Direct & Indirect Taxes
Direct & Indirect Taxes Direct Tax Indirect Tax Corporation Tax Excise Duties Income Tax Service Tax Interest Tax Central Value Added Tax (Vat) Expenditure Tax Sales Tax Wealth Tax Property Tax Gift Tax … Read more
Indian economy
Miscellaneous Facts:
Miscellaneous Facts: India’s GDP per Capita 622 (US $ PPP). It is 684 US $ for Pakistan. The top 3 countries with external debt are Brazil (235 billion $), China (193 billion $) & Russia (175 billion $). India is 9th with 112 billion $. Functional employment occurs when people change from … Read more
India under the British Rule
The economic consequences of the British rule can be studied under three heads: Decline of Indian Handicrafts and progressive ruralisation of the Indian economy Growth of the new land system and the commercialisation of Indian agriculture Process of industrial transition of India Decline of Handicrafts While India was an exporter of Handicrafts before the … Read more
Role of Commercial Banks
Role of Commercial Banks A Commercial bank is a type of financial institution that provides services such as accepting deposits, making business loans, and offering basic investment products There is acute shortage of capital. People lack initiative and enterprise. Means of transport are undeveloped. Industry is depressed. The commercial banks help in overcoming these obstacles and promoting … Read more
Organizations & Their Survey/Reports
Organizations & Their Survey/Reports 1. World Economic & Social Survey U. N 2. World Investment Report UNCTAD 3. Global Competitiveness Report World Economic Forum 4. World Economic Outlook IMF 5. Business Competitive Index World Economic Forum 6. Green Index World Bank 7. Business Confidence Index NCAER 8. Poverty Ratio Planning Commission 9. Economic Survey Ministry … Read more
Drain Theory
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
INDIAN PUBLIC FINANCE
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
Millenium Development Goals
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
Haryana Food security
Haryana Food security Food security can be described as a phenomenon relating to individuals and can be defined by nutritional status of the individual household member that is the ultimate focus, and the risk of that adequate status not being achieved or becoming undermined. Food Security can defined as Food security exists when all people, … Read more
-SUBSIDIES- CASH RANSFER OF SUBSIDY ISSUE
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