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

The Laffer Curve: A Controversial Tool for Tax Policy The Laffer Curve, a simple yet powerful economic concept, has sparked heated debates and influenced tax policies worldwide. It posits a relationship between tax rates and government revenue, suggesting that increasing tax rates beyond a certain point can actually lead to a decrease in revenue. This … Read more

Tax Expenditure

Tax Expenditures: Hidden Subsidies in Plain Sight Tax expenditures, often referred to as “tax breaks” or “tax loopholes,” are provisions in the tax code that reduce tax liability for specific individuals, businesses, or industries. They deviate from the standard tax system by offering preferential treatment, effectively providing a subsidy through the tax system. While seemingly … 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 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

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

Navigating the Labyrinth: A Comprehensive Guide to Financial Bills Financial bills are the lifeblood of any economy, shaping the landscape of investment, spending, and economic growth. From regulating financial institutions to managing public debt, these bills play a crucial role in shaping the financial well-being of individuals, businesses, and nations. This comprehensive guide delves into … 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

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