Economy

The Act is expected to re-establish the rule of law with respect to the fugitive economic offenders as they would be forced to return to India to face trial for scheduled offences. This would also help the banks and other financial institutions to achieve higher recovery from financial defaults committed by such fugitive economic offenders, … Read more

Big data is the huge amount of data which is present in an unprocessed way. It is a complex data. Big data is characterised by 3 Vs ie. Volume of data, velocity of data i.e. processed and complex variety of data. Big data has various useful application. The application of Big data can be seen … Read more

An external commercial borrowing (ECB) is an instrument used in India to facilitate Indian companies to raise money outside the country in foreign currency. The government of India permits Indian corporates to raise money via ECB for expansion of existing capacity as well as for fresh investments. Other such external sources of finance/capital include FCCBs … Read more

Establishment of Some More Agencies Apart from Food Corporation of India, some more agencies should be set up for ensuring rational prices of other agricultural products and also for procuring other agricultural products. In the meantime the government has already set up Cotton Corporation and Jute Corporation, which needs to be further strengthened. Extension of … Read more

Small and Medium-sized enterprises (SMEs) are labour intensive, have the advantage of low cost of production and can make good use of locally available resources pushing demand and growth. The sector offers a wide range of employment opportunities and absorbs most of the working age population. Majorly consists of handlooms, handicrafts, coir, sericulture, khadi and … Read more

Budget is the annual financial statement of income and expenditure of government. The Constitution of India has a provision (Art. 112) for such a document called Annual Financial Statement to be presented in the Parliament before the commencement of every new fiscal year—popular as the Union Budget. The budget is prepared by the Budget Division … Read more

Government has taken various measures to boost the incomes especially rural incomes to usher spending and consumption levels in the economy. Increase in the Minimum Support Prices (MSPs) for all mandated Rabi crops and Kharif crops for 2019-20 season. To provide an assured income support to the small and marginal farmers, the cash transfer scheme … Read more

Aviation sector is one of the promising sector in India. This sector faced a growth rate of 20%  per annum in passenger traffic. As per IATA, India will become the 3rd largest aviation market in the world interms of passenger by 2026. Above data clearly states that aviation sector is not under stressed. The opportunities … Read more

The following points highlight the two main sources of government revenue in India. Tax Revenue: Union Excise Duties: They are, presently, by far the leading source of revenue for the Central Government and are levied on commo­dities produced within the country, but exclu­ding those commodities on which State excise is levied (viz., liquors and narcotic … Read more