Important Abbreviations in Economic Survey 2017 – 2018

Dear Aspirants,

Economic Survey is presented by the Department of Economic Affairs, Ministry of Finance every year before the Union Budget is released. The Economic Survey is the Annual Economic Development of the Country from the Finance Ministry’s view. This Economic Survey of India charts down the development programs which are vital to the country and the policy initiatives of the government and also the prospects of the economy in medium or small term.

The Economic Survey is presented in both the houses of the Parliament during the budget session. The Budget will be released in the forthcoming days and we will also update the Budget Highlights in our website soon.

Since many abbrevations are asked in the IBPS CLERK MAINS EXAM and also in the recently held south Indian bank Clerk Exam , we thought of providing the important Abbreviations which are mentioned in the Economic Survey 2017 – 2018. This will be a total list of the important abbreviations from the Economic Survey 2017 – 2018.

• 3MMA                  3 Month Moving Average
• AAY                      Antyodaya Anna Yojana
• ARM                     Additional Resource Mobilization
• ASEAN                Association of South East Asian Nations
• ASER                    Annual Status of Education Report
• AT&C                   Aggregate Technical and Commercial
• BCM                      Billion Cubic Meter
• BE                         Budget Estimates
• BPCL                     Bharat Petroleum Corporation Limited
• BRICS                   Brazil, Russia, India, China and South Africa
• CAA&A                Controller of Aid Accounts and Audit
• CAD                      Current Account Deficit
• CAG                      Comptroller and Auditor General of India
• CAGR                   Compound Annual Growth Rate
• CBR                       Cultivated Biological Resources
• CFPI                      Consumer Food Price Index
• CGA                      Controller General of Accounts
• CGST                    Central Goods and Services Tax
• CIC                        Currency in Circulation
• CIRP                     Corporate Insolvency Resolution Process
• CLSS                      Credit Linked Subsidy Scheme
• CoC                       Committee of Creditors
• COP                      Conference of Parties
• CPI                        Consumer Price Index
• CPI (AL)               Consumer Price Index (Agricultural Labourers)
• CPI (C)                  Consumer Price Index (Combined)
• CPI (IW)               Consumer Price Index (Industrial Workers)
• CPI (RL)               Consumer Price Index (Rural Labourers)
• CRAR                    Capital to Risk-weighted Asset Ratio
• CSA                       Climate Smart Agriculture
• CSO                       Central Statistics Office
• CTA                      Customs Tariff Act
• CV                         Coefficient of Variation
• CwP                       Currency with Public
• DALYs                 Disability Adjusted Life Years
• DARE                   Department of Agricultural Research and Education
• DBT                      Direct Benefit Transfer
• DBTL                    Direct Benefit Transfer of LPG
• DDA                     Doha Development Agenda
• DGCI&S              Directorate General of Commercial Intelligence and Statistics
• DGFT                   Directorate General of Foreign Trade
• DIPAM                 Department of Investment and public Asset Management
• DIPP                     Department of Industrial Policy and Promotion
• DISCOMS            Distribution Companies
• DSIR                     Department of Scientific & Industrial Research
• DTA                      Domestic Tariff Area
• EBRD                   European Bank for Reconstruction and Development
• EFTA                    European Free Trade Association
• EIB                       European Investment Bank
• e-NAM                  Electronic National Agriculture Market
• EPCG                   Export Promotion on Capital Goods
• ER&D                  Engineering R&D
• ETF                       Exchange Traded Fund
• EU                         European Union
• EWRs                   Elected Women Representatives
• FAO                      Food & Agriculture Organisation
• FC                          Financial Creditor
• FCI                        Food Corporation of India
• FDI                       Foreign Direct Investment
• FEEs                     Foreign Exchange Earnings
• FFPI                      FAO Food Price Index
• FII                         Foreign Institutional Investor
• FIPB                      Foreign Investment Promotion Board
• FTAs                     Foreign Tourist Arrivals
• FTP                       Foreign Trade Policy
• FY                         Financial Year
• GCA                      Gross Cropped Area
• GCC                      Gulf Cooperation Council
• GCCA                   Grants for creation of capital assets
• GCF                      Gross Capital Formation
• GDP                      Gross Domestic Product
• GFCE                   Government Final Consumption Expenditure
• GFCF                    Gross Fixed Capital Formation
• GII                        Global Innovation Index
• GNI                      Gross National Income
• GNPA                   Gross Non-Performing Advances
• GPI                       Gender Parity Index
• GSDP                    Gross State Domestic Product
• GST                       Goods and Services Tax
• GSVA                   Gross State Value Added
• GT                         Gross Tonnage
• GVA                     Gross Value Added
• GW                       Gigawatt
• HFCs                     Housing Finance Companies
• HFCs                     Hydrofluorocarbons
• HPCL                    Hindustan Petroleum Corporation Limited
•  HPI                      Housing Price Index
• HYVs                    High Yielding Varieties
• IBC                        Insolvency and Bankruptcy Code
• ICAR                     Indian Council of Agricultural Research
• IGS                        The International Ground Station
• IGST                     Integrated Goods and Services Tax
• IMF                       International Monetary Fund
• IPO                       Indian Patent Office
• IPP                        Intellectual Property Products
• IPR                        Intellectual Property Rights
• IPU                        Inter-Parliamentary Union
• IRS                        Indian Remote Sensing
• ISS                         Interest Subvention Scheme
• IT-BPM                Information Technology – Business Process Management
