During times of economic instability, governments may be forced to take drastic actions. It's possible that to fund certain programs, the government may need to make changes to the country's fiscal policy in areas like taxes. The rules often affect customers' ability to spend, which has repercussions for the economy. Governments may take several economic policies, including automatic stabilizers and discretionary policies. You'll have a better handle on the economy and be able to make more educated financial decisions if you're familiar with these policies. Here, we'll compare and contrast automatic stabilizers with arbitrary government action to see which is ... Read More

It may be necessary for the government to take monetary policies for the economy to fulfill its macroeconomic objectives. Analysts, financial professionals, economists, and investors contribute to the deliberation process by submitting studies on monetary policy options for a country to consider. The necessity to regulate consumption, inflation, liquidity, and expansion to support long−term, sustainable economic growth often necessitates this. The government may pursue a monetary policy by, for example, altering the necessary reserve ratio of banks, buying or selling government bonds, controlling the cost of foreign exchange, or adjusting interest rates. The government has several tools at its disposal, ... Read More

Permits and Licenses are standard terms that we use in our daily lives, but we still often get confused between the both. Even though licenses and permits look like they have the same meaning, they differ a lot.Let’s take a situation. In many states, workers need permits to work in other countries, whereas licenses, on the other hand, are required to maintain legal rules and regulations such as to start something like a business, hospitals, etc. The government uses licenses and permits to regulate the importation, exportation, release of goods, etc. Government can monitor invasion activities easily by using permits ... Read More

Making a mistake on your taxes may be expensive for individuals as well as corporations. Businesses that do not pay their taxes to the appropriate authorities and are subsequently unable to make their tax payments, as well as any applicable interest or penalties, may even be required to close their doors.When it comes to people, tax avoidance may result in severe penalties and possibly time spent in jail. Because of this, people and other types of businesses are strongly advised to make use of the expertise of a trained professional at all times.The authorities in charge of levying and collecting ... Read More

A bank is a component of the financial system that issues demand deposits while also taking public deposits. Both direct and indirect lending activities can be carried out through capital markets. Banks are heavily regulated in most nations due to their significance to financial stability.While they enable consumers to borrow money, invest, save for the future, and manage smaller chores (such as making deposits and paying bills), banks and the financial services sector are crucial to the economy.Depending on the inclination and financial condition, there are numerous distinct types of banks.What are Commercial Banks?A financial institution that accepts deposits, provides ... Read More

The Goods and Services Act (also known as GST) is a new take of the government on the Indian taxation system. Long story short, it is aimed to merge an array of various taxes imposed on Indian consumers into a single tax. The 101st Amendment of the Indian Constitution introduced the GST Act in 2016. Mr Arun Jaitley, the Union Finance Minister of India, and the GST Council govern the GST Act. GST comprises of a calculated amalgamation of various indirect taxes such as a tax on sale, manufacture, consumption of goods and services across India. It is intended to ... Read More

The government recently made it compulsory to link your Aadhaar card with PAN. It was reported that taxpayers were finding it difficult as their names did not match in both systems which means names with different initials, and different spellings in PAN and Aadhaar card. For encountering such problems, the department responded to such grievances has come out with a simple solution now – linking the two cards together.A PAN (Permanent Account Number) card is a unique 10 character alpha-numeric code that is assigned to all the tax paying entities in India. It is issued by the Income Tax Department. ... Read More

The post of Prime Minister of India, for one of the largest and most populated countries in the world, is not an easy position to hold. Since the Prime Minister of the country has to undergo a lot of pressure and work, there are obviously some perks that he or she will be eligible for.Let us see what is the salary of the prime minister is and what are the perks and luxuries that he can access when he is in the post of the prime minister.The monthly salary of the Prime Minister of India is approximately 1, 60, 000 ... Read More

Statistics show that in 1980 the economies of China and India were almost the same in terms of gross domestic product (GDP). But China has crossed India and continuing to run ahead. China is ahead of India economically because it has initiated economic reforms at least 1 decade earlier.Chinese are currently obsessed with technological leadership and their economy is growing at an average rate of 10% every year. In fact, the Chinese manufacturing sector is presently eight times the size of India's. There are many reasons for their rapid growth in technology.Chinese Government has initiated Business-friendly Special Economic Zones and ... Read More

Republic day in India is celebrated on 26th of January every year and holds a seminal value. The day is celebrated in grandeur in the capital city's India Gate. Various events take place in the capital city and elsewhere to celebrate the framing of the Indian Constitution.Order of Events On Republic DayPrime Minister lays a floral wreath at Amar Jawan Jyoti. It is an Indