fiscal

JPSC Prelims Notes for Economic Concepts and Indian Economy

Basic Features of Indian economy [su_posts template=”templates/list-loop.php” posts_per_page=”100″ tax_term=”1322″ tax_operator=”0″ order=”desc”] (I) NATIONAL INCOME ; Elementary concepts of national Income and methods of its calculation e-g,GDP, GNP, NDP, NNP, CSDP. NSDP, DDP at constant and current prices, at Factor Cost etc; (II) Inflation : Concept control of inflation : monetary, fiscal and direct measures. (III)Demographic … Read more

Laffer Curve

Laffer Curve The Laffer curve is a hypothetical graph showing the relationship between tax rates and government revenue. The curve is named after Arthur Laffer, an economist who argued that at some point, increasing tax rates would actually decrease government revenue. The Laffer curve is often used to argue for tax cuts. Proponents of tax … Read more

Tax Expenditure

The following are subtopics of tax expenditure: Exclusions Deductions Credits Deferrals Special rates Other tax expenditures Exclusions are amounts that are not included in gross income. For example, the exclusion of interest on state and local BondsBonds is a tax expenditure. Deductions are amounts that are subtracted from gross income to arrive at taxable income. … 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

FRBM Act

The following are the subtopics of the FRBM Act: Introduction Objectives Scope Definitions Fiscal Responsibility Debt Management Transparency and Accountability Reporting and Monitoring Enforcement Transitional Provisions Repeal and SavingsSavings Amendments Schedules Act The Fiscal Responsibility and Budget Management Act, 2003 (FRBM Act) is an Act of the Parliament of India that was enacted to establish … Read more

GDP Deflator

The following are subtopics of GDP deflator: Definition Formula Calculation Uses Limitations Examples Related topics The GDP deflator is a measure of the level of prices of all final goods and services produced in an economy in a given year compared to a base year. It is calculated by dividing the nominal GDP by the … Read more

Financial Bills

Financial Bills A financial bill is a bill that proposes to raise or spend money. It is a type of legislative bill that is introduced in the legislature to authorize the government to spend money or to raise taxes. Financial bills are usually introduced by the government, but they can also be introduced by private … Read more

Trends in Centre-State Relations

Trends in Centre-State Relations The relationship between the central government and the state governments in India has been a complex and evolving one. In the early years of independence, the central government was dominant, but over time, the states have gained more power and autonomy. This has led to a number of trends in centre-state … Read more