• ITC                        Input Tax Credit
• KCC                      Kisan Credit Card
• KWh                     Kilowatt Hour
• LAF                       Liquidity Adjustment Facility
• LEB                       Life Expectancy at Birth
• LED                      Light-Emitting Diode
• LEO                      Low Earth Orbit
• LFPR                     Labour Force Participation Rate
• LIC                        Life Insurance Corporation of India
• LPG                       Liquefied Petroleum Gas
• LPI                        Logistics Performance Index
• M/o DWS            Ministry of Drinking Water & Sanitation
•  M/o H&FW        Ministry of Health & Family Welfare
•  M/oPR                 Ministry of Panchayati Raj
• M0                         Reserve Money
• M3                         Broad money
• MC11                    Eleventh Ministerial Conference
• MDGs                   Millennium Development Goals
• MEIS                    Merchandise Exports from India Scheme
• MEP                      Minimum Export Price
• MIG                      Middle Income Group
• MIP                       Minimum Import Price
• MLAs                    Member of Legislative Assemblies
• MMR                     Maternal Mortality Ratio
• MMT                     Million Metric Tonne
• MMTPA               Million Metric Tonnes Per Annum
• MNEs                   Manufacturing Multinational Enterprises
• MoEFCC              Ministry of Environment, Forest and Climate Change
• MPC                      Monetary Policy Committee
• MSF                       Marginal Standing Facility
• MSME                  Micro, Small & Medium Enterprises
• MSP                       Minimum Support Price
• MSS                       Market Stabilisation Scheme
• MT                        Metric Tonne
• MW                       Megawatt
• NABARD             National Bank for Agriculture and Rural Development
• NAREDCO          National Real Estate Development Council
• NAS                      National Accounts Statistics
• NBFC                    Non-Banking Financial Company
• NBFCs                  Non-Banking Financial Companies
• NCDs                    Non-Convertible Debentures
• NCLT                    National Company Law Tribunal
• NCT                      National Capital Territory
• NCW                     National Commission for Women
• NDTL                   Net Demand and Time Liabilities
• NFC                      Non Food Credit
• NFSA                    National Food Security Act
• NHA                     National Health Accounts
• NHB                     National Housing Bank
• NHDP                  National Highways Development Project
• NICRA                 National Innovations on Climate Resilient Agriculture
• NITI                     National Institution for Transforming India
• NPAs                    Non-Performing Assets
• NSDC                   National Skill Development Council
• NSSO                    National Sample Survey Office
• ODF                      Open Defecation Free
• OMSS                    Open Market Sale Scheme
• OoPE                    Out of Pocket Expenditure
• P2P                        Peer to Peer
• PA                         Provisional Actuals
• PDS                       Public Distribution System
• PE                         Private Equity
• PFCE                    Private Final Consumption Expenditure
• PL                          Personal Loan
• PMAY                   Pradhan Mantri Awas Yojana
• PMFBY                 Pradhan Mantri Fasal Bima Yojana
• PMI                       Purchasing Manager’s Index
• PMKSY                Pradhan Mantri Krishi Sinchayee Yojana
• POL                       Petroleum Oil and Lubricants
• PoS                        Point of Sale
• PPI                        Producer Price Index
• PRIs                      Panchayati Raj Institutions
• PSB                        Public Sector Bank
• PSBs                      Public Sector Banks
• PSE                       Public Sector Enterprise
• PSF                        Price Stabilization Fund
• PTR                       Pupil Teacher Ratio
• PVB                       Private Sector Bank
• QFI                       Qualified Foreign Investor
• R&D                     Research and Development
• RBI                        Reserve Bank of India
• RE                         Revised Estimates
• REITs                   Real Estate Investment Trusts
• RGI                       Registrar General of India
• RMSA                   Rashtriya Madhyamik Shiksha Abhiyan
• RoA                       Return on Assets
• RoE                       Return on Equity
• RRBs                     Regional Rural Banks
• RRR                       Reverse Repo Rate
• RSA                       Restructured Standard Advances
• RTE                      Right to Education
• SA                          Stressed Advances
• SBM(G)                Swachh Bharat Mission (Gramin)
• SCB                       Scheduled Commercial Bank
• SDG                      Sustainable Development Goal
• SDGs                    Sustainable Development Goals
• SDR                       Special Drawing Rights
• SEBI                     Securities and Exchange Board of India
• SEIS                      Services Exports from India Scheme
• SGST                     State Goods and Services Tax
• SHG                      Self Help Group
• SLR                        Statutory Liquidity Ratio
• SRR                       Seed Replacement Rate
• SSA                        Sarva Shiksha Abhiyaan
• SUUTI                  Specified Undertaking for Unit Trust of India
• TAN                      Tax Deduction Account Number
• TB                         Treasury Bill
• TPDS                    Targeted Public Distribution System
• TRAI                     Telecom Regulatory Authority of India
• UDAY                  Ujjwal Discom Assurance Yojna
• UDISE                  Unified District Information System for Education
• ULBs                     Urban Local Bodies
• UN                        United Nations
• UNCTAD             United Nations Conference on Trade and Development
• UNDP                   United Nations Development Programme
• UNESCO             United Nations Educational, Scientific and Cultural Organization
• USD                      United States Dollar
• USGS                    United States Geological Survey
• UTs                       Union Territories
• VGF                      Viability Gap Funding
• VRR                      Varietal Replacement Rate
• WACR                  Weighted Average Call Rate
• WPI                       Wholesale Price Index
• WTO                     World Trade Organization

