Meaning and Measurement of Economic Development

Economic Growth Economic growth means an increase in real GDP. This increase in real GDP means there is an increase in the value of national output / national expenditure. Economic growth is an important macro-economic objective because it enables increased living standards and helps create new jobs. Measurement of Economic Growth Economic growth is measured … Read more

Globalization of Indian economy ; its positive and negative impacts on different sectors, issues of FDI and FII in India.

Globalization essentially means integration of the national economy with the world economy. It implies a free flow of information, ideas, technology, goods and services, capital and even people across different countries and societies. It increases connectivity between different markets in the form of trade, investments and cultural exchanges. The concept of globalization has been explained … Read more

Structure of Indian monetary and banking system in India

Indian Money Market and Banking system is regulated by Reserve Bank of India.The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. Main Functions of RBI are as follows:- Monetary Authority: Formulates, implements and monitors the monetary policy. Objective: maintaining price … Read more

concept of VAT

VAT is a multi-stage tax levied at each stage of the value addition chain, with a provision to allow input tax credit (ITC) on tax paid at an earlier stage, which can be appropriated against the VAT liability on subsequent sale. VAT is intended to tax every stage of sale where some value is added … Read more

Fiscal Policy : Concept and role of fiscal policy in achieving employment, stability and economic development.

Fiscal policy is that part of Government policy which is concerned with raising revenues through taxation and other means along with deciding on the level and pattern of expenditure it operates through budget. However, generally the expenditure exceeds the revenue income of the Government. In order to meet this situation, the Government imposes new taxes … Read more

Public Expenditure : Theories of public expenditure; causes of growth of public expenditure and its impact on economy; internal and external borrowings.

Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision, infrastructure, etc. Until the 19th century, public expenditure was limited as laissez faire philosophies believed that money left in private hands could bring better returns. In democracy, public expenditure is an expression of people’s will, … Read more

Industrial Economy: Policy Initiative & charges

The Indian Government had undertaken industrial policy reforms since 1980, but the most radical reforms have occurred since 1991, after the severe economic crisis in fiscal year 1990-91. These reforms mainly aimed at enhancing the efficiency and international competitiveness in Indian industry. Growth in the industrial sector is one of the vital figures that affect … Read more

Ever Green Revolution and Rainbow revolution

Evergreen Revolution was a term coined by M.S. Swaminathan¬†to indicate the development of ¬†technologies that can help in increasing productivity in perpetuity without causing an associated ecological harm.He also stated that to achieve the goal of food security by ending hunger and to promote sustainable agriculture, it is important that in the field of social … Read more

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