkfnA
 xjhch ,d ,slh voLFkk ;k fLFkfr gS ftlesa fdlh O;fä ;k leqnk; ds ikl U;wure thou
Lrj ds fy, foÙkh; lalkèkuksa vkSj vko';d phtksa dk vHkko gksrk gSA xjhch dk eryc gS
fd jkstxkj ls vk; dk Lrj bruk de gS fd cqfu;knh ekuoh; t+: jrsa iwjh ugha gks ikrh
gSaA
 foÜo cSad ds vuqlkj] xjhch dk rkRi;Z [kq'kgkyh ls oafpr gksuk gS vkSj blesa dbZ vk;ke
'kkfey gSaA blesa de vk; vkSj xfjek ds lkFk thfor jgus ds fy, vko';d cqfu;knh
oLrqvksa vkSj lsokvksa dks çkIr djus esa vleFkZrk 'kkfey gSA xjhch esa LokLF; vkSj f'k{kk dk
fuEu Lrj] LoPN ikuh vkSj LoPNrk dh [kjkc igqap] vi;kZIr 'kkjhfjd lqj{kk] vkokt dh
deh vkSj fdlh ds thou dks csgrj cukus ds fy, vi;kZIr {kerk vkSj volj Hkh 'kkfey
gSaA
xjhch nks izdkj dh gksrh gS&
1- lkis{k xjhch & lkis{k xjhch esa xjhch dk rqyukRed vk/kkj ij v/;;u fd;k tkrk gSA
blesa fofHkUu oxksZa ds chp xjhch ds varj dks Kkr djus dk iz;kl fd;k tkrk gSA
mnkgj.k & A B
dkj gS dkj ugha gS
xjhc gS A
?kj gS ?kj ugha gS
2- fujis{k xjhch & fujis{k xjhch fujis{krk ds fl)kar ij dk;Z djrh gSA ftlesa Hkkstu] diM+k]
edku] LoPN is;ty] f'k{kk LokLF; vkfn dk vHkko gksrk gSA blesa xjhch dks Kkr djus ds
fy, ekud r; dj fn;s tkrs gSA ml ekud ds uhps ds ykxksa ds xjhc ekud fy;k tkrk
gS A

mnkgj.k & vehj xjhch js[kk ¼fuf”pr ekud ij vk/kkfjr½
xjhc
Lora=rk&iwoZ xjhch dk vuqeku
 nknkHkkbZ ukSjksth us viuh iqLrd] "i‚oVÊ ,aM vufczfV'k :y bu bafM;k" ds ekè;e ls
xjhch js[kk dk lcls igyk vuqeku ¼₹16 ls ₹35 çfr O;fä çfr o"kZ½ yxk;k A
muds }kjk çLrkfor xjhch js[kk fuokZg ;k U;wure cqfu;knh vkgkj ¼pkoy ;k vkVk] nky]
eVu] lfCt;ka] ?kh] ouLifr rsy vkSj ued½ dh ykxr ij vkèkkfjr FkhA
 jk"Vªh; ;kstuk lfefr ¼1938½ dh xjhch js[kk ¼çfr O;fä çfr ekg ₹15 ls ₹20 rd½ Hkh
U;wure thou Lrj ds ifjçs{; ij vkèkkfjr Fkh ftlesa iks"k.k lacaèkh vko';drk,¡ fufgr FkhaA
1938 es]a turk ds fy, i;kZIr thou Lrj lqfuf'pr djus ds ewy mís'; ds lkFk ,d
vkfFkZd ;kstuk rS;kj djus ds mís'; ls tokgjyky usg: dh vè;{krk esa lqHkk"k paæ cksl
}kjk jk"Vªh; ;kstuk lfefr dh LFkkiuk dh xbZ FkhA
 c‚Ecs Iyku ¼1944½ ds leFkZdksa us çfr O;fä çfr o"kZ ₹75 dh xjhch js[kk dk lq>ko fn;k
FkkA c‚Ecs ;kstuk Hkkjr dh Lora=rk ds ckn dh vFkZO;oLFkk ds fodkl ds fy, c‚Ecs esa
çHkko'kkyh O;kikfjd usrkvksa ds ,d NksVs lewg ds çLrko dk ,d lsV FkkA
Lora=rk ds ckn xjhch dk vkdyu
 ;kstuk vk;ksx fo'ks"kK lewg ¼1962½] ;kstuk vk;ksx }kjk xfBr dk;Z lewg us xzkeh.k
vkSj 'kgjh {ks=ksa ds fy, vyx&vyx xjhch js[kk,a ¼Øe'k% ₹20 vkSj ₹25 çfr O;fä çfr
o"kZ½ rS;kj dhaA
 oh,e nkaMd
s j vkSj ,u jFk ¼1971½ us jk"Vªh; uewuk loZs{k.k ¼,u,l,l½ ds vkadM+ksa ds
vkèkkj ij Hkkjr esa xjhch dk igyk O;ofLFkr ewY;kadu fd;k A
 fiNys fo}kuksa ds foijhr] ftUgksua s fuokZg thou ;k cqfu;knh U;wure vko';drkvksa dks
xjhch js[kk dk eki ekuk Fkk] oh,e nkaMd
s j vkSj ,u jFk dk fopkj Fkk fd xjhch js[kk
ml O;; ls çkIr dh tkuh pkfg, tks nksuksa xzkeh.k {ks=ksa esa çfr fnu 2250 dSyksjh çnku

djus ds fy, i;kZIr gksA vkSj 'kgjh {ks= O;; vkèkkfjr xjhch js[kk vuqeku us U;wure
dSyksjh miHkksx ekunaMksa ij cgl mRiUu dj nhA
 loZizFke Trickel down theory viuk;k x;k A
 1970 ds pquko esa loZizFke xjhch dh ckr dgh x;h A
 6 oha iapo"khZ; ;kstuk esa igyh ckj xjhch dks egRo fn;k x;k A
 okbZ- ds- vy[k lfefr & bls lu~ 1977 esa cuk;k x;k rFkk 1979 dks viuh fjiksVZ izLrqr
dh blesa ekud &
xzkeh.k Hkkjr & 2400 dSyksjh
'kgjh Hkkjr & 2100 dSyksjh
 ydM+okyk vk;ksx %& bls lu~ 1989 esa cuk;k x;k rFkk 1993 esa blus fjiksVZ fn;kA bl
vk;ksx us Hkkjr ds vyx&vyx jkT;ksa esa vyx&vyx xjhch js[kk r; djus dk lq>ko fn;kA
 lqjs'k rans qydj vk;ksx %& ¼orZeku esa ekU;½ ;g vk;ksx lu~ ¼2005&06½ esa cuk A blesa
cgqvk;keh vk/kkj ij viuh fjiksVZ izLrqr dh A bl fjiksVZ ds vuqlkj Hkkjr esa 21.9% xjhch
Fkh A
bl fjiksVZ }kjk r; ekud & jk"Vªh; Lrj ij &
xzkeh.k Hkkjr esa &
27 :- izfrfnu izfr O;fDr & 816 :- izfrekg
'kgjh Hkkjr &
33 :- izfrfnu izfr O;fDr & 1000 :- izfrekg
 lh- jaxjktu vk;ksx & cgqvk;keh vk/kkj ij bl vk;ksx dk xBu lu~ ¼2011&12½ esa gqvk A
blds vuqlkj Hkkjr esa 29.5% xjhch gSA ;g vk;ksx fookfnr o vekU; jgk blds vuqlkj&
xzkeh.k Hkkjr & 972:- izfr O;fDr izfrekg
'kgjh Hkkjr & 1407:- izfr O;fDr izfrekg
iks"k.k lacèa kh vko';drk,¡ i;kZIr iks"k.k ds ekud Lrjksa ds fy, & Hkkjrh; fpfdRlk vuqlaèkku
ifj"kn ¼vkbZlh,evkj½ ds ekunaMksa ds vkèkkj ij dSyksjh] çksVhu vkSj olk dh vkSlr

vko';drk,a] vf[ky Hkkjrh; xzkeh.k vkSj 'kgjh {ks=ksa ds fy, mez] fyax vkSj xfrfofèk ds vkèkkj
ij foHksfnr dh tkrh gSa
dSyksjh 'kgjh {ks=ksa esa 2090 fdyks dSyksjh vkSj xzkeh.k {ks=ksa esa 2155 fdyks dSyksjhA
çksVhu xzkeh.k {ks=ksa ds fy, 48 xzke vkSj 'kgjh {ks=ksa ds fy, 50 xzkeA
olk 'kgjh {ks=ksa ds fy, 28 xzke vkSj xzkeh.k {ks=ksa ds fy, 26 xzkeA
xjhch lhek 'kgjksa esa çfrfnu ₹47 vkSj xkaoksa esa ₹32 ls de [kpZ djus okys O;fä;ksa dks xjhc
ekuk tkrk gSA
bl i)fr ds vkèkkj ij] jaxjktu lfefr us vuqeku yxk;k fd rsna qydj lfefr ds Q‚eZwys dk
mi;ksx djds vuqeku dh rqyuk esa xzkeh.k {ks=ksa esa xjhcksa dh la[;k 19 % vfèkd vkSj 'kgjh {ks=ksa
esa 41% vfèkd FkhA
 vjfoan iuxfM+;k vk;ksx & blus vHkh rd viuh fjiksVZ izLrqr ugha dh gS A

varjkZ"Vªh; xjhch js[kk
foÜo cSad ml O;fä dks vR;fèkd xjhc ds :i esa ifjHkkf"kr djrk gS ;fn og çfr fnu 1-90
varjkZ"Vªh; M‚yj ls de ij thou ;kiu dj jgk gS ] ftls eqækLQhfr ds lkFk&lkFk ns'kksa ds
chp ewY; varj ds fy, lek;ksftr fd;k tkrk gSA ,f'k;kbZ fodkl cSad dh Hkh viuh xjhch
js[kk gS tks orZeku esa 1-51 M‚yj çfr O;fä çfrfnu gSA
 xjhch ds dkj.k ¼Hkkjr es½a
I. xqykeh
II. detksj vkfFkZd le`f)
III. tula[;k
IV. vf'k{kk
V. csjkstxkjh
VI. izkd`frd vkink & 2003 dh lqukeh] xqtjkr dk HkwdEi
VII. Hkz"Vªkpkj
VIII. vlekurk
IX. dksjkuk egkekjh vkfn A
 fo'o O;kikj esa Hkkjr dh fgLlsnkjh &
 orZeku esa & 1.2%
 xqykeh ls igys & 25%
 xqykeh ds ckn & 0.6%
Lorenz Curve ¼ykWjst odz½

ykWjst odz dks eSDl vks ykjsta }kjk lu~ 1905 esa fodflr fd;k x;k A buds vuqlkj
ykWjt
sa odz fdlh ns'k esa vk; dh vlekurk dks n'kkZrk gSA ykWjst a odz dk izR;sd fcUnq mu
O;fDr;ksa dks iznf'kZr djrk gS tks ,d fuf'pr vk; izfr'kr ds uhps jgrk gSA ;fn lekt ds
10% yksxksa ds ikl 10% lEifRr gks rFkk 20% yksxksa ds ikl 20% lEifRr gks rc tks js[kk
cusxh mls **fujis{k ;k iw.kZ lerk js[kk** dgsxsa A ;g dks.k ij js[kk cuk,xh A
 xhuh xq.kkad & ;g vk; ds forj.k dh vlekurk dks ekius dh lcls izpfyr fof/k gSA
tks vk; ds izR;sd ;qXe ds chp varj dks iznf'kZr djrk gS ;g okLrfod ykWjst a odz rFkk
fujis{k js[kk ds lEiw.kZ {ks=Qy dk vuqikr gksrk gS &
xhuh xq.kkad =
 xjhch ds nq"ifj.kke rFkk nq"pØ &
 xjhch fuokj.k ds iz;kl &

o vkfFkZd fodkl esa o`f) ↑
o f'k{kk esa o`f) ↑
o jkstxkj esa o`f) ↑
o LokLF; Lrj dk vPNk cuk jguk ↑
o ekuo lalk/ku ¼dkS'ky dk fodkl½ ↑
o voljapuk esa o`f) ↑
¼iz/kkuea=h xzke lM+d ;kstuk½
¼;kstuk vk;ksx ds vuqlkj] volajpuk] esa 1:- fuos'k djus ij GDP esa 6:- dh o`f) gksrh gSA
 d`f"k eas vkfJr tula[;k dks de djuk ↓
 r`rh;d {ks= esa Hkkxhnkjh dks c<+kuk ↑

 tula[;k esa deh ↓
 Hkz"Vkpkj esa deh ↓
 jkstxkj c<+kus okys m|ksx ↑jkstxkj l?ku m|ksx ¼oL= m|ksx] i;ZVu] [kk| izlaLdj.k
vkfn½
 izR;{k ljdkjh lgk;rk ↑
¼[kk| lqj{kk ;kstuk] eujsxk] LokLF; chek ;kstuk½
csjkstxkjh
 csjkstxkjh %& csjkstxkjh dk rkRi;Z gS fd dksbZ O;fDr Je djus dk bPNqd gks rFkk Je djus
ds fy, l{ke Hkh gks fdUrq mls dksbZ jkstxkj u feys rc mls csjkstxkj dgsx
a sa A
 Je 'kfDr %& fdlh jk"Vª dh Je'kfDr ls rkRi;Z 15 o"kZ ls 65 o"kZ ds vk;q ds mu yksxksa ls gS
tks jkstxkj esa yxs gq, gS rFkk tks jkstxkj djus ds bPNqd gksa] os lc Je 'kfDr dgyk;sasxAsa
csjkstxkjh = Je 'kfDr & jkstxkj
Je 'kfDr = jkstxkj $ csjkstxkj
 csjkstxkjh nj %& csjkstxkjh dh nj csjkstxkjksa dh la[;k o dqy Je 'kfDr dk vuqikr gksrk
gS A
csjkstxkjksa dh la[;k
csjkstxkjh nj = Je 'kfDr X 100
 lkekU; LVsVl %& fdlh O;fDr dks lkyHkj ;k 365 fnuksa esa 183 fnu dk dke izkIr ugha gksrk
rc mls lkekU; LVsVl dk csjkstxkj ekuk tk,xk A
 pkyw lkIrkfgd LVsVl %& ;fn fdlh O;fDr dks ,d lIrkg esa 1 ?k.Vs dk Hkh dk;Z ugha
feyrk gS A rc mls pkyw lkIrkfgd LVsVl dk csjkstxkj ekuk tk,xk A

 pkyw nSfud LVsVl %& ;fn fdlh O;fDr ds ,d fnu esa 4 ls 8 ?k.Vs dk dk;Z feyrk gS] rc
mls iw.kZ jkstxkj dgsx
a sa A izfrfnu 1&4 ?k.Vs dk;Z feyus ij v)Z jkstxkj rFkk 1 ?k.Vs ls Hkh
de dk;Z feyus ij mls csjkstxkj ekuk tk,xk A
csjkstxkjh ds izdkj
xzkeh.k 'kgjh & f'kf{kr
ekSleh izPNUu vkS|ksfxd
d`f"k
1- ekSleh csjkstxkjh (Seasonal Unemployment) %& ekSleh csjkstxkjh lkekU;r% xzkeh.k {ks=ksa esa
ns[kh tkrh gS] ftldk rkRi;Z gS fd O;fDr dks ekSle vk/kkfjr jkstxkj izkIr gks jgk gks vFkkZr~
fdlh ekSle esa jkstxkj izkIr gks jgk gks rFkk fdlh ekSle esa jkstxkj izkIr u gks jgk gksA
2- izPNUu csjkstxkjh (Disguised Unemployment) %& ;g Hkkjr esa lcls cM+h leL;k gSA ;g
vizR;{k gS vFkkZr~ izPNUu csjkstxkjh dk vk'k; gS fd fdlh dk;Z eas vfrfjDr Jfedksa ds yxs
gksus ls vFkkZr~ ftl dk;Z dks de yksx dj ldrs gks ml dk;Z esa vf/kd yksxksa ¼Jfedks½a dk
yxk gksuk A lkekU;r% d`f"k {ks= esa vf/kd Jfed dk;Z djrs ik;s tkrs gSA
3- vkS|ksfxd csjkstxkjh (Industrial Unemployment)%& vkS|ksfxd csjkstxkjh vkS|ksfxd {ks= esa
mRiUu gksrh gSA lkekU;r% vkS|ksfxd {ks= vf/kd yksxksa dks vkdf"kZr djrs gSa] fdUrq lHkh yksxksa
dks jkstxkj iznku ugha dj ikrs gSA rFkk tc m|ksx cUn gks tkrs gSa] rc tks yksx csjkstxkj
gks tkrs gS A mUgsa Hkh vkS|ksfxd csjkstxkj dgrs gSa A
4- f'kf{kr csjkstxkj (Educated Unemployment)%& f'kf{kr csjkstxkjh lkekU;r% 'kgjh {ks=kas esa
fn[kkbZ nsrh gSA blesa tc f'kf{kr O;fDr vius f'k{kkuqlkj jkstxkj izkIr djus esa vleFkZ gksrk
gS A rc mls f'kf{kr csjkstxkj dgrs gSA
5- [kqyh csjkstxkjh (Open Unemployment)%& tc bPNqd o le{k O;fDr dks jkstxkj u fey jgk
gSA rc mls [kqyh csjkstxkjh dgrs gSA
6- lajpukRed csjkstxkjh (Structural Unemployment)%& lajpukRed csjkstxkjh og csjkstxkjh
gksrh gS A tks vFkZO;oLFkk esa ljapukRed ifjorZu ls mRiUu gksrh gSA ;g vFkZO;oLFkk esa iqjkus
rduhd ls u;s rduhd esa ifjorZu ls mRiUu gksrh gSA

mnkgj.k %& dEI;qVj ds vkus ls VkijkbVj esa yxs yksxksa dk jkstxkj [kRe gksuk A
gkjosLVj ds vkus ls yqkvkbZ esa yxs yksxksa dk csjkstxkj gksuk A
7- ?k"kZ.kkRed csjkstxkjh (Frictional Unemployment)%& ;g csjkstxkjh dqN le; fo'ks"k esa mRiUu
gksrh gS] tc Jfed ,d jkstxkj ¼mRiknu izfdz;k½ ls nwljs jkstxkj esa LFkkuarfjr gksrk gSA rc
ml le; varjky esa tks csjkstxkjh mRiUu gksrh gSA mls ?k"kZ.kkRed csjkstxkjh dgrs gSA
8- vYi csjkstxkj (Under unemployment) %& tc ,d Jfed ftrus le; ds fy, dk;Z djuk
pkfg, mrus le; ls de le; ds fy, jkstxkj izkIr djrk gSA vFkok o"kZ ;k efgus esa dqN
le; ds fy, csjkstxkj jgrk gks ;k mls viuh {kerk rFkk ;ksX;rk ds vuq:i jkstxkj u fey
jgk gks rc mls vYi jkstxkj dgsx
a sa A blds nks izdkj gSa &
i. n`'; vYi jkstxkj ¼vFkkZr~ de le; ds fy,½

ii. vn`'; vYi jkstxkj ¼;ksX;rk ds vuq:i dk;Z ugha½
9- pfØ;k csjkstxkjh (Cyclical Unemployment)%& ;g csjkstxkjh vFkZO;oLFkk esa pdzh; mrkj &
p<+koksa ds nkSjku mRiUu gksrh gSA vf/kd vkfFkZd xfrfof/k;ksa ds nkSjku vf/kd jkstxkj mRiUu
gksxsa rFkk de vkfFkZd xfrfof/k;ksa ds nkSjku de jkstxkj mRiUu gksxsa A
10- Lo csjkstxkjh ;k okysaVjh csjkstxkjh (VRS) %& tc O;fDr jkstxkj ikus ds ;ksX; gks rFkk og
jkstxkj u djuk pkgrk gks rc mls Lojkstxkj dgsxsa A
1- Engel's Law :- vuZ'k ,atsy dgrs gSa fd tc fdlh O;fDr ds vk; esa o`f) gksrh gS rks ml
O;fDr ds }kjk [kk| esa fd;s tkus okys O;; esa vkuqikfrd :i ls fxjkoV gksrh gSA Hkys gh
[kk| Hkkstu ij fd;k x;k O;; vf/kd gks] fdUrq vk; esa o`f) esa vuqikr esa O;; de gkrk
tkrk gS A

mnk- vk; [kk| esa O;; [kk| esa O;; izfr'kr
tc 10k 3k 30%
tc 30k 6k 20%
Food
Food
Kuznet's Curve ds vuqlkj fdlh fodkl'khy vFkZO;oLFkk esa vkjEHk esa vkfFkZd le`f) ds lkFk ns'k
esa vlekurk esa o``f) gksrh gS rFkk ,d ifjfLFkfr ds ckn vkfFkZd le`f) ds lkFk ns'k esa lekurk
esa o`f) gksus yx tkrh gSA
 csjkstxkjh ds dkj.k %&
1- xqykeh & vkfFkZd 'kks"k.k
2- ¼Lora=rk ds ckn½ vkfFkZd fodkl dh detksj fLFkfr A
3- tula[;k
4- nks"kiw.kZ f'k{kk O;oLFkk
5- ¼detksj½ ekuo lalk/ku & dq'kyrk
Note :- Hkkjr esa flQZ 4% Jfed Skilled ¼dq'ky gSa½
nf{k.k dksfj;k & 96% tkiku & 80% phu & 80%

