Notes and Study material for Exams
The constitution (73rd and 74th) Amendment Acts, 1992 and ARTICLE 280 (3) (c) have altered the erstwhile fiscal devolution system and framework between the states and local governments. Under the new fiscal devolution system every State Government is required to constitute, once in five years, a Finance Commission under articles 243 (I) and entrust it … Read more
–2/”>a >DOCTYPE html PUBLIC “-//W3C//DTD XHTML 1.0 Transitional//EN” “http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd”> In India, government expenditure – as per the provision in the Constitution – is divided into Revenue Expenditure and Capital Expenditure. However, the adoption of economic planning shifted emphasize on the division of expenditure into Plan and Non-Plan. The share of Non-Plan expenditure has remained close … Read more
Budgeting Budgeting is the process of estimating the availability of Resources and then allocating them to various activities of an organization according to a pre-determined priority. In most cases, approval of a budget also means the approval to various spending units to utilize the allocated resources. Budgeting plays a criucial role in the socio-Economic Development … Read more
The Election of a President: A Complex and Multifaceted Process The election of a President in the United States is a complex and multifaceted process that involves a series of intricate steps, from the initial nomination of candidates to the final certification of the winner. This process, enshrined in the Constitution and shaped by centuries … Read more
Sources of Income of Central Government As we all know that India is a democratic country and the main aim of the government here is to increase the welfare of the people not the profit of the government. To increase the welfare of the people the Government of India has to start welfare oriented schemes. … Read more
The Shifting Sands of Tax Revenue: A Global Perspective on Distribution and Trends The collection and distribution of tax revenue is a fundamental pillar of any modern economy. It fuels public services, infrastructure development, and social welfare programs, ultimately shaping the lives of citizens. Understanding the distribution of tax revenues across different sectors and regions … Read more
Issues of finance, ownership, operation and maintenance of all kinds of Foreign Direct Investment under automatic route in the construction development sector. High capital intensity, low operating cost, higher gestation period, near absent risk mitigation measures, difficulties in getting Environment clearance, inability to generate direct adequate income streams to selffinance are some of … Read more
The Tobin Tax: A Controversial Solution to Global Financial Instability? The global financial system, despite its complexity and interconnectedness, is often characterized by volatility and instability. This inherent fragility has been exposed repeatedly, leading to devastating consequences for individuals, businesses, and economies worldwide. In the wake of the 2008 financial crisis, the search for solutions … Read more
The Money Bill: A Powerful Tool in India’s Parliamentary System The term “Money Bill” might sound mundane, but it represents a crucial aspect of India’s parliamentary democracy. This seemingly simple concept holds significant power, influencing the financial landscape of the nation and shaping the relationship between the executive and legislative branches. This article delves into … Read more
The Carbon Tax: A Price on Pollution for a Cleaner Future? The world is grappling with the urgent need to address climate change, and a growing number of countries are turning to carbon pricing mechanisms as a key tool in their arsenal. Among these, the carbon tax stands out as a direct and transparent approach … Read more