Take a short Quiz from the Abbreviations which you have studied from the list above. This will help you to benchmark your preparations in the abbreviations side. Take the Quiz and comment your scores in the comment section. 

1. What is the Full form of CRAR ?

(A) Capital to Risk-weighted Asset Returns

(B) Capital to Right-weighted Asset Ratio

(C) Capital to Risk – with Assets Ratio

(D) Capital to Risk-weighted Asset Ratio

(E) Capital to Risk-weighted Appropriate Ratio

2. What is the Full form of GNI ?

(A) Gross National Income

(B) Gross Neutral Income

(C) General National Invoice

(D) Gross Near Incorporate

(E) General National Income

3. What is the Full Form of IBC ?

(A) Insolvency and Bankruptcy Code

(B) Insolvency Banking Code

(C) Indirect Banking Corporate

(D) Inherited Bank Cash

(E) Insolvency Bank Cycle

4. What is full form of SCB ?

(A) Scheduled Corporate Banks

(B) Single Concerned Banks

(C) Separate Corporate Banks

(D) Segregated Commercial Banks

(E) Scheduled Commercial Banks

5. What is the full form of CPI ?

(A) Consumer Price Index

(B) Consumer People Index

(C) Costlier Price Incentive

(D) Cost Per Index

(E) Corporate Price Incentive

6. What is the full form of FII ?

(A) First Insitutional Investigator

(B) Foreign Institutional Investor

(C) Field Investor Institutions

(D) Foreign Investor Investigation

(E) Foreign Investor Institution

7. What is the Full Form of IRR ?

(A) Investor Reusable Rate

(B) Internal Repo Rate

(C) Initial Return of Rate

(D) Internal Rate Of Return

(E) Immediate Return Rate

8. What is the full form of NFA ?

(A) No Frills Account

(B) No Fade Amounts

(C) Number of Find Amount

(D) Next Freezing Account

(E) Numbered Fixed Account

9. What is the full form of SRR ?

(A) Statutory Required Rate

(B) Seed Replacement Rate

(C) Send Recovery Rate

(D) Serial Repo Rate

(E) Serial Random Recovery

10. What is the full form of FRN ?

(A) Floating Rate Note

(B) Fixed Repo Rate

(C) Flying Reversed Rate

(D) Floating Repo Rate

(E) Finding Removed Rate

Aspirants can check the answers for the above questions from the options provided below and please comment the scores from the quiz in the link below. 

1. (D)

2. (A)

3. (A)

4. (E)

5. (A)

6. (B)

7. (D)

8. (A)

9. (B)

10. (A)

We have also highlighted the Important points of the Economic Survey 2017 -2018 in BANKERSDAILY. Please click the link below to check the Important updates about the Economic Survey 2017 – 2018.

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