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Explain the sources of central govt. revenue.
Introduction: The income of the government through all it sources is called public income or public revenue .The need for rising revenue arises from the necessity of increasing public expenditure the following are the various sources of public revenue. The sources of central govt. revenue are Sources of Revenue: Direct tax:- Taxes levied on the…
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What is balance of payment? explain the causes and measures to correct adverse balance of payments.
Introduction: The government prepares a balance sheet of foreign payments called balance of payment consisting of credit and debit terms for every year. The balance of payment statement is essentially a double entry system of record of all economic transaction between the residence of a country and the rest of the world carried out in…
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Explain the exceptions of law of demand.
Introduction: The term demand is different from desire, want; wish etc. in the language of economics the term demand has different meaning. Any want or desire will not constitute demand. Demand refers to the total or a given quantity of a commodity that are purchased by a consumer in the market at a particular price…
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Explain the composition and directions of India’s exports.
Introduction: While imports are increasing export to other countries should also increase as the exports are the payment to import. If this does not happen there would be a problem of making payment for import. If exports are not increase corresponding to increase the import, or if a country does not find out the method…
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Explain volume, composition and directions of India’s import trade.
Introduction: India is one of the world’s largest and fastest-growing economies, heavily engaged in global trade. The country imports a wide variety of goods, ranging from raw materials and machinery to consumer products and technology. In present days foreign trade is more important than the internal trade the trade international trade of a country consist…
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Write a note on EXIM Policy.
Introduction: Export import policy are better known as EXIM policy is a set of guidelines and instructions related to the import and export of goods. The Government of Indian notifies the EXIM policy for a period of 5 years 1997 to 2002 under section 5 of the foreign trade development and regulations act 1992. The…
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Explain the Monetary policy of R.B.I (A Review)
Introduction: Monitory policy of R.B.I refers to the policy of the central bank with regards to the use of monetary instruments. Under its control to achieve the goals which is specified. This policy formulated by the central bank RBI and relates to the monetary matters of the country. The monitory policy committee met on Feb…
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Explain the classification of industries.
Introduction: Industrialization is a process of manufacturing consumer goods and capital goods and of building infrastructure in order to provide goods and services to both individuals and business. . It helps to increase the share of industrial sector in the national product and labor force in the economy. It transforms the entire economic structure of…
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Explain the Critical minimum efforts thesis.
Introduction: The Critical Minimum Effort Thesis, proposed by economist Harvey Leibenstein in the 1950s, it is a development theory similar to the Big Push Theory. It suggests that developing economies require a minimum level of investment and effort to escape the cycle of poverty and stagnation. This theory is known as the “critical minimum effort,”…
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Explain the Big Push theory of Development.
Introduction: Big push theory highlights the need for tremendous efforts for taking the underdeveloped economics out of stagnation and breaking the vicious circle of poverty. The big push theory was propounded by Professor Paul N Rosenstein Rodent for solving the development problems of underdeveloped countries. The main idea is that isolated, small-scale investments are insufficient…