18Oct, 2022
    Chapter-10: Government Budget

    CONCEPT OF GOVERNMENT BUDGET

    Government budget is a statement of the estimates of the government’s expected receipts and government’s expected expenditure during the financial year or fiscal year which runs from 1st April to 31st March.

     

    In India, Article 112 of the Constitution requires the Central Government to prepare Annual Financial statement’ for the country as a whole. This is called ‘Budget of the Central Government’. Article 202 of the Constitution requires every state Government to prepare ‘Annual Financial Statement’ for the concerned state. This is called ‘Budget of the state Government’.

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    17Oct, 2022
    Chapter-11: Foreign Exchange Rate

    FOREIGN EXCHANGE 

    Foreign exchange refers to the reserve of foreign currencies, e.g. currency of US and UK are the foreign exchange for India.

     

    FOREIGN EXCHANGE RATE

    The price at which one currency is exchanged for another is called the rate of exchange. In other words, the rate of exchange is the price of one currency stated in terms of another currency. Read More

    17Oct, 2022
    Chapter-12: Balance of Payment (BOP)

    BALANCE OF PAYMENTS (BOP)

    The BOP accounts is a summary of international transactions of a country for a given period, that is a financial year. The balance of payments of a country is a systematic record of all transactions in goods, services and assets between the residents of the country and the residents of foreign countries during a given period of time., usually one year.

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    7Oct, 2022
    Chapter-1:INDIAN ECONOMY ON THE EVE OF INDEPENDENCE

    [quads id=1]FACTS

     

    • The British rule that started with the conquest of Plassey battle in 1757
    • Britishers ruled India for almost 200 years, till 15th August, 1947.
    • Their sole purpose was to exploit the natural resources of India for their own benefit and to reduce the country to being a raw material supplier for Great Britain’s own rapidly expanding modern industrial base.

     

     INDIAN ECONOMY: PRIOR TO BRITISH RULE

     

    • Prior to British rule, the Indian economy was a development economy.
    • India was known as “Sone Ki Chidiya”, so many travelers have described India as a rich country.
    • Agriculture was well-developed and villages were self-sufficient.
    • Indian handicrafts was famous worldwide.

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