6- Hkz"Vkpkj
7- tula[;k Hkkj dk d`f"k {ks= ij fuHkZjrk &
izaPNUu] ekSleh csjkstxkjh
8- detksj ljdkjh uhfr;k¡
9- gLrdyk m|ksx dk u"V gksuk A
10- y?kq m|ksx rFkk dqVhj m|ksxksa dh detkjs fLFkfr e'khuhdj.k
 csjkstxkjh ds ifj.kke %&
 csjkstxkjh ds vkfFkZd ifj.kke %&

 csjkstxkjh ds dkj.k mRikdrk esa deh vkrh gS rFkk ekax ls Hkh deh gksrh gSA
 csjkstxkjh ls vkfFkZd fodkl detksj gksrh gSA
 csjkstxkjh ds dkj.k cpr esa deh gksrh gS A rFkk iw¡th esa Hkh deh gksrh gSA
 csjkstxkjh ds lkekftd ifj.kke %&
 xjhch] vf'k{kk] vLoLF;rk] vlekurk] vijk/k vkfn A
 csjkstxkjh ds jktuhfrd ifj.kke %&
 tkfrokn] /keZokn] Hkk"kkokn] jktuhfrd vfLFkjrk A
 csjkstxkjh ds fuokj.k ds fy, lq>ko %&
 vkfFkZd fodkl dks Å¡pk j[kuk A

 ekuo lalk/ku dk fodkl
 f'k{kk esa lq/kkj
 d`f"k esa tula[;k dh fuHkZjrk dks de djuk
 lrr~ fodkl dks viukuk
 lekos'ku
 Hkz"Vkpkj esa deh djuk A
 ljdkjh uhfr;ksa dk mfpr fdz;kUo;u A
 dqVhj m|ksx o y?kq m|ksxksa dks c<+kok nsuk A
 csjkstxkjh fuokj.k ds fy, ljdkj }kjk fd;s x;s iz;kl %&
 eujsxk A
 ia-nhun;ky mik/;k; Jeso t;rs
 iz/kkuea=h dkS'ky fodkl ;kstuk
 iz/kkuea=h tu&/ku ;kstuk A
 eqnzk cSafdx vkfn A
foRrh; iz.kkyh
Financial System
foRrh; iz.kkyh esa lHkh O;fDr;ksa] laLFkkvksa vkSj ljdkjksa ds /ku ds m/kkjh ysus&nsus ;k /ku ds
vkiwfrZ djus dh izfdz;k tgka ij gksrh gS mls foRrh; iz.kkyh dgrs gSa A
Financial System
Money Market ¼eqnzk cktkj½ Capital Market ¼iw¡th cktkj½

 eqnzk cktkj vYidkyhu vof/k ds fy, fuf/k;ksa ds m/kkj ysus & nsus dk cktkj gSA le;
01 o"kZ ls de@iSlk fudkyuk vkSj tek djuk eqnzk cktkj dk fgLlk gSA okf.kfT;d
cSad] {ks=h; cSad] xzkeh.k cSad feydj eqnzk cktkj dk fuekZ.k djrs gSa A

 iwath cktkj e/;e vkSj yEcs vof/k;ksa ds fy, fuf/k;ksa ds m/kkj ysus&nsus dk cktkj gSA
fuos'k c<+kus ds fy, ,d cktkj Hkh iwath cktkj dk fgLlk curk gSA
Ex. – Stock exchange, Share market, Financial Institute form of capital market .
Function of Money
1- ewY; dk fu/kkZj.k
2- iwath dk fuekZ.k
3- fofue; dk lk/ku
Paper money :- dkxt dk gksxk ljdkj }kjk vf/kd`r ftldk okLrfod ewY;] vadu ewY; ls
de A
Type of money :-
1- ys[kkeqnzk
2- okLrfod eqnzk
IMF (Internation Monetary Fund)
SDR (Special Drawing Right fo'ks"k vkgj.k vf/kdkj) ;g IMF dh eqnzk gS] SDR dks
ys[kk eqnzk] isij eqnzk ;k d`f=e eqnzk Hkh dgrs gSa tks fd fuEufyf[kr eqnzkvksa ds lkewfgd ckLdsV
}kjk fu/kkZfjr gksrk gSA
US -$,
Britain-Pounds,
Eropean Unoin - Euro,
japan- Yen
China- yuan (Renminbi)
 oS/kkfud eqnzk & ljdkj }kjk vf/kd`r eqnzk Lohdkj djus gsrq ck/;A badkj djus ij n.M
dk izko/kku gSA
 Optional Money , Credit money ¼lk[k½ ,sPNhd eqnzk A
;s eqnzk izkIrdrkZ ij fuHkZj gS fd og Hkqxrku ds :i esa ysuk pkgrk gS ugha A
Ex. :- Phone pe, Cheque, DD

 og eqnzk ftldk vkarfjd /kkfRod ewY;] vadu ewY; ls de gks] lkadsfrd eqnzk
dgyk;sxkA
Ex. :- Hkkjrh; flDdk A
 fofHkUu cSadksa }kjk tkjh ATM Card – IykfLVd eqnzk
 tks rqjar fdlh eqnzk esa ifjofrZr(Convert) gks tk;s & Near eqnzk A
Ex. :- Gold
 Hard & Soft Curency :- India ruppe-soft hard – europ Eoro, US$, Pounds, yen .
 tgka profit ogka Transfer – hot money Ex. – FDI fons'kh fuos'k A
Central Bank ¼dsUnzh; cSad½

RBI Reserve Bank of India
1 April 1935 dks cuk By 1934 RBI Act LFkkiuk (RBI) ds iwoZ ;g futh cSad FkkA 1949
cSafdx jsxqys'ku Act bldk jk"Vªh;dj.k gqvk A
RBI ds dk;Z
ekSfnzd dk;Z %& lkekU; dk;Z (RBI) Reserve Bank of India Z

1- eqnzk dk NikbZ
2- ljdkj dks lykg] _.k
3- ljdkj dk cSad gS A
4- cSadksa dk cSad
5- Fore foreign Reserve dk laj{kd cSadksa dk fofu;eu djrh gSA
Hkkjrh; fjtoZ cSad Hkkjr dk dsUnzh; cSad gSA tks Hkkjr dh ekSfnzd uhfr dk fuekZ.k rFkk
fØ;kUo;u djrk gS rFkk Hkkjr ds lHkh cSadksa ds dk;ksZa dk fujh{k.k] fu;eu o fu;a=.k djrk gSA
1934 esa bldk fuekZ.k RBI ACT ds ek/;e ls fd;k x;k A 1 vizSy 1935 dks bldh LFkkiuk gqbZ
vkcknh ds ckn cSafdx fofu;eu vf/kfu;e 1949 ds }kjk bldk jk"Vªhdj.k fd;k x;k A

 ekSfnzdk dk;Z %& RBI Hkkjr esa eqnzk ds fuxZeu ds fy, vf/kdkj izkIr laLFkk gSA RBI 02
:i;s ls ysdj 2000:- ds uksVksa dk fuekZ.k djrh gSA
 orZeku le; esa RBI, Currency uksVksa dk fuxZeu ds fy, U;wure dks"k iz.kkyh dk vuqlj.k
djrh gSA
 bl iz.kkyh ds varxZr RBI ds 200 djksM+ :i;s ewY; dh lEifRr j[kuh iM+rh gSA ftlds
rgr~ 115 djksM+ :i;s ds Lo.kZ o vU; /kkrq rFkk 85 djksM+ :i;s ds fons'kh eqnzk Hk.Mkj
j[kuh iM+rh gSA
2- ljdkj ds vkSj cSad lykgdkj ds :i esa & fjtoZ cSad dk ,d izeq[k dk;Z dsUnz o jkT;
ljdkjksa ds lykgdkj :i esa dk;Z djuk gSA fjtoZ cSad buds [kkrksa dk izca/ku Hkh djrh gSA
;g Hkkjr ljdkj vkSj jkT; ljdkj ds fons'kh fofu;e dk izca/ku Hkh djrh gSA
3- cSadksa ds cSad ds :i esa %& RBI cSadksa ds cSad ds :i esa dk;Z djrh gSA tc Hkh fdlh cSad dks
_.k dh vko';drk gksrh gS rc RBI mls m/kkj miyC/k djkrh gSA
4- Hkkjrh; cSafdax O;oLFkk dk fofu;eu %& RBI Hkkjrh; cSafdx O;oLFkk dk fofu;eu djrh gSA
rFkk muds fy, uhfr;ksa (Policy) dk fuekZ.k djrh gSA RBI cSadks dk fu;a=.k] fu;eu o
fujh{k.k djrh gSA
5- fons'kh eqnzk ds laj{kd ,oa izca/kd ds :i esa %& RBI fons'kh eqnzk ds laj{kd o izca/kd ds :i
esa dk;Z djrh gSA RBI ns'k esa fons'kh eqnzk ds izokg dks fu;af=r djrh gSA rFkk fons'kh eqnzk dk
Hk.Mkj ds laj{kd ds :i esa dk;Z djrh gSA
6- lk[k fu;a=.k ¼Credit Control) – RBI cSadksa ds lk[k fu;a=.k dk dk;Z djrh gSA Credit
Control dk rkRi;Z cSadksa ds m/kkj nsus o m/kkj ysus dh {kerk dk fu;a=.k djrh gSA
 RBI ds lkekU; dk;Z %&
1- cSadksa ds i;Zos{kd ds :i esa %& RBI cSadksa ds i;Zos{kd dk dk;Z djrh gS rFkk mUgsa
ykblsal nsus dk dk;Z Hkh djrh gSA
2- cSadksa ds lek'kks/ku (clearing house) %& fjtoZ cSadksa ds lek'kks/ku dk dk;Z djrh gSA
bl dk;Z ds ek/;e ls cSadksa ds e/; ysu&nsu lqfo/kktud gks tkrk gSA

3- Collection Publication of Statistics :- ;g vkfFkZd vakdM+ksa dks ,df=r o izdk'ku
djrh gSA RBI okf"kZd vkdM+ksa] eqnzk lkFk cSafdax] foRr] d`f"k] vkS|ksfxd mRiknu vkfn
lacfa /kr vkadM+ksa dks ,df=r djrh gS o mudk izdk'ku djrh gSA
4- RBI varjkZ"Vªh; eqnzk dks"k ¼IMF) esa ljdkj dk izfrfuf/kRo djrh gSA
5- izorZu dk dk;Z %& RBI ns'k esa cSafdax flLVe esa yksxksa dks tksM+us ads fy, izksRlkfgd
djrh gS] izpkj&izlkj] djrh gSA
 ekSfnzdk uhfr@eqnzk izokg %& fdlh Hkh jk"Vª esa fofu;e O;ogkj eqnzk ds ek/;e ls gksrh
gSA eqnzk dh vfu;af=r ek=k vFkkZr~ mlesa gksus okyh mrkj p<+ko vFkZO;oLFkk esa
vfuf'prk dks c<+kok nsrh gS vFkkZr~ eSa vFkZO;oLFkk dks c<+kok nsrh gS vFkkZr~ esa eqnzk dks u
rks vf/kdrk gksuh pkfg, vkSj u gh deh gksuh pkfg, A blds lek/kku ds fy, dsUnzh;
cSad }kjk vFkZO;oLFkk esa eqnzk dh ek=k vFkkZr~ rjyrk ds fu;a=.k dks ekSfnzd uhfr dgrs
gSa A
 ekSfnzd uhfr dk mnn~s'; %&
1- vkfFkZd fLFkjrk ds lkFk vkfFkZd fodkl dks izkIr djuk A
2- dher fLFkjrk dks cuk, j[krs gq, ] eqnzk LQhfr dks fu;af=r djuk A
3- eqnzk ds fofue; njksa esa fLFkjrk ykuk A
 ekSfnzd uhfr dks iwjk djus ds ek/;e %&
ek=kRed fof/k
(A) ijEijkxr (B) xSj&ijEijkxr

(i) Bank Rate (i) LAF, (ii) MSF (iii) MSS
(ii) Open market operation
(iii) ifjorZu vkjf{kr vuqikr (Variable Reserve rate)
(A) ijEijkxr & nh?kZdkfyd _.k

(i) cSad nj (Bank Rate) :- cSad nj og C;kt nj gS ftlesa dsUnzh; cSad okf.kfT;d cSd
a ksa
dks nh?kZdkfyd m/kkj miyC/k djkrk gSA
(ii) Open market Operation ([kqys cktkj dh fØ;k) :- [kqys cktkj dh fdz;k varxZr RBI
cktkj esa ljdkjh vkSj fdz;k ds varxZr RBI cktkj esa ljdkjh vkSj uhft izfrHkwfr;ksa ds
dz; fodz; dk rkRi;Z gS fd tc fodz; fd;k tkrk gS rc cktkj esa rjyrk dk ek=k
?kV tkrh gSA tc dz; fd;k tkrk gS rc cktkj esa rjyrk c<+ tkrh gSA
(B) Variable reserve ration (ifjorZfu; vkjf{kr vuqikr½ %&

;g nks izdkj ds gksrs gS &
(a) CRR – Cash Reserve ratio (uxn dks"k vuqikr) CRR fdlh Hkh cSad }kjk RBI esa cSafdax
vf/kfu;e ds rgr dS'k ds :i tek dh xbZ jkf'k gSa CRR dk fu/kkZj.k RBI djrh gSA
2006 esa 3% ls 15% ds limit dks gVk fn;k x;k gSA bldk fu/kkZj.k RBI djrh gSA
(b) SLR - Statutory liquidity Ratio - ¼oS/kkfud rjyrk vuqikr½ lHkh oS/kkfud cSadksa
dks viuh laifRr dk ,d va'k vius ikl gh CRR ds vfrfjDr Lo.kZ] dS'k] fons'kh eqnzk]
Govt. Security, uxn ds :i esa tek djuk vfuok;Z gSA 2007 esa SLR dh U;wure
lhek 25% dks gVk fn;k x;k gSA vc bls RBI gh r; djrh gSA
(B) xSj&ijEijkxr & ¼vYidkfyd _.k½ & 1990 ds lq/kkjksa ds ckn xSj&ijEijkxr ek/;eksa dks
viuk;k x;k A ;g rhu izdkj ds gSa &
(i) LAF (ii) MSF (iii) MSS
(1) Liquidity Adjustment facility - ;g vYidkfyd lkekU;r% 7 ls 90 fnuksa ds fy, gksrk
gS A ;g nks izdkj ds gksrs gSa &
1- Rapo Rate
2- Reverse Rapo Rate

(i) Rapo Rate (RR) :- Rapo rate ;g nj gS ftlesa cSad vYidkfyd _.k izkIr djrh
gSA Rapo rate vf/kd gS rks cktkj esa eqnzk dh rjyrk ?kV tk,xh vkSj vxj Rapo
rate de gS rks rjyrk c<+ tk,xh A
(ii) Reverse Rapo rate (RRR) :- RRR og nj gS ftlea RBI }kjk fdlh okf.kfT;d cSad
ls _.k izkIr fd;k tkrk gSA
(2)MSS (Market stabilization scheme):- bldksa cktkj fLFkjhdj.k ;kstuk dgrs gSaA
vFkZO;oLFkk esa fons'kh eqnzk dh vf/kdrk gksus dh fLFkfr esa RBI }kjk rjyrk dks lks[kus
ds fy, Govt. Bond (Security) tkjh dh tkrh gSA
(iii) xq.kkRed fof/k

1- U;qure lhek (Margin) fu/kkZj.k & U;wure lhek dk gS ftlesa fdlh miHkksDrk dks fdlh
oLrq dks [kjhnus esa ;ksxnku nsuk gksrk gSA bldk fu/kkZj.k lkekU;r% RBI ;k cSadksa }kjk
fd;k tkrk gSA tSls & fdlh e'khu dks [kjhnusa ds fy, miHkksDrk dks dqN ek=k esa
U;wure /kujkf'k dk Hkqxrku Lo;a djuk iM+rk gSA
2- uSfr ncko %& RBI }kjk cSadksa ij uSfrd ncko cuk;k tkrk gSA og fdlh dk;Z dks djus
;k u djus ds fy, lykg iznku djrk gSA pwfa d RBI cSadksa dk cSad gS rFkk cSdksa dk
fofu;ked gS blfy, cSad RBI dh lykg dks Lohdkj dj ysrh gSA
3- lk[k Lohd`frdj.k ;kstuk %& blds rgr~ ,d fuf'pr lhek ds Åij fdlh ikVhZ dks
_.k nsus ij okf.kfT;d cSdksa dks fjtoZ cSad ls Lohd`fr ysuh iM+rh Fkh A bl O;oLFkk
dh vfuok;Zrk dks 1988 esa [kRe dj fn;k x;k A fdUrq RBI vHkh Hkh cM+s _.k ds ekeyksa
esa cSadksa ij utj j[krh gSA
4- lk[k dh jk'kfuax@fu;a=.k & blds ek/;e ls RBI ;g fuf'pr dj nsrh gS fd izR;sd
cSad fdrus _.k nsxsa ;k RBI izR;sd cSadksa dks fdruk _.k nsxh A
5- miHkksDrk _.k dk fofu;eu %& blds ek/;e ls miHkksDrk ds Ø; 'kfDr dks fu;af=r
fd;k tkrk gSA blds nks ek/;e gSa &

(i) U;wUre Hkqxrku
(ii) Hkqxrku dh vof/k
mnkgj.k & ;fn ge dksbZ dkj [kjhnrs gS rks mldh Down Paymen vkSj Hkqxrku dh
vof/k] igys ls r; dj nh tkrh gSA
6- izkFkfed {ks= dk lk[k fu;a=.k & RBI ds funsZ'kkuqlkj cSdksa }kjk vius dqy _.k dk 40%
izkFkfed {Ks= dks nsuk gksrk gSA ftls izkFkfed {ks= _.k dgrs gSa A bl {ks= esa d`f"k]
y?kq m|ksx] MSME, etnwj] efgyk,a] lgdkjh lfefr;ka vkfn vkrh gSA
Base Rate :- og vk/kkjHkwr nj gS ftlds uhps dksbZ Hkh cSad fdlh O;fDr dks _.k ugha
ns ldrh A bldk fu/kkZj.k cSad Lo;a djrh gSA
uksV %& 1955 bEihfj;y cSad dk jk"Vªhdj.k dj mls SBI cuk fn;k x;k A
1969 %& 14 cSd
a ksa dk jk"Vªhdj.k fd;k x;k A
1980 %& 6 cSadksa dk jk"Vªhdj.k fd;k x;k A
Banking
laxfBr vlaxfBr
RBI
{ks=h; cSad okf.kfT;d cSad lgdkjh cSad
ns'kh; fons'kh
futh lkoZtfud
Old Bank New BAnk
¼1990 ls igys cus½ ¼1990 ds ckn cus½
1- vuqlwfpr cSad %& vuqlwfpr cSad os cSad gSa ftudk iath;u RBI vf/kfu;e 1934 ds nwljh
vuqlwph esa fd;k x;k gks ;s cSad RBI esa iathd`r gksrs gSa] ykblsal izkIr gksrs gSa] o RBI ds
fofu;eu ds varxZr 'kkfey gksrs gSaA
budks fuEufyf[kr 'krsZa iwjh djuh gksrh gS%&
i. ikap yk[k :Ik;s dh iwath gksuh pkfg, A
ii. RBI ds funsZ'kkuqlkj RBI ds ikl CRR tek djuk pkfg, A
iii. RBI dks ;g lqfuf'pr gks dh fgr/kkjd dk vfu"V u gks A
2- xSj & vuqlwfpr cSad %& xSj vuqlwfpr cSad os cSad gksrs gS tks RBI vf/kfu;e 1934 ds
lwph esa 'kkfey ugha gSA
 lkoZtfud cSad %&
(a) SBI :- 1955 esa bEihfj;y cSad dk jk"Vªhdj.k djds SBI dk xBu fd;k x;k A ftlesa 7
cSad 'kkfey Fks A ftUgsa SBI lewg dgk x;k A ckn esa ftudk foy; gksdj 5 gks x, A
(b) 19 jk"Vªh; cSad %& 14 cSd
a ksa dk jk"Vªhdj.k 1969 esa fd;k x;k A blds ckn 1980 esa
vU; cSadksa dk jk"Vªhdj.k fd;k x;k A tks foy; ds ckn vc 19 jg x;s A
 {ks=h; cSad & Hkkjr esa cSafdax O;oLFkk xzkeh.k ;k nqxZe {ks=ksa rd ugha igqapus dh fLFkfr esa
{ks=h; cSad dk fuekZ.k fd;k x;k ] bu cSadksa ds }kjk fiNM+sa {ks= esa etnwj] fdlku o NksVs
O;oLkkf;;ksa dks cSafdax lsok,a iznku dh xbZ A 1975 esa dsydj lfefr ds lq>koksa ds
i'pkr~ vkSj {ks=h; cSadks dk fuekZ.k ugha fd;k x;k A
 lgdkjh cSad %& lgdkjh cSad dk rkRi;Z mu cSadksa ls gS ftlesa vkil esa feydj dqN
yksx _.k dk vknku&iznku djrs gSa A bu O;oLFkk esa cSad ds lnL;ksa }kjk tek Lohdkj
fd;k tkrk gS] o _.k miyC/k djk;k tkrk gSA ;g cSad cSafdax vf/kfu;e 1949 ds dqN
izko/kkuksa rFkk jkT;ksa }kjk cuk, x, jkT; dkuwuksa ds ek/;e ls fofu;fer gksrs gSa A ;s
rhu Lrj esa gksrs gSA %&
1- jkT; Lrj esa

2- ftyk Lrj esa
3- xzkeh.k Lrj esa A
vf[ky Hkkjrh; foRrh; laLFkk,a %&
1- NABARD (National Bank for Agriculture and rural Development) :- bldh LFkkiuk
1982 esa dh xbZ] ftldk eq[;ky;] eqacbZ esa fLFkr gSA bldk eq[; mn~ns'; d`f"k ,oa xzkeh.k
fodkl ds fy, foRr miyC/k djkuk gSA blesa 99% ljdkj dh rFkk 1% RBI dh
fgLlsnkjh gSA
2- SIDBI (Hkkjrh; y?kq m|ksx fodkl cSad) Small Industrial Development Bank of India ;g
cSad NksVs m|ksx dks foRrh; lqfo/kk iznku djus esa lgk;rk iznku djrh gSA NksVs m|ksxksa ds
LFkkiuk] fodkl lapkyu esa foRrh; lgk;rk iznku djrh gSA bldh LFkkiuk 1990 esa
y[kuÅ esa gqbZ A
3- EXIM BANK (Export-Import Bank of India) :- bldh LFkkiuk 1982 esa eqacbZ esa dh xbZ A
bldk mn~ns'; fu;kZrdksa rFkk vk;rdksa dks lgk;rk iznku djuk gS rFkk bldk de bu
lHkh foRrh; laLFkkvksa dk leUo; djuk Hkh gS tks vk;kr&fu;kZr dh izfdz;k esa foRrh;u ls
tqM+s gksrs gSaA
4- NHB (National Housing Bank) :- LFkkiuk eq[;ky; & ubZ fnYyh 1988 esa bldk dk;Z
vkokl laca/kh foRrh; lgk;rk iznku djuk gSA
5- IFCI (Industrial Financial Corporation of India Limited) :- LFkkiuk 1948 esa ;g e/;e
rFkk cM+s m|ksxksa dks _.k nsrh gS] ;g bUgsa e/;dkyhu vkSj nh?kZdkyhu _.k nsrh gSA
6- IIBI (Industrial Investment Bank of India) (Hkkjrh; vkS|ksfxd fuos'k cSad):- LFkkiuk &
1985 m|ksxksa ds iquZfuekZ.k ds fy, lgk;rk iznku djrh gSA
7- ICICI (Industrial Credit and Investment Corporaton of India) :- (Hkkjrh; vkS|ksfxd
,oa foRr fuxe) futh {ks= ds e/;e ,oa cM+s m|ksxksa dks foRrh;u ds fy, dk;Z djrh gSA
;g nh?kZ ,oa e/;dkfyd _.k iznku djrh gSA

 fizfVax izsl %& ukfld] gks'kaxkckn] nsokl] gSnjkckn] lgcuh (W.B.) eSljw A
 PSL (Priority Sector Lending- izkFkfed {ks= _.k) :- cSadksa dks foRrh; {ks= ds xzksFk]
dks c<+kus ds lkFk fodkl dk;ksZa dks Hkh c<+kus dh ftEesnkjh iznku dh xbZ gSA blh
mn~ns'; dks iwjk djus ds fy, dqN {ks=ksa dk fpUgkadu fd;k x;k gS] ftls izkFkfed
{ks= _.k dgrs gSaA RBI ds fu;eksa ds vuqlkj okf.kfT;d cSadksa (Private and Public)
vius fn, x, dqy _.k (Net Bank Credit) dk 40% izkFkfed {ks= dks _.k ds :i
esa iznku djuk jgrk gS rFkk Foreign Bank dks vius dqy _.k dk 32% PSL {ks=ksa
dks _.k nsuk gksrk gSA ftldk 12% _.k vk;kr&fu;kZr djus okyh laLFkkvksa dks
nsuk iM+rk gSA
PSL ds varxZr Jsf.k;ka %& d`f"k] f'k{kk] MSME (Micro, Small and Medium
INterprices) vkokl] HkkSfrd vkSj lkekftd volajpuk uohuhdj.k ÅtkZ vkfn A
dqy _.k (40%)
18% 10% 7.5% 4.5%

d`f"k lekt ds detksj oxZ MSME vU;
 NPA (Non Performing Assets) :- xSj fuLIknudkjh ifjlEifr;k¡ %& cSadksa }kjk fn;s x;s
_.k miHkksDrkvksa }kjk fdlh dkj.k o'k ugha ykSVkbZ tkrh gS rks cSad bls NPA ?kksf"kr djrs
gSa A NPA cSafdax O;oLFkk dks :?.k ¼chekj½ djrh gS rFkk vFkZO;oLFkk ds fy, gkfudkjd o
cks> gksrh gSa A
 NPA dk fu/kkZj.k %&
1- ;fn fdlh _.k dk 90 fnuksa rd C;kt rFkk ewy/ku dh iwfrZ u fd tk, rc mls
NPA dgsaxsa A

