Economic Terminology

ADB: Asian Development Bank

ADR: American Depositary Receipt

AIDWA: All India Democratic Woman’s Association

AITUC: All India Trade Union Congress

AMFI: Association of Mutual Funds in India

APEC: Asia-Pacific Economic Cooperation

APL: Above Poverty Line
APM: Administered Pricing Mechanism

ARC: Asset Reconstruction Company
ARDR: Agricultural and Rural Debt Relief

ASBA: Application Supported by Block Amount
ASEAN: Association of South-East Asian Nations
ASEM: Asia-Europe Meeting
ASSOCHAM: Associated Chambers of Commerce and Industry

ATM: Automatic Teller Machine
BIFR: Board of Industrial and Financial Reconstruction

BCBS: Basel committee for Banking Supervision
BCSBI: Banking Codes and Standards Board of India

BIS: Bureau of Indian Standards

BOLT: BSE On-Line Trading (System)

BOT: Build, Operate and Transfer

BPL: Below Poverty Line
BPO: Business Process Outsourcing
BSE: Bombay Stock Exchange
CA: Chartered Accountant
CABE: Central Advisory Board of Education

CACP: Commission of Agriculture Cost and Price
C & AG: Comptroller & Auditor General

CAMELS: C - Capital adequacy, A - Asset quality, M - Management quality, E – Earnings, L – Liquidity, S - Sensitivity to Market Risk

CAPART: Council for People’s Action and Advancement of Rural Technology

CAR: Capital adequacy ratio

CARE: Credit Analysis & Research Ltd.

CBS: Core banking solution

CCI: Competition Commission of India

CCIL: Clearing Corporation of India limited

CDSL: Central Securities Depository Limited
CECA: Comprehensive Economic Cooperation Agreement

CEPA: Comprehensive Economic Partnership Agreement
CIBIL: Credit Information Bureau (India) Ltd

CII: Confederation of Indian Industry
CIS: Commonwealth of Independent States
CHOGM: Commonwealth Heads of Government Meeting
CITES: Convention on International Trade in Endangered Species
CITU: Centre Of Indian Trade Unions
CMP: Common Minimum Programme
CPI (UNME): The Consumer Price Index for Urban Non-Manual Employees.

CPI (AL): Consumer Price Index for Agricultural Laboures.

CPI (IW): Consumer Price Index for Industrial Workers

CPI (RL): Consumer Price Index for Rural Labourers

CRAR: Capital to Risk (Weighted) Assets Ratio

CRISIL: Credit Rating Information Services of India Limited
CRR: Cash Reserve Ratio
CSIR: Council of Scientific and Industrial Research

CST: Central Sales Tax

CTT: Commodities Transaction Tax
DA: Dearness Allowance; Daily Allowance
DMIC: Delhi-Mumbai Industrial Corridor
DPEP: District Primary Education Programme

ECA: Essential Commodity Act
ECB: External Commercial Borrowings

ECS: Electronic clearing system

EDUSAT: Education Satellite

EEE: Exempt Exempt Exempt
EET: Exempt Exempt Taxation
EFA: Education for All

EFT: Electronic fund transfer
EEFC Accounts: Exchange Earners Foreign Currency Account

EGoM: Empowered Group of Ministers

EMI: Equated Monthly Installment
EMS: European Monetary System
ERNET: Educational and Research Network
ESA: European Space Agency
ESCAP: Economic and Social Commission for Asia and Pacific
ESMA: Essential Services Maintenance Act
ESOP: Employee Stock Option Programme
EU: European Union
FAO: Food and Agriculture Organisation
FCCB: Foreign Currency Convertible Bond
FCNR: Foreign Currency (Non-Resident) Accounts Scheme

EPF: Employees Provident Fund

EPFO: Employees Provident Fund Organization

FDI: Foreign Direct Investment
FEMA: Foreign Exchange Management Act
FERA: Foreign Exchange Regulations Act
FICCI: Federation of Indian Chambers Of Commerce and Industry

FII: Foreign Institutional Investors
FIPB: Foreign Investment Promotion Board (Of India)

