Notes and Study material for Exams
Lengthiest Written Constitution: Originally our constitution contained 395 articles divided in 22 parts and 8 schedules. Constitution has been amended 98 times. Currently there are 25 Parts, 12 Schedules, and 448 Articles. These figures show our constitution as the most comprehensive constitution in the world. (British have no written constitution and Constitution of USA had … Read more
Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision,
The Constitution of India is the supreme law of India. It is a living document, an instrument which makes the government system work. It lays down the framework defining fundamental political principles, establishes the structure, procedures, powers and duties of government institutions and sets out Fundamental Rights, directive principles and the duties of citizens. It is … Read more
Lengthiest Written Constitution: Originally our constitution contained 395 articles divided in 22 parts and 8 schedules. Constitution has been amended 98 times. Currently there are 25 Parts, 12 Schedules, and 448 Articles. These figures show our constitution as the most comprehensive constitution in the world. (British have no written constitution and Constitution of USA had … 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
Liability based on fault Fault liability requires some basis to determine whether someone was negligent, i.e. at fault for the harm he caused. Briefly, that would require: Duty Breach of that duty Proximate cause Actual cause Damages For example, if you were in a car accident, the fact that you were speeding … Read more
International Credit Ratings A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting. The credit rating represents an evaluation of a credit … Read more
Debt and Investment in India: Current Status Debt status Government liabilities have been broadly classified as debt contracted against the Consolidated Fund of India (defined as Public Debt) and liabilities in the Public Account, called Other Liabilities. Public debt is further classified into internal and External Debt. Internal debt consists of marketable debt … Read more
Institutions of developmental finance A Development Financial institution (DFI) is defined as “an institution endorsed or supported by Government of india primarily to provide development/Project finance to one or more sectors or sub-sectors of the economy. the institution differentiates itself by a thoughtful balance between commercial norms of operation, as adopted by any financial institution … Read more
Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision,