Page 4 of Economy

Centrally Sponsored Scheme meaning: The category of centrally sponsored schemes comprises programmes that have a national character or a regional…

Non Tax Revenue definition: While taxation is a primary source of income for the government, it also earns some recurring…

Non Debt Capital Receipts definition: Taxes and duties levied by the government form the biggest source of its income or…

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,…