Economy Booster

 Role of Finance Ministry in Monetary and Fiscal Policy Fiscal role of ministry of finance The Ministry of Finance plays a very crucial role in development planning in India. It supervise the financial institution and is responsible for the overall financial management of the country. The Ministry of Finance is responsible for the … Read more

   Changes  in  cropping  pattern Cropping pattern means the proportion of area under various  crops  at  a  point of  time or  yearly sequence  and  spatial  arrangement  of crops  and Changes  in  cropping  pattern Cropping pattern means the proportion of area under various  crops  at  a  point of  time or  yearly sequence  and  spatial  arrangement … Read more

 Fisheries: ‘Fisheries’ sector is becoming a subsector of Primary sector with consistently increasing contribution to the state economy. The state government envisages development in fisheries sector with a multi pronged strategy with essential focus on increasing fish production and thereby ensure sustainable development. Development of fisheries through effective value chain and boosting exports, … Read more

 Alternative policy initiatives in agricultural marketing More than three-fifths of India’s population draws their livelihood from agriculture that adds just one-fifth to its GDP. There should be obvious serious concerns about efficient functioning of this sector both in terms of its output / productivity and its marketing. While output and productivity are supply … Read more

 Alternative policy initiatives in agricultural marketing More than three-fifths of India’s population draws their livelihood from agriculture that adds just one-fifth to its GDP. There should be obvious serious concerns about efficient functioning of this sector both in terms of its output / productivity and its marketing. While output and productivity are supply … Read more

 Sectoral Composition with respect to contribution to Gross Domestic Product (GDP) and Employment Historically, India has classified and tracked its economy and GDP in three sectors: agriculture, industry and services. Agriculture includes crops, horticulture, milk and animal husbandry, aquaculture, fishing, sericulture, aviculture, forestry and related activities. Industry includes various manufacturing sub-sectors. India’s definition … Read more

 Low per capita income:   In India, the national income and per capita income is very low and it is considered as one of the basic features of underdevelopment. As per World Bank estimates, the per capita income of India stood at only $ 1900 in 2017. Excessive dependence of agriculture and primary producing … Read more

 Market Economy A market economy is a system where the laws of supply and demand direct the production of goods and services. Supply includes natural resources, capital, and labor. Demand includes purchases by consumers, businesses, and the government.  Businesses sell their wares at the highest price consumers will pay. At the same time, shoppers look for the lowest prices … Read more

 Tax Laws: Laws relating to income, Profits, Wealth Tax, Corporate Tax The Income-tax Act, 1961 The Income Tax Act, focusing on the rules and regulations of tax regulation, was initially put into existence in the year 1961. Under this act, everything related to taxation and more are mentioned which also includes collection and … Read more

   Iron and Steel Industry:   Pig Iron Pig iron is the intermediate product of smelting of iron ore with a high-carbon fuel such as coke and charcoal and is the basic raw material in Foundry and Casting Industry for the manufacture of various types of castings required for … Read more