National Income and its concepts and components

NATIONAL INCOME The study of National Income is important because of the following reasons: To see the Economic Development of the country. To assess the developmental objectives. To know the contribution of the various sectors to National Income. Internationally some countries are wealthy, some countries are not wealthy and some countries are in-between. Under such … Read more

Effects of liberalization and globalization on the economy

IMPACT OF NEW ECONOMIC POLICY India’s post-independence development strategy showed all the signs of stagnation, but the economy started showing the sign of recovery in the early nineties when the government adopted the new economic model known as INFRASTRUCTURE, into a modern developed economy. New Economic Policy 1991 India opened up the economy in the … Read more

PROFIT & LOSS

Profit and loss   IMPORTANT FACTS Cost Price: The price, at which an ARTICLE is purchased, is called its cost price, abbreviated as C.P.   Selling Price: The price, at which an article is sold, is called its selling prices, abbreviated as S.P.   Profit or Gain: If S.P. is greater than C.P., the seller is said to have … Read more

Wealth tax

The Wealth Tax: A Controversial Tool for Equality and Growth The concept of a wealth tax, a levy on an individual’s net worth, has re-emerged as a prominent policy debate in recent years. Proponents argue that it is a necessary tool to address growing inequality, fund public services, and promote economic stability. Opponents, however, contend … Read more

Components of Current Account

Understanding the Components of a Current Account: A Comprehensive Guide The current account, a key component of a country’s balance of payments, provides a comprehensive picture of its economic interactions with the rest of the world. It tracks the flow of goods, services, income, and transfers between a nation and its trading partners. Understanding the … Read more

Budgetry Reforms

 BUDGETARY REFORMS     Government bodies raise Money by imposing taxes on citizens and then use those funds to pursue various programs such as Education, defence,

Negative Income Tax

The Negative Income Tax: A Potential Solution to Poverty and Inequality The concept of a negative income tax (NIT) has been debated for decades as a potential solution to poverty and inequality. It proposes a system where individuals below a certain income threshold receive government payments instead of paying taxes. This article will delve into … Read more

Poverty and Unemployment

Assessment of the Growth experience: POVERTY and Unemployment Poverty and unemployment are closely related High poverty has a multiplier effect on Quality Of Life, deprivation, Malnutrition, illiteracy and low Human resource development. Read morePoverty and Unemployment

Gender Development Index (GDI) and Gender Empowerment Measure (GEM)

The GDI measures gender gaps in Human Development achievements by accounting for disparities between Women and men in three basic dimensions of human development—Health, knowledge and living standards using the same component indicators as in the HDI. The GDI is the ratio of the HDIs calculated separately for females and males using the same methodology … 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