Indian Economy -Civil Service Gurukul

21 Dec 2017 04:34

http://www.thehindubusinessline.com/todays-paper/tp-news/offgrid-power-firms-fret-as-saubhagya-lines-up-every-home/article9913034.ece?ref=relatedNews

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Indian Economy -Civil Service Gurukul

20 Dec 2017 03:34

Fiscal deficit is budget deficit plus borrowings and other liabilities. Previously, when budgetary defcit was the prime consideration, borrowings from the market and receipts from national savings, provident funds, etc. were being treated as capital receipts. To this extent, government’s actual deficit was being understood. In other words, fscal defcit indicates
the total borrowing requirements of the government from all sources, whereas budgetary defcit only indicated government’s borrowing from RBI.
Fiscal defcit = Revenue receipts (net tax revenue and
non tax revenue capital receipts (only
recoveries of loans and other receipts) –
Total expenditure (Plan and non-plan)
or
Fiscal defcit = Budget defcit + Government’s market
borrowing and liabilities.

Indian Economy -Civil Service Gurukul

20 Dec 2017 03:32

Types of Deficit
Revenue deficitmeans the excess of current revenue expenditure over current revenue receipts. Revenue defcit indicates that the government cannot meet its current expenditure from its current revenue.
Revenue Defcit= Revenue expenditure – Revenue receipts

Indian Economy -Civil Service Gurukul

20 Dec 2017 03:30

Fiscal Policy deals with the taxation and expenditure decisions of the goverment covered in the annual budget. Monetary Policy
deals with the supply of money in the economy and the rate of interest. In India, the goverment deals with fscal policy, while
the Central bank (RBI) is resoponsible for monetary policy

Indian Economy -Civil Service Gurukul

16 Dec 2017 06:00

https://www.youtube.com/watch?v=u6SJO8zibdQ&list=PLVOgwA_DiGzpd3_Iz7J-81Vh4QqU-ZGA9&index=1

join our Guidance program for GS paper 3 and Indian economy
To get register - @cadhan

Indian Economy -Civil Service Gurukul

15 Dec 2017 15:28

to get register
contact @cadhananjay

Indian Economy -Civil Service Gurukul

15 Dec 2017 15:27

Types of Banks
Scheduled and Non-scheduled Bank
Under the reserve Bank of India Act, 1934, banks were classified as scheduled
banks and non-scheduled banks. All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks.Scheduled Commercial Banks in India are categorised into five different groups according to their ownership and / or nature of operation. These bank groups are (i) State Bank of India and its Associates, (ii) Nationalised Banks, (iii) Private Sector Banks, (iv) Foreign Banks, and (v) Regional Rural Banks. In the bank group-wise classification, IDBI Bank Ltd. has been included in Nationalised Banks.Scheduled Co-operative Banks consist of Scheduled State Co-operative Banks and Scheduled Urban Co operative Banks.
As per Banking Regulation Act, 1949 ,The banks that are not included in the Reserve Bank of India (RBI) Act, 1934 are defined as Non Scheduled bank.These banks are not eligible for having loans from RBI for meeting their day to day general requirements. Only in emergency conditions , these banks can be granted loans from RBI. non-scheduled banks are the banks that do not adhere to the norms prescribed by the Reserve Bank of India (RBI).
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Indian Economy -Civil Service Gurukul

15 Dec 2017 11:41

Fifteenth Finance Commission

The Union cabinet has approved constitution of the Fifteenth Finance Commission that will decide the formula for sharing of taxes between the Centre and states for five years starting April 1, 2020.
Article 280 of the Constitution requires setting up of a finance commission within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year.
The Finance Commission was established by the President of India in 1951 under Article 280 of the Indian Constitution.
It was formed to define the financial relations between the central government of India and the individual state governments.
The Finance Commission (Miscellaneous Provisions) Act of 1951 additionally defines the terms of qualification, appointment and disqualification, the term, eligibility and powers of the Finance Commission. A
s per the Constitution, the Commission is appointed every five years and consists of a chairman and four other members..
The Chairman of the Finance Commission is selected from people with experience of public affairs.
The other four members are selected from people who:
Are, or have been, or are qualified, as judges of High Court,
Have knowledge of Government finances or accounts, or
Have had experience in administration and financial expertise; or
Have special knowledge of economics
The 14th Finance Commission was set up on January 2, 2013. Headed by former Reserve Bank of India governor YV Reddy, its recommendations cover the period from April 1, 2015 to March 31, 2020. The Fourteenth Finance Commission had stepped up the share of states in net central taxes to 42% from 32%.

