Notes and Study material for Exams
The Fiscal Responsibility and Budget Management Act (FRBM) of India: A Journey Towards Fiscal Prudence The Fiscal Responsibility and Budget Management Act (FRBM) of 2003 was a landmark legislation in India’s fiscal history. It aimed to establish a framework for responsible fiscal management, aiming to reduce the fiscal deficit, stabilize the public debt, and promote … Read more
The expenditure method is a way of measuring GDP that focuses on the spending of money. It is one of the two main methods of measuring GDP, the other being the income method. The expenditure method measures GDP by adding up the following categories of spending: Consumption spending: This is the spending of households on … Read more
The Fiscal System: A Foundation for Economic Stability and Growth The fiscal system, encompassing government revenue collection and expenditure, plays a crucial role in shaping the economic landscape of a nation. It acts as a powerful tool for achieving macroeconomic stability, promoting economic growth, and addressing social inequalities. This article delves into the intricacies of … Read more
Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision,
The Interim Budget: A Bridge to the General Budget The Interim Budget, presented by the Finance Minister in the Indian Parliament, serves as a crucial bridge between the regular annual budget and the upcoming general elections. It is a temporary financial blueprint that outlines the government’s spending plans for the remaining period of the fiscal … Read more
–2/”>a >DOCTYPE html PUBLIC “-//W3C//DTD XHTML 1.0 Transitional//EN” “http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd”> In India, government expenditure – as per the provision in the Constitution – is divided into Revenue Expenditure and Capital Expenditure. However, the adoption of economic planning shifted emphasize on the division of expenditure into Plan and Non-Plan. The share of Non-Plan expenditure has remained close … Read more
The Many Faces of Money: A Journey Through History, Economics, and Society Money, a seemingly simple concept, is a complex and multifaceted phenomenon that has shaped human civilization for millennia. From its humble beginnings as a medium of exchange to its role in global finance, money has evolved alongside human society, reflecting our changing needs, … Read more
Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision,
Articles 168 to 212 in Part VI of the Constitution deal with the organisation, composition, duration, officers, procedures, privileges, powers and so on of the State Legislature.In most of the States, the Legislature consists of the Governor and the Legislative Assembly (Vidhan Sabha). This means that these State have unicameral Legislature. In a Six States( … Read more
The State Finance Commissions are required to recommend financial support from the state and principles for determination of taxes, tolls and fees that could be assigned to or appropriated by the local bodies ARTICLE 243I of the Indian Constitution prescribes that the Governor of a State shall, as soon as may be within one year … Read more