2- ekSle vk/kkfjr Qlyksa ds fy, ;fn nks ekSle rd fdLr dk Hkqxrku ugha fd;k x;k
gS rFkk nh?kZdkyhu Qlyksa ds fy, ,d Qly rd fdLr dk Hkqxrku u fd;k x;k gks
rks mls NPA dgsx
a Asa
 Sub Standard asset :- ;fn dksbZ ifjlEifRr 12 efgus rd NPA gksxh rc mls Sub
Standard Asset ekuk tk,xk A
 Doubtfull Asset :- ;fn dksbZ lEifRr 12 efgus ls vf/kd Sub Standard Asset gks
rc mls Doubtful Asset ekuk tk,xk A
 Loss Asset (gkfu ifjlEifRr) %& tc 12 efgus rd dksbZ _.k Doubtful Asset gksxk
rc mls dHkh Hkh Loss Asset ?kksf"kr fd;k tk ldrk gSA cSad }kjk
 csly ekud %& csly LohV~tjySaM esa fLFkr ,d LFkku gSA tgka fo'o esa fLFkt fjtoZ
cSadksa dk lEesyu cqyk;k x;k rFkk cSadksa }kjk fn, x, _.k esa tksf[ke dks de djus ds
fy, ekud fn, A vHkh rd 3 ckj csly ekud fn, x, gS A
Besal I – 1980 – 1997 esa viuk;k A
Besal II – 1999 - 2004 esa viuk;k A
Besal III – 2012 – vHkh rd Hkkjr us ugha viuk;k A

bu fn'kk funsZa'kksa ds vk/kkj ij cSadksa dks izR;sd o"kZ fn, x, _.k ds vuqikr esa
tksf[ke ds vk/kkj ij dqN iawath j[kuh iM+rh gS A ftls ladV ds le; esa mi;ksx fd;k
tk lds A
 CAR (Capital Adiquacy Ratio) ;k (Capital Adiquacy Standard) – izR;sd foRrh;
laLFkku }kjk viuh iwath vuqlkj _.k iznku fd;s tkrs gSa] iznku fd;s x, _.kksa esa
tksf[ke Hkh fufgr gksrk gSA bl tksf[ke dks /;ku esa j[krs gq, cSadksa }kjk fn, x, _.k
ds vuqikr esa tksf[ke QaM dk fuekZ.k fd;k tkrk gSA bls gh iwath i;kZIrrk vuqikr ;k
ekud dgrs gSa A

csly ds vuqlkj CAR 8% gS rFkk csly II ds vuqlkj CAR rFkk csly III ds vuqlkj CAR
11.5% gSA
 cSafdax lq/kkj %& 1990 ds vkfFkZd lq/kkjksa ds dz esa Hkkjr esa cSafdax lq/kkj Hkh fd, x,A
blh dze esa ujflEgu I lfefr 1992 esa rFkk ujflEgu II lfefr dk fuekZ.k ;k xBu
1997 esa fd;k x;k a ujflEgu lfefr us csly ekud dks viukus esa lq>ko fn;k rFkk
LAF, RR, RRR vkfn dks viukus dk lq>ko fn;k A bUgksusa vkaf'kd iwathxr ifjorZfu;rk
dk lq>ko fn;k FkkA
 foRrh; lekos'ku ;k vkfFkZd lekos'ku %& cSafdax ,oa foRrh; lqfo/kkvksa dks ns'k esa
vFkZO;oLFkk ds lHkh {ks=ksa rd ns'k ds lHkh LFkkuksa rd o lekt ds lHkh oxksZa rd
igq¡pkuk vFkkZr~ mUgsa vkfFkZd fodkl ds dze esa Hkkxhnkj cukuk gh foRrh; lekos'ku gSA
foRrh; lekos'ku vFkZ flQZ [kkrs [kqyokuk ugha gSA cfYd cSafdax@foRrh; lsokvksa tSls &
isa'ku chek] ljdkjh lgk;rk (lfClMh) dks yksxksa rd igqapkuk Hkh gSa rFkk mUgsa _.k
miyC/k djkuk Hkh foRrh; lekos'ku gSA
 foRrh; lekos'ku ds fy, fd;s x;s mik; %&
1- nqxZe {ks=ksa esa Hkh volajpuk dk fuekZ.k A
2- yksxksa dks cSafdax O;oLFkk ls tksM+uk ,oa foRrh; lqfo/kk,a iznku djuk A
3- izkS|ksfxdh dk fodkl djuk A
4- fgrxzkfg;ksa dh Hkkxhnkjh dks lqfuf'pr djuk A
 vkfFkZd lekos'ku esa ck/kk,a %&
1- cSafdax O;oLFkk dk o volajpuk dk xzkeh.k ,oa nqxZe {ks=ksa eas fodkl u gksuk A
2- xzkeh.k {ks=ksa esa vkt Hkh vlaxfBr {ks=ksa ls _.k fy;k tkrk gSA
3- xzkeh.k {ks=ksa esa xjhch o vf'k{kk A
4- futh {ks=ksa ;k cSadksa dk ykHk vk/kkfjr gksuk A
ii. iw¡th cktkj ;k iw¡th iz.kkyh
foRrh; iz.kkyh

eqnzk cktkj iw¡th cktkj
¼vYidkyhd½ ¼nh?kZdkyhd½
 iw¡th iz.kkyh %&

i. 'ks;j cktkj (izfrHkwfr cktkj) :- izfrHkwfr cktkj og cktkj gS ftlesa e/;e vof/k vFkok
nh?kZdkfyd le; ds fy, iw¡th dh O;oLFkk dh tkrh gSA blds fy, 'ks;j ckWM - _.k i= dk
mi;ksx fd;k tkrk gSA
Share Market
izkFkfed cktkj f}rh;d cktkj

PO- Initial Public Offer ([kjhnh fcdzh)
I. izkFkfed cktkj ds izdkj %&
i- Right Issue :- ftlds ikl igys ls fgLlsnkjh gS] mUgh dks fgLlsnkjh nsuk A
tSls & deZpkfj;ksa dks eSusftax cksMZ ds lnL;ksa dks A
ii- Private Placement :- turk dks nsdj E;wpy QaM ;k cSadksa dks fgLlsnkjh nsuk A
iii- Public Issue throue Prospectus :- vke turk (vke turk dks fuxZeu) dks
'ks;j cspukA
Share
Prefrence share Equity Share

(vf/keku va'k) (lerk va'k)

i. vf/keku va'k %& fdlh Hkh dEiuh }kjk vius ekfydkuk gd dk dqN va'k 'ks;j ds :i esa
iznku djus ls gSA vf/keku va'k esa vf/keku va'k ds /kkjd dks dEiuh }kjk iwoZ fu/kkZfjr :i ls
,d ek= esa ykHk ;k gkfu gksus ij Hkh fu/kkZfjr nj esa ykHk ;k gkfu gksus ij Hkh fu/kkZfjr nj
iznku fd;k tkrk gSA tSls & fdlh dEiuh us ;fn fdlh dks 8% dh nj ij vf/keku va'k cspk
gSA rc og dEiuh] dks fdruk ykHk gks ;k gkfu gks A
ii. lerk va'k :- fdlh Hkh daiuh esa ml va'k ds ek/;e ls ml va'k ds vuqikr esa LokfeRo
iznku fd;k tkrk gS A iwath o ykHk esa lerk va'k gksrk gS rFkk va'k ds vuq:i Hkkxhnkj gksrh
gSA
iii. _.k i= %& _.k i= dEifu;ksa ds fy, nh?kZdkyhd iwath vtZu dk ek/;e gSA _.k i= ds
ek/;e ls dEiuh _.k izkIr djrh gSA ;g ,d _.k gksrk gS] ;g ,d _.k gksrk gS] blesa 'ks;j
iznku ugha fd;k tkrk gSA _.k i= ,d fuf'pr ewY; dk Paper gksrk gSA ftlds ek/;e ls
_.k izkIr fd;k tkrk gSa blesa lqj{kk dh xkjaVh ugha gksrh gSA
iv. Bond :- ;g _.k i= dh rjg gh gksrk gS fdUrq blesa lqj{kk dh xkjaVh gksrh gSA
 ;fn dEiuh fnokfy;k gks tk,] rc izkFkfedrk ds vk/kkj ij /ku okilh dk dze bl
izdkj gksxk
1. Bond
2. _.k i=
3. vf/keku va'k
4. lerk va'k A
II. f}rh;d cktkj %& ,d ckj 'ks;j ds cktkj esa vkus ds i'pkr~ mlds dz; & fodz;
dh ifdz;k dks f}rh;d cktkj dgsaxsa A

Stock Exchange
1- ljdkjh izfrHkwfr cktkj %& tgka ljdkjh va'k] _.k i= ckaM ;k PSO dh [kjhnh &
fcdzh dh tkrh gSA og ljdkjh izfrHkwfr cktkj dgykrk gSA
2- vkS|ksfxd izfrHkwfr cktkj %& tgka futh va'k] _.k i=] ckaM vkfn dh [kjhnh&fcdzh dh
tkrh gS] og ljdkjh izfrHkwfr cktkj dgykrk gSA
 Stock Exchange :- tgka izkFkfed ,oa f}rh;d cktkj dh [kjhnh & fcdzh dh tkrh gS
mls Stock Exchange dgrs gSa A
 Bull (rstfM+;k) :- rstfM+;k og gksrk gS tks 'ks;j ekdsZV esa 'ks;j dks [kjhndj 'ks;j ds
nke dks c<+k nsrk gSA
 Bear (eanfM+;k) :- eanfM+;k og gksrk gS tks 'ks;j dks cspdj 'ks;j ds ekax dks de dj
nsrk gSA ftlls mldk ewY; ?kV tkrk gSA
 BSE (Bombay Stock Exchange):- Hkkjr ,f'k;k dk lcls iqjkuk LVkWd ,Dlpsat gSA
bldk eq[;ky; eqEcbZ esa gSA bldh LFkkiuk lu~ 1875 ds 09 tqykbZ dks gqbZ Fkh A BSE
esa yxHkx 5000 de dEifu;ka lwfpc) gSA
 NSE (National Stock Exchange) :- Hkkjr dk lcls cM+k vkSj rduhdh :i ls vxz.kh
LVkWd ,Dlpat
s gSA ;g eqEcbZ esa fLFkr gSA bldh LFkkiuk 1992 esa gqbZ Fkh A dkjksckj ds
fygkt ls ;g fo'o dk rhljk lcls cM+k LVkWd ,Dlpst
a gSA
 BSE dk lwpdkad Sensex gSA blesa TOP 30 dEifu;ksa ds 'ks;j esa mRkkj & p<+ko ds vk/kkj
ij lwpdkad dk fu/kkZj.k fd;k tkrk gSA
 NSE dk lwpdkad Nifty dgykrk gSA ftlesa TOP 50 dEifu;kssa dk 'ks;j esa mrkj&p<+ko
ds vk/kkj ij bldk fu/kkZj.k fd;k tkrk gSA
Residex :- bls National Housing Bank }kjk vyx&vyx {ks=ksa esa Hkwfe ds ewY; esa
mrkj&p<+ko dks crkrk gSA

 FDI (Foreign Direct INvestment) izR;{k fons'kh fuos'k :- tc fdlh ns' esa m|ksxksa ds
fuekZ.k vFkok foLrkj ds fy, fons'kh iwt
a h izR;{k :i ls fuos'k dh tkrh gS A rks mls
FDI dgrs gSA blds nks izdkj gS &
1. Brown field FDI :- igys ls LFkkfir fdlh Company ;k laLFkku esa mlds foLrkj ds
fy, fuos'k fd;k tk, rks mls Brown Field FDI dgrs gSa A
2. Green Field FDI :- tc dksbZ fons'kh fuos'k uohu :i ls fdlh m|ksx dk fuekZ.k dj
jgh gks rks mls Green Field FDI dgsx
a sa A
 FII (Foreign Institutional Investor) :- fons'kh fuos'kdksa }kjk Share Market ds ek/;e
ls Hkkjrh; vFkZO;oLFkk esa tks fuos'k djrs gSA mls FII dgrs gSA FII laLFkkxr fuos'k gksrk
gSA tSls & Mutual Fund, cSad]chek daiuh rFkk Hedge Fund }kjk fuos'k A ;g ykHk ij
vk/kkfjr fuos'k gksrk gSA vkSj ns'k esa vkfFkZd eanh vkSj vfLFkjrk dh fLFkfr esa bl fuos'k
dks gVk fy;k tkus ;k okil pys tkus dh laHkkouk jgrh gSA blfy, bls vlqjf{kr
fuos'k ekuk tkrk gSA
 Depositary Reciept :- Hkkjrh; m|ksxksa dks fons'kh iwath izkIr djus ds fy, fons'kksa ds
Share Market esa tks Reciept (i=) tkjh fd;s tkrs gSA mls Depositary Reciept dgk
tkrk gSA ;s nks izdkj ds gksrs gSa &
i. ADR (American Depositary Reciept)
ii. GDR (Global Depositary Reciept)
i. ADR - ;g vesfjdk ds Share Market ls /ku izkIr djus ds fy, tkjh fd;k tkus okyk
i= gSA
ii. GDR - ;g fofHkUu ns'kksa ds Share Market ls /ku izkIr djus ds fy, tkjh fd;k tkus
okyk i= gSA
 SEBI (Securities and exchange Board of India) LFkkiuk & 1988 esa dh xbZA ;g ,d
laoS/kkfud fudk; (Statutory Body) gS rFkk ;g v/kZU;kf;d laLFkk gSA ;g Hkkjrh; 'ks;j

ekdsZV ,oa iw¡th cktkj dh fofu;ked laLFkk gS rFkk 'ks;j ekdsZV ds fy, uhfr;ksa] fu;eksa
fl)karksa dk fuekZ.k ,oa fu;a=.k] fu;eu dk dk;Z djrh gSA
 blds dk;Z &
1- fuos'kdksa ds fgrksa dh j{kk djuk A
2- Inter trading ;k Insider trading ij jksd yxkuk A
3- izfrHkwfr cktkj ds yksxksa dks izf'kf{kr djuk yksxksa esa tkx:drk cukuk A
4- vlaxrrk ikus ij izfrca/k yxk ldrh gS tqekZuk yxk ldrh gSA
5- fl)karks]a uhfr;ks]a fu;eksa dk fuekkZ.k djuk A
 Hkkjrh; izfrLIk/kkZ vk;ksx (Competition Commission of India)
Hkkjr ljdkj dk ,d lkafof/kd fudk; gS tks izfrLi/kkZ vf/kfu;e 2002 ds izorZu ds
fy, mRrjnk;h gSA ekpZ 2009 esa bls fof/kor :i ls xfBr fd;k x;k FkkA
 blds dk;Z %&
1- fdlh ,d daiuh ds fdlh {ks= esa ,dkf/kdkj dks fu;af=r djuk A
2- ns'k esa izfrLi/kkZ dks cuk, j[kuk A lHkh fgr/kkjdksa ds fgrksa dh laj{k.k djuk A
3- cktkj esa izfrLi/kkZ dks cuk, j[kus fy, uhfr o fu;eksa dk fuekZ.k djukA a
 Future Market :- ok;nk cktkj ds varxZr ¼ok;nk cktkj½ nks i{kksa ds e/; Hkfo";
ds dz;&fodz; ds fy, le>kSrk dk gksuk A
 Comodity Future Market :- tc [kk| oLrqvkas ,oa dPps rsy ds dz; & fodz;
ds fy, le>kSrk gks A

jktdks"kh; uhfr
 lkoZtfud vk; %& ljdkj dks izkIr gksus okys vk; ls gSA ;g fofHkUu izdkj ds djksa
(izR;{k o vizR;{k) PSU }kjk izkIr vk; fofHkUu izdkj dh lqfo/kk,a iznku djus ij izkIr
gksrh gSA
 lkoZtfud O;; %& ljdkj }kjk fd;s tkus okys [kpZ dks lkoZtfud [kpZ dgrs gSA
fofHkUu izdkj ds dk;ksZa] fodkl dk;ksZ] lqj{kk es]a yksd iz'kklu] U;k;] f'k{kk es]a LokLF; esa
gksus okys [kpZ gksrs gSA
 ?kkVs dk ctV %& ?kkVs dk ctV ls rkRi;Z gS] tc O;; vf/kd o vk; de gks rks mls
?kkVs dk cktkj dgrs gSA tc O;;] vk; ls vf/kd gks A
**vk;&O;; dk ys[kk&tks[kk ctV gksrk gSA**
 fgukFkZ izca/ku %& ;g ?kkVs dh foRr O;oLFkk gS] ljdkj }kjk ctV esa gksus okys ?kkVs dks
ftl ek/;e ls ftl izdkj ls izca/ku fd;k tkrk gS] ;k foRrh;u fd;k tkrk gS] mls
fgukFkZ ica/ku dgk tkrk gSA
** blesa eq[;r% uksV Nki dj ?kkVs dk izca/ku fd;k tkrk gSA**
orZeku le; esa uksV Nki dj ?kkVs ds izca/ku dks ljdkj }kjk ugha viuk;k tkrk gSA
 jktdks"kh; uhfr dk mn~ns'; %& ¼ekSfnzd uhfr dk mn~ns'; Hkh ;gh gS½
vkfFkZd
1- vkfFkZd le`f) vkSj vkfFkZd fodkl ds ek/;e ls ns'k esa vkfFkZd fodkl dh izfdz;k dks
LFkkfir djuk A
2- vk; rFkk /ku ds forj.k dh vlekurk dks fu;af=r djuk A
3- ns'k esa O;kIr xjhch dks de djus dk iz;kl djuk A
4- ns'k esa jkstxkj dh fLFkfr dks c<+kok nsuk A
5- ns'k esa jktuhfrd o vkfFkZd fLFkjrk dks izkIr djuk A
6- jktdks"kh; uhfr ds ek/;e ls eqnzkLQhfr dks fu;af=r djuk A

 ekSfnzd uhfr ,oa jktdks"kh; uhfr ds varj
1- jktdks"kh; uhfr ljdkj ds ctV izfØ;k ds v/khu gksrh gS o blds Lohd`fr ds fy,
laln dh vko';drk gksrh gSA tcfd ekSfnzd uhfr RBI }kjk lapkfyr gksrh gSA
2- jktdks"kh; uhfr dk vFkkZr~ ;g vf/kd fLFkj gS tcfd ekSfnzd uhfr vfLFkj gSA
3- jktdks"kh; uhfr turk ds dz; 'kfDr dks izR;{k :i ls izHkkfor djrh gSA tcfd ekSfnzd
uhfr dk izHkko vizR;{k gksrk gSA
4- jktdks"kh; uhfr dk izHkko vf/kd fuf'pr gksrk gS tcfd ekSfnzd uhfr dk izHkko
vfuf'pr izdkj dk gksrk gSA
5- jktdks"kh; uhfr turk dks Rofjr izHkkfor djrh gS tcfd ekSfnzd uhfr turk dks
/khjs&/khjs ;k dzekxr izHkkfor djrh gSA
6- vkfFkZd eanh dh fLFkfr esa jktdks"kh; uhfr ekSfnzd uhfr dh rqyuk esa vf/kd izHkkoh gksrh
gSA
ctV %&
 ctV ,d Qzkalhlh 'kCn gS] ftldk vFkZ **peM+s dk FkSyk** gksrk gSA
 nqfu;k esa loZizFke ctV fczVsu esa lu~ 1733 esa rRdkfyd iz/kkuea=h o foRr ea=h **jkcVZ
okWy iksy** us izLrqr fd;k FkkA
 Hkkjr esa loZizFke lu~ 1860 esa **ykWMZ dSfuu** ds dk;Zdky esa lu **tsEl foYlu** us
ctV izLrqr fd;k FkkA
 Hkkjr esa loZizFke ctV **vkj- ds- "k.keq[ke psV~Vh** us 26 uoEcj 1947 dks is'k fd;k A
 ,DoFkZ lfefr ds lq>koksa ij lu~ 1921 esa loZizFke vyx ls jsy ctV izLrqr fd;k A
bls 2017 esa [kRe dj fn;k x;k A
 ctV dh ifjHkk"kk & O;ogkfjd 'kCnksa esa ctV ljdkj ds vk;&O;; dk ys[kk&tks[kk gksrk
gSA blesa ljdkj ds xr o"kZ ds vk;&O;; dh okLrfod fLFkfr] pkyq o"kZ esa vk;&O;; dk
la'kksf/kr vkdyu rFkk vkxkeh o"kZ ds fy, ctV dk vuqeku 'kkfey gksrk gSA lkFk gh

