PUBLIC FINANCE

Public Finance Public finance is the study of the role of the government in the economy. It is the branch of economics which assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. It includes the study of … Read more

FRBM Act

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

Rao Manmohan Model

The Rao Manmohan Model is an economic model that was developed by Indian economist Manmohan Singh. The model is based on the idea of LiberalizationLiberalization, PrivatizationPrivatization, and GlobalizationGlobalization-2GlobalizationGlobalization. It was implemented in India in the early 1990s, and it has been credited with helping to improve the country’s economy. The Rao Manmohan Model has three … Read more

Trends in Centre-State Relations

Navigating the Shifting Sands: Trends in Centre-State Relations in India India’s federal structure, enshrined in its Constitution, is a complex and dynamic system that has evolved significantly over the years. The relationship between the central government and the states, often referred to as Centre-State relations, is a crucial aspect of this federalism. This article delves … Read more

Recent Fiscal Policy of India

Fiscal Policy is that part of Government policy which is concerned with raising revenues through Taxation and other means along with deciding on the level and pattern of expenditure it operates through budget. However, generally the expenditure exceeds the revenue income of the Government. In order to meet this situation, the Government imposes new taxes … Read more

Inflation & Control Mechanism

Inflation is a sustained increase in the general price level of goods and Services in an economy over a period of time. When the price level rises, each unit of currency buys fewer goods and services.It is the Percentage change in the value of the Wholesale Price Index (WPI) on a year-on year basis. It effectively … Read more

Devolution of Power and Finances up to local levels and Challenges therein.

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 bodies are extensively enhanced, there is no law to ensure a corresponding assignment of funds … Read more

Exit mobile version