The Public Distribution System (PDS) in India is a government-run program that aims to distribute essential food items to the country's economically vulnerable populations at subsidized rates. It plays a crucial role in ensuring food security for millions of Indians. In this post, let us cover the … [Read more...] about Public Distribution System (PDS) – objectives, functioning, limitations, revamping
Economics Notes
What is Money Supply? Definition and Concept Explained
What is meant by Money Supply? The money supply is the total value of money available in an economy at a point of time. Money Supply is also known as Money Stock. What constitutes money? There is no uniform definition of money. Common public usually associate currency with money. As you … [Read more...] about What is Money Supply? Definition and Concept Explained
Cut Motions: Policy Cut, Economy Cut, and Token Cut
What is meant by policy cut, economy cut, or token cut motions? You might have noticed about the Demand for Grants while going through Indian Budget. These are demands usually made in respect of the grant proposed for each Ministry. But Parliament being the authority to check the … [Read more...] about Cut Motions: Policy Cut, Economy Cut, and Token Cut
Rs.500, Rs.1000 Currency Notes Scrapped: What you need to know
Prime Minister Narendra Modi has announced the demonetisation of Rs. 1000 and Rs. 500 notes with effect from midnight. This step makes these notes invalid from today. Apart from this, government has also reduced the cash withdrawal limits from banks and ATMs. The move is seen as a major assault on … [Read more...] about Rs.500, Rs.1000 Currency Notes Scrapped: What you need to know
Unified Payment Interface (UPI): Made Simple
Unified Payment Interface (UPI) has recently been in the news. UPI is believed to have revolutionised the way Indians do banking. In this post, we will see what UPI is and how safe it is to use UPI. In February 2024, NPCI International Payments Limited (NIPL), in partnership with Lyra, a French … [Read more...] about Unified Payment Interface (UPI): Made Simple
10 Benefits of Goods and Service Tax (GST)
Goods and Service Tax (GST) is a single tax on the supply of goods and services, right from the manufacturer to the consumer. GST is one indirect tax for the whole nation, which will make India one unified common market. The benefits of Goods and Service Tax (GST) GST is beneficial not only for … [Read more...] about 10 Benefits of Goods and Service Tax (GST)
Difference between Full Budget and Vote on Account
While studying Budget related topics, many are confused about the differences between full budget, interim budget, and vote on account. Don't worry! We hope this post will clear all your queries! To understand the connection better, I recommend you to understand the following rule first. Rule: … [Read more...] about Difference between Full Budget and Vote on Account
Index of Industrial Production (IIP): Made Easy to Understand
You all know that GDP measures the overall activity (production) in the Indian Economy. But is there any index which specifically captures the industrial activity in the Indian Economy? Yes, this index is known as the Index of Industrial Production (IIP). What is IIP? The Index of Industrial … [Read more...] about Index of Industrial Production (IIP): Made Easy to Understand
National Investment and Infrastructure Fund (NIIF)
Projects like Smart Cities, Dedicated Freight Corridors, High-speed railways etc require huge, long-term investment. From where does this money come from? Government of India had announced setting up of National Investment and Infrastructure Fund (NIIF) in 2015 budget. The fund was eventually set up … [Read more...] about National Investment and Infrastructure Fund (NIIF)
Insolvency and Bankruptcy Code: Why do we need it now?
India did not have a single bankruptcy code. What we had were age-old laws which are in conflict with each other. Lack of an insolvency and bankruptcy code had proved costly for the creditors (mainly banks) in many cases like the recent Kingfisher Airlines case. The Insolvency and Bankruptcy Code … [Read more...] about Insolvency and Bankruptcy Code: Why do we need it now?