vkxkeh o"kZ ds lekftd] vkfFkZd fodkl ds dk;Zdze ,oa vk;&O;; ds ?kVkus&c<+kus ds
izLrko dk fooj.k gksrk gSA
 ctV ds izdkj &
1- ikjEifjd ctV %& ;g vkt ds vke ctV dk izkjafHkd Lo:i gSA bl ctV dk eq[;
mn~ns'; fo/kkf;dk dk dk;Zikfydk is fu;a=.k LFkkfir djuk FkkA bldk eq[; mn~ns';
vk; rFkk mlds fofHkUu enksa eas gksus okys O;; dks izLrqr djuk gSA ysfdu tks O;;
fd;k gS blds D;k ifj.kke izkIr gks jgs gSA bldk mYys[k blesa ugha fd;k tkrk gSA
2- fu"iknu ctV %& tc ctV esa fd;s tkus okys [kpZ ds vk/kkj ij mlds ifj.kke dk Hkh
o.kZu fd;k tkrk gS] rks bls dk;ZiwfrZ ctV ;k fu"Ikknu ctV dgrs gSA blesa flQZ
vk;&O;; dk ys[kk&tks[kk ugha gksrk cfYd blesa ifj.kke dks Hkh of.kZr fd;k tkrk gSA
vFkkZr~ fu"d"kZ dks ;k dk;Z fu"iknu dks ewY;kadu dk vk/kkj cuk;k tkrk gSA bl ctV
esa ljdkj D;k dj jgh gS fdruk dj jgh gSA bldk o.kZu Hkh fd;k tkrk gS Hkkjr esa
loZizFke 1968 esa ;g ctV izLrqr fd;k x;k A fo'o esa igyh ckj 1951 esa USA esa
dqij vk;ksx ds lq>ko ij fu"iknu ctV izLrqr fd;k x;k FkkA
3- Out Come Budget :- ;g ctV Hkh fu"Iknu ctV ds leku gSA fu"iknu ctV dk
fuekZ.k tgka foRr es=
a h djrk gS rFkk vkmVde ctV dk fuekZ.k fofHkUu foHkkxksa ds
ea=ky;ksa }kjk fd;k tkrk gSA bl ctVh; izfdz;k esa ctV dk ek=kRed o xq.kkRed
izxfr i= rS;kj fd;k tkrk gSA blds ek/;e ls ctVh; izfdz;k dk lekt ij iM+us
okys ldkjkRed o udjkRed izHkko dk vkadyu fd;k tkrk gSA
4- 'kwU; vk/kkfjr ctV %& bl ctV dk loZizFke mi;ksx 1970 esa ihVj ik;j us fd;k Fkk
A ftldk mn~ns'; lkoZtfud viO;; dks de djuk FkkA fdlh Hkh foHkkx ;k ea=ky;
}kjk izLrkfor O;; dks blesa 'kwU; dj fn;k tkrk gSA o blesa iqu% fopkj fd;k tkrk
gSA blesa ctV izfdz;k ij ;k fdlh Hkh en esa fd;s tkus okys [kpZ dk ewY;kadu fd;k
tkrk gS] o 'kwU; ekudj ctV ds egRo dks iqufu/kkZfjr fd;k tkrk gSA bl izdkj izR;sd
foHkkx izR;sd ckj 'kq: ls lc dqN 'kwU; ekudj ctV cukrk gSA o izR;sd O;; ds fy,
U;k;ksfpr vk/kkj izLrqr djrk gSA Hkkjr esa bl 1987&88 esa viuk;k x;k FkkA
5- tsM
a j ctV %& tsM
a j ctV dk vFkZ gS fd ljdkj }kjk efgykvksa ds fodkl]
l'kfDrdj.k] fodkl ;kstuk,a o dk;Zdze ds ek/;e ls fuf'pr jkf'k iznku djuk A blesa
ljdkj }kjk efgykvksa ds fy, fofHkUu enksa esa fd, tkus okys [kpZ dks Hkh izLrqr fd;k
tkrk gSA bldk loZizFke mi;ksx vkWLVªsfy;k esa lu~ 1984 esa fd;k x;kA
ctV
jktLo ctV iw¡thxr ctV
jktLo izkfIr jktLo O;; iw¡thxr izkfIr iw¡thxr O;;

dj xSjdj
izR;{k dj ¼vk;dj] fuxe dj½

vizR;{k dj ¼GST, mRiknu dj] lhek 'kqYd½
 dqy lkoZtfud vk; %& ljdkj dks fdlh foRrh; o"kZ esa izkIr gksus okys dqy ekSfnzd
izkfIr dks dqy lkoZtfud vk; dgrs gSa A blesa jktLo izkfIr vkSj iwathxr izkfIr dks
'kkfey fd;k tkrk gSA
 jktLo izkfIr %& jktLo izkfIr;k¡ os izkfIr;k¡ gSa ftlesa ljdkj ds Åij fdlh Hkh izdkj
dh nsrnkjh;ksa dk l`tu ugha gksrk gS vkSj u gh ifjlEifr;ksa esa fxjkoV gksrh gS] vFkkZr~
;s os izkfIr;k¡ gS ftUgsa ljdkj lkekU; xfrfof/k;ksa esa izkIr djrh gSA ;g nks izdkj ds
gksrs gSa &
(i) dj jktLo izkfIr %& ljdkj }kjk vkjksfir djksa ds ek/;e ls tks vk; izkIr gksrh gS
mls dj jktLo izkfIr dgrs gSaA blds varxZr feyus okyh izR;{k o vizR;{k dj dj
gSA

izR;{k dj & vk;dj] fuxe dj
vizR;{k dj & mRikn dj] lhek 'kqYd] lsokdj] GST.
(ii) xSj dj jktLo izkfIr %& dj ds vfrfjDr vU; lHkh ek/;eksa ls izkIr vk; dks
xSj&dj jktLo izkfIr;k¡ dgrs gSa A
mnkgj.k & C;kt] 'kqYd] vFkZn.M] uksV dh NIkbZ PSU ls ykHkka'k bR;kfn A
2- iw¡thxr izkfIr %& iw¡thxr izkfIr os izkfIr;k¡ gS ftlls ljdkj dks ns;rk dk l`tu gks jgk gks
A ;k fQj fdlh ifjlEifRr dh izkfIr ftlls ifjlEifr;ksa esa fxjkoV gks jgh gks A mnkgj.k &
fofuos'k] _.k dh owlyh] fons'kh _.k lgk;rk] Hkfo"; fuf/k] yksdys[kk [kkrs] isa'ku QaM RBI,
cktkj] vYi yksdys[kk [kkrs] isa'ku QaM o ckg~; _.k A
 dqy lkoZtfud O;; %& ljdkj dks fdlh foRrh; o"kZ esa gksus okys dqy ekSfnzd O;;
dks dqy lkoZtfud O;; dgrs gSA blesa jktLo O;; vkSj iw¡thxr O;; dks 'kkfey
fd;k tkrk gSA
(i) jktLo O;; %& jktLo O;; og O;; gS ftlesa fdlh Hkh ifjlEifRr;ksa dk l`tu
ugha gksrk gS] ;k fdlh izdkj dh ns;rk dk l`tu ugha gksrk gSA mnkgj.k & C;kt
Hkqxrku] j{kk O;;] jkT;ksa dks fn;k x;k vuqnku] fofHkUu ljdkjksa }kjk fn;k x;k
vuqnku] lkekU; lsok,¡ tSls & 'kklu] iz'kklu] iqfyl] U;k;ky; vkfn dk
lapkyu] lfClMh A
(ii) iw¡thxr O;; %& iw¡thxr O;; og O;; gS ftuls fdlh ifjlEifRr dk fuekZ.k
¼l`tu½ gks jgk gks ;k fQj ns;rk esa deh vk jgh gSA
mnkgj.k & fuos'k] _.k dk Hkqxrku] Hkwfe&Hkouksa e'khuksa dk fuekZ.k ;k fdlh dk
jk"Vªhdj.k fn;k x;k _.k A
**dj iz.kkyh**
1- izfrxkeh & izfrxkeh dj O;oLFkk og dj O;oLFkk gS ftlesa yksxksa dh vk; esa o`f) ds
lkFk dj ds nj esa deh dh tkrh gSA vFkkZr~ de vk; okys O;fDr ls vf/kd nj esa dj
ysuk rFkk vf/kd vk; okys O;fDr ls de nj esa dj ysuk A

dj esa
o`f)
vk; esa o``f)
2- izxfr'khy & izxfr'khy dj iz.kkyh og dj iz.kkyh gSA ftlesa vk; esa o`f) ds lkFk dj
ds njksa esa Hkh o`f) gksrh gSA vFkkZr de vk; okys ls de nj esa rFkk vf/kd vk; okys ls
vf/kd nj esa dj fy;k tkrk gSA
3- vuqikfrd %& vuqikfrd dj iz.kkyh og dj iz.kkyh gS ftlesa lHkh yksxksa ls leku nj

ij dj fy;k tkrk gS A
4- voØfed %& voØfed dj iz.kkyh og dj iz.kkyh gS ftlesa vkjafHkd Lrj esa izxfr'khy
dj iz.kkyh dks viuk;k tkrk gS rFkk ,d fuf'pr vk; ds ckn vuqikfrd dj O;oLFkk
dks viuk;k tkrk gSA Hkkjr esa ;g O;oLFkk izpfyr gS A

dj O;oLFkk
izR;{k dj %& izR;{k dj og dj gS ftls ftl ij yxk;k tkrk gS mlh ls og dj olqyk Hkh
tkrk gS vFkkZr~ izR;{k dj esa djkikr ,oa djk?kkr mlh O;fDr ij yxk;k tkrk gsA
 izR;{k dj ds izdkj %&
1- O;fDrxr vk; dj %& O;fDrxr vk;dj dk vFkZ fdlh O;fDr ds vk; ij yxk;s tkus
okys dj ls gSA Hkkjr esa vk; 1961 dks vk;dj vf/kfu;e ds ek/;e ls yxk;k tkrk gSA
2- fuxe dj %& fuxe dj ,d izR;{k dj gS tks daifu;ksa ds ykHk ij yxk;k tkrk gSA
fuxe dj dsUnz ljdkj }kjk yxk;k tkrk gS rFkk mlh ds }kjk ,df=r Hkh fd;k tkrk
gSA
3- lEifRr dj %& lEifRr ls dek, x, ykHk ij yxk;k tkus okyk dj laifRr dj
dgykrk gSA Hkkjr esa laifRr dj jkT;ksa dk dj gSA Hkkjr esa 2015&16 esa bls [kRe dj
fn;k x;k gSA
4- migkj dj %& fdlh izdkj ds migkjksa ij yxk;k tkus okyk dj migkj dj dgykrk
gSA migkj dj dks vk;dj ds lkFk 'kkfey fd;k x;k gS og fdlh izdkj ds migkj dj
dks O;fDr ds vk; esa 'kkfey dj fn;k x;k gSA
5- iw¡th ykHk dj %& fdlh Hkh foRrh; ifjlEifRr vkSj ifjHkwfr tSls & _.k dk 'ks;j] Hkwfe]
Hkou] ck.M] fMosUpj vkfn ds dz; ij gksus okys ykHk ij yxus okys dj iw¡th ykHk dj
dgykrk gSA ;g nks izdkj ds gksrs gSa &
(a) vYidkfyd iw¡th ykHk dj %& fdlh 'ks;j vkfn esa ,d lky ls de le; esa gksus okys
ykHk rFkk Hkweh vkfn iw¡th esa rhu lky ls de le; esa gksus okys ykHk ij yxus okys dj
dks vYdkfyd iw¡th ykHk dj dgrs gSa A
(b) nh?kZdkfyd iw¡th ykHk dj %& fdlh 'ks;j vkfn esa ,d lky ls vf/kd le; esa gksus
okys ykHk ij rFkk fdlh Hkwfe vkfn iw¡th esa rhu lky ls vf/kd le; esa gksus okys ykHk ij
yxus okys dj dks nh?kZdkfyd iw¡th ykHk dj dgrs gSa A

2- vizR;{k dj %& vizR;{k dj og dj gS ftlesa djkikr o djk?kkr vyx&vyx O;fDr;ksa ij
yxk;k tkrk gS vFkkZr~ ftl ij dj yxk;k tkrk gS tks dj ogu djrk gS] nksuksa fHkUu & fHkUu
gksrs gSa A
 vizR;{k dj ds izdkj %&
1- lhek 'kqYd %& lhek 'kqYd dk rkRi;Z ml 'kqYd ls gS tks fdlh oLrq ds fdlh ns'k esa
izos'k djus ij yxk;k tkrk gSA
2- mRikn 'kqYd %& fdlh oLrq ds mRiknu esa tks dj yxrk gS] mRikn 'kqYd gSA
3- lsok dj %& fdlh Hkh izdkj dh lsok iznku djus dh izfdz;k esa tks dj yxk;k tkrk gS
og lsok dj gksrk gSA Hkkjr esa loZizFke 1994&95 esa lsok dj yxk;k x;k A
4- ewY;of/kZr dj %& ;g ,d vizR;{k dj gSA tks mRiknu ls ysdj fcdzh ds izR;sd pj.k esa
gksus okys ewY; lao/kZu ij yxk;k tkrk gS A blesa dj dh x.kuk dk vk/kkj ewY; lao/kZu
gksrk gSA ,d oLrq ls nwljh cukus ij tks ewY; o`f) gksrh gS] mlh ij dj yxk;k tkrk
gS A
mngkj.k & xsgw¡ vkVk czsM
10 20 30
¼10 :i;s ij dj yxskx½ ¼Different ds 10 esa)
ctVjh ?kkVk ;k ctV ?kkVk %&
lkoZtfud O;; & lkoZtfud vk;
vk;
dqy O;; & dqy izkfIr;k¡
ctV ?kkVk = jktLo O;; $ iw¡thxr O;; &
jktLo vk; - iw¡thxr vk;
 larqfyr ctV & ctV vk; = ctV O;;
 vf/k'ks"k ctV & ctV izkfIr > ctV O;;
 ?kkVs dk ctV & ctV izkfIr < ctV O;;

jktLo ?kkVk dk laca/k ljdkj ds jktLo izkfIr o jktLo O;; ls gS a bl izdkj
jktLo ?kkVk]
jktLo O;; dh jktLo izkfIr;ksa ls vf/kdrk gSA jktLo ?kkVs esa dsoy ,sls ysu&nsu 'kkfey gksrs
gSa] ftusl ljdkj dh orZeku O;; o orZeku vk; izHkkfor gksrh gS A
 izHkkoh jktLo ?kkVk %& jktLo ?kkVk dk vFkZ gksrk gS jktLo O;; rFkk jktLo izkfIr ds e/;
dk vUrj A vr% jktLo ?kkVs esa dsUnz ljdkj ds os O;; Hkh 'kkfey gS tks jkT;ksa dsk vuqnku
ds ;i esa fn;s tkrs gS vkSj jkT; ljdkj bu vuqnkuksa dk i;ksx ifjlEifr;ksa ds l`tu esa
djrs gSa A bu ifjlEifr;ksa dk vuqRiknd ugha ekuk tk ldrk A ;g ,d izdkj ds iw¡th
dk fuekZ.k djrh gS A
**bl izdkj izHkkoh jktLo ?kkVk esa jkT;ksa }kjk ifjlEifr;ksa dk fuekZ.k djus okys O;;ksa
dks jktLo ?kkVs ls ?kVk fn;k tkrk gSA**
 izHkkoh jktLo ?kkVk %&
[jktLo O;; & ¼ifjlEifr;ksa dk fuekZ.k djus okys la?kh; vuqnku½] & jktLo vk;
 jktLo ?kkVk & ifjlEifRr;ksa dk fuekZ.k djus okys vuqnku
 jktdks"kh; ?kkVk (Fiscal Deficit) :- jktdks"kh; ?kkVk dk rkRi;Z dqy lkoZtfud O;; esa
ls m/kkj o ns;rkvksa dks NksM+dj dqy lkoZtfud dks ?kVk fn;k tk, rks jktdks"kh; ?kkVk
izkIr gksrk gS vFkkZr~ jktLo izkfIr;ksa rFkk xSj _.k iwathxr izkfIr;ksa ds ;ksx ij dqy
lkoZtfud O;; dh vf/kdrk] jktdks"kh; ?kkVk dgykrk gSA jktdks"kh; ?kkVk ljdkj dh
lEiw.kZ ns;rk dks iznf'kZr djrk gSA
 jktdks"kh; ?kkVk = dqy O;; ¼iwt
a hxr O;; $ jktLo O;;½ & m/kkj NksM+dj dqy izkfIr
¼jktLo izkfIr $ iwt
a hxr izkfIr½
 jktdks"kh; ?kkVkv & dqy lkoZtfud O;; & dqy lkoZtfud vk; ¼m/kkj o vU;
ns;rkvksa dks NksM+dj½
 jktdks"kh; ?kkVk = dqy O;; & izkfIr;k¡ $ ljdkjh nkf;Ro
 jktdks"kh; ?kkVk = jktLo ?kkVk $ ¼iw¡thxr O;; ns;rk u l`ftr djus okyh izkfIr;¡k½

jktdks"kh; ?kkVk ;g iznf'kZr djrk gS fd ljdkj dk [kpZ] mls ikl miyC/k vk; ls
dgha vf/kd gS vFkkZr~ ljdkj viuh vk; ls dgha vf/kd O;; dj jgh gS A bl izdkj
jktdks"kh; ?kkVk ljdkj ds dqy lkoZtfud _.k vFkkZr~ dqy ljdkjh nsunkjh esa gqbZ 'kq) o`f)
dks n'kkZrk gsA
 izkFkfed ?kkVk %& jktdks"kh; ?kkVk & C;kt Hkqxrku jktdks"kh; ?kkVs dk laca/k ljdkj ds
lHkh O;;ksa rFkk izkfIr;ksa ls gksrk gSA vr% blesa bl ckr dk /;ku ugha j[kk tkrk gS fd
fdruk ?kkVk pkyw foRrh; o"kZ dk gS A tSls & lkoZtfud _.k ij fd, tkus okys C;kt
dk Hkqxrku fiNys o"kZ ds ctVjh _.kksa ¼O;ogkjks½ dk ifj.kke gksrk gSA ftldk dksbZ
laca/k orZeku o"kZ ds ctVjh _.kksa ¼O;ogkjks½ ls ugha gksrk gS A
** blfy, pkyw o"kZ ds jktdks"kh; ?kkVs vkSj igys ls yhx xbZ m/kkfj;ksa ds C;kt
Hkqxrku ds varj dks izkFkfed ?kkVk dgrs gSaA**
 jktdks"kh; ?kkVs dk izHkko %& jktdks"kh; ?kkVs ds dkj.k ljdkj }kjk ns'k esa vk/kkjHkwr
lajpuk ds fodkl o lkekftd dY;k.kdkjh dk;ksZa ds fy, iz;kl fd;s tkrs gSA bl
izdkj jktdks"kh; ?kkVs ds dbZ udkjkRed izHkko Hkh fn[kkbZ nsrs gSa A
mnkgj.k %&
1- jktdks"kh; ?kkVs ds dkj.k vFkZO;oLFkk esa dqy fuos'k o dqy iwt
a h esa deh vk tkrh gSA
ftls ** dzkmfMax vkmV izHkko** dgrs gSa A
2- jktdks"kh; ?kkVs dh iwfrZ ds fy, ljdkj RBI ls _.k ysrh gS] ftlds dkj.k cktkj esa
eqnzk dh vkiwfrZ esa o`f) gksrh gS A ftlls eqnzkfLQfr c<+ tkrh gSA
3- ?kkVs dks iwjk djus ds fy, ljdkj vkarfjd o ckg~; _.k ysrh gSA ftlls jk"Vªh; _.k
esa o`f) gksrh gSA
4- _.k dh ek=k T;knk gksus ls varjkZ"Vªh; Lrj ij ljdkj dh fo'oluh;rk detksj gksrh
gSA
 jktdks"kh; lesdu %& jktdks"kh; lesdu og izfdz;k gS ftlds varxZr ljdkj vius
?kkVks dks de jdrh gSA bls fy, ljdkj vius jktdks"kh; uhfr esa vko';d cnyko

djrh gSA jktdks"kh; lesdu esa ljdkj u flQZ fofHkUu ?kkVksa tSls jktLo ?kkVk]
jktdks"kh; ?kkVk esa deh djrh gsA cfYd vius _.k dh ek=k esa Hkh deh djrh gSA
 ?kkVs dks de djus ds fy, fd, x, iz;kl &
1- lfClMh dks ;qfDr laxr cukuk A
2- osru] isa'ku ls mRiUu Hkkj esa deh djuk A
3- egaxs fons'kh _.kksa ls cpuk A
4- ?kkVs esa py jgs lkoZtfud midzeksa dk fofuos'k djuk A
5- isVªksy & Mhty dh lfClMh [kRed djuk A
6- jktLo vk; dks c<+kus ds fy, ljdkj us (VAT) ewY; loaf/kZr dj] GST oLrq ,oa lsok
dj] Direct Tax Code tSls lq/kkj fd;s A
7- ljdkj us 2003 esa FRBM ACT yk;k gSA ftlds ek/;e ls ?kkVksa dk de djus dk
iz;kl fd;k x;k gSA
 ghukFkZ izca/ku ;k ?kkVs dh foRr O;oLFkk & ljdkj }kjk ftu L=ksrksa ds ek/;e ls
ctVh; ?kkVs] jktLo ?kkVs rFkk jktdks"kh; ?kkVs dk izca/ku fd;k tkrk gS ;k A mls ?kkVs
iwjk djus dk iz;kl fd;k tkrk gSA mls ?kkVs dh foRr O;oLFkk ;k ghukFkZ izca/ku dgrs
gSA
lkekU;r% ljdkj RBI }kjk u, uksV vFkok flDds ;k vkarfjd vFkok ckg~; _.k ds
ek/;e ls ?kkVs dks iwjk djus dk dk;Z djrh Fkh A bls ghukFkZ izca/ku dk dk;Z djrh Fkh A
bls ghukFkZ izca/ku dgrs gSA fdUrq blds dkj.k ls vFkZO;oLFkk esa udkjkRed izHkko iM+rk gSA
rFkk eqnzkLQhfr esa o`f) gksrh gSA vr% 1977 esa bls lekIr dj fn;k x;k rFkk vFkksZik;
vfxze dh O;oLFkk dh xbZ A
vFkksZik; vxzhe ds izko/kku %&
1- ctV ?kkVs dks iwjk djus ds fy, ljdkj RBI ls _.k ys ldrh gSA
2- bl _.k ds fy, ljdkj RBI dks C;kt dk Hkqxrku djsxh A
3- bl _.k ij jsiks jsV ds cjkcj C;kt dk Hkqxrku djuk gksxk A

4- 90 fnuksa rd ljdkj dks bldk Hkqxrku djuk gksxk A
5- WMA esa _.k dh lhek fdruh gksxh] bldk fu/kkZj.k ljdkj o RBI feydj djsx
a sa A
 FRBM Act ¼jktdks"kh; mRrjnkf;Ro ,oa ctV izca/ku vf/kfu;e 2003½
jktdks"kh; ?kkVs ,oa jktLo ?kkVs ij fu;a=.k LFkkfir djus ds fy, ,d fof/kd iz;kl
FRBM Act 2003 ds ek/;e ls fd;k x;k A blds eq[; izko/kku fuEufyf[kr gS &
1- jktLo ?kkVs dks de djrs gq, 2008 rd GDP ds 0% rd ykuk A
2- jktdks"kh; ?kkVs dks de djrs gq, 2008&09 rd GDP ds 3% rd ykuk A
3- lkoZtfud _.k dks 9% ls vf/kd u j[kuk vkSj bls izro"kZ 1% de djrs gq, 9% rd
ykuk A
4- Hkkjr ljdkj vFkksZik; vfxze ds vfrfjDr fdlh vU; ek/;e ls _.k ugha ysxh A
5- dsUnz ljdkj vius jktdks"kh; O;oLFkk esa ikjnf'kZrk yk,xh A
6- bl O;oLFkk ds varxZr ljdkj izR;sd foRrh; o"kZ esa okf"kZd foRrh; fooj.k izLrqr djsxh]
ftlesa e/;kof/k jktdks"kh; uhfr dk fooj.k rFkk jktdks"kh; uhfr ds lac/a k esa fooj.k
izLrqr djsxh A
7- fo'ks"k ifjfLFkfr;ksa esa gh bu y{;ksa dk vfrdze.k fd;k tk ldrk gSA
vU; y{; %&
 izfro"kZ 0.5% rd jktLo ?kkVs esa deh djrs gq,] 2009 rd GDP ds 0% rd ykuk A
 jktdks"kh; ?kkVs dks izfro"kZ 0.3% deh djrs gq, 2009 esa 3% rd ykuk A
 QzkmfMax vkmV izHkko %&
;fn ljdkj ?kkVs dk ctV cukrh gS rks mldh iwfrZ ds fy, ljdkj vkarfjd _.k dk
izko/kku djrh gSA blds dkj.k ls vad rFkk foRrh; laLFkkuksa ds ikl rjyrk vFkkZr~ /ku dh
deh gks tkrh gSA ftlls C;kt njksa esa o`f) gks tkrh gSA rFkk futh {ks=ksa dk fuos'k izHkkfor
gksrk gSA ftlls futh {ks=ksa esa fuos'k de gks tkrk gSA

 vf/kHkkj (sercharge) %& ljdkj vfrfjDr dj laxzg djus ds f, fo'ks"k oxZ ds O;fDr;ksa
vFkok daifu;ksa ij vfrfjDr dj yxkrh gS] ftls vf/kHkkj dgrsg sA vf/kHkkj ,d
vfrfjDr 'kqYd gS tks dj ds Åij yxus okyk dj gSA lkekU;% vf/kHkkj izR;{k dj ij
yx;k tkrk gSA ¼1 djksM+ ls Åij ds dj ij 15% vf/kHkkj (dj) yxrk gSA½
 midj (Cess) %& fdlh fo'ks"k mn~ns'; dh iwfrZ ds fy, dj yxk;k tkus okyk dj gSA
;g izR;{k vkSj vizR;{k nksuksa izdk ds djksa esa yxk;k tkrk gSA blls feyus okys jkf'k
dks ml fo'ks"k mn~ns'; ij gh [kpZ fd;k tkrk gSA orZeku esa f'k{kk ds fy, 3% midj
LoPN Hkkjr midj 0.5% dh nj ls yxk;k tkrk gSA ;k tk jgk gSA
 dj mRIykodrk (Tax Buoyncy) :- jk"Vªh; vk; ,oa ldy ?kjsyw mRikn esa o`f) ds
lkFk laxzg esa ifjorZu ¼;k o`f)½ ds lkFk dj jktLo izkfIr esa tks ifjorZu gksrk gS] mls
dj mRIyko dgrs gSA vFkkZr~ jk"Vªh; vk; rFkk GDP dk dj jktLo izkfIr ds e/; ds
varZlca a/k dks dj mRIykodrk dgrs gSa A
 dj vip;u ;k dj pksjh (Tax Evasion) :- fdlh dj nkrk }kjk dkuwuh :i ls tks
dj ns; gksrk gS] mldk Hkqxrku u djuk vFkkZr~ dj pksjh dks gh dj vioap;u dgrs gSA
blesa vk; vFkok fuos'k dks tku cq>dj de vFkok xyr crk;k tkrk gSA vFkkZr~ Hkzed
tkudkjh iznku dh tkrh gSA dj vioap;u ,d xSj dkuwuh rFkk vkijkf/kd dk;Z gSA
 VSDl gSou (Tax Heave) :- ;g ,d ,slk ns'k gksrk gSA t gka fons'kh ukxfjdks]a
dEifu;ksa m|ksxksa ij dj dh ek=k vR;Ur de gksrh gS vFkok 'kwU; gksrh gSA VSDl gSou
ds :i esa ekWjh'kl] lkbizl tSls vusd ns'k gSA tks fuosf'kd iw¡th ls izkIr iw¡th ykHk ij
dksbZ Hkh iw¡th ykHk dj ugha yxrk gSA ;g fuos'k vkdf"kZr djus dk cM+k ek/;e gSA
 Laffer Curve :-

ykWQj doZ] dj dh nj esa o`f) ds lkFk dj jktLo e/; laca/k dks iznf'kZr djrk gSA
blds vuqlkj dj ds nj esa o`f) ds lkFk dj jktLo esa o`f) gksrh gSA fdUrq ,d lhek
ds ckn dj dh lhek esa o`f) djus ij dj jktLo esa deh gksus yxrh gSA yksx vf/kd
dj gksus ds dkj.k dj dk vioap;u djus yx tkrs gSA
vU; %&
 lafpr fuf/k %& vuqPNsn 266 (1) esa lafpr fuf/k dk izko/kku fd;k x;k gSA ljdkj }kjk
dj jktLo izkfIr] _.k vkfn ds ek/;e ls izkIr /ku blesa tekj djk;k tkrk gSA laln
}Kjk ikfjr fofu;ksx vf/kfu;e vFkok vuqiqjd vuqnku vf/kfu;e ds }kjk ljdkj lafpr
fuf/k dk mi;ksx dj ldrh gSA lafpr fuf/k ls [kpZ ds fy, laln ls vuqefr vko';d
gSA
 yksd ys[kk fuf/k %& vuqPNsn 266 (2) ds rgr~ bldk izko/kku fd;k x;k gSA lafpr
fuf/k ds vfrfjDr vU; lHkh jkf'k;ksa dks yksd ys[kk [kkrksa esa j[kk tkrk gSA tSls &
Hkfo"; fuf/k] cpr cSad] dke tek vkSj jk"Vªh; y?kq cpr fuf/k vkfn vkrs gSA bl [kkrs
ls [kpZ ds fy, ljdkj dks laln ls vuqefr ysus dh vko';drk ugha gksrh gSA ;s ,slh
izkfIr;k¡ gS tks ljdkj dh ugh gksrh gSA cfYd ljdkj nwljksa dks iznku djus ds fy,
vius ikl j[krh gS] ftls ckn esa ykSVkuh gksrk gSA
 vkdfLed fuf/k %& vuqPNsn 267 ds rgr~ bldk izko/kku fd;k x;k gSA blds varxZr
fdlh vkink rFkk vkdfLed ifjfLFkr;ksa ds fy, /ku ifjfLFkfr;ksa ds fy, /ku iznku
fd;k tkrk gSA blds ek/;e ls ljdkj foijhr ifjfLFkfr;ksa esa dk;Zokgh dj ldrh gSA
jk"Vªifr dh vuqefr ds ek/;e ls bl fuf/k ls [kpZ fd;k tkrk gSA fdUrq ckn esa laln
}kjk Lohd`fr izkIr djuk vko';d gSA
1- ,aVh Mafix M~;wVh %& ,aVh Mafiax M~;wVh fdlh fu;kZrd jk"Vª }kjk vR;f/kd ek=k esa
oLrqvksa dk fu;kZrd jk"Vª }kjk vR;f/kd ek=k esa oLrqvksa dk fu;kZrd dj vk;krd jk"Vª
esa Mai dj fn;k tkrk gSA ,slh fLFkfr esa Mad dh xbZ oLrq dk ewY; vk;frr jk"Vª vius
LFkkuh; m|ksxksa dks cpkusds fy, tks 'kqYd yxkrh gS] mls ,aVh & Mafiax M~;wVh dgrs gSA

2- dkmaVjv osfyax M~;wVh %& tc fdlh fu;kZrd jk"Vª esa lfClMh iznku djds fdlh oLrq
dk mRiknu ewY; de dj fn;k tkrk gS] ,slh fLFkfr esa vk;krd jk"Vª ml vk;frr oLrq
is tks 'kqYd yxkrh gSA mls dkmaVj csfyax M~;wVh dgrs gSA vk;kfrr jk"Vª }kjk ,slk
dk;Z vius m|ksxksa ds laj{k.k ds fy, fd;k tkrk gSA
foRr vk;ksx
vuqPNsn 280 esa foRr vk;ksx dk o.kZu gSA foRr vk;ksx dk fuekZ.k izR;sd ik¡p o"kZ esa fd;k
tkrk gSA t:jr iM+us ij ik¡p o"kZ iwoZ Hkh bldk fuekZ.k fd;k tk ldrk gSA ;g ik¡p lnL;h;
¼1$4½ laLFkk gSA blesa ,d v/;{k o pkj lnL; gksrs gSa A
foRr vk;ksx ds fuEufyf[kr dk;Z gksrs gSa &
1- dsUnz o jkT; ds e/; djksa ls izkIr vk; dk foHkktu A
2- Hkkjr ds lafpr fuf/k esa o`f) ds fy, lq>ko iznku djuk A
3- jktdks"kh; ?kkVs o jktLo ?kkVs esa deh ykus ds fy, lq>ko nsuk A
4- iapk;rh jkt laLFkkvksa (PRT) o 'kgjh Lo'kklh laLFkkvksa dks ljdkjh vuqnku iznku djus
ds fy, lq>ko nsuk A
5- PRT o 'kgjh Lo'kklu ds foRrh; vkRefuHkZjrk ds fy, lq>ko iznku djuk A
6- jk"Vªifr }kjk fn, x, dk;ksZa dks iw.kZ djuk A
uksV %& 15osa foRr vk;ksx ds v/;{k **uUn fd'kksj flag** (N.K.Singh) gSA
eqnzkLQhfr (Inflation)
oLrqvksa vkSj lsokvksa ds ewY; esa o`f) vFkkZr~ fderksa esa o`f) dks eqnzkLQhfr dgrs gSA blesa
eqnzk ds ewY; esa deh gks jgh gSA tSls & ,d O;fDr 2021 esa 10 :i;s esa 4 vke [kjhn ik jgk
gS A og 2022 esa 10 :i;s esa 2 vke [kjhn ik jgk gSA ,slh fLFkfr esa vke ds ewY; esa o`f) gks
jgh gS] ogha nwljh vksj eqnzk dh dz; {kerk esa deh gks jgk gSA vFkkZr~ eqnzk dk ewY; de gks jgk
gSA bls gh eqnzkLQhfr dgrs gSA
 eqnzkLQhfr = eqnzk ds ewY; esa deh rFkk oLrq ds ewY; esa o`f)
 dkj.k = cktkj esa rjyrk dh ek=k esa o`f)

Formula – oLrq dh ekax esa o`f) ( ) $ oLrq dh vkiwfrZ esa deh ( ) = dher esa o`f)
(eqnzkLQhfr)
 eqnzkLQhfr ds izdj %&
1- jsx
a rh gqbZ eqnzkLQhfr %& bls ean eqnzkLQhfr Hkh dgrs gSA rFkk vaxzsth esa Crepping
inflation dgrs gSa A tc eqnzk LQhfr dh nj 3% ls d ;k 3% ds cjkcj gks rc mls
jsx
a rh gqbZ eqnzkLQhfr dgrs gSA bl izdkj dh eqnzk LQhfr fodflr ns'kksa esa ik;h tkrh gSA
;g eqnzkLQhfr dk ean :i gSA
2- pyrh gqbZ eqnzkLQhfr %& ;fn eqnzkLQhfr dh nj 3% ls 10% ds e/; gks rc mls
pyrh gqbZ eqnzkLQhfr dgrs gSA bl izdkj dh eqnzhLQhfr fodkl'khy ns'kksa esa ik;h tkrh
gSA Hkkjr esa eqnzkLQhfr dh nj 7%-8% yxHkx gksrh gSA
3- nkSM+rh gqbZ eqnzkLQhfr %& ;fn eqnzkLQhfr dh nj 10% ls 20% ds e/; gks rc mls
nkSM+rh gqbZ eqnzkLQhfr dgrs gSA ,slh fLFkfr esa ljdkj dks jktdks"kh; fu;a=.k ds mik;
djus dh vko';drk gksrh gSA
4- dwnrh gqbZ eqnzkLQhfr %& ;fn dh nj 20% ls vf/kd gks tk, rc mls dwnrh gqbZ
eqnzkLQhfr dgsx
a saA
5- vfr eqnzkLQhfr %& ;fn eqnzLQhfr dh nj 100% ls vf/kd gks tk, rc mls vfr
eqnzkLQhfr dgsx
a sa A ,slh O;oLFkk oYMZ okj-I ds ckn teZuh esa lu~ 2000 esa ftEckEcs esa
rFkk 2016&17 esa osustq,y esa mRiUu gqbZ Fkh A
uksV %& vr% eqnzkLQhfr dh ek=k bruh gksuk pkfg, fd og vkfFkZd fodkl o vkfFkZd
le`f) dks cuk, j[ks vFkkZr~ blesa dksbZ udkjkRed izHkko u iM+s A
6- dksj eqnzkLQhfr %& tc [kk|; inkFkZ o bZa/ku dks NksMd
+ j vU; oLrqvksa ds vk/kkj ij
eqnzkLQhfr dh x.kuk dh tkrh gSA rc mls dksj eqnzkLQhfr dgrs gSa A
7- gSMykbu eqnzkLQhfr %& gSaMykbu eqnzkLQhfr og eqnzkLQhfr gS ftlesa Fkksd ewY; lwpdkad
a
ds vk/kkj ij ekfld :i ls vkadM+s tkjh fd;s tkrs gSa A

 eqnzkLQhfr dks izHkkfor djus okys dkjd %&
1- vkiwfrZ i{k eqnzkLQhfr
2- ekax dh o`f)
3- varjkZ"Vªh; Lrj ij izHkko
(a) ekax esa o`f) }kjk %& fdlh Hkh cktkj esa eqnzk ds izokg esa o`f) vFkkZr~ eqnzk dh ek=k esa
o`f) cktkj esa ekax dk fodkl djrh gSA ftlds dkj.k oLrqvksa ds fderksa esa o`f) gksrh
gSA
(b) O;; ;ksX; vk; esa o`f) %& ljdkj }kjk izR;{k djksa esa deh ;k Nwv ls yksxksa ds O;;
;ksX; vk; esa o`f) gks tkrh gS] ftlds dkj.k [kpZ djus ;ksX; vk; esa o`f) gksrh gS] tks
varr% ekax dks tUe nsrh gSA
(c) ljy ekSfnzd uhfr %& RBI }kjk ljy ekSfnzd uhfr;ksa dks viuk, tkus ls tSls & CRR
esa deh] SLR esa deh] jsiks jsV esa deh] cSad nj esa deh vkfn ds dj.k ls cktkj ls eqnzk
vkiwfrZ esa o`f) gksrh gS tks fd varr% eqnzkLQhfr dk dkj.k curh gSA
(d) lkoZtfud O;; esa o`f) %& tc ljdkj }kjk vf/kd O;; fd;k tkrk gSA rks og cktkj
esa eqnzk dh ek=k dks c<+k nsrk gS] vkSj eqnzk dh ek=k c<+x
s h rks eqnzk LQhfr esa o` f) gksxh A
(e) ljdkj }kjk turk ds _.k dk Hkqxrku %& ljdkj }kjk _.k ds Hkqxrku djus ls yksxksa
ds e/; /ku dh vkiwfrZ esa o`f) gksrh gSA tks fd varr% ekax dks c<+kok nsrh gSA tks fd varr%
ekax dh c<+kok nsrh gSA ftlls eqnzkLQhfr esa o`f) gksrh gSA
(f) jktdks"kh; uhfr ds izHkko %& ljdkj }kjk jktdks"kh; ?kkVk] jktLo ?kkVk ij vk/kkfjr
ctV cuk;k tk,xk rks og cktkj esa eqnzk dh vkiwfrZ dks c<+k nsrk gS] tks fd ekax dks c<+kok
nsrh gS o varr% eqnzkLQhfr dk dkj.k curh gSA
(g) tula[;k esa o`f) %& tula[;k esa o`f) ekax esa o`f) djrh gS A tks fd varr% eqnzkLQhfr
dk dkj.k curh gS A
B. vkiwfrZ i{k }kjk %&

(i) mRiknu ewY; easa o`f) %& fdlh oLrq ds mRiknu esa mi;ksx fd;s tkus okys dPps eky ds
ewY: ESA o`f)] mRiknu ewY; esa o`f) dk dkj.k curk gSA
(ii) mRiknu esa deh %& fdlh oLrq ds mRiknu esa deh gksus ds dkj.k ls cktkj esa ml oLrq
dh vkiwfrZ esa deh gks tkrh gSA vkiwfrZ esa deh gksus ls ewY;ksa esa o`f) gks tkrh gSA
(iii) vkS|ksfxd fookn %& m|ksxksa esa mRiUu gksus okys fooknksa ds dkj.k ls mRiknu dh ek=k
esa deh gksrh gS tks dh eqnzkLQhfr dk dkj.k curh gSA
(iv) izkd`frd vkink %& izkd`frd vkinkvksa ds dkj.k ls oLrqvksa dh vkiwfrZ esa leL;k mRiUu
gksrh gSA tks fd eqnzkLQhfr dk dkj.k curh gSA
(v) d`f=e Hk; mRiUu djuk %& tek[kksjh o vU; ek/;eksa ls oLrqvksa dh vkiwfrZ dks ckf/kr
djuk rFkk d`f=e Hk; mRiUu dj yksxksa esa ekax dks c<+kok nsus ls eqnzkLQhfr esa o`f) gksrh
gSA
(vi) Je esa o`f) %& Jfedksa ds osru esa o`f) mRiknu ewY; esa o`f) dk dkj.k curh gSA tks
dh varr% eqnzkLQhfr esa o`f) dk dkj.k gSA
C. vUrjkZ"Vªh; dkjd %& varjkZ"Vªh; dkjd tSls & bZa/ku ewY; esa o`f)] eanh] mRiknu esa deh]
vk;kr ewY; esa o`f) vFkok vf/kd fu;kZr] eqnzkLQhfr dks c<+kok nsrh gSA
 eqnzkLQhfr dk fofHkUu oxksZ ij izHkko %&
1- _.knkrk o _.kxzkgh & eqnzkLQhfr esa o`f) gksus dh fLFkfr esa _.kxzkgh dks ykHk rFkk
_.knkrk dks gkfu gksrh gS A tSls fd & ekuyksa dksbZ _.k xzkgh 100:- dk _.k ysrk gS
vkSj ml 100:- dh _.k ls 10:- izfr vke dh nj ls vke [kjhns rc 10 vke [kjhn
ldrk gSA vxj vxys fnu vke dk ewY; c<+dj 10:- gks tk, vkSj _.kxzkgh] _.knkrk
dks iSls okil dj ns rks og _.knkrk ml 100:- esa 5 vke [kjhn ik,xk A ,slh fLFkfr
esa _.knkrk dks gkfu gksxh A
2- mRiknd rFkk miHkksDrk %& eqnzkLQhfr esa o`f) gksus ls ekax esa o`f) gksrh gS ftldk
rkRi;Z gS fd mRiknd dks ykHk gksxk A eqnzkLQhfr ds dkj.k oLrqvksa ds ewY; esa o`f) gks
jgh gSA ftlls miHkksDrk dks gkfu gksxh A
3- fLFkj vk; rFkk ifjorZu 'khy vk; %& eqnzkLQhfr dh fLFkfr ea fLFkj vk; okys O;fDr;ksa
ds vk; dk ewY; de gks tkrk gS A vFkkZr~ eqnzk dk ewY; de gks tkrk gSA ftlls muds
vk; ds ewY; esa deh gks tkrh gSA ogh ifjorZu'khy vk; okys O;fDr;ksa dh vk;
eqnzkLQhfr esa o`f) ds lkFk c<+rh gSA mnkgj.k & isa'ku o HkRrs A
4- _.k i=] ckW.M o bfDoVh gksYMj %& _.k i= ckW.M /kkjd ,d fuf'pr le; esa fuf'pr
jkf'k izkIr djrs gSA tks eqnzkLQhfr dh fLFkfr esa mlds ewY; eaas deh gksus ds dkj.k ls
de ewY; ds gksrs gSA ogha 'ks;j gksYMj ,d rjg ls mRiknd gksrk gSA mldk mriknu
ij leku lerk va'k 'kkfey gksrk gS vkSj pq¡dh eqnzkLQhfr esa o`f) gksus ls mRiknd dks
ykHk gksrk gS A vr% 'ks;j gksYMj dks Hkh bl fLFkfr esa ykHk gksrk gSA
5- cpr %& cpr djus okyksa dks eqnzkLQhfr dh fLFkfr esa gkfu gksrh gS D;ksfd mudk cpr
fLFkj gksrk gSA
6- mRiknu rFkk miHkksx ij izHkko %&
A. eqnzkLQhfr esa o`f) gksus ds dkj.k ls ekax esa o`f/n gksrh gS A vr% miHkksx esa deh ns[kh
tkrh gSA fu;a=.k ds mik; eqnzkLQhfr ds fu;a=.k djus ds fy, RBI }kjk iz;ksx dh
tkus okyh lcls izHkkoh ek/;e ekSfnzd uhfr gS] ftlesa RBI, CRR, SLR, Reporate,
Bank Rate vkfn esa o`f) djrh gSA ftlds ek/;e ls cktkj esa eqnzk dh deh gks
tkrh gSA
B. foeqnzhdj.k esa eqnzk ds Legal Tender dks [kRe dj fn;k tkrk gSA ftlls eqnzk ds
mi;ksx esa deh vk tkrh gS D;skafd cktkj esa eqnzk dh deh gks tkrh gSA
C. jktdks"kh; uhfr %& ljdkj }kjk vuqi;ksxh O;; dks de djuk A ftlls eqnzk ds
izdkj dks jksdk tk lds A
D. ctV vf/k'ks"k %& ctV ?kkVs ds foijhr vxj ctV vf/k'ks"k dk izko/kku fd;k tk,
rks cktkj esa eqnzk dh eka=k dks fu;af=r fd;k tk ldrk gSA

4- O;kikj uhfr %& vxj fdlh oLrq dh ekax vf/kd gks vkSj mldh vkiwfrZ de gks
rks fons'kh vk;kr ds ek/;e ls vkiwfrZ dks c<+kdj eqnzkLQhfr dks fu;af=r fd;k
tk ldrk gSA
5- iz'kklfud mik;
a. Je uhfr dks rkfdZd
b. ewY; fu;a=.k
c. tek[kksjh vkfn ij fu;a=.k
 djksa esa o`f) %& ;fn djksa esa o`f) dh tk,] [kkldj izR;{k djksa esa rc yksxksa dh dz;
'kfDr de gksxh ftlls ekax esa deh gksxh A rFkk vizR;{k djksa esa o`f) ds ek/;e ls Hkh
eqnzkLQhfr dks fu;af=r fd;k tk ldrk gSA
 Hkkjr esa eqnzkLQhfr ds dkj.k %&
1- tula[;k dk vf/kd gksuk %& Hkkjr esa tula[;k cgqr vf/kd gSA ftl dkj.k ;gk¡
oLrqvksa dh ekax vf/kd cuh jgrh gSA ftlls eqnzk LQhfr esa o`f) gksrh gSA
2- vk;kr fuHkZjrk %& Hkkjr esa eqnzkLQhfr dk ,d cgqr cM+k dkj.k vk;kr ij fuHkZjrk
gksuk Hkh gSA fons'kksa ls vk;kr djus ij oLr,a egaxh gks tkrh gSA ftlls eqnzkLQhfr
esa o`f) gksrh gSA
3- mRiknu esa deh %& fdlh oLrq ds mRiknu esa deh ds dkj.k ls cktkj esa oLrqvksa esa
vkiwfrZ esa deh gks tkrh gSA vkiwfrZ esa deh gksus ds dkj.k oLrq ds ewY; esa o`f) gks
tkrh gS A ftlls eqnzkLQhfr esa o`f) gks tkrh gSA
4- vk; esa o`f) %& Hkkjr ,d fodkl'khy jk"Vª gS tks rsth ls fodkl dj jgk gsA yksxksa
ds ikl /ku esa o`f) gks jgh gSA ftl dkj.k ekax esa o`f) gks jgh gSA tks varr% eqnzk
LQhfr esa o`f) dk dkj.k curh gSA
5- mRiknu ewY; esa o`f) %& Hkkjr esa lkekU;r% vHkh dksjksukdy esa ns[kk tk ldrk gS
fd mRiknu esa iz;qDr dPps eky dh vkiwfrZ ckf/kr gqb A ftl dkj.k mRiknu ewY;
esa o`f) gqbZ A tks eqnzkLQhfr esa o`f) dk dkj.k gS A