FMCG: Fast Moving Consumer Goods

FPO: Follow on Public Offer
FRBM: Fiscal Responsibility And Budget Management
FSSA: Food Safety And Standards Authority (Of India)
FTA: Free Trade Area

GATT: General Agreement On Tariffs And Trade
GCC: Gulf Cooperation Council

GDP: Gross Domestic Product

GDR: Global Depositary Receipt
GEF: Global Environment Fund

GIC: General Insurance Corporation
GNP: Gross National Product

GST: Goods and Service Tax

HDFC: Housing Development Finance Corporation Limited
HDI: Human Development Index

HSBC: Hongkong and Shanghai Banking Corporation Limited

HUDCO: Housing And Urban Development Corporation
IAAI: International Airport Authority Of India

IAAS: Indian Audit and Accounts Service

IADF: International Agricultural Development Fund

IAEA: International Atomic Energy Agency

IAEA: International Atomic Energy Agency

IASB: The International Accounting Standards Board
IBRD: International Bank for Reconstruction And Development

ICAI:  Institute of Chartered Accountants of India

ICAR: Indian Council of Agricultural Research
ICCW: Indian Council for Child Welfare
ICDS: Integrated Child Development Service
ICMR: Indian Council of Medical Research

ICICI: Industrial Credit and Investment Corporation of India

ICOR: Incremental capital output ratio
ICRC: International Committee of Red Cross
IDA: International Development Association

ICRA: Investment information and Credit Rating Agency
IES: Indian Economic Service
IEX: Indian Energy Exchange
IFRS: International Financial Reporting Standard
IFSC: Indian financial system code
IFTU: International Federation of Trade Unions
IFWJ: Indian Federation of Working Journalists
IIP: The Index of Industrial Production
IIPA: Indian Institute of Public Administration
IISS: International Institute of Strategic Studies
ILO: International Labour Organisation
IMF: International Monetary Fund
IMO: International Maritime Organisation

IDR: Indian Depository Receipts
IDBI: Industrial Development Bank of India

IMF: International monetary fund

IMRB: Indian Market Research Bureau

INMARSAT: International Maritime Satellite Organisation
INTERPOL: International Police Organisation
INTUC: Indian National Trade Union Congress
IOC: International Olympic Committee
IPCC: Intergovernmental Panel on Climate Change
IPEC: International Programme on Elimination Of Child Labour

IPO: Initial public offer
IPR: Intellectual Property Right
IRDA: Insurance Regulatory and Development Authority
IREP: Integrated Rural Energy Planning
ISO: International Standardisation Organisation
ISS: International Space Station
ITDC: Indian Tourism Development Corporation
ITO: International Trade Organisation; Income-Tax Officer
ITU: International Tele-Communication Union
JNNURM: Jawahar Lal Nehru National Urban Renewal Mission
KPO: Knowledge Process Outsourcing

KYC: Know your customer

LDC: Least Developed Countries

LIBOR: London Inter Bank Offer Rate
LIC: Life Insurance Corporation (Of India)
LLP: Limited Liability Partnership
MAT: Minimum Alternative Tax

MAIT: Manufacturers’ Association for Information Technology

MCAP: Market capitalization / Mid cap

MDG: Millennium development goals
MEP: Minimum Export Price

MFA: Multi-Fibre Agreement

MFI: Micro finance institution

MFIN: Micro finance institution network
MFN: Most Favoured Nation

MIBOR: Mumbai Interbank offer rate

MIN: Mutual fund identification no.

MNC: Multi-National Corporation
MRTPC: Monopolies and Restrictive Trade Practices Commission
MRTS: Mass Rapid Transit System
MSME: Micro Small and Medium Enterprises

MSP: Minimum support price
MTO: Multilateral Trade Organisation

NABARD: National Bank for Agriculture and Rural Development.

