The Finance Minister Nirmala Sitharaman will present the Union Budget for the year 2022-23 on 1st February 2022. This post explains the union budget of India and how it is prepared. What is Union Budget of India? The Union Budget of India is referred to as the Annual financial statement in the constitution. According to …
What is the Union Budget of India? How is it prepared? Read More »
The biggest challenge facing Indian economy is to provide employment to the youth. And the rigid labour regulations in India act as a deterrent to employment generation. As per the World Bank, India’s labour laws are among the most restrictive in the world. (1) India has to urgently reform its British colonial-era labour laws to …
Before we usher in the new year, let’s take a look back at the important events that shaped the Indian economy in 2017. 1. The Goods and Services Tax (GST) was finally implemented on 1st July 2017. GST is the biggest tax reform in India since independence and has united the entire country into a single …
Year in review: 9 major events that shaped Indian Economy in 2017 Read More »
The international monetary system refers to the system and rules that govern the use and exchange of money around the world and between countries. History of the International Monetary System There have been four phases/ stages in the evolution of the international monetary system: Gold Standard (1875-1914) Inter-war period (1915-1944) Bretton Woods system (1945-1972) Present International …
Stages of Evolution of International Monetary System since Gold Standard Read More »
India’s manufacturing PMI stood at a mere 27.4 in April 2020. It was 51.8 in April. The outbreak of the coronavirus pandemic and the subsequent lockdown pushed India’s manufacturing PMI to contract for the first time in 33 months. After making it through March relatively unscathed, the Indian manufacturing sector felt the full force of …
Purchasing Managers’ Index India survey- Explained Read More »
In its fifth Bi-monthly Monetary Policy Statement on 5th December, the RBI decided to rationalise the Merchant discount rate structure. It will be in effect from 1st January 2018. (Read: RBI’s Monetary Policy-Raises inflation forecast; keeps rates unchanged) What is merchant discount rate (MDR)? Merchant discount rate is a fee that a merchant has to pay to the …
Asian Development bank defines Microfinance as the provision of a broad range of financial services such as deposits, loans, payment services, money transfers, and insurance to poor and low-income households. In short, Microfinance is providing basic financial services such as loan, insurance etc. to poor at low costs. It helps in financial inclusion. (Read: Financial Inclusion and …
What do you mean by Microfinance and Microcredit? Read More »