The Indian Government has discontinued the use of old Rs 500 and Rs. 1000 notes. In other words, the legal tender character of the notes in these denominations stands withdrawn. This decision became effective from the midnight of 8th November 2016. Furthermore, the Government will introduce new notes in Rs 500, Rs. 1000 and Rs. 2000 denominations.
In 2016, the Cabinet advanced the date of presentation of the Union budget by a month. This article details the pros and cons of Advancing Budget Date [You may also read: What is Union Budget of India? How is it prepared?] Till 2016-17, the budget was unveiled on the last day of February. But, in 2017-18, the …
The Board of Tata Sons (the holding company of Tata group) sacked Cyrus Mistry as its chairman less than 4 years after he took charge of the top job in the year 2012. His predecessor, Ratan Tata, would step in as interim chairman . In the meanwhile, the group has constituted a selection committee to …
Oliver Hart and Bengt Holmstrom won the Nobel prize in Economics ( also known as Central Bank of Sweden Nobel Memorial Prize in Economic Sciences) in 2016 for their contributions to the ‘contract theory.’ Their work in contract theory helps us to: Understand real-life contracts. Understand potential pitfalls (difficulties) in designing the contracts. Design better contracts. NOBEL …
Why Oliver Hart & Bengt Holmstrom won the Nobel Prize in Economics? Read More »
The Financial crisis 2008 or the Great Recession is the biggest economic event in the world after the Great Depression of the 1930s. This article explains the causes and consequences of the financial crisis in a very simplified way. [You may also read- The Great Depression of the 1930s explained] What is a financial crisis? …
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The Rajya Sabha has finally passed the constitutional amendment Bill enabling the roll-out of the Goods and Services Tax. The Goods and Services Tax (GST) has been touted as the biggest tax reform in India since its independence. The Government has set 1 April 2017 as the deadline for its implementation. This article explains GST …
On 23rd June 2016, the United Kingdom held a referendum/ vote to decide whether or not to leave the European Union. 52 % of the voters opted to exit from the Union (also known as Brexit). This post explains Brexit in a series of Q&As. What is the European Union (EU)? The European Union is a …
The UK’s ‘Referendum’ and the ‘Brexit’ Explained Read More »