Economy

The Ease of Doing Business Rank (EODB) is a measure of an economy’s position to the best regulatory practices. Though World Bank used to publish the ‘Doing Business’ reports from 2003, the ranking of economies started only from 2006. The EODB study tries to capture the experience of small and mid-sized companies in a country with their … Read more

Financial inclusion involves the availability of sustainable, useful financial products and services for all business and individuals, regardless of company size or individual net worth. It makes financial services such as banking, insurance, equity, etc. available equally to all, without discrimination. Universal access to banking facilities for all households across the country through a bank … Read more

. As of now Japan-India trade is a mere 5% of Japan-China trade. Today, India-Japan trade languishes at around $15 billion, a quarter of trade with China while Japan-China trade is around $300 billion. India is the largest recipient of Japanese foreign aid. Japanese have also made record investment in private equity and venture capital … Read more

Minimum support price is the government scheme to safeguard the interest of the farmers. GOI declares the MSP of various agricultural produce and assures the farmers that their agriculture produce will be purchased at the MSP. The Food Corporation of India acts as the Nodal agency of the GoI. MSP scheme is implemented through state … Read more

. At independence, the leadership recognized that some regions were more backward than others. Only a few enclaves or areas around Calcutta, Bombay and Madras had undergone modern industrial development. From the beginning, the national government felt a responsibility to counter this imbalance in regional development. Thus, for example, the 1956 Industrial Policy Resolution of … Read more

Higher Education Financing Agency (HEFA) is a joint venture of MHRD Government of India and Canara Bank for financing creation of capital assets in premier educational institutions in India as part of rising 2022 HEFA’s scope is greatly expanded to cover school education, educational institutes under Ministry of health etc.HEFA is registered under Section 8 … Read more

  Tax avoidance Tax evasion Legal way of saving taxes. Illegal in a financial system Recording of income Not recording of income. Help in saving, at the same time money can be channelized for economic growth Help in saving, but since money is not accounted. Money cannot be channelized for economic growth.   Positive extrenalities … Read more

Unified payment interface project is to move the country towards a more cashless model. The objective is to achieve financial inclusion. New features in UPI 2.0 Linking of overdraft account – Apart from the savings and current accounts, the UPI users can now link their overdraft account to it and all the facilities and benefits … Read more

:  Government budget is the annual financial statement presented by the finance minister which contains the following figure: Actual estimate for FY 2017-18 Budget estimate for FY 2018-19 and Revised estimate for FY 2018-19 Budget estimate for FY 2019-2020   The budget is divide into two parts:   Revenue budget Capital budget  

Mahalanobis model of Economic Growth Prof. P.C Mahalanobis prepared a growth model in which he showed that to achieve a self-sustained growth quickly in the country, it would be essential to devote a major part of the development outlay to building basic heavy industry, e.g. steel and the engineering industry for making different types of … Read more