Budgetary deficit – Revenue, Primary and Fiscal.

Budgetary Deficit is the difference between all receipts and expenditure of the government, both revenue and capital. This difference is met by the net addition of the treasury bills issued by the RBI and drawing down of cash balances kept with the RBI. The budgetary deficit was called deficit financing by the government of India. … Read more

Fiscal Policy

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

Center State Financial Relations and latest Finance Commission.

Under the Constitution the financial resources of the State are very limited though they have to do many works of social uplift under directive principles. In order to cope with their ever-expanding needs, the Central Government makes grants-in-aid to the States. Grant- in-aid to States , through it Central Government exercises a strict control over … Read more

World Bank, International Monetary Fund (IMF) and Asian Development Bank (ADB).

The International Bank for Reconstruction and Development (IBRD), commonly referred to as the World Bank, is an international financial institution whose purposes include assisting the development of its member nation’s territories, promoting and supplementing private foreign investment and promoting long-range balance growth in international trade. The World Bank was established in December 1945 at the … Read more

Balance of payments and Devaluation

Balance of Payments is a systematic record of all economic transactions undertaken by residents of one country i.e. households, firms and the government with their counterparts in rest of the world. It consists of: 1. Current Account, 2. Capital Account and 3. Reserve Account. The Current Account covers transactions in goods and services and transfers … Read more

Indian planning since 1951: Objective and Achievements.

First Plan (1951 – 56) Target Growth : 2.1 % Actual Growth 3.6 % It was based on Harrod-Domar Model. Influx of refugees, severe food shortage & mounting inflation confronted the country at the onset of the first five year Plan. The Plan Focussed on agriculture, price stability, power and transport It was a successful … Read more

Credit Supply- Bank for Agricultural and Rural Development (NABARD),

68.84% of the population in India is rural based and majority of them depends on agriculture for a living. Enhanced and stable growth of the agriculture sector is important as it plays a vital role not only in generating purchasing power among the rural population by creating on-farm and off-farm employment opportunities but also through … Read more

National Income – Measurement and composition

National Income The study of National Income is important because of the following reasons: To see the economic development of the country. To assess the developmental objectives. To know the contribution of the various sectors to National Income. Internationally some countries are wealthy, some countries are not wealthy and some countries are in-between. Under such … Read more

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