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From Barter to Bitcoin: Evolution of Money

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Money is a matter of functions four: a medium, a measure, a standard and a store. Introduction Before the medium of exchange - that is, "money" - came into the picture, there was no standard for the trade. The primitive humans, who were primarily hunter-gatherer socities did not require any medium of exchange. Since these socities were typically small and highly mobile, with individuals and groups relying on hunting, gathering, and foraging for their sustenance. The social organization of hunter-gatherer societies was relatively egalitarian, with individuals working together to ensure the well-being of the group. Constitution of Nations As the human socities became more sedentary and settled, the need for more complex social and political structures emerged. The development of agriculture and the establishment of permanent settlements allowed for the growth of larger communities and the emergence of social hierarchies. The need for exchange of goods and services aro...

Union Budget 2023-24

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Finance Minister Nirmala Sitharaman presented the Union Budget 2023, the fifth budget on February 01. With this budget India has marked the 75 years of Independence through Azadi ka Amrit Mahotsav . Apart from this, the budget also laid down a plan for next 25 years and refers the same period as Amrit Kaal . Amrit Kaal What is Amrit Kaal? Last year, during the 75th Independence Day celebrations, PM Modi had unveiled a new roadmap for the country for the next 25 years, and termed it as 'amrit kaal.' This is a reference to deriving the best in every field, making it imperative for everyone to make 'prayas' for this. The purpose of Amrit Kaal is to better the lives of citizens, lessen the developmental divide between villages and cities, and reduce government interference in public life. It also entails the development or acquisition of the latest technologies...

Indian Armed Forces

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I am a warrior; defending my nation is my Dharma. I will train my mind, body and spirit to fight, excel in all devices and weapons - present and future. Always protect the weak, be truthful and forthright, be humane, cultured and compassionate, fight and embrace the consequences willingly. God give me strength that I ask nothing of you. ~ Bhagwat Gita Background Constitution of National Power Power has always been an integral constituent of inter-state relations. Kautilya defined it as the possession of 'Might and Strength'. In the present-day global environment, our National Power gives us the ability and capability to secure our National Interests (capacities in the military, economic, science & technology, leadership, National character, education, and influence (Diplomacy)) and also National Borders. Power is broadly classified as Hard Power and Soft Power. Hard Power facilitates the use of military, economic and political means to influence other States; Soft Power us...

From Farm Laws to Farmer Protest

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On 17 th September 2020, Lok Sabha passed the three farm laws - (i) Farmer's Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020; (ii) Farmer's (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020; (iii) Essential Commodities (Amendment) Bill, 2020 - followed by the Rajya Sabha on 20 th September 2020. The President of India, Ram Nath Kovind, gave his assent on 27 th September 2020. First bill relaxes restrictions governing purchases and sale of farm produce, the second relaxes restrictions on stocking under the Essential Commodities Act (ECA), 1955, and third introduces a dedicated legislation to enable contract farming based on written agreements. Status of Agriculture in India Agriculture in India is without a doubt, one of the most pertinent sectors of the Indian economy. Contributi...

Caste Discrimination Is an Everyday Reality

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“I have no color prejudices nor caste prejudices nor creed prejudices. All I care to know is that a man is a human being, and that is enough for me; he can't be any worse..” ~ Mark Twain Introduction India is the World's largest democracy, containing the second largest population in the World. Since the Independence in 1947 the World's perception of India has changed; from categorizing and treating it as a 'developing' nation to today's belief of India to be a superpower with a strong ally in the international arena. Caste Pyramid There are many internal problems in India which need immediate attention, including the issue of caste discrimination and untouchability. Caste discrimination and untouchability is not something new; it derives its root from ancient India. It is a cultural and social phenomenon th...

Farm Law Controversy - Agriculture Reform 2020

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India is mainly an agricultural society/ country. Agriculture is the most important occupation for most of the Indian families. Agriculture is the backbone of the Indian economy and will continue to remain so for a long time (as it seems now). Indian agriculture is characterised by agro-ecological diversities in soil, rainfall, temperature and cropping season. Agriculture and its allied sector employ more than half of the workforce in the country. However, it contributes only about 17% of the GDP. Distribution of Farmland in India 86% of total farmers are small and marginal, and they only own 47% of the total agricultural land, medium farmers are 13%, and they own 44% of the land, and the rest belongs to large farmers (see figure 1). The average size of farm holdings gradually reduced from 2.58 ha to 1.57 ha (2017-18 data) due to fragmentation of landholding generations after generation. These small and marginal farmers have limited resources com...

The World After Coronavirus

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Pre and Post Coronavirus way of life Coronavirus or COVID-19 is now synonymous to lockdowns, curfews, massive airport screenings, quarantine and social distancing across the globe. It has affected every aspect of - political, economic, social, technological and cultural - life. The world as we know before the coronavirus and after the coronavirus is not going to be the same. There will be many fundamental changes in an individual's life, structural changes in the functioning of the society, and functional changes on the professional front. Already face masks, social distancing, priority to health etc. have become the new norm across the globe. Background On December 31, 2019, China reported the World Health Organization (WHO) about the outbreak of cluster of cases and pneumonia of an unknown cause in Wuhan City in Hubei province. On January 09, 2020, WHO issued a statement saying Chinese researchers have made "preliminary determination" of the virus as a nov...