NAEP: National Adult Education Programme

NAFED: National Agricultural Cooperative Marketing Federation of India Ltd
NAFTA: North America Free Trade Agreement

NAM: Non-Aligned Movement
NAMA: Non-Agriculture Market Access
NASDAQ: National Association of Securities Dealers Automated Quotation
NATO: North Atlantic Treaty Organisation
NAV: Net Asset Value

NBFC: Non Banking Finance Companies

NCAER: National Council Of Applied Economic Research
NCERT: National Council Of Education Research And Training

NCPCR: National Commission for Protection of Child Rights

NDC:  National Development Council

NEFT: National Electronic Fund Transfer
NEGP: National E-Governance Plan
NEP: National Education Policy
NFO: New Fund Offers

NHAI: National Highways Authority of India
NHDP: National Highways Development Project
NHRC: National Human Rights Commission
NIFT: National Institute of Fashion Technology
NIO: National Institute of Oceanography
NLMA: National Literacy Mission Authority

NMDC: National Mineral Development Corporation

NNP: Net National Production

NPA: Non Performing Asset
NPR: National Population Register
MGNREGA: National Rural Employment Guarantee Act
NSE: National Stock Exchange
NSDL: National Securities Depository Limited
NSE: National Stock Exchange

NSSO: National Sample Survey Organization
NTPC: National Thermal Power Corporation
ODA: Official Development Assistance
OECD: Organisation of Economic Co-Operation and Development
OGL: Open General License
OIC: Organisation of Islamic Countries
OIL: Oil India Limited

OMCS: Oil Marketing Companies
ONGC: Oil And Natural Gas Commission
OPEC: Organisation Of Petroleum Exporting Countries

OSCE: Organisation For Security And Cooperation In Europe
PAC: Public Accounts Committee
PAN: Permanent Account Number (Of Income-Tax)
PATA: Pacific-Asia Travel Association

PCI: Per capita income

PDS: Public Distribution System
PIL: Public Interest Litigation
PIO: Persons Of Indian Origin
PN: Participatory Note
PoP: Point Of Purchase

PPF: Public Provident Fund

PPP: Public private partnership / Purchasing power parity

PTA: Preferential Trade Area

PURA: Providing urban amenities in rural areas

QIB: Qualified Institutional Buyer

QIP: Qualified Institutional Placement
QR: Quantitative Restriction
RBI: Reserve Bank Of India

RIDF: Rural infrastructure development fund

RRB: Regional Rural Bank
RRPI: Rural Retail Price Index
RTGS: Real Time Gross Settlement System
SAARC: South Asian Association for Regional Co-Operation
SAFTA: South Asian Free Trade Area
SAIL: Steel Authority of India Limited
SAPTA: SAARC Preferential Trading Agreement

SARFAESI ACT: The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
SCO: Shanghai Cooperation Organisation
SCOPE: Standing Conference On Public Enterprises
SDR: Special Drawing Rights
SEBI: Securities And Exchange Board Of India

SEZ: Special Economic Zone
SIDBI: Small Industries Development Bank of India
SEWA: Self employed woman’s association
SLR: Statutory Liquidity Ratio
STT: Securities Transaction Tax
SWIFT: Society for Worldwide Financial Telecommunications
TDS: Tax Deduction at Source

TIFR: Tata Institute Of Fundamental Research
TIN: Tax Information Network
TINXSYS: Tax Information Exchange System
TISCO: Tata Iron and Steel Company

TPDS: Targeted Public Distribution System
TRAI: Telecom Regulatory Authority Of India
TRIMS: Trade Related Investment Measures
TRIPS: Trade Related Intellectual Property Rights
TRYSEM: Training Of Rural Youth For Self Employment
UN: United Nations
UNCTAD: United Nations Conference On Trade And Development
UNDP: United Nations Development Programme
UNEF: United Nations Emergency Force
UNEP: United Nations Environment Programme
UNESCO: United Nations Educational, Scientific And Cultural Organisation

UNFCCC: United nation framework convention on climate change
UNFPO: United Nations Fund For Population Activities
UNHCR: United Nations High Commissioner For Refugees
UNHRC: United Nations Human Rights Commission
UNICEF: United Nations International Children’s (Emergency) Fund
UNIDO: United Nations Industrial Development Organisation
UNRRA: United Nations Relief And Rehabilitation Administration
VAT: Value-Added Tax
VDIS: Voluntary Disclosure Of Income Scheme
VRS: Voluntary Retirement Scheme
WEF: World Economic Forum
WFP: World Food Programme

WHO: World Health Organization

WIPO: World Intellectual Property Organisation
WTO: World Trade Organisation (Previously Called GATT)