GST: Features, benefits, and challengesIntroduction to GSTGoods and Services Tax (GST) is a comprehensive indirect tax implemented in India from July 1, 2017.It replaced multiple indirect taxes like VAT, Service Tax, Excise Duty, and…
Types of taxes: Direct and indirectIntroduction to TaxationTaxation is a primary source of revenue for the government, used to fund public services and development projects.In India, taxes are categorized into direct and indirect…
FRBM Act: Objectives and challengesIntroductionThe FRBM Act was enacted in 2003 to ensure fiscal discipline and long-term financial stability in India.It aims to reduce the fiscal deficit, control public debt, and promote transparency…
Types of deficits: Fiscal, revenue, primaryIntroductionA deficit occurs when a government's expenditure exceeds its revenue.There are three key types of deficits in public finance: Fiscal Deficit, Revenue Deficit, and Primary Deficit.Deficits…
Structure: Revenue and capital budgetsIntroductionThe Government Budget is a statement of estimated receipts and expenditures of the government over a financial year.It is divided into two main components: the Revenue Budget and the…
Inflation targeting and price stabilityIntroductionMonetary Policy is the process by which a central bank, such as the Reserve Bank of India (RBI), controls the supply of money and credit in the economy.The main objectives of monetary…
Objectives and tools: CRR, SLR, Repo Rate, Reverse Repo RateIntroductionMonetary Policy is the process by which a central bank, such as the Reserve Bank of India (RBI), controls the supply of money and credit in the economy.The main objectives of monetary…
Microfinance and SHGsIntroductionMicrofinance refers to providing financial services such as credit, savings, and insurance to low-income individuals or groups who lack access to traditional banking systems.Self-Help…
Digital payment systems (UPI, BHIM)Introduction to Digital Payment SystemsDigital payment systems are methods of transferring money electronically without physical exchange of cash or cheques.They are critical to achieving financial…
Jan Dhan YojanaIntroduction to Jan Dhan YojanaThe Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on August 28, 2014, by the Government of India.It aims to provide universal access to banking facilities and…