Indian economy

Millenium Development Goals 1. Eradicate extreme poverty and hunger 2. Achieve universal primary education 3. Promote gender equality and empower women 4. Reduce child mortality 5. Improve maternal health 6. Combat HIV/AIDS, malaria, and other diseases 7. Ensure environmental sustainability 8. Develop a global partnership for development

Financial Inclusion Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. Government of India has launched an innovative scheme of Jan Dhan Yojna for Financial Inclusion to provide … Read more

Money Supply Money supply is the entire stock of currency and other liquid instruments in a country’s economy as of a particular time. The money supply can include cash, coins and balances held in checking and savings accounts. Money Supply can be estimated as narrow or broad money. There are four measures of money supply … Read more

Indian Public Finance Value Added Tax Under the constitution the States have the exclusive power to tax sales and purchases of goods other than newspapers There are however defects of sales tax It is regressive in nature. Families with low income a larger proportion of their income as sales tax. Has a cascading effect – … Read more

Public Finance Public finance is the study of the role of the government in the economy. It is the branch of economics which assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. It includes the study of … Read more

Subsidies- Cash Transfer of Subsidy Issue. A subsidy is a benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy is usually given to remove some type of burden and is often considered to be in the interest of the public. Direct Cash … Read more

Tax Reforms in India Sience 1990 ie the liberalization of Indian economy saw the beginning of Taxation reforms in the nation. The taxation system in the nation has been subjected to consistent and comprehensive reform. Following factors arise the need for tax reforms in India:- Tax resources must be maximized for increased social sector investment in … Read more

Budgeting Budgeting is the process of estimating the availability of resources and then allocating them to various activities of an organization according to a pre-determined priority. In most cases, approval of a budget also means the approval to various spending units to utilize the allocated resources. Budgeting plays a criucial role in the socio-economic development … Read more

  Dadabhai Naoroji: ‘Poverty in India’ (1876) He claimed that the drain of wealth and capital from the country which started after 1757 was responsible for absence of development in India. Drain was done through trade, industry and finance Two elements of the drain That arising from the remittances by European officials of their savings, … Read more