India has become the fastest growing economy of the world. The size of Indian economy is $US 4.99 trillion while china stands at $US13.39 trillion in terms of PPP. In this article we have compared these two super powers of the world with the help of authentic data.
ATM card is also known as Debit Card and it is used for online shopping, online bill payments etc .Without going bank we can withdraw money from ATM machine with the help of debit card. In this article we will see that 16 numbers on debit card carries a lot of information including the card issuer and many more.
An Overview of the GDP of a nation is crucial in understanding the economy of that nation. But, do you know how GDP is defined and how can it be an insight to the Economy of a nation? GDP stands for Gross Domestic Product which helps to calculate the aggregate production; hence it works as economic indicator as well.
Tax is a mandatory liability for every citizen of the country. There are two types of tax in india i.e. direct and indirect. Taxation in India is rooted from the period of Manu Smriti and Arthasastra. Present Indian tax system is based on this ancient tax system which was based on the theory of maximum social welfare.
As we all know, Fraud cases are increasing day by day via internet banking or we can say it as cyber crime which is done by means of computer or internet. Through this article I am making you aware that while using debit card make sure that you will follow these 5 safe measures to keep your account from getting hacked.
PM Modi announced a decisive war against black money and also corruption by demonetising notes of Rs 500 and Rs 1000 which will be no longer legal. So, let us have a look on the benefits of this scheme, how it will be beneficial and also some drawbacks.
PM Modi’s announcement regarding the ban on Rs 500 and 1000 Notes has come as a surprise for all of us. But, this is not the first time that the Indian government has taken such a bold step to tackle the menace of black money. We list down the earlier instance, when the government has demonetized high-value currency.
PAN Card is a Permanent Account Number consisting of 10-digit alphanumeric number, which is used as an identity proof and issued under the Indian Income Tax Act, 1961. PAN Card is issued by the Indian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT). The PAN number is important for major financial transactions like opening a bank account, receiving taxable salary, sale or purchase of assets etc.
The origin of the word “Rupee” is from Sanskrit word Rupya which means shaped, stamped, impressed, coin and also from the Sanskrit word “raupya” which means silver. There was a long history of struggle, exploration and wealth which can be traced back to the ancient India of the 6th Century BC regarding rupee. The Paper Currency Act of 1861 gave the Government the monopoly of note issued throughout the vast expanse of British India.
Stock exchanges are the place where investors buy and sell the shares in the companies. As of now there are 23 SEBI approved stock exchanges in the country. Stock market is managed and regulated by the Securities and Exchange Board of India (SEBI).
The GST bill was passed by Indian Parliament on August 8, 2016. After a few more formalities, the bill will finally become a law. This single tax will replace all the existing indirect taxes in India. Due to this single tax named GST, the prices of many commodities will decline and it is also expected to increase the Gross Domestic Product of the country by 2%.
It is known to everyone that agriculture is the backbone of Indian economy. It provides direct employment to 53% population of the country. Currently it is contributing 14% of Indian GDP. In this article we provided the status of Indian states in terms of different crops produced by them.
The latest report on the state per capita income released by the Ministry of Statistics and Programme Implementation on 20 Aug 2015, says that Goa has highest state per capita income followed by Delhi and Sikkim respectively. While Bihar, Uttar Pradesh, Manipur, Assam, and Jharkhand are top 5 poorest states in terms of NSDP per capita.
Suresh Tendulkar panel (in 2011-12) said that those who spend Rs. 27 in rural areas and Rs. 33 in urban areas are not poor. While an expert panel headed by former RBI governor C. Rangarajan said in a report submitted to the BJP government in July, 2014 that those spending over Rs 32 a day in rural areas and Rs 47 in towns and cities should not be considered poor.
There are so many financial companies established in India to absorb the saving of household sector. Government mobilizes this small saving in the economy through these financial institutions. These major and small institutions play the same role in the economy as the blood in the human body. Some examples of these financial institutions are RBI, SEBI, IDBI, EXIM Bank and Export Credit Guarantee Corporation of India (ECGC).
Speaking at the Indian Banks’ Association’s annual general meeting, Arun Jaitley said that “The government is looking to reduce its stake in State-run banks to 52 per cent to make them more professional and independent.” At present, the government owns over 59 per cent stake in State Bank of India, the country’s largest public sector lender, 81.5 per cent in Central Bank of India, 71.7per cent in IDBI Bank.
Economic planning is the process in which the limited natural resources are used skillfully so as to achieve the desired goals. The concept of economic planning in India is derived from the Russia (then USSR). India has launched 11 five year plans so far and 12th is in progress. First five year plan was launched in 1951.