Notes and Study material for Exams
The Complex Landscape of State Taxes: Levied, Collected, and Retained The United States operates under a federal system, where power is shared between the national government and individual states. This division of power extends to the realm of taxation, with both levels of government levying taxes to fund their respective operations. While the federal government … Read more
When a government spends more than it collects in taxes, it borrows from the private sector to finance the budget deficit. The accumulation of past borrowing is the government debt. A tax cut stimulates consumer spending and reduces national saving. The reduction in saving raises the interest rate, which crowds out Investment. As per Solow’s … Read more
The Battleground of Budgets: Money Bills in State Legislatures The process of crafting and approving state budgets is a complex and often contentious affair. At the heart of this process lie “money bills,” legislation that directly impacts the state’s finances. These bills, often the subject of intense debate and political maneuvering, hold the power to … Read more
–2/”>a >DOCTYPE html PUBLIC “-//W3C//DTD XHTML 1.0 Transitional//EN” “http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd”> Panchayat: Financing, Resource mobilization and devolution Sources of Funds The Amendments left important matters such as implementation, service delivery (including local capacity building) and transfer of responsibilities and powers to rural local bodies at the discretion of the state legislatures. Consequently, while expenditure responsibilities of local … Read more
The Public Account of India: A Deep Dive into the Nation’s Financial Health The Public Account of India, often referred to as the “Public Account”, is a crucial component of the Indian financial system. It acts as a repository for public funds that are not directly related to the government’s revenue and expenditure. Understanding the … Read more
The N.K. Singh Committee: Reframing India’s Fiscal Rules The Fiscal Responsibility and Budget Management (FRBM) Act, 2003, was a landmark legislation aimed at ensuring fiscal prudence and sustainability in India. However, over time, the Act’s effectiveness faced scrutiny, leading to the formation of the N.K. Singh Committee in 2016. This committee, tasked with reviewing the … Read more
Rajasthan Mineral Policy 2015 Rajasthan may put about 400 small size mining leases of Minerals like granite,marble and quartz under the hammer in 2015 as it looks to expand its area under mining as well as increase revenue. 9% of total mineral production in the country, is also exploring joint ventures (JV) with multi national companies (MNCs) to … Read more
Start-Up India Scheme: Igniting India’s Entrepreneurial Spirit Introduction India, with its burgeoning population and a rapidly growing economy, is witnessing a surge in entrepreneurial activity. The government, recognizing the potential of startups to drive economic growth and create jobs, launched the Start-Up India Scheme in 2016. This comprehensive initiative aims to foster a vibrant startup … Read more
Infrastructure Debt Funds: A Catalyst for Sustainable Development Infrastructure is the backbone of any economy, facilitating trade, transportation, communication, and access to essential services. However, the development of robust infrastructure requires significant capital investment, often exceeding the capacity of traditional financing sources. This is where Infrastructure Debt Funds (IDFs) come into play, offering a unique … Read more
A Journey Through Time: Exploring the World of Ancient Coins Ancient coins, small pieces of metal bearing the marks of history, offer a unique window into the past. They are not just relics of bygone eras; they are tangible artifacts that speak volumes about the cultures, economies, and beliefs of ancient civilizations. From the earliest … Read more