6- izkd`frd vkink %& Hkkjr esa izkd`fr vkink,a vkrh gh jgrh gSA tSls ck<+] lqukeh]
lq[kk vkfn A izkd`frd vkinkvkas ds dkjd ls oLrqvksa dh vkiwfrZ esa leL;k mriUu
gksrh gS tks dh eqnzkLQhfr dk dkj.k curh gSA
dqN izeq[k ifjHkk"kk,¡ %&
 eqnzk viLQhfr %& ;g eqnzkLQhfr dks fu;a=.k esa ykus dh voLFkk gSA ftlds rgr dherksa
dks ?kVk dj lkekU; djus dk iz;kl fd;k tkrk gSA blesa eqnzkLQhfr dh nj de gks
tkrh gSA fdUrq ldkjkRed cuh jgrh gSA vFkkZr~ blesa eqnzkLQhfr dh nj mPpre lhek
izkIr dj tc ?kVus yx tkrh gSA rks mls eqnzk viLQhfr fLFkfr dgrs gSA
 eqnzk voLQhfr %&tc eqnzkLQhfr dh nj udkjkRed gks tkrh gS rc ml fLFkfr dks eqnzk
voLQhfr dgrs gSA blesa ekax esa deh ds dkj.k ls oLrqvksa dh dherksa esa deh gks tkrh
gSA blesa eqnzkLQhfr dh nj 'kwU; ls uhps pyh tkrh gSA ;gh eqnzk voLQhfr gSA
 eqnzk laLQhfr %& tc eqnzkLQhfr dh nj udkjkRed gks tkrh gS fdUrq mlesa /khjs&/khjs
deh gksus yxrh gSA fdUrq og udkjkRed gh gksrh gSA ,slh fLFkfr dks eqnzk laLQhfr
dgrs gSA
 Stagflation (eqnzkLQhfr tfur eanh) :- tc vFkZO;oLFkk esa eanh ,oa LQhfr nksuksa dh
fLFkfr vFkkZr~ csjkstxkjh o eqnzkLQhfr lkFk&lkFk pys rks mls eanhxr eqnzkLQhfr dgrs
gSA Stagflation dh fLFkfr esa eqnzkLQhfr dh nj Å¡ph] vkfFkZd le`f) dh nj fuph]
rFkk csjkstxkjh dh nj vf/kd gksrh gSA
 fQfyIl odz (Philips Curve) :- fQfyIl odz eqnzkLQhfr dk csjkstxkjh nj ds lkFk
laca/k dks iznf'kZr djrh gSA ;g lac/a k udkjkRed fLFkfr esa gksrk gS vFkkZr~ eqnzkLQhfr dks
nj vf/kd gksrh gS rks csjkstxkjh dh nj de gksxh rFkk eqnzkLQhfr dh nj de gksxh rks
csjkstxkjh dh nj vf/kd gksxh A ;s nksuks ,d nwljs ds O;qRdzekuqikrh gksrs gSA
 eqnzkLQhfr dk ekiu vFkok lwpd %&
1- Fkksd ewY; lwpdkad %& Whole sale Price Index Fkksd ewY; lwpdkad oLrqvksa ds Fksd
ewY; esa ifjorZu dks iznf'kZr djrh gSA Fkksd ewY; lwpdkad dks okf.kT; ,oa m|}ksx

ea=ky; ds vkfFkZd lykgdkj ds dk;Zky; }kjk tkjh fd;k tkrk gSA blesa 697 oLrqvksa
dks 'kkfey fd;k x;k gSA blesa lsokvksa dks 'kkfey ugha fd;k x;k gSa tks bldh cgqr
cM+h deh gSA ftlds dkj.k ls ;g okLrfod ewY; dks izkIr djus esa vlQy jgrh gSA
oLrqvksa dk izdkj oLrqvksa dh la[;k Hkkjka'k
1- izkFkfed 117 25%
2- bZa/ku 16 13%
3- fofuekZ.k 564 64%
697
bZa/ku dk Hkkjka'k WPI esa 'kkfey oLrqvksa ds Hkkjka'k dh ek=k vf/kd gS ftl
dkj.k bZa/kuksa ds ewY; ea ifjorZu esa WPI esa vf/kd ifjorZu ns[kk tkrk gSA WPI dks lu~ 1942
esa 'kq: fd;k x;k FkkA
3- miHkksDrk ewY; lwpdkad (Consumer Price Index) :- miHkksDrk ds Lrj ij Hkkjr ds yksxksa
}kjk izfrfnu mi;ksx esa yk;h tkus okyh oLrqvksa vkSj lsokvksa ds ewY; esa o`f) vFkkZr~ eqnzkLQhfr
dh x.kuk dh tkrh gSA mls miHkksDrk ewY; lwpdkad dgrs gSA Hkkjr esa fofo/krk dks /;ku esa
j[krs gq, fuEufyf[kr miHkksDrk ewY; lwpdkad tkjh fd;s tkrs gSa &
1- CPI J(IW) vkS|kSfxd Jfed %& vkS|ksfxd Jfedksa }kjk [kjhns tkus okys oLrqvksa dks
/;ku esa j[kdj tc CPI dks fuekZ.k fd;k tkrk gSA rc mls CPI (IW) dgrs gSa A
blesa 370 oLrqvksa dks 'kkfey fd;k x;k gSA
2- CPI (AL) :- d`f"k etnwjksa dh vko';drkvksa dks vFkkZr~ muds }kjk [kjhns tkus okys
oLrqvksa dks /;ku esa j[kdj CPI dk fuekZ.k fd;k tkrk gsa rc mls CPI (AL) dgrs gSA
blesa 260 oLrqvksa dks 'kkfey fd;k x;k gSA
3- CPI (RL) :- xzkeh.k etnwjksa ds }kjk tkus okys oLrqvksa ds vk/kkj ij CPI dk fuekZ.k
fd;k tk, rc mls CPI (RL) dgrss gSA blesa 260 oLrqvksa dks 'kkfey fd;k x;k gSA

uksV%& mijksDr rhuksa lwpdksd
a dks Je C;qjks tkjh djrk gSA Je C;qjks] ea=ky; ds varxZr
vkrk gSA
 CPI (R) (Rural) :- ;g xzkeh.k {ks=ksa esa eqnzkLQhfr ds mrkj&p<+ko dks n'kkZrk gSA
 CPI (U) (Urban) :- ;g 'kgjh {ks=ksa esa eqnzkLQhfr ds mrkj&p<+ko dks n'kkZrk gSA
 CPI (R+U) :- ;g 'kgjh rFkk xzkeh.k vFkkZr~ vf[ky Hkkjrh; Lrj ij eqnzkLQhfr ds
mrkj&p<+ko dks n'kkZrk gSA
uksV %& budh x.kuk SCO (dsUnzh; lkaf[;dh dk;kZy;) djrk gSA
 budh x.kuk SCO (dsUnzh; lkaf[;dh dk;kZy;) djrk gSA
 mRiknd ewY; lwpdkad %& mRikn ds Lrj ij Hkkjr esa izfrfnu mi;ksx esa yk;h tkus
okyh oLrqvksa ,oa lsovksa ds ewY; esa o`f) vFkkZr~ eqnzkLQhfr dh x.kuk blesa dh tkrh gSA
blesa oLrqvksa rFkk lsokvksa nksuska dks 'kkfey fd;k tkrk gSA
vkfFkZd lq/kkj
200 o"kksZa ds vkSifuosf'kd 'kks"k.k ds i'pkr~ 15 vxLr 1947 dks Hkkjr vius vkS|ksfxd
uhfr ds fuekZ.k ds fy, Lora= gks pqdk FkkA fdUrq bl Lora=rk ds i'pkr~ Hkkjr ds le{k
vusdksa leL;k,a O;kIr Fkh tSls & dfBu la?k"kZ ds i'pkr~ feyh Lora=rk vkSj laizHkqRrk dks cuk;s
j[kuk] uo mifuos'kokn 'kks"k.k ls cpuk rFkk ns'k dh ,drk o v[k.Mrk dks lqfuf'pr djrs
gq, vkfFkZd le`f)] vkfFkZd fodkl o tudY;k.k ds y{; dks izkIr djuk A
 leL;k,¡ %& f}rh; fo'o ;q) ds ckn lEiw.kZ fo'o nks egk'kfDr;ksa la;qDr jkT; vesfjdk
o lksfo;r la?k ds e/; foHkkftr Fkh A nksuska ds e/; pyus okys 'khr ;q) vFkkZr
iwathokn o lektokn ds e/; opZLo dh yM+kbZ esa foHkkftr Fkh A ;g ,d oSpkfjd ;q)
Fkka ,slh ifjLFkfr esa Hkkjr ds le{k iw¡thokn vFkok lektokn esa ls fdlh ,d dks
viukus dh oSf'od ncko Fkka
oLrqr% Hkkjr vHkh & vHkh Lora= gqvk FkkA vr% og vius vkfFkZd fodkl ds fy, fdlh
,d oSf'od 'kfDr dk leFkZd cu ldrk Fkk fdUrq Hkkjrh; usr`Ro us bls viuh lEizHkqrk ij

pksV le>k o ,d Lora= vkfFkZd uhfr dks viukus dk fu'p; fd;k A ftlesa Hkkjr iw¡thokn o
lektokn ds fefJr Lo:i vFkkZr~ fefJr vFkZO;oLFkk dks viuk;k A
uohu Lora= gq, jk"Vªksa ds e/; uo mifuos'k ckn ds pfj= esa Qalus dh laHkkouk FkhA
D;ksfa d ;s uohu jk"Vª vkS|kSfxd o vkfFkZd :i ls detksj Fks A ,slh fLFkfr esa Hkkjr us fons'kh
lgk;rk dks vLohdkj djrs gq, ] vkRefuHkZj vFkZO;oLFkk dh vksj vxzlj gqvk o vkaf'kd :i ls
[kqyh vFkZO;oLFkk dks viuk;k A blesa fuEu phtsa 'kkfey Fkh &
1- ftu phtksa dk mRiknu Hkkjr esa ugha gksrk gS] mudk gh vk;kr djuk A
2- ftu phtksa dk mRiknu Hkkjr esa gksrk gS muesa vkRefuHkZj cuuk o mudk vk;kr
izfrcaf/kr djuk A
3- ftu phtksa dk vf/k'ks"k gS mudk fu;kZr djuk A
Hkkjr vius vkfFkZd le`f)] vkfFkZd fodkl o tudY;k.k ds mn~ns'; dks izkIr djus ds
fy, fefJr vFkZO;oLFkk dks viuk;k A ftldk eq[; >qdko lektokn dh vksj FkkA bl fefJr
vFkZO;oLFkk esa bu y{;ksa dks izkIr djus dh ftEesnkjh lkoZtfud {ks= ds miØeksa dks fn;k x;k
A vFkkZr~ lkoZtfud {ks= dks Hkkjr ds fodkl dk usr`Ro lkSaik x;k rFkk fu;a=.k iznku fd;k
x;k A blh dks /;ku esa j[krs gq, Lora= Hkkjr dh ljdkj us vkS|ksfxd uhfr dh ?kks"k.kk dh A
 1948 dh vkS|ksfxd uhfr %& Hkkjr ds izFke o rRdkyhu m|ksx ea=h ';kek izlkn eq[kthZ
}kjk vkS|ksfxd uhfr dh ?kks"k.kk 6 vizSy 1948 dks dh A bl vkS|ksfxd uhfr esa Hkkjrh;
vFkZO;oLFkk ds Lo:Ik Hkkjr ljdkj us fefJr ,oa fu;af=r vFkZO;oLFkk ds vkfFkZd fopkj
dks Lohdkj fd;k ftldk :>ku lektokn dh vksj Fkk A blesa vkS|ksfxd fodkl ds
fy, lkoZtfud ,oa uhfr {ks=ksa dh vksj /;ku fn;k x;k bl ekWMy esa lkoZtfud {ks=ksa dks
usr`Rodkjh Hkwfedk rFkk futh {ks=ksa dks lgk;d dh Hkwfedk esa j[kk x;k a lkoZtfud {ks=ksa
dh u dsoy fons'kh izfrLi/kkZ vfirq vkarfjd izfrLi/kkZ ls Hkh ljaf{kr j[kk x;k vFkkZr~
bl O;oLFkk esa lkoZtfud {ks=ksa ds laj{k.kokn dh uhfr dks viuk;k x;k A
 1956 dh vkfFkZd uhfr %& tkoknh esa dkaxzsl lEesyu ds i'pkr~ Hkkjr esa lektokn }kjk
yksdrkaf=d y{;ksa dks izkIr djus o yksddY;k.k ds y{;ksa dks izkIr djus dk y{;
Lohdkj fd;k x;k A blh dks /;ku esa j[krs gq, 1956 ds vkS|ksfxd uhfr dk fuekZ.k
fd;k x;k 1956 esa Hkkjr esa lektokn uhfr ds :i esa Lohdkj fd;k x;k A blesa
m|ksxksa dks 3 :iksa esa ckaVk x;k &
1- izFke vuqlwph blesa 17 {ks=ksa ¼m|ksxks½a dks j[kk x;k a ftlds Hkkoh fodkl dh iwjh
ftEesnkjh ljdkjh {ks=ksa dks fn;k x;k ,oa Hkkjh o iwt
a hoknh m|ksx 'kkfey Fks A
2- nwljh vuqlwph %& blesa 12 {ks=ksa dks 'kkfey fd;k x;k tks /khjs&/khjs ljdkj ds LokfeRo
esa vk lds A bu {ks=ksa esa u, m|ksx [kksyus dh igy ljdkj djsxh A ysfdu futh
m|ksx [kksyus dh igy ljdkj djsxh A ysfdu futh m|ksifr;ksa dks ;g volj fn;k
tk,xk fd os Lo;a vFkok ljdkj ds lgk;skx ds m|ksx [kksy ldrs gSa A
3- r`rh; vuqlwph %& bl lwph esa 'ks"k lHkh m|ksxksa dks j[kk x;k tks mijksDr lwfp;ksa esa
'kkfey ugha Fks A buesa eq[;r% miHkksx dh oLrq dks 'kkfey fd;k x;k A bl {ks=ksa ds
fodkl ds fy, futh {ks=ksa dks ftEesnkjh lkSaih xbZ A
 vkS|ksfxd uhfr 1977 %& 1977 esa turk ny dh ljdkj us vius vkS|ksfxd uhfr dh
?kks"k.kk dh oLrqr% ;g vkS|ksfxd uhfr dh ?kks"k.kk dh oLrqr% ;g vkS|ksfxd uhfr lRrk
ifjorZu ds ifj.kke Lo:i vk;h Fkh] fdUrq bldk >qdko lektoknh] xk¡/khoknh fopkj dh
vksj Fkk A bldh eq[; fo'ks"krk,a fuEu Fkh &
1- lkokkZtfud {ks= dh Hkwfedk esa 1956 dh uhfr dks Lohdkj fd;k x;k A
2- y?kq ,oa dqVhj m|ksx ds fodkl dks c<+kok nsuk A m?kq ,oa dqVhj m|ksxksa ds fodkl
ds fy, ftyk fodkl cksMZ dh LFkkiuk djuk A [kknh ,oa xzkeh.k oLrqvksa ds mi;ksx
dks c<+kok nsuk A
 vkS|ksfxd uhfr 1980 %& dkaxzsl dh u;h ljdkj vkus ds i'pkr~ vkS|ksfxd uhfr 1980
dh ?kks"k.k dh xbZ a ftlesa vkS|ksfxd uhfr 1956 dks vk/kkj ekurs gq, lkoZtfud {ks=ksa ds
fodkl ,oa cy fn;k x;k A o blds lkFk gh dqVhj m|ksx o y?kq m|ksx o y?kq m|ksxksa
o e/;e m|ksxksa ds fodkl dh vksj /;ku fn;k x;k A bl uhfr esa MRTP ACT dh
lhek dks c<+kdj 50 djksM+ fd;k x;k A

 vkS|ksfxd uhfr 1986 %& blesa MRTP ACT dh lhek dks c<+kdj 100 djksM+ dj fn;k
x;k A rkfd lcl mijksDrkuqlkj gSA
 1948 ls 1990 ds vkS|ksfxd uhfr ds fodkl dh fo'ks"krk,¡ %&
1- ykblsal iz.kkyh %& futh {ks=ksa dks fdlh Hkh m|ksxksa ds fuekZ.k ds fy, ykblsl
a dh
vko';drk gksrh gSA
2- laj{k.k %& lkoZtfud {ks= ds midzeksa (PSU) dsk fons'kh izfrLi/kkZ ds lkFk&lkFk
vkarfjd izfrLi/kkZ vFkkZr~ futh {ks=ksa ds lkFk izfrLi/kkZ ls Hkh ljaf{kr j[kk x;k A
3- y?kq {ks=ksa ds fy, vkfFkZd enn %& vkS|ksfxd mRiknu ds vuds {ks= y?kq m|ksxksa ds
fy, vkjf{kr j[ks x, Fks A
4- vkfFkZd ladsUnz ij jksd %& MRTP ACT ds }kjk futh {ks=ksa ds foLrkj dks jksdk
x;k a tSls & 100 djksM+ ls vf/kd lEifRr ij jksd A
5- fuos'k uhfr & can vFkZO;oLFkk ds varxZr fons'kh fuos'k ij jksd yxk;k x;k A
6- vk;krk izfrLFkkiu dh uhfr %& ge ftu phtksa dk vk;kr dj jgs gSa muds vk;krk
dks de djuk rFkk mu {ks=ksa esa vkRefuHkZj gksus dk iz;kl djuk vFkkZr~ vk;kfrr
oLrqvksa ds Hkkj dks de djus dk iz;kl vk;kr izfrLFkkiu ds ek/;e ls fd;k x;k A
7- vFkZO;oLFkk dk lkoZtfud {ks=ksa }kjk usr`Ro o fu;a=.k A
8- dBksj Je uhfr %& bl uhfr ds Jfedksa dh rjQ vf/kd >dko FkkA
9- vFkZO;oLFkk esa vk/kkjHkwr m|ksxksa ds fodkl ds fy, Hkkjh O;; fd;k x;k A
 vkS|ksfxd uhfr;ksa dh dfe;k¡ %&
1- izfrLi/kkZ dh deh %& laj{k.kokn dh uhfr ds dkj.k ls vkarfjd o ckg~; izfrLi/kkZ
u feyuk A ftlls lkoZtfud {ks=ksa dk miHkksDrk ds fgr esa dk;Z u djuk A
2- ykblsal jkt %& futh m|ksxksa ds fodkl ds fy, ljdkj dh vuqefr vfuok;Z Fkh
A dksbZ Hkh m|ksx [kksyus ls igys ljdkj ls ykblsal izkIr djuk gksrk FkkA lkFk
gh MRTP ACT ds rgr~ m|ksxksa ds foLrkj ij izfrca/k FkkA

3- yky fQrk'kkgh %& lkoZtfud {ks= esa O;kIr ukSdj'kkgh yky fQrk'kkgh ds nks"k ls
xzflr Fkh tks fd dk;ksZ ds foyEc dk dkj.k Fkh A
4- mn~ns'; dh Li"Vrk dk vHkko %& lkoZtfud {ks=ksa ds }kjk tudY;k.k rFkk ykHk
dekus ds e/; mn~ns'; dh Li"Vrk dk vHkko A
5- Hkz"Vkpkj %& ml le; Hkz"Vkpkj cgqr vf/kd ek=k esa lHkh txg O;kIr Fkh A tks
fd vkS|ksfxd uhfr dh ,d cgqr cM+h deh Fkh A
6- vdeZ.;rk o dkepksjh %& dBksj Je uhfr Jfedksa dk laj{k.k djrh Fkh rFkk
ljdkjh deZpkjh dk;ksZa esa vdeZ.;rk dh izd`fr fodflr djrs Fks A
7- jktuhfrd gLr{ksi %& lkoZtfud {ks= ds midzeksa dks de Lora=rk izkIr Fkh A ;s
Lora= fu.kZ; ugh ys ldrs Fks A rFkk bu ij jktuhfrd gLr{ksi cgqr vf/kd FkkA
8- fujadq'krk %& ukSdj 'kkgh dh fujadq'krk tufr dh mis{kk bl le; ds vkfFkZd
uhfr;ksa dh cM+h leL;k Fkh A
 Hkkjr esa 1990&91 dh ifjLFkfr %&
1- jktuhfrd vfLFkjrk
2- 17% eqnzkfLQhfr rFkk 8-9% jktdks"kh; ?kkVk A
3- [kkM+h ;q) %& ftlds dkj.k rsy dh dherksa esa cgqr vf/kd o`f) gqbZ A
4- Hkkjr dk fons'kh eqnzk Hk.Mkj] 1 ls 2 lIrkg ek= rd ds vk;kr ds djus ds fy,
gh lhfer gks x;k FkkA
 u;h vkS|ksfxd uhfr@u;h vkfFkZd uhfr %& ;g uhfr 24 tqykbZ 1991 dks yk;h xbZ a
blesa o`gn vkfFkZd lq/kkjka dks viuk;k x;k A blesa 1950 ls 1900 rd ds vkfFkZd
uhfr;ksa dks ifjofrZr fd;k x;k vkSj ubZ vkfFkZd fopkj /kkjk dks viuk;k x;k A ftl
dkj.k bls ubZ vkfFkZd uhfr dgrs gSA blesa mnkjhdj.k] uhftdj.k] oSf'ohdj.k] (LPG)
dks viuk;k x;k A

1- mnkjhdj.k %& mnkjhdj.k dk vFkZ gS fu;eksa dks ljyrk iznku djuk A ljdkj }kjk
vFkZO;oLFkk ij LFkkfir izR;{k vFkok HkkSfrd fu;a=.k dks [kRe fd;k x;k a vFkkZr~
ykblsal jkt dh ufhr dks [kRe fd;k x;k A blesa fofHkUu fu;kedksa ,oa fu;eksa dks lac/a k
esa mnkjrk dks viuk;k x;k vFkkZr~ m|ksxksa rFkk vkfFkZd fdz;kvksa ij ljdkjh fu;a=.k dks
[kRe ;k de fd;k x;k A
a. ykblsal jkt dks [kRe fd;k x;k A
b. MRTP ACT dh [kRe fd;k x;k A
2- futhdj.k %& futhdj.k ds varxZr vFkZO;oLFkk esa lkoZtfud {ks=ksa ds fu;a=.kdkjh o
usr`Rodkjh Hkfedk dks [kRe dj fn;k x;k A og vFkZO;oLFkk esa futh {ks= dks c<+kok
fn;k x;k A vFkkZr~ vc vFkZO;oLFkk ds fodkl dh usr`Rodkjh Hkwfedk futh {ks= dks lkSai
nh xbZ A lkFk gh lkoZtfud {ks= ds midzeksa ds fofuos'k dh uhfr dks viuk;h x;h A
ftlesa lkoZtfud {k=ksa esa futh Lokfero dks c<+ko fn;k x;k A
3- oS'ohdj.k 5& oS'ohdj.k dh uhfr ds rgr~ loZizFke vkaf'kd :i ls [kqyh vFkZO;oLFkk esa
ifjofrZr fd;k x;k A vk;kr fu;kZr ij yxs izfrcU/kksa dks [ksy fn;k x;k rFkk vk;kr
fu;kZr dks c<+kok fn;k x;k rFkk ns'k ds fodkl esa fons'kh fuos'k ds egRo dks le>k
x;k A
 1991 dh ubZ vkfFkZd uhfr dh fo'ks"krk,a %^
1- ykblsal jkt dh lekfIr %& blesa ykblsal ysus okys m|ksxksa dh la[;k ?kVkdj 19
dj nh xbZA vc orZeku esa flQZ 5 {ks= ,sls gSa ftu ij m|ksx [kksyus ds fy,
ykblsal dh vko';drk gS &
i. ,YdksgkWy ,oa eknd inkFkZ
ii. rEckdw] flxjsV vkfn A
iii. foLQksVd
iv. [krjukd jlk;u
v. bysDVªkWfud] ,;jksLis'k ,oa j{kk A

2- m|ksxksa dks vukjf{kr djuk & 1956 dh vkS|ksfxd uhfr ds rgr~ vkjf{kr m|ksxksa dks vc
vukjfkr dj fn;k x;k rFkk futh {ks=ksa dks Hkh bu {ks=A esa m|ksxksa [kksyus ds fy, LoRA= fd;k
x;k A vc orZeku esa flQZ 02 {ks= gh ,sls gSA ftu ij lEiw.kZ ;k vkaf'kd :i ls ljdkjh
vkj{k.k O;kIr gSA
a. UkkfHkdh; vuqla/kku ,oa lEc) {ks= ¼xfrfof/k;k¡½
b. jsyso A
3- MRTP dh lhek dk lekiu %& MRTP dh lhek dks lekIr dj fn;k x;k o m|ksxksa dks
foLrkj djus dh Lora=rk iznku fd;k x;k A
4- fons'kh fuos'k dks izksRlkgu %& ubZ vkS|ksfxd uhfr ds rgr fons'kh fuos'k dks vkfFkZd fodkl
ds ek/;e ds :i esa Lohdkj fd;k x;k A blesa ykWVªh] tqvk] lV~Vsckth] ijek.kq {ks= dks fons'kh
fuos'k ls nwj j[kk x;k rFkk vU; lHkh {ks=ksa dks fons'kh fuos'k ds fy, [kksy fn;k x;k A
5- FERA dks FEMA ds }kjk izksRlkfgr %& fons'kh eqnzk fofue; vf/kfu;e dks fons'kh eqnzk
izca/ku vf/kfu;e esa ifjofrZr fd;k x;k A
6- lkoZtfud {ks= ds midzeksa dks vf/kd Lok;Rrk iznku dh x;h A
 vkfFkZd lq/kkjkas ds izHkko rFkk ewY;kadu %&
1- rhoz le`f) nj %& uh; vkS|ksfxd uhfr dks viukus ds i'pkr~ Hkkjr esa rhoz le`f) nj
dks ns[kk x;k a geus fiNys n'kdksa esa vkSlr :i ls 7% ls 8% dh le`f) nj izkIr dh
gSA Hkkjr PPP ds vk/kkj ij fo'o dh rhljh lcls cM+ (10-3 Trillion$) vFkZO;oLFkk gS
rFkk Current Price ds vk/kkj ij NBoha ls cM+h vFkZO;oLFkk (3.04 Trillions$)
vFkZO;oLFkk gSA bl vk/kkj ij Hkkjr esa ubZ vkS|ksfxd uhfr dks viukusds i'pkr~ rhoz
vkfFkZd le`f) dks izkIr fd;k gSA rhoz vkfFkZd le`f) dks izkIr djus ds ckn Hkh Hkkjr esa
vkfFkZd fodkl dk Lrj de gSA ns'k esa vHkh Hkh xjhch] csjkstxkjh dh fLFkfr O;kIr gSA
ekuo fodkl lwpdkad esa Hkkjr dk 131 ok¡ LFkku gS tks fd ;g iznf'kZr djrk gS fd ubZ
vkS|ksfxd uhfr dk ykHk vke yksxksa dks izkIr ugha gks jgk gSA

2- thou Lrj %& ubZ vkS|ksfxd uhfr dks viukus ds i'pkr~ Hkkjr esa yksxksa ds thou Lrj esa
rhoz o`f) ns[kh x;h gSA orZeku esa izfr O;fDr vk; 1 yk[k ls Hkh vf/kd gSA fdUrq ns'k
esa O;kIr vlekurk ;k vlekurk dks Lrj esa gksus okyh o`f) dks ubZ vkS|ksfxd uhfr ds
ifj.kke Lo:i ns[kk tk ldrk gSA
3- xjhch %& xjhch ds Lrj esa O;kid :i ls deh ns[kh xbZ gS A lqjks rsanqydj vkSj lh-
ljaxjktu lfefr ds vuqlkj dze'k% 21.9% o 29.5% dh xjhch ns'k esa gS tks ns'k esa
xjhch dh Rofjr :i ls deh dks n'kkZrk gSA fdUrq vHkh Hkh xjhcksa dh la[;k cgqr vf/kd
gSA vusd ifjokj xjhch js[kk ls uhps thou ;kiu dj jgs gSa] vkSj bl xjhch dh leL;k
dk fuokj.k djus esa ubZ vkS|ksfxd uhfr vlQy jgh A
4- csjkstxkjh %& u;h vkS|ksfxd uhfr dks viuk, tkus ds ckn yksxksa dks izkIr gq, vFkkZr~
yksxksa dks izkIr gksus okys voljksa esa o`f) gqbZ A fdUrq orZeku le; esa 42 lkyksa dh
lokZf/kd csjkstxkjh dk gksuk u;h vkS|ksfxd uhfr dh detksjh dks iznf'kZr djrk gSA
5- ubZ vkS|ksfxd uhfr dk fofHkUu {ks=ksa ij izHkko %&
i. d`f"k ;k izkFkfed {ks= %& ubZ vkS|ksfxd uhfr dk viuk, tkus ds i'pkr~ d`f"k dk
vFkZO;oLFkk esa Hkkxhnkjh de gqbZ gSA orZeku esa izkFkfed {ks= dh GDP esa Hkkxhnkjh 17%
gSA fdUrq orZeku esa 42% yksx d`f"k {ks= ij fuHkZj gS] tks fd vkS|ksfxd uhfr dh deh
dks iznf'kZr djrk gSA
ii. f}rh;d {ks= %& f}rh;d {ks= dh vFkZO;oLFkk ls Hkkxhnkjh 1990 ds ckn fLFkj cuh
gqbZ gSA tks fd 26% ls 30% ds Lrj ij cuh gqbZ gSA vkSj blh ds Lrj ij turk dh
fuHkZjrk Hkh f}rh;d {ks= esa O;kIr gSA fdUrq Hkkjr vU; vkS|ksfxd ns'kksa ds leku f}rh;d
{ks= esa fodkl djus esa vlQy jgk gSA
iii. r`rh;d {ks= %& ubZ vkS|ksfxd uhfr dks viuk;s tkus ds i'pkr` r`rh;d {ks= dks rhoz
xfr ls fodkl gqvk gSA orZeku esa r`rh;d {ks= dh vFkZO;oLFkk esa 54% Hkkxhnkjh

gSA fdUrq r`rh;d {ks= ij fuHkZjrk 21% yksxksa dh gS tks fd r`rh;d {ks= dh
vFkZO;oLFkk esa Hkkxhnkjh ds vuq:i vR;ar deg SA
6- futh {ks= dh Hkwfedk %& u;h vkS|ksfxd uhfr dks viuk;s tkus ds i'pkr~ ns'k ds vkfFkZd
fodkl dh ftEesnkjh futh {ks= dks lkSaih xbZ A fdUrq futh {kS= vkfFkZd ykHk dh
vo/kkj.kk ij dk;Z djrh gSA ;g {ks= xjhcks]a oafprksa] 'kksf"krks]a ds fodkl ds fy, dk;Z
ugha djrh gSA tks fd lekos'khdj.k dh vo/kkj.kk ds f[kykQ gS ;k mlesa ck/kd gSA
7- vk;kr ij fuHkZjrk %& ubZ vkS|ksfxd uhfr dks viuk, tkus ds lkFk Hkkjrh; vFkZO;oLFkk
esa ifjorZu dj mls [kqyh vFkZO;oLFkk esa ifjofrZr dj fn;k x;k A Hkkjrh; cktkj dks
vk;kr & fu;kZr ds fy, [kksy fn;k x;k A
fdUrq Hkkjr dk fu;kZr] vk;kr dh rqyuk esa vR;ar de gS o Hkkjr oLrqvksa ds vk;kr ij
fuHkZj gS tks fd Hkkjr ds fy, gkfudkjd gSA
8- fons'kh fuos'k %& fons'kh fuos'k dks Hkkjr ds vkfFkZd fodkl dk ek/;e cuk;k x;k lkFk
gh fons'kh fuos'k Hkkjr ds vkfFkZd fodkl dks lqfuf'pr djus esa egRoiw.kZ Hkwfedk vnk
djrk gSA fdUrq fons'h fuos'k ls fons'kh dke dks ykHk izkIr gksrk gSA tks fd Hkkjrh; iw¡th
dks fons'kksa esa LFkkukarfjr djrh gS A
9- fons'kh gLr{ksi %& orZeku esa fo'o cSad] IMF vkfn oSf'od laLFkkvksa dk gLr{ksi c<+k gSA
10- oSf'od vFkZO;oLFkk ds izfr lqHks"k %& Hkkjr oSf'od ifjfLFkfr;ksa ls izHkkfor gksus yxk gSA
tSls & 2003 ds vkfFkZd eanh dk izHkko Hkkjr ij udkjkRed :i ls iM+k gSA
 Vsªtjh fcy %& Vsªtjh fcy vYidkfyd izrHkwfr;ksa gS] ftlds ek/;e ls ljdkj _.k izkIr
djrh gS A bldk fuxZeu Hkkjr ljdk ds fy, RBI djrk gSA Vsªtjh fcy] fMLdkmUV
ewY; vFkkZr~ NwV ij tkjh fd;s tkrs gS vFkkZr~ mlds okLrfod ewY; ls de ewY; ij
cspk tkrk gSA fdUrq [kjhnrs le; okLrfod ewY; ij [kjhnk tkrk gSA Vsªtjh fcyk 91]
182 o 364 fnuksa ds fy, tkjh fd;k tkrk gSA

dkjs baMLVªht
1- d`f"k %& moZjd
2- bZa/ku %& dks;yk
dPpk rsy
izkd`frd xSal
isVªksfy;e fjQk;ujh
3- vk/kkjHkwr flesaV
lajpuk %& bLikr
¼fuekZ.k½ fctyk
egkjRu
Hkkjr ljdkj }kjk 2009 esa egkRu dEiuh dk ntkZ vkjaHk fd;k x;k A ftldk izeq[k mn~ns';
lkoZtfud midze (PSU) dks vf/kd Lok;Rrk iznku djuk FkkA rkfd ;s dEifu;ksa Lok;Rrk ds
ek/;e ls futh m|ksxksa ds :i esa dk;Z dj ldsa A orZeku esa blesa 11 dEifu;k¡ vkrs gSa A
egkjRu dk ntkZ izkIr djus ds fuEu ekin.M gSa &
1- PSU dks uojRu dk ntkZ izkIr gksuk pkfg, A
2- Hkkjr dk 'ks;j cktkj esa SEBI ds ekin.Mksa ds rgr~ fyLVsM gksuk pkfg, A
3- rhu o"kksZa ds vkSlr ds vk/kkj ij izfro"kZ 25000:- djksM+ ls vf/kd dk lkyk VuZ vksoj
gksuk pkfg, A
4- rhu o"kksZ ds vkSlr ds vk/kkj ij izfro"kz 15000:- djksM+ dh 'kq) ifjlEifRr gksuk
pkfg, A
5- rhu o"kksZ ds vkSlr ds vk/kkj ij 5000@& Per year djksM+ ls vf/kd dk ykHkka'k
gksuk pkfg, A
6- oSf'od Lrj ij budk egRo o izHkko gksuk pkfg, A
 egkRu dEifu;k¡ viuh lEifRr dk 15% vFkok 5000 djksM+ :i;s t ks HKH DE GKS dk
[kpZ Lo;a ljdkj ls fcuk iwN dj ldrh gSA
 egkjRu dEifu;k¡ fuEu gS & 13
1- GAIL – Gas Authority of India limited
2- Sail – Steel Authority of India limited
3- CIL – Coal India limited
4- IOCL – Indian Oil corporation limited
5- BHEL – Bharat Heavy Power Corporation
6- NTPC - National Thermal Power Corporation limited
7- Power Grid – Power Grid Corporation of India limited
8- ONGC – Oil & Natural Gas Corporation Limited
9- BPCL – Bharat petroleum Corporation
10- PFC – Power Finance corporation
11- HPCL – Hindustan petroleum Corporation limited
12- RECL – Rural Electrification Corporation limited
13- PFC – Power Finance Corporation
uojRu
Hkkjr ljdkj }kjk 1997 esa feuh jRu dEifu;ksa dks uojRu dEifu;ksa dk ntkZ fn;k tk jgk gSA
blds rgr~ fofHkUUk ekin.Mksa esa 100 vadksa esa 60 vad izkIr djus okys dEifu;ksa dks uojru dk
ntkZ iznku fd;k tkrk gSA uojRu daifu;k¡ 1000 djksM+ :i;s vFkok viuh lEifRr dk 50%
tks Hkh de gks mldk mi;ksx ljdkj ls fcuk iwNs dj ldrs gSa A blds fy, fuEufyf[kr
ekinaM gS &
1- 'kq) iw¡th ykHk
2- oLrq ,oa lsok mRiknu dj
3- Je 'kfDr

4- ifjlEifRr
5- feuh jRu@izn'kZu
6- vk; izfr va'k
 blds varxZr orZeku esa 14 dEifu;k¡ vkrh gSA ftuesa ls dqN izeq[k dEifu;k¡ fuEu gS &
1- HAL
2- OIL
3- MPNL
4- BEL
5- NACL
6- EIL
7- NMDC
feuhjRu
bls nks Hkkxksa esa foHkkftr fd;k x;k gS &
1- feuhjRu (i) :- feuhjRu (i) dk ntkZ izkIr djus ds fy, yxkrkj 3 o"kksZa rd ykHk dekuk
jgrk gSA ftlesa ls de ls de fdlh ,d o"kZ esa 30 djksM+ dk ykHk dekuk pkfg, A
;g 500 djksM+ :i;s ;k dqy ifjlEifRr esa ls tks de gks mldk ljdkj ls fcuk iwNs
mi;ksx dj ldrh gSA
2- feuh jRu (ii) :- budks Hkh yxkrkj 3 o"kksZa rd ykHk dekuk pkfg, A ;g viuh
ifjlEifRr dk 300 : ;k 50% tks Hkh de gks mldk ljdkj ls fcuk iwNs mi;ksx dj
ldrh gSA
3- orZeku esa fefujRu esa 74 dEifu;k¡ ntZ gSA
 MSME (Micro, small, medium Enterprices)(lw{e] y?kq ,oa e/;e gksxk)
:- Hkkjr esa dqVhj m|ksxksa o e>ys m|ksxksa dks c<+kok nsus ds fy, Hkkjr ljdkj

}kjk MSME dh uhfr dk izko/kku fd;k x;k a Hkkjr esa yxHkx 8 djksM+ ls
vf/kd MSME gSA Hkkjr ds dqn fu;kZr dk 45% MSME ds }kjk gh fd;k
tkrk gSA tks fd MSME dsk Hkkjr dk batu vkQ xzksFk iznf'kZr djrk gSA
 blds fy, ljdkj }kjk fu/kkZfjr ekin.M fuEufyf[k gS &
oLrq lsok
Micro 25L 10L
Small 25L-5cr. 10-2cr.
Medium 5cr. – 10 cr. 2cr – 5cr
GST
,d ns'k] ,d dj ] ,d cktkj
 1 July 2017 dks ykxw A
3 Aug 2016 → jkT;lHkk
8 Aug 2016 → yksdlHkk
8 Sep 2016 → jk"Vªifr
 CGST vf/kfu;e → 2017
SGST vf/kfu;e → 2017
IGST vf/kfu;e → 2017
UTGST vf/kfu;e → 2017
jkT;ksa dks {kfr iwfr vf/kfu;e 2017
 vuqPNsn 279(A) ds rgr GST ifj"kn dk xBu fd;k x;k A
 vuqPNsn 269(A) ds rgr~ IGST dk izko/kku fd;k x;k A
 vuqPNsn 246 ds rgr~ ;g izko/kku fd;k x;k gS fd dsUnz CGST o IGST yxk,xh rFkk
lHkh jkT; SGST yxk,axs A

 1 tqykbZ 2017 dks Hkkjr esa GST dh ubZ dj iz.kkyh dks ykxw dj fn;k x;k A tks fd
Hkkjr esa dj lq/kkj ds {ks= esa ,d ,sfrgkfld dne FkkA blds ek/;e ls Hkkjr dks ,d
ns'k ,d dj] ,d cktkj] ds :i esa ifjorZu ds fy, ekxZ iz'kLr fd;k x;k A GST esa
oLrq ,oa lsokvksa ds fy, yxus okys vyx&vyx dj dks ,dhd`r fd;k x;k] dsUnz o
jkT; ljdkj }kjk fy;s tkus okys vusd djksa dks ,dhd`r dj ,d GST ds :i esa
,dhd`r dj fn;k x;k lkFk gh vyx&vyx jkT;ksa ds fy, }kjk tkus okys djksa dks
,dhd`r dj ,d dj ds :i esa ifjofrZr dj fn;k x;k A
VAT – buiqV VSDl ØsfMV o vkmViqV VSDl yk;fcfyVh ds ek/;e ls djksa ds Åij yxus okys
dj (dSldsafMax bQsDV) dks [kRe dj fn;k x;k A GSTN dh u;h izkS|ksfxdh ds ek/;e ls
vusd dj iz.kkyh }kjk gksus okyh leL;k dks [kRe dj ljy dj iz.kkyh esa ifjofrZr fd;k x;k
bl izdkj GST ds ek/;e ls Hkkjr esa O;kid dj lq/kkjksa dks ykxw fd;k x;k A ftldk
ykHk vFkZO;oLFkk ds lkFk&lkFk dsUnz ljdkj] jkT; ljdkj] O;kikjh] m|ksx oxZ rFkk miHkksDrkvksa
dks izkIr gqvk A
GST dj lq/kkjksa ds fy, izFke iz;kl 2002 esa NDA dh ljdkj vFkok vVy
fcgkjh cktis;h dh ljdkj }kjk fd;k x;k vkSj GST ds laca/k esa **dsydj vk;ksx** dk xBu
fd;k x;k A GST dks ykxw djus dk fofHkUu ljdkjksa }kjk fd, x, iz;kl vius vafre ifj.kfr
esa 01 tqykbZ 2017 dks ykxw gksus ds i'pkr~ igqapk A
GST Council ds ek/;e ls la?kh; O;oLFkk dks cuk, j[kus dk iz;kl fd;k x;k gSA
 GST dh vko';drkvksa ds ihNs dk dkj.k %&

1- CENVAT o jkT; VAT ds }kjk yxus okys dj ds Åij dj A
2- dsUnz ds }kjk yxk, tkus okys mRiknu dj o jkT;ksa }kjk yxk, tkus okys fcdzh dj
ds rgr dj ds Åij dj dh leL;k mRiUu gks jgh Fkh A ftlds dkj.k ls miHkksDrkvksa
dks vf/kd ewY; pqdkuk iM+ jgk FkkA

3- vyx&vyx jkT;ksa }kjk vyx&vyx dj %& fHkUu & fHkUu jkT;ksa }kjk fHkUu&fHkUu
VAT yxk, tkrs Fks A ftlds dkj.k ls Hkkjr lQy cktkj ds :i esa fodflr ugha gks
ik jgk Fkk vkSj vyx&vyx jkT;ksa esa ,d gh oLrq ds fy, vyx&vyx dj pqdk;k
tkrk FkkA
4- oLrq ,oa lsokvksa ds fy, vyx&vyx dj %& iqjkuh dj iz.kkyh ds oLrqvksa ,oa lsokvksa ds
fy, vyx&vyx dj dk izko/kku Fkk A ftlds dkj.k ls oLrq ,oa lsok dk Li"V
foHkkTku ugha ik jgk Fkka o dqN yksxksa ds }kjk lsokvksa dks Hkh oLrq ds :i esa iathd`r
dj] dj vi oapu fd;k tk jgk Fkk tSls dh lkW¶Vos;j A
5- djksa ds vusd izdkj %& dsUnz o jkT;ksa }kjk vyx&vyx dj yxk, tkus ds dkj.k ls
vusd izdkj ds dj gks pqds Fks] tks fd dj iz.kkyh esa leL;k,a mRiUu dj jgs Fks A
6- tfVy iz.kkyh %& 17 izdkj ds dj o 32 izdkj ds midj yxk;s tkrs Fks] ftlds dkj.k
ls dj izfdz;k vR;ar tfVy gks tkrh Fkh A
7- izos'k dj o pqaxh dh leL;k %& jkT;ksa }kjk oLrqvks ij yxk, tkus okys izos'k dj rFkk
LFkkuh; 'kklu }kjk yxk, tkus okys pqaxhdj ds dkj.k ls oLrq ds ewY; esa cgqr vf/kd
fcdzh gks tkrh Fkh A ftlds dkj.k ls cgqr vf/kd leL;k mRiUu gksrh Fkh A
 GST dh fo'ks"krk,¡ & ;g ,d O;kid dj iz.kkyh gS ftlds rgr~ dsUnz ljdkj o jkT;ksa
ljdkjksa ds }kjk yxk, tkus okys fofHkUu djksa dks ,dhd`r dj GST cuk;k x;k A tSls
 dsUnz }kjk yxk, tkus okyk dj &
1- dsUnh; mRikn dj
2- mRikn dj vkS"k/kh; ,oa izlk/ku
3- vfrfjDr mRikn dj
4- vfrfjDr lhek 'kqYd (C.V.D.)
5- vfrfjDr fo'ks"k lhek 'kqYd
6- vf/kHkkj ,oa midj
7- lsok dj

 jkT;ks }kjk yxk, tkus okys dj &
1- jkT; VAT
2- foykflrk dj
3- euksjatu dj
4- izos'k dj
5- fcdzh dj
6- foKkiu dj
7- ykWVjh] lV~Vk] tqvk dj A
2- ,d ns'k] ,d dj] ,d cktkj %& GST ds ek/;e ls iwjs ns'k esa ,d dj iz.kkyh dks ykxw
fd;k x;k A blds rgr~ vyx&vyx jkT;ksa }kjk vyx&vyx dj yxk, tkus ds izko/kku ij
jksd yxh rFkk oLrq ,oa lsovksa ds fy, ,d dj dk izko/kku fd;k x;k A
3- xUrO; vk/kkfjr dj %& GST oLrqvksa ,oa lsokvksa ds fcdzh ij yxus okyk dj gSA ;kfu
fd;g ,d miHkksx ij vk/kkfjr dj O;oLFkk gSA ftlesa oLrqvksa ds vafre xUrO; ij dj yxk;k
tkrk gSA dj iz.kkyh ds iqjkuh O;oLFkk esa tgka dj dk ykHk mRiknd jkT;ksa dks izkIr gksrk FkkA
ogha orZeku O;oLFkk esa dj dk ykHk xUrO; ij fLFkr jkT; dks izkIr gksxk A
4- cgqpj.kh dj iz.kkyh %& oLrqvksa dks mRiknu ls ysdj miHkksx rd vusd pj.kksa ls gksdj
xqtjuk iM+rk FkkA bl dze esa vusd dj pqdk, tkrs Fks tks djksa ij dj (dSldsfMax bQsDV)
dh leL;k mRiUu djrh gSA tSls dsUnz }kjk yxk, tkus okys Central VAT vkSj jkT;ksa }kjk
yxk, tkus okys VAT ftlds dkj.k miHkksDrkvksa dks vf/kd dj pqdkuk iM+rk Fkk fdUrq orZeku
GST eas VAT dks rks viuk;k x;k gS] lkFk gh lHkh djksa dks ,df=r dj ,d dj ds :i esa
ifjofrZr fd;k x;k gS A tks fd djksa ds dSldsfMax bQsDV dks de dj jgh gSA
 GST ifj"kn %& GST ifj"kn dk fuekZ.k 101 o lafo/kku la'kks/ku ds }kjk tksM+s x,
vuqPNsn 279(1) ds }kjk 12 sep 2016 dks fd;k x;k A blesa dsUnz o jkT; nksuksa dk
izfrfuf/kRo 'kkfey djds bls lg;ksxh la?kokn ds :i esa fufeZr fd;k x;k A blds

ek/;e ls GST ds lac/a k esa uhfr fu/kkZj.k rFkk fu.kZ; fy;s tkrs gSa A bl ifj"kn dh
v/;{krk foRr ea=h }kjk fd;k tkrk gS A bl ifj"kn esa 33.33% er dsUnz ds ikl
fufgr gSA rFkk 66.66% er jkT;ksa ds ikl fufgr gksrk gSA rFkk bl ifj"kn }kjk fu.kZ;
ysus ds fy, rhu&pkSFkkbZ (75%) er izkIr djuk vko';d gS A tks fd dsUnz o vf/kdrj
jkT;ksa dh lgefr ds fcuk vlaHko gSA
GST ifj"kn
xBu 12sep.2016
v/;{k foRr ea=h

mik/;{k jkT;ksa ds foRr eaf=;ksa esa ls fdlh ,d dk pquko
lnL; foRr jkT; ea=h
lHkh foRr ea=h (jkT;ksa ds) vFkok jkT; }kjk ukfer lnL;
UT tgka fo/kku lHkk gks
UT foRr ea=h vFkok ukfer lnL; (tgka fo/kkulHkk gks Ex – Delhi, iqnqpsjh)
fdlh Hkh fu.kZ; ds fy, ;k 75% er izkIr gksuk pkfg, A
dsUnz ds ikl 33.3% er rFkk jkT;ksa ds ikl 66.6% er gksrk gS A

 GST ifj"kn ds dk;Z %&
1- fdu djksa dks GST esa 'kkfey djuk gS mldk fu.kZ; ysxk
2- GST esa fdu oLrqvksa dks NwV iznku djuk gS mldk fu.kZ; ysxk A
3- fdu oLrqvksa dks fdu njksa esa 'kkfey djuk gS] bl laca/k esa fu.kZ; ysukA
4- GST dks ykxw djus ds dkj.k ls jkT;ksa dks gq, gkfu ds lac/a k esa jkT;ksa dks iznku fd
tkus okys dsUnzh; lgk;rk dk fu.kZ; A
5- vkink ds le; lalk/ku tqVkus ds fy, fo'ks"k njksa ds laca/k esa fu.kZ; A
6- IGST ds caVokjs ds laca/k esa fu.kZ; A
 GST ls ckgj oLrq,a %& ,YdksgkWy dks bldh ifjHkk"kk ls gh vyx j[kk x;k gSA blds
vykok blesa ikap vkSj oLrq,a gSa tks fuEu gSa &
1- isVªksfy;e inkFkZ (dzwM vkW;y)
2- eksVj fLizV (isVªksy)
3- Mhty
4- izkd`fr xSal
5- foekuu Vjckbu
bu lc dks GST esa dc 'kkfey djuk gS bldk fu.kZ; GST ifj"kn ysxk A
 GST dh fofHkUu njsa %&
Mk;e.M ,oa Tosyjh
0.3%, 0.3% 3%- Gold
rFkk 0% = f'k{kk
 bldh pkj fu/kkZfjr njsa gSa A ftlesa lHkh oLrqvksa dks j[kk tkrk gSA
1- 5%
2- 12%
3- 18%
4- 28%
 IGST :- GST ds rgr IGST dk izko/kku vuqPNsn 279(A) ds rgr fd;k x;k gsa blds
ek/;e ls oLrqvksa ,oa lsokvksa ds varjkZT;h; O;kikj ;g dj yxk;k tkrk gSA bls Hkkjr
ljdkj }kjk ,d= fd;k tkrk gSA rFkk bls dsUnz o jkT; ds e/; bl izdkj caVokjk
fd;k tkrk gSA ftl izdkj laln }kjk GST ifj"kn ds lykg ij dkuwu cukdj fd;k
x;k gSA

 vk;kr esa GST :- GST ds rgr~ vk;krhr oLrqvksa ij IGST yxk;k tkrk gSA vk;krksa ds
ckn yxs IGST }kjk tks dj izkIr fd;k tkrk gS] mldk dsUnz o jkT;ksa ds e/; foHkktu
fd;k tkrk gSA vk;kr esa lhek 'kqYd yxk;k tk ldrk gS rFkk fu;kZr ij dksbZ TAX
ugha yxk;k tkrk gSA
 jkT;ksa ds {kfriwfrZ ds fy, izko/kku %& GST ykxw gksus ds dkj.k ls jkT;ksa dks gksus okys
jktLo {kfr ds lac/a k esa dsUnz ljdkj }kjk 5 o"kksZa esa {kfr iwfrZ dk izko/kku fd;k x;k gSA
 fjolZ pktZ %& Reverse Charge System ds rgr tks xzkgd lsok ysrs gSa muds Åij
GST ds Hkqxrku dh ftEesnkjh nh xbZ gSA
 equkQk[kksjh jks/kh xfrfof/k (Anti Probiteering Achtivity) equkQk[kksjh dks jksdus ds
fy, equkQk[kksjh jks/kh izkf/kdj.k laLFkku dk fuekZ.k fd;k x;k gSA
 E-Way Bill :- 5000 :- ewY; ls vf/kd dh oLrq dh 10 fdeh- ls vf/kd LFkkukarfjr
djus ds fy, E-Way Bill dh vko';drk gksrh gSA ;g uk gksus ij n.MkRed dk;Zokgh
Hkh gks ldrh gSA ;g izk;% O;kikfj;ksa vFkok fodzsrkvksa ds fy, ykxw gksrh gSA
 GSTN :- GSTN ,d bUQkseZslu VsDukykWth (IT) ls lacfa /kr dj iz.kkyh gSA ftlds
ek/;e ls GST iz.kkyh dk fu/kkZj.k ,oa fu;a=.k fd;k tkrk gSA blds fy, Infosys us
lkW¶Vos;j dk fuekZ.k fd;k gSA blesa 24.5% dsUnz] 24.5% jkT;ksa dks rFkk 'ks"k 51%
vU; foRrh; laLFkkvksa dh Hkkxhnkjh gksrh gSA
 GST Thresold :- ;fn fdlh Hkh laLFkk dk VuZvksoj 40L rd u gqvk gks rc rd mls
GST iVkus dh vko';drk ugha gksrh gSA
 GST ds ykHk %&
1- vFkZO;oLFkk dks ykHk %& GST ,d dj lq/kkj dh izfdz;k gS tks fd vFkZO;oLFkk ds
fy, ldkjkRed izo`fRr dks iznf'kZr djrk gSA GST ds ykxw gksus ls dsUnz o jkT;

ljdkj] O;kikfj;ksa o miHkksDrkvksa dks ykHk gqvk gS tks fd varr% vFkZO;oLFkk dks ykHk
igq¡pkrk gSa ;g vuqeku gS fd GST dks ykxw gksus ls GDP esa 2% dh o`f) gqbZ gSA
2- dsUnz o jkT; ljdkjksa dks ykHk %& GST ,d izkS|ksfxdh vk/kkfjr dj iz.kkyh gS ftlesa
fofHkUu djksa dks ,df=r fd;k x;k gSA ftlds dkj.k dj vioap;u dh laHkkouk de
gks x;h gSA ftlls dsUnz o jkT; dks vf/kd jktLo ykHk dh laHkkouk gSA
3- O;kikfj;ska o m|ksxksa dks ykHk %& GST ds ek/;e ls dj iz.kkyh ljy gqbZ gS o vusd
izdkj ds djksa esa tVhy izfdz;k dks [kRe fd;k x;k gSA ftlls O;kikfj;ksa dks GST
Return Hkjus dh izfdz;k vklku gqbZ gSA GST Return ds ek/;e ls O;kikfj;ksa dks
de dj pqdkuk iM+ jgk gSA
4- miHkksDrkvksa dsk ykHk %& GST ds ek/;e ls djksa ds dSl dsfMax bQsDV dks [kRe
fd;k x;k gS rFkk vusd izdkj ds vizR;{k djska dsk Hkh ,df=r fd;k x;k gSA ftlds
dkj.k ls miHkksDrkvksa dks de dj pqdkuk iM+ jgk gSA tks miHkksDrkvksa ds fy,
ykHkizn gSA
iapo"khZ; ;kstuk
 ;kstuk %& Hkkjr esa fefJr vFkZO;oLFkk dks viuk, tkus ds ckn Hkkjr ds vkfFkZd ,oa
lkekftd fodkl dh izfdz;k dks lqfuf'pr djus ds fy, ;kstuk vk;ksx dh O;oLFkk dh
xbZ A ;kstuk vk;ksx dk ewy mn~ns'; Hkkjr ds lalk/kuksa dk vf/kdre mi;ksx djrs gq,
ns'k ds fodkl ds fy, ;kstuk dk fuekZ.k djuk gSA ;kstuk vk;ksx ns'k ds izkd`frd]
ekuoh; o vkfFkZd lalk/kuksa dk vf/kdre mi;skx djrs gq, ns'k ds fodkl ds fy,
;kstuk dk fuekZ.k djuk gSA ;kstuk vk;ksx ns'k ds izkd`frd ekuoh; o vkfFkZd lalk/kuksa
dk ;qfDr & ;qDr ,oa foosd iw.kZ mi;ksx lqfuf'pr djrk gSA
 fu;kstu %& fu;kstu dk vFkZ gS fd ns'k dh izkFkfedrkvksa ,oa vk'o;drkvksa ds vk/kkj
ij fofHkUu lalk/kuksa (izkd`frd] vkfFkZd ,oa ekuoh; lalk/kuksa) dk fodklkRed iz;ksx
djuk gsA ;g ,d laxfBr vkfFkZd iz;kl gSA

 ;kstuk vk;ksx dk mn~ns'; %&
1- ns'k ds lalk/kuksa dk vf/kdre mi;ksx A
2- lalk/kuksa dk fodkl dk;ksZa ds fy, mi;ksx A
3- volajpuk dk fuekZ.k
4- xjhch mUewyu A
5- csjkstxkjh mUewyu A
6- vkS|ksfxd fodkl A
7- d`f"k] fofuekZ.k o lsok ds e/; mfpr A
8- larqyu ds lkFk fodkl A
9- lektoknh o lerkoknh yksdra= dh LFkkiuk A
10- jktuhfrd ,oa vkfFkZd yksdra= A
 fu;kstu ds izdkj %&
1- vkns'kkRed fu;kstu %& vkns'kkRed fu;kstu ,d dsUnzh;d`r O;oLFkk gSA blesa jkT; ,oa
ljdkjh laLFkkvksa dk O;kid ,oa izR;{k gLr{ksi gksrk gSA blesa dsUnzh; Lrj ij ,d
dsUnzh;d`r 'kh"kZ laLFkk ds ek/;e ls ;kstuk dk fuekZ.k fd;k tkrk gS rFkk muds
fdz;kUo;u ds fy, vkns'k iznku djrk gsA bl izfdz;k esa jkT; ljdkj] futh {ks=ksa os
vke ukxfjdksa dks 'kkfey ugha fd;k tkrk gSA
2- funsZ'kkRed fu;kstu %& funsZ'kkRed fu;kstu ,d fodsUnzh;d`r O;oLFkk gSA ftlesa jkT;
o ljdkjh laLFkkvksa dk vizR;{k gLr{ksi gksrk gSA bldk fdz;kUo;u futh {ks=ksa }kjk
fd;k tkrk gSA rFkk uhfr;ka cukus esa Hkkxhnkj gksrh gSA
 fo'oS'ojS;k fu;kstu %& 1934 esa ,e- fo'oS'ojS;k }kjk bl ;kstuk dk fuekZ.k fd;k x;k
Fkk A **Iyku bdksukWeh vkWq bafM;k** uked iqLrd esa bl ;kstuk dk mYys[k fd;k x;k
gSA bl ;kstuk dk >qdko eq[;r% *lektokn* dh vksj FkkA
 (FICCI) fQDdh ;kstuk %& Federation of India Chambers of Commerse &
Industry 1934 esa blds }kjk Hkkj ds fy, ;kstuk dk fuekZ.k fd;k x;k a

 dkaxzsl ;kstuk %& ;g ;kstuk 1938 esa vk;h Fkh A bl ;kstuk ds fy, cus vk;ksx ds
v/;{k iafMr tokgjyky usg: Fks A rFkk rRdkfyd dkaxszl v/;{k lqHkk"k panzcksl FksA
 Jheu ukjk;.k vxzoky %& xk¡/kh;u ;kstuk A
 ckWEcs ;kstuk %& 1944 esa Hkkjr esa iw¡thifr;ksa ds }kjk ;g Iyku yk;k x;k FkkA ftlesa
J.D. TATA, fcM+yk vkfn izeq[k Fks A
 tu ;kstuk %& ,e-,u-jkW; A
 loksZn; %& ts-ih- ukjk;.k (1959)
 fofHkUu iapo"khZ; ;kstuk,¡ %&
1- izFke iapo"khZ; ;kstuk (1951-56)
gsjkM&Mksej ekWMy ij vk/kkfjr
2.1% fodkl nj dk y{; j[kk x;k rFkk 3.5% izkIr gqvk A
d`f"k fodkl ij vf/kd /;ku fn;k x;k A
2- f}rh; iapo"khZ; ;kstuk (1956-1961)
egyuksa fcl ekWMy ij vk/kkfjr
4.2% izkIr gqvk A
vkS|ksfxd fodkl o Hkkjh m|ksxksa ij /;ku fn;k x;k A
ghjkdqM
a ] nqxkZiqj] rFkk fHkykbZ LVhy IykaV blh ;kstuk esa cus Fks A
3- rhljh iapo"khZ; ;kstuk (1961-66)
xkMfxy ekWMy ij vk/kkfjr
[kk| vkRefuHkZjrk izkIr djus dk y{; j[kk x;k A
 ;kstuk vodk'k (1966-1969)

gfjr dzkafr
4- pkSFkh iapo"khZ; ;kstuk %& (1969-74)
5.7% fodkl nj izkIr djus dk y{; j[kk x;k A rFkk 3.3% izkIr gqbZ A
'osr Økafr
5- ikapoh iapo"khZ; ;kstuk %& (1974-1979)
xjhch mUewyu ,oa m?kq ,oa dqVhj m|ksxksa ds fodkl ij cy fn;k x;k A
6- NBoha iapo"khZ; ;kstuk %& (1980-1885)
xjhch mUewyu] jkstxkj ,oa y?kq rFkk dqVhj m|ksxksa dks c<+kok fn;k x;k A
7- lkroh iapo"khZ; ;kstuk %& (1985-90)
d`f"k ,oa y?kq rFkk e/;e m|ksxksa ds fodkl ij tksj A
8- vkBoh iapo"khZ; ;kstuk %& (1992-97)
lkoZHkkSfed izkFkfed f'k{kk dk y{; j[kk x;k A
lnh var rd ekuo lalk/ku ds fodkl dk y{; j[kk x;k A
vui<+ yksxksa dh f'k{kk ij tksj fn;k x;k A
tu LokLF; ij cy fn;k x;k A
9- ukSoha iapo"khZ; ;kstuk %& (1997-2002)
d`f"k fodkl dk y{; j[kk x;k A
10- nloh iapo"khZ; ;kstuk %& (2002-2007)
lekos'kh fodkl dk y{; j[kk x;k A
11- X;kjgoha iapo"khZ; ;kstuk (2007-2012)
12- ckjgoha iapo"khZ; ;kstuk (2012-2017)
ckjgoha iapo"khZ; ;kstuk ds ckn iapo"khZ; ;kstukvksa dks [kRe dj fn;k x;k A

;kstuk vk;ksx dks [kRe dj blds LFkku ij uhfr vk;ksx dk fuekZ.k 01 tuojh 2015 dks
fd;k x;k A
izFke ;kstuk vk;ksx ds v/;{k iafMr tokgjyky usg: Fks rFkk mik/;{k xqytkjh yky uank
Fks A
f}rh; mik/;{k V.T. d`".kekpkjh Fks A
vafre v/;{k MkW- eueksgu flag rFkk vafre mik/;{k eksUVsd flag vgyq okfy;k Fks A
Balance of payment (BOP)

;g fons'kh O;kikj ds vknku&iznku ds fy, [kkrk ls lacaf/kr gSA
BOP
Current Account Capital Account
¼pkyw [kkrk½ ¼iwt
a h [kkrk½
O;kikj [kkrk vn`'; [kkrk _.k
vk;krk fu;kZr lsok FDI

C;kt FPI
migkj FII
Exchange rate ¼fofue; nj½
 voewY;u (Devoluation) :- tc eqnzk ds ewY; dk fu/kkZj.k fons'kh eqnzk ds lkis{k esa
ljdkj }kjk fd;k tkrk gS rFkk bl izfdz;k esa tc fons'kh eqnzk ds lkis{k esa eqnzk ds ewY;
dks de fd;k tkrk gS rc mls voewY;u dgrs gSA
 Revaluation ¼vf/kewY;u½ :- tc fons'kh eqnzk ds lkis{k esa LFkkuh; eqnzk ds ewY; esa
ljdkj }kjk o`f) dh tkrh gS] rc vf/kewY;u dgrs gSa A

 Depreciation (ewY; ál½ %& tc fons'kh eqnzk ds lkis{k esa LFkkuh; eqnzk ds ewY; esa
deh cktkj esa ekax o vkiwfrZ ds ek/;e ls gksrk gS vFkkZr~ cktkj }kjk fu/kkZfjr gksrk gS
rks mls ewY;ál dgrs gSa A
 Appreciation (ewY; o`f)) :- fons'kh eqnzk ds lkis{k esa tc LFkkuh; eqnzk ds ewY; esa
o`f) cktkj esa ekax o vkiwfrZ ds ek/;e ls gks jgk gks rc mls ewY; o`f) dgrs gSaA
 gekjs ns'k esa pkyw [kkrs rFkk vkaf'kd :i ls iw¡th [kkrs ds vk/kkj ij ewY; dk fu/kkZj.k
fd;k tkrk gSA
PTA = preferential trade agreement
FTA = Free trade agreement
EU = Economic union
EMU = Economic and monetary Union

Economy Final

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Economy Final

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vFkZ'kkL= Economics

MOKSHA IAS MO-8109793404, 8109893404 Page 1

MOKSHA IAS MO-8109793404, 8109893404 Page 2

(a) fodkl dh fLFkfr ds vk/kkj ij &

MOKSHA IAS MO-8109793404, 8109893404 Page 3

c. Sector ds vk/kkj ij &

GDP fuHkZjrk 2021 ds vuqlkj

d. nwljs ns'kksa ls laca/kksa ds vk/kkj ij %&

e. vkRefuHkZjrk ds vk/kkj ij %&

MOKSHA IAS MO-8109793404, 8109893404 Page 5

G.D.P. (Gross Domestic Product)

MOKSHA IAS MO-8109793404, 8109893404 Page 6

G.N.P. (Gross National Product)

(G.D.P.)M.P. = (GDP) F.C. + Tax - lfClMh

MOKSHA IAS MO-8109793404, 8109893404 Page 7

GNP ¼jk"Vªh; vk;½

GDP dh dfe;k¡ %&

MOKSHA IAS MO-8109793404, 8109893404 Page 9

MOKSHA IAS MO-8109793404, 8109893404 Page 10

A. HkkSfrd@vkfFkZd rRo %& B. xSj vkfFkZd@vHkkSfrd rRo %&

A. HkkSfrd@vkfFkZd rRo %&

MOKSHA IAS MO-8109793404, 8109893404 Page 11

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INDEX OR **ekuo fodkl**

Human Development Indext

3- thou Lrj & vk; (GNP/NI) P.C.I.

lw= & H.D.I. - √

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Gender Development Index

Inequlatiy Adjested Human Development Index

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 orZeku esa Hkkjr dk iztuu nj & 2.1%

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3- thou Lrj LoPN ihus dk ikuh

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 xjhch ds nq"ifj.kke rFkk nq"pØ &

 xjhch fuokj.k ds iz;kl &

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i. n`'; vYi jkstxkj ¼vFkkZr~ de le; ds fy,½

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 csjkstxkjh ds vkfFkZd ifj.kke %&

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Money Market ¼eqnzk cktkj½ Capital Market ¼iw¡th cktkj½

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Central Bank ¼dsUnzh; cSad½

ekSfnzd dk;Z %& lkekU; dk;Z (RBI) Reserve Bank of India Z

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(A) ijEijkxr (B) xSj&ijEijkxr

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(B) Variable reserve ration (ifjorZfu; vkjf{kr vuqikr½ %&

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(iii) xq.kkRed fof/k

INDEX OR ekuo fodkl