Economy

The Bibek Debroy Committee is a high level committee for “Mobilization of Resources for Major Railway Projects and Restructuring of Railway Ministry and railway board. It gave various suggestions to address the concerns. Some of them are as follows: Transition to commercial accounting as it is next to impossible to find out the profit with the … Read more

The 1991 is a hallmark year as it launched Indian into a new era of economic freedom. It majorly changed our economy from controlled to a free economy. One of the ingredient was tax reforms. The major changes one can observed in the tax system are as follows: Widening of tax bases both by addition … Read more

Integrated Rural Development Programme (IRDP) The Integrated Rural Development Programme (IRDP) was started in 20 selected districts in the country in 1976-77. Later on in 1980, the programme was extended to all the districts of the country. The scheme was funded by centre. The funds for the scheme are shared by centre and State Govt. … Read more

Government liabilities are classified as debt contracted against the Consolidated Fund of India (defined as Public Debt) and liabilities in the Public Account, called Other Liabilities. Public debt is further classified into internal and external debt. Internal debt consists of marketable debt and non-marketable debt. Government dated securities and treasury bills, issued through auctions, together … Read more

P2P lending is the popular type of crowd funding, whereby an internet platform collects small amounts of funds from individuals in a crowd to finance collectively a larger loan to individuals or businesses. Websites that facilitate peer-to-peer lending have greatly increased its adoption as an alternative method of financing.P2P lending is also known as social … Read more

Bank rate:  Bank rate is the rate at which RBI lends long term to commercial banks. Bank rate is a tool which RBI uses for managing money supply.   Merchant discount rate: It is a charge to a merchant by a bank for accepting payment from their customers in credit and debit cards every time … Read more

  Changes in the Income tax act: one of the condition for resident of India was leading to creation of shell companies i.e. during a financial year, a company shall have management of its affairs wholly in India. This provision was leading to creation of shell companies.   Ministry of Corporate Affairs (MCA) and Central … Read more

Ans: Angel tax is a term used to refer to the income tax payable on capital raised by unlisted companies via issue of shares where the share price is seen in excess of the fair market value of the shares sold. The excess realisation is treated as income and taxed accordingly. The tax was introduced … Read more

There are no magic bullets to revive the economy as this time situation is quite different. The  macro indicators are fine but overall economy is not doing good. Last quarter growth was pegged at 4.5%, IIP was in negative territory, Exports are not growing, Private investment is low, Twin balance sheet problem, IL&F crisis etc. … Read more

Financial inclusion is the pursuit of making financial services accessible at affordable costs to all individuals and businesses, regardless of net worth and size, respectively. Financial inclusion strives to address and proffer solutions to the constraints that exclude people from participating in the financial sector. It is also called inclusive financing. Government has launched various … Read more