S.No.

Terms

About

1.        

AGI (Artificial General Intelligence)

Artificial General Intelligence (AGI) refers to AI systems with human-like cognitive abilities, capable of understanding, learning, and applying knowledge across diverse tasks and domains. Unlike narrow AI, which focuses on specific tasks, AGI aims to replicate the broad-ranging intelligence and adaptability of the human mind.

2.        

Brussels Effect

• The Brussels Effect refers to the remarkable ability of European Union regulations to influence global standards and policies.
• Coined by Anu Bradford, this term underscores the EU's unparalleled impact on regulatory frameworks beyond its borders.

3.        

Core Forest zone

Core zone is where the actual forest exists and there are no villages inside this core zone. 

4.        

Citizenship by Naturalisation

It is a common route to citizenship and usually applies to those who have entered the country through legal means, such as political asylum or having lawfully lived there for a mandated period. If a person has been a normal resident of India for 12 years (during the 12 months preceding the date of application and 11 years in total in an aggregate of 14 years) and meets all of the requirements in the Citizenship Act's third schedule, he or she can apply for citizenship by naturalization.

5.        

CPI-based Inflation or Retail Inflation

• Retail inflation refers to the increase in the overall price level of goods and services as experienced by consumers in an economy.
• It is typically measured by the Consumer Price Index (CPI), which tracks the changes in prices of a basket of goods and services commonly purchased by households.

6.        

Dehyphenation

Dehyphenation in international relations refers to the practice of engaging with countries independently, rather than grouping them together based on regional or ideological affiliations.

7.        

Delta

• Deltas are wetlands that form as rivers empty their water and sediment into another body of water, such as an ocean, lake, or another river. 
• It is a “depositional feature of a river formed at the mouth of the river. 

8.        

Free Trade Agreement

A free trade agreement reduces barriers to imports and exports between countries by eliminating all or most tariffs, quotas, subsidies, and prohibitions.

9.        

Foreign Exchange Market

 The foreign exchange market is an over-the-counter (OTC) marketplace that determines the exchange rate for global currencies.

10.    

Foreign Trade Policy

It is a set of guidelines and instructions established by the DGFT in matters related to the import and export of goods in India. The Government of India, Ministry of Commerce and Industry announces Export Import Policy every five years.

11.    

Foreign portfolio investment

Foreign portfolio investment (FPI) is securities and other assets passively held by foreign investors, allowing individuals to invest overseas.

12.    

GI Tag

• A GI tag is conferred upon products originating from a specific geographical region, signifying unique characteristics and qualities.
• Essentially, it serves as a trademark in the international market.

13.    

Global navigation satellite system

The global navigation satellite system is a term used to refer to any satellite-based navigation system, including the United States’ Global Positioning System (GPS).

14.    

Low Income Country

The World Bank classifies economies for analytical purposes into four income groups: low, lower-middle, upper-middle, and high income. The Low Income designation is defined by the World Bank as all countries with a gross national income per capita less than USD 1,036.

15.    

Import Tariff

Import tariffs are taxes charged by the customs authority on the importation of goods into a country.

16.    

Micro, Small and Medium Enterprises (MSMEs)

• MSMEs support industries as ancillary units, thereby contributing enormously to the overall industrial development of the country.
• Classification:
• Micro enterprise: An enterprise where the investment in the plant and machinery or equipment does not exceed ?1 crore, and turnover does not exceed ?5 crores.
• Small enterprise: An enterprise where the investment in the plant and machinery or equipment does not exceed ?10 crores, and turnover does not exceed ?50 crores.
• Medium enterprise: An enterprise where the investment in the plant and machinery or equipment does not exceed ?50 crores, and turnover does not exceed ?250 crores.

17.    

Micro Finance Institutions (MFIs)

• MFIs are institutions primarily focused on providing microfinance services to individuals and small entrepreneurs, particularly in rural and economically disadvantaged areas.
• MFIs are normally registered as Non-Banking Financial Companies-Microfinance Institutions (NBFC-MFIs) in India and are subject to RBI regulation.

18.    

Non-Banking Financial Companies (NBFCs) 

• While offering a wide variety of financial services, NBFCs are a diversified class of financial firms that do not possess a banking licence.
• They are governed by the RBI in accordance with the RBI Act of 1934 and operate under the Companies Act.

19.    

National Register of Citizens (NRC)

The National Register of Citizens (NRC), established in 1951, serves as a comprehensive database of Indian citizens. It is kept within the administrative domains of deputy commissioners and sub-divisional officers.

20.    

Nuclear Capable Missile

Simply put, it is the ability to carry a nuclear warhead. It can carry either a conventional warhead or a nuclear one.

21.    

Net Metering

Net metering enables households with rooftop solar systems to feed surplus energy into the grid, offsetting their electricity bills. This mechanism promotes renewable energy adoption by incentivizing consumers to generate and utilize their own solar power efficiently while contributing to the overall energy grid.

22.    

Oceania

Oceania is collective name for the islands scattered throughout most of the Pacific Ocean. The term, in its widest sense, embraces the entire insular region between Asia and the Americas. 

23.    

PLI scheme

PLI scheme is an initiative that provides incentives to domestic industries to boost local production.

24.    

Processed agricultural products (PAPs)

PAPs are non-agricultural food and drink items made out of agricultural products.

25.    

Repo Rate

• Repo Rate full form is Repurchase Agreement or Repurchasing Option.
• Repo rate refers to the rate at which commercial banks borrow money by selling their securities to Reserve Bank of India (RBI) to maintain liquidity, in case of shortage of funds or due to some statutory measures.
• The current Repo Rate in India, fixed by RBI is 6.50%

26.    

Supersonic

• Supersonic refers to any object traveling faster than the speed of sound. When an object moves faster than the speed of sound, it is actually “outrunning” the sound waves it generates as it moves.

27.    

Social security

Social Security in India includes a variety of statutory insurances and social grant schemes bundled into a formerly complex and fragmented system run by the Indian government at the federal and state level. 

28.    

Trade Deficit

A trade deficit occurs when a country's imports exceed its exports during a given time period. It is also referred to as a negative balance of trade (BOT).

29.    

Very small aperture terminal (VSAT)

A very small aperture terminal (VSAT) is a two-way ground station that transmits and receives data from satellites. A VSAT is less than three meters tall and is capable of both narrow and broadband data to satellites in orbit in real-time.

30.    

Zero-food children

They are those between 6-23 months who had not consumed any animal milk, formula, solid, or semisolid food in the last 24 hours.