The Government scrapped the planning commission on 1st January 2015 and replaced it with NITI Aayog. The Planning commission was formed in the year 1950. NDA Government shut it down in the year 2015 and replaced it with NITI Aayog. The major arguments against the planning commission were:
Goods and Services Tax (GST) has been touted as the biggest tax reform in India since independence. The Government has set 1 April 2015 as the deadline for the roll-out of the tax. This article explains GST and its impact in a simplified manner.
Simply put, financial inclusion is providing basic financial services like credit, deposits, insurance, payments, remittances, etc. to all people without any discrimination. [You may also read: What do you mean by Microfinance and Microcredit?] The basic prerequisite to access these financial services is to have a bank account.
We have been reading in the newspapers about the Minimum Alternate Tax (MAT) controversy in India. Through this article, I have tried to explain the controversy in a simple and precise manner.
Gross Domestic Product is widely accepted as a measure of the economic development of a country. GDP measures both nation’s total output and income. There is a strong correlation between a country’s GDP and its standard of living. Countries that have high GDP like the US, UK, France, Germany, Japan, Singapore, etc have a higher …
GDP and the various ways to calculate it- Explained Read More »
Reserve Bank of India (RBI) is scheduled to do its next bi-monthly monetary policy review on 29th of September 2015. The Governor of RBI, Raghuram Rajan, is under pressure from both Government and the industry, to loosen monetary policy. Monetary policy is the action taken by the central bank/ RBI to control the amount of money supply. …
Gross Domestic Product/ GDP is the final value of all goods and services produced in the economy in a given year. Before reading this article, I suggest you read this article: Gross Domestic Product (GDP) Demystified.