Indian Economy -Civil Service Gurukul

15 Dec 2017 07:37

⭐️⭐️⭐️
ANNOUNCEMENT-GST BOOK
CA,CS,LLB,UPSC aspirants and Graduation students.

Many students continously asking for GST book, this is for them:
Book is went for 2nd reading and publishing. So as and when finally available will be informed at this platform only.

Regarding changes- As Text Book includes Revision hand book students can note changes at space provided there.

Amendment/Changes will be provided at this platform only.

GOOD LUCK
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Indian Economy -Civil Service Gurukul

14 Dec 2017 09:17

Filing of Form TRAN-I to avail Input Tax Credit

Transition to GST provided for trust based transition of input tax credit of the existing taxpayers.
A tax payer could file Form TRAN 1 and avail input tax credit on the basis of closing balance of the input tax credit declared in the last return under the pre GST regime.
The last date for filing of Form TRAN 1 is 27th December, 2017.
In keeping with the philosophy of voluntary compliance, revision of Form TRAN-1 has also been provided.
The last date for revision of TRAN-1 is also 27th December, 2017.
It has been noted that some taxpayers have availed extraordinarily high transitional credit of CGST which is neither commensurate with the trend of input tax credit of the industry nor as maintained by the taxpayer himself in the past.
Some of these high transitional credits may have a bonafide explanation or may be a case of bonafide mistake.
However, it has been noted that high transitional credit has been claimed in many cases for which perhaps no bonafide explanation exists.
Analysis to identify such units is underway. Such behaviour leads to breach of trust between the taxpayer and the tax-administration, which is the bed-rock of self-assessment regime in GST.
Taxpayers who have claimed transitional credit erroneously are advised to avail of the opportunity to revise Form TRAN-1 by 27th December, 2017 and ensure that only correct and bonafide credit is availed in transition, failing which the tax administration would be constrained to initiate audit and enforcement action against the identified units.
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Indian Economy -Civil Service Gurukul

12 Dec 2017 14:58

https://dhananjayco.wordpress.com/2017/12/12/gst-registration/

Indian Economy -Civil Service Gurukul

11 Dec 2017 17:53

We will start guidance program from 16th December.
There are several benefits for joining.

Indian Economy -Civil Service Gurukul

11 Dec 2017 16:40

https://commercegurukul.wordpress.com/2017/12/12/problems-in-railway-infrastructure/

Indian Economy -Civil Service Gurukul

10 Dec 2017 08:55

https://commercegurukul.wordpress.com/2017/12/10/infrastructure-energy-ports-roads-airports-railways-public-private-partnership-topic-of-gs-paper-3-of-upsc/

Indian Economy -Civil Service Gurukul

09 Dec 2017 11:20

http://imojo.in/11yubd

Indian Economy -Civil Service Gurukul

20 Dec 2017 03:35

PDF ON FINANCIAL MARKET

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Indian Economy -Civil Service Gurukul

20 Dec 2017 03:32

Budget defcit is the overall defcit, i.e. the excess of total expenditure over total revenues. It includes both capital and revenue items in receipts and expenditure. Traditionally, defcit fnancing in Indian budgets had meant flling this gap.
Budget Defcit= Total expenditure – Total receipts

Indian Economy -Civil Service Gurukul

20 Dec 2017 03:31

Fiscal policy
Fiscal policy or budgetary policy refers to the use by
the government of the various instruments such as
taxation, expenditure and borrowing in order to achieve
the objectives of balanced economic development, full
employment or to establish a welfare state.

Indian Economy -Civil Service Gurukul

17 Dec 2017 10:48

A complete tax benefits details section wise.

*Section 80c*

Under Section 80C, the maximum tax exemption limit is Rs 1.5 Lakhs per annum. The various investments that can be claimed as tax deductions under section 80c are listed below;

# PPF (Public Provident Fund)
# EPF (Employees’ Provident Fund)5 years # Bank or Post office Tax saving Deposits
# National Savings Certificates (NSC)
# ELSS Mutual Funds (Equity Linked Saving Schemes)
# Children’s Tuition FeesLife Insurance. # PremiumSukanya Samriddhi Account. # Deposit SchemeSCSS (Post office Senior Citizen Savings Scheme)
# Repayment of Home Loan (Principal only)
# National Pension SystemNABARD rural Bonds
# Stamp duty charges for purchase of a new house

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*Section 80CCC*

Contributions made towards Annuity plans available with any of the Life Insurance Companies for receiving pension from the fund can be considered for tax benefit. The maximum Tax deduction allowed under this section is Rs 1.5 Lakhs.

*Section 80CCD*

Employees can contribute to National Pension Scheme (NPS). The maximum contributions can be up to 10% of the salary (Basic+DA) for salaried or gross income in case of self employed. From 2017-18 and additional tax deduction of up to Rs 50,000 u/s 80CCD (1b) is allowed for excess employee contributions and this is over and above the limit of Rs 1.5 Lakhs.

The definition of Salary is ‘Basic + Dearness Allowance + any other bonus’. If the employer also contributes to Pension Scheme, the entire employer contribution (maximum 10% of the salary) can be claimed as a tax deduction under Section 80CCD (2). This is over and above the limit of Rs.1.5 Lakhs.

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It is to be kindly noted that the total deductions under sections 80C, 80CCD (1) and 80CCC put together cannot exceed Rs 1,50,000 for the financial year 2017-18.

*Section 80DD*

Up to Rs 75,000 can be claimed for spending on medical treatments of your dependents (spouse, parents, children or siblings) who have 40% disability. The upto Rs 1.25 lakhs can be deducted in case of severe disability (80%).

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*Section 80DDB*

Any individual below the age of 60 years can claim upto Rs 40,000 for the treatment of certain specified critical diseases. This can also be claimed for his/her dependents.

Senior Citizens (above 60 years) can claim upto Rs 60,000 and very Senior Citizens (above 80 years) can claim Rs 80,000 under this section.

It is mandatory for an individual to obtain a Medical Certificate from a specialist doctor in a Hospital, to claim Tax deductions under Section 80DDB

*Section 80U*

This section is similar to Section 80DD but here the Tax deduction is permitted for the employee himself who is physically or mentally challenged.

*Section 80D*

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Upto Rs. 30,000 can be deducted towards the medical insurance premium for senior citizens (above 60 years) and upto Rs. 25,000 can be deducted towards medical insurance of self and dependents (spouse & children).

Additionally, a deduction of up to Rs. 25,000 towards medical insurance premium of parents (father/mother/both) is available. If both the parents (Father & Mother) are senior citizens, then the deduction allowed is up to Rs. 30, 000.

Section 24: Income Tax Benefit for Interest paid on Home Loan

Income tax benefit on payment of Interest paid on home loan is allowed for deduction under Section 24. The maximum deduction allowed under this Section for a self-occupied house property is upto Rs. 2 Lakhs.

In case, the home Loan has been taken for the property which is not self-occupied, there is no maximum limit prescribed and the entire interest paid is fully exempted.

If the taxpayer has availed a home loan for repair works or reconstruction, a maximum deduction of upto Rs 30,000 per financial year is permitted.

*Section 80EE*

In Budget 2017-2018, a new proposal has been made in which, first time home buyers are eligible for an ad

Indian Economy -Civil Service Gurukul

15 Dec 2017 16:08

Supervisory Function- In addition to above mentioned functions, the Reserve bank has certain non-monetary functions of the nature of supervision of banks and promotion of sound banking in India. The RBI is authorized to carryout periodical inspections of the banks and to call for return and necessary information from them

Indian Economy -Civil Service Gurukul

15 Dec 2017 15:28

join GS paper 3 guidance program and Indian economy guidance

Indian Economy -Civil Service Gurukul

15 Dec 2017 15:27

A Bank is a financial institution which accepts money from the public for the purpose of lending or investment repayable on demand or otherwise withdrawable by cheques, drafts or order or otherwise. Bank’s primary liabilities are deposits and primary assets are loans and bonds.

Indian Economy -Civil Service Gurukul

15 Dec 2017 09:36

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FOR MORE DETAIL- commercegurukulca@gmail.com

Indian Economy -Civil Service Gurukul

14 Dec 2017 16:45

https://raichandanicaharshita.blogspot.com/2017/12/dream-big.html

Indian Economy -Civil Service Gurukul

13 Dec 2017 03:58

Infrasture notes for GS paper 3 has been send to students for smart preparation of GS paper 3.
To get register Contact at
@cadhananjay

Indian Economy -Civil Service Gurukul

11 Dec 2017 17:53

🏆🏵✅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)g
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.


For more details
Contact at

@cadhananjay

Indian Economy -Civil Service Gurukul

11 Dec 2017 17:52

👆part of notes of GS 3 Guidance program

Indian Economy -Civil Service Gurukul

11 Dec 2017 12:16

⭐⭐⭐**GET CLOSURE TO SUCCESS BY JOINING TEST SERIES, UPSC COMMERCE OPTIONAL and ECONOMICS**⭐⭐⭐

TEST SERIES - A WAY TO SUCCESS
- INDIAN ECONOMY https://imjo.in/vECUyG
- COMMERCE OPTIONAL (UPSC) https://imjo.in/9XQwuj

WHY, TO WASTE MONEY😱
Lakhs of Students preparing for UPSC, why on few hundreds get selected???
Its becz they do Hard and Smart work.
Syllabus is never ending. One cannot memorize each word.
Practise makes them perfect, a habitual writer for any question. NOW is the BEST TIME.

FOR MORE DETAIL- commercegurukulca@gmail.com

Indian Economy -Civil Service Gurukul

10 Dec 2017 05:15

International Energy Agency

The IEA and India benefit from a long, ongoing bilateral relationship built on co-operation in a broad range of areas including energy security, statistics, efficiency, market analysis, implementation agreements and technology. The co-operation was first formalised as early as 1998 with the signing of the Declaration of Cooperation covering important issues related to energy security and statistics. Since then the relationship has developed further through the endorsement of three Joint Statements, the last one in 2013. That Joint Statement covers areas of mutual interest to the IEA and India and helps facilitate co-operation at different levels and under various topics within the energy field. A priority area for co-operation is oil and gas security, and the IEA and the Ministry for Petroleum and Natural Gas signed a Memorandum of Understanding (MoU) in 2011. This was the first time that the IEA signed a MoU with a key partner country in the area of emergency preparedness. The IEA published "World Energy Outlook 2015" which features a special report on India's energy outlook. In 2016, the National Institution for the Transformation of India (NITI) Aayog and the IEA signed a Statement of Intent to enhance co-operation in numerous fields including forecasting and data.

In March 2017, after a series of intensive consultations with all the relevant ministries, India joined the IEA as an Association country. This was a major milestone for global energy governance and another major step towards the IEA becoming a truly global energy organisation and strengthening ties with the key energy players. Since then, Indian delegations have actively participated in IEA committees, meetings and workshops. The IEA launches major publications in New Delhi to share our findings with Indian energy communities and policy-makers.

The IEA and India also have a long-standing collaboration in energy efficiency and have organised several joint workshops. In 2015, the IEA together with the Indian Petroleum Conservation Research Association (PCRA) helped bring in international expertise to support the development of regulations for Heavy Duty Vehicles.
join soon - @economyupsc

The IEA and India also collaborate in renewable energy. In September 2015, the IEA with the support of the Ministry for New and Renewable Energy, organised a workshop exploring key considerations for implementing a national wind energy technology roadmap in India.
Guidance program for GS paper 3 will be started from 16th december 2017.
for more details contact at @cadhan

Indian Economy -Civil Service Gurukul

08 Dec 2017 22:37

🏆🏵✅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)g
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.


For more details
Contact at

@cadhananjay