Indian Economy -Civil Service Gurukul

23 Nov 2017 10:23

The expenditure falling in the second category are presented in the form of Demands for Grants to the
Lok Sabha and are voted by this House. The Lok Sabha has the right to assent or to refuse any such demand or
reduce the demand specified therein. No such demand shall be made except on the recommendation of the
President.

Indian Economy -Civil Service Gurukul

23 Nov 2017 10:14

Annual Financial Statement (AFS)
o provided under Article 112
o shows estimated receipts and expenditure of the Government of India for the following year,
estimates as well as revised estimates for the current year as also expenditure for the previous year
o The receipts and disbursements are shown under the three parts, in which
Government Accounts are kept viz. (i) Consolidated Fund (ii) Contingency Fund and
(iii) Public Account.
o Under the Constitution, Annual Financial Statement distinguishes expenditure on revenue account
from other expenditure. Government Budget, therefore, comprises Revenue Budget and Capital
Budget. The estimates of receipts and expenditure included in the Annual Financial Statement are
for the expenditure net of refunds and recoveries, as will be reflected in the accounts.

Indian Economy -Civil Service Gurukul

23 Nov 2017 10:12

It is in this context that the Budget of the Government of India is presented before both the Houses of
Parliament every year.
•

Indian Economy -Civil Service Gurukul

23 Nov 2017 10:06

The Union of India’s Budget
The annual statement of the outlays and tax revenues of the government of India together with the laws and
regulations that approve and support those outlays and tax revenues make up the union budget. The union
budget has two purposes:
1. To finance the activities of the union government
2. To achieve macroeconomic objectives.

Indian Economy -Civil Service Gurukul

23 Nov 2017 10:00

Zero-based Budgeting

Indian Economy -Civil Service Gurukul

23 Nov 2017 09:58

Performance Budgeting

Indian Economy -Civil Service Gurukul

23 Nov 2017 09:57

The line item budget approach is easy to understand and implement. It also facilitates centralized
control and fixing of authority and responsibility of the spending units. Its major disadvantage is that it
does not provide enough information to the top levels about the activities and achievements of
individual units.

Indian Economy -Civil Service Gurukul

23 Nov 2017 09:52

Budgeting is the process of estimating the availability of resources and then allocating them to various
activities of an organization according to a pre-determined priority.

Indian Economy -Civil Service Gurukul

23 Nov 2017 09:50

is Government Budgeting

Indian Economy -Civil Service Gurukul

23 Nov 2017 08:45

COMMERCE GURUKUL

Fifteenth Finance Commission set up

The Cabinet has set the ball rolling for the constitution of the Fifteenth Finance Commission, which will decide the devolution formula for revenue-sharing between the Centre and States from the year 2020 till 2025 Cabinet has given an in-principle nod to constitute the Commission and finalize its terms of reference

Change in revenue sharing by 14th FC

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The Fourteenth Finance Commission, whose recommendations were accepted by the government and are effective till March 31, 2020, had mooted a ten percentage points jump in States’ share of the central pool of taxes from 32% earlier to 42%

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Work of 15th FC

The Fifteenth Finance Commission’s recommendations have to be in place before April 1, 2020

Both the Centre and States’ expenditure patterns need to be retained and the impact of the new distribution of taxes system on States and the Centre has to be considered by the CommissionThe Commission will have to grapple with the significant changes in the taxation framework, such as the Goods and Services Tax, which has replaced the earlier indirect taxation system

Indian Economy -Civil Service Gurukul

23 Nov 2017 03:49

Commece Gurukul

About New Development Bank :

It is a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa). It is seen as an alternative to the existing US-dominated World Bank and International Monetary Fund.

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The New Development Bank was agreed to by BRICS leaders at the 5th BRICS summit held in Durban, South Africa in 2013.The bank is set up to foster greater financial and development cooperation among the five emerging markets.The bank will be headquartered in Shanghai, China.

Voting: Unlike the World Bank, which assigns votes based on capital share, in the New Development Bank each participant country will be assigned one vote, and none of the countries will have veto power.

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What it does?

The New Development Bank will mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, to supplement existing efforts of multilateral and regional financial institutions for global growth and development.

Indian Economy -Civil Service Gurukul

22 Nov 2017 20:08

https://youtu.be/ARmvM_UGq-k

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Indian Economy -Civil Service Gurukul

22 Nov 2017 05:59

Definition of 'Market Capitalization'

Definition: Market capitalization is the aggregate valuation of the company based on its current share price and the total number of outstanding stocks. It is calculated by multiplying the current market price of the company's share with the total outstanding shares of the company.

Description: Market capitalization is one of the most important characteristics that helps the investor determine the returns and the risk in the share. It also helps the investors choose the stock that can meet their risk and diversification criterion.

For instance, a company has 20 million outstanding shares and the current market price of each share is Rs100. Market capitalization of this company will be 200,00,000 x 100=Rs 200 crore.


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Stocks of companies are of three types. The stocks with a market cap of Rs 10,000 crore or more are large cap stocks. Company stocks with a market cap between Rs 2 crore and 10 crore are mid cap stocks and those less than Rs 2 crore market cap are small cap stocks.

Indian Economy -Civil Service Gurukul

22 Nov 2017 05:49

Definition of 'Repo Rate'

Definition: Repo rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) lends money to commercial banks in the event of any shortfall of funds. Repo rate is used by monetary authorities to control inflation.

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Description: In the event of inflation, central banks increase repo rate as this acts as a disincentive for banks to borrow from the central bank. This ultimately reduces the money supply in the economy and thus helps in arresting inflation.

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The central bank takes the contrary position in the event of a fall in inflationary pressures. Repo and reverse repo rates form a part of the liquidity adjustment facility.

Indian Economy -Civil Service Gurukul

22 Nov 2017 03:57

CA Dhananjay Ojha:
🏆🏵✅GS paper 3 guidance UPSC mains 2018 and Indian Economy UPSC prelims 2018 guidance will be started from 16 December 2017.🏆🏵
✅1. Value added notes will be provided on every topic of GS paper 3 .There are almost 15 topic consists of economy, agriculture,science and techonology , Disaster management and Internal securities.
✅2. All topic related with GS Paper 3 with proper guidance will be completed before february 2018.
✅3. Apart from notes , We will provide model question with answer for every topic of GS paper 3 to improve writing skill.
✅4. We will cover current affairs portion also.We provides currents affairs news till mains 2018.
✅5.Test for UPSC Prelims 2018 will be conducted every month till May 2018.
✅6. All Indian economy query will be resolved through mail or phone within 3 days from asking query.
✅7.Monthly Current affairs gist on Indian economy for UPSC prelims 2018 will be provided to registered students.
✅8.Our notes will help in Essay writing paper also.
✅9.Benefit in terms of Exam Marks
Prelims UPSC - 40 marks (approx)
GS Paper 3 -250 Marks
Essay Paper-250 marks (approx)
Total Exam marks we are covering 500 marks in Civil Services Mains Examination and 40 Marks (approx)-Indian economy in UPSC prelims 2018.

Only registered students will be eligible for guidance .
For more details
Contact at
Telegram link .
@cadhan

Commerce Gurukul

Indian Economy -Civil Service Gurukul

23 Nov 2017 10:17

The Constitution provides for a Consolidated Fund of India to which all revenues received by way of
loans, advances etc. are credited. The expenditures are embodied in the Budget as:
• The sums required to meet the items of expenditure described by the Constitution as those charged on
the Consolidated Fund of India
• The sums required to meet other expenditures proposed to be made from the Consolidated Fund of
India.

Indian Economy -Civil Service Gurukul

23 Nov 2017 10:12

The Budget contains the financial statements of the government embodying the
estimated receipts and expenditure for one financial year, which at present commences on the 1st of April
every year. In other words, it is a proposal of how much money is to be spent on what and how much of it will
be contributed by whom or raised from where during the coming year. The Budget gives estimates for the
ensuing year and offers an opportunity to the government to review and explain its financial and economic
policy and programmes besides enabling the Parliament to discuss and criticize it.
The essential features of the financial procedure followed in India are laid down in the Constitution
which ensures the supremacy of the Lok Sabha in financial matters. Constitution provides that no tax shall be levied or collected except by authority of Parliament and that the President shall, in respect of every financial
year, cause to be laid before both Houses, the Annual Financial Statement.

Indian Economy -Civil Service Gurukul

23 Nov 2017 10:06

The use of the union budget to achieve macroeconomic objectives such as employment, sustained
economic growth, and price level stability is called fiscal policy

Indian Economy -Civil Service Gurukul

23 Nov 2017 10:03

Zero-based budgeting is a method of budgeting in which all expenses must be justified for each new period. Zero-based budgeting starts from a "zero base" and every function within an organization is analyzed for its needs and costs. Budgets are then built around what is needed for the upcoming period regardless of whether the budget is higher or lower than the previous one.

ZBB allows top-level strategic goals to be implemented into the budgeting process by tying them to specific functional areas of the organization. Costs can be first grouped, then measured against previous results and current expectations.

Indian Economy -Civil Service Gurukul

23 Nov 2017 09:59

A Performance Budget gives an indication of how the funds spent are expected to give outputs and
ultimately the outcomes.

Indian Economy -Civil Service Gurukul

23 Nov 2017 09:58

The weaknesses of the line item budgeting were sought to be remedied by introducing certain reforms.
Performance budgeting was the first such reform.

Indian Economy -Civil Service Gurukul

23 Nov 2017 09:57

The line item budget is defined as “the budget in
which the individual financial statement items are grouped by cost centers or departments .It
shows the comparison between the financial data for the past accounting or budgeting periods and
estimated figures for the current or a future period”

Indian Economy -Civil Service Gurukul

23 Nov 2017 09:50

Commerce gurukul is uploading some notes on Government budgeting.

Indian Economy -Civil Service Gurukul

23 Nov 2017 08:50

JOIN SOON t.me/economyupsc

Indian Economy -Civil Service Gurukul

23 Nov 2017 05:14

✅Recent updates
Indian economy prelims test paper 2 for upsc prelims 2018 will be conducted on 30th November 2017.

For registration contact at
@cadhan
7678456921
Mail -indianeconomyias@gmail.com.

Indian Economy -Civil Service Gurukul

22 Nov 2017 20:09

👆 very important video on cyber security for GS paper 3.

Indian Economy -Civil Service Gurukul

22 Nov 2017 07:14

IAS officer Harshita

http://www.livemint.com/Opinion/7Y0rLTq7gtSxJm101leHqM/India-needs-a-new-banking-policy-framework.html

Indian Economy -Civil Service Gurukul

22 Nov 2017 05:57

Definition of 'Human Development Index'

Definition: The Human Development Index (HDI) is a statistical tool used to measure a country's overall achievement in its social and economic dimensions. The social and economic dimensions of a country are based on the health of people, their level of education attainment and their standard of living.

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Description: Pakistani economist Mahbub ul Haq created HDI in 1990 which was further used to measure the country's development by the United Nations Development Program (UNDP). Calculation of the index combines four major indicators: life expectancy for health, expected years of schooling, mean of years of schooling for education and Gross National Income per capita for standard of living.

Every year UNDP ranks countries based on the HDI report released in their annual report. HDI is one of the best tools to keep track of the level of development of a country, as it combines all major social and economic indicators that are responsible for economic development.

Indian Economy -Civil Service Gurukul

22 Nov 2017 05:35

Definition of 'Base Rate'

Definition: Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers.

@cadhan

Description: Base rate is decided in order to enhance transparency in the credit market and ensure that banks pass on the lower cost of fund to their customers. Loan pricing will be done by adding base rate and a suitable spread depending on the credit risk premium.

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Indian Economy -Civil Service Gurukul

21 Nov 2017 20:16

There's hope for Indian economy: 7 things chief economic adviser Arvind Subramanian recently said - Moneycontrol.com
http://www.moneycontrol.com/news/india/theres-hope-for-indian-economy-7-things-chief-economic-adviser-arvind-subramanian-recently-said-2443453.html

T.me/economyupsc