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

Parliament’s control over Executive;

Parliament is the supreme law making body of the nation.The Council of Ministers is collectively responsible to the Lok Sabha. The Lok Sabha is empowered to pass a vote of censure against the ministry. Whenever such a motion is passed, the ministry has to resign. There are several means of Parliament’s control over Executive such … 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

State Legislature : Organization, Powers and functions, with special reference to Jharkhand

Articles 168 to 212 in Part VI of the Constitution deal with the organisation, composition, duration, officers, procedures, privileges, powers and so on of the state legislature.In most of the States, the Legislature consists of the Governor and the Legislative Assembly (Vidhan Sabha). This means that these State have unicameral Legislature. In a Six States( … Read more

Pricing of agricultural inputs and outputs.

Agricultural prices cover prices of agricultural products (output prices) and prices of requisites for agricultural production (input prices) at various stages of marketing. The structure of Indian agricultural marketing system consists of: Agricultural Co-operative Marketing Societies; Regulated Markets; Public Trading and Futures Trading. Commission for Agricultural Costs and Prices (CACP)  while recommending the minimum support prices … Read more

Emergency Provisions of the Constitution

An emergency is a situation demanding immediate action.The emergency provisions under Indian constitution can be traced back to the British rule in India, when by Act of parliament crown established its sovereignty over company’s territories in India in 1861 . The Governor General under the provisions exercised wide powers both legislative and executive. He was … 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

Agricultural Marketing

Agricultural marketing is the study of all the activities, agencies and policies involved in the procurement of farm inputs by the farmers and the movement of agricultural products from the farms to the consumers. The agricultural marketing system is a link between the farm and the non-farm sectors. It includes the organization of agricultural raw … Read more

Concept of Developing, Emerging and Developed countries.

  In 1978, the World Bank, for the first time, constructed an analytical country classification system. The occasion was the launch of the World Development Report. Annexed to the report was a set of World Development Indicators (WDI), which provided the statistical underpinning for the analysis. The first economic classification in the 1978 WDI divided … Read more