Repo linked lending rate (RLLR): From October 1, 2019, all new floating rate personal or retail loans such as your…
Wholesale Price Index meaning: WPI measures the changes in the prices of goods sold and traded in bulk by wholesale…
Public debt meaning: In the Indian context, public debt includes the total liabilities of the Union government that have to…
Finance Commission Grants & Other Transfers definition: The Finance Commission is a constitutional body set up by the President of…
Economic Survey, presented in the Parliament ahead of the Union Budget, is the Ministry of Finance’s flagship document.
A State Finance Commission reviews the financial position of the panchayats in a state and makes recommendations to the Governor.
Primary Deficit is the difference between the current year’s fiscal deficit and the interest paid on the borrowings of the…
Subsidy refers to the discount given by the government to make available the essential items to the public at affordable…
Capital Account meaning with example: In the field of international trade and commerce, these two terms – current account and…
Consumer Price Index or CPI as it is commonly called is an index measuring retail inflation in the economy by…
Capital Expenditure meaning: The Union government defines capital expenditure as the money spent on the acquisition of assets like land,…
Goods and Services Tax meaning: GST, or Goods and Services Tax, is a tax that customers have to bear when…
Fiscal Deficit is the difference between the total income of the government (total taxes and non-debt capital receipts) and its…
Revenue Expenditure is that part of government expenditure that does not result in the creation of assets.
Finance Commission is a constitutional body, that determines the method and formula for distributing the tax proceeds between the Centre…
Gross Domestic Product meaning: Gross Domestic Product, abbreviated as GDP, is the total value of goods and services produced in…
Union Excise Duty meaning: This is a duty on manufactured goods, which is levied at the time of manufacture.
Inflation meaning: Inflation refers to the rise in the prices of most goods and services of daily or common use,…
