Economy

Since the beginnings of the last decade as a part of the economic reforms programme, the taxation system in the country has been subjected to consistent and comprehensive programme.  Indian government over the years have introduced tax reforms from time to time.     Direct tax reforms: Reduction and rationalisation of rates- there are only … Read more

Social Equity Another principle on which labour legislation is based on social equity. Legislation based on social justice fixes a definite standard for adoption for the future, taking into consideration the events and circumstances of the past and the present. Social Justice In an industrial set up, social justice means an equitable distribution of profits … Read more

The Gold Monetization Scheme is a welcome step initiated by the Government of India to  unlock the unused and idle gold lying in households and institutions and bring them into  mainstream and release the capital locked in for use in the economy for its development.  The key objectives of this scheme are stated as under: … Read more

    Positives These sector are labour intensive and generate more labour per unit of capital infused. These sector have the potential for broader social transformation. These sector can also play crucial role in export and hence the overall growth. The creation of employment opportunities in these sector is far more inclusive and it address … Read more

The Fund was established with a corpus of 500 crore which aims to establish price stability through Promotion of direct purchase from farmers /farmers’ associations at farm gate/Mandi. Maintaining a strategic buffer stock that would discourage hoarding and unscrupulousspeculation. Protecting consumers by supplying such commodities at reasonable prices throughcalibrated release of stock. It is a … Read more

The Monetary Policy Committee of India is a committee of the Reserve Bank of India that is responsible for fixing the benchmark interest rate in India. The meetings of theMonetary Policy Committee are held at least 4 times a year and it publishes its decisionsafter each such meeting. The committee comprises six members – three … Read more

The Scheme of Mega Food Park aims at providing a mechanism to link agricultural production to the market by bringing together farmers, processors and retailers so as to ensure maximizing value addition, minimizing wastage, increasing farmers income and creating employment opportunities particularly in rural sector. The Mega Food Park Scheme is based on “Cluster” approach … Read more

According to the scheme, The States and Union Territories are required to complete the works of household electrification by the 31st of December 2018. The beneficiaries for free electricity connections would be identified using Socio Economic and Caste Census (SECC) 2011 data. However, un-electrified households not covered under the SECC data would also be provided electricity connections … Read more

Pros Economic planning is assumed to modify the restraining influence of limited resources by recogniz­ing the existence of particular constraints and by choosing and coordinating investment projects so as to channel these scarce factors into their most productive outlets. Planning is necessary to take care of the poor and the downtrodden who have little asset … Read more

Demand-Pull Effect The demand-pull effect states that as wages increase within an economic system (often the case in a growing economy with low unemployment), people will have more money to spend on consumer goods. This increase in liquidity and demand for consumer goods results in an increase in demand for products. As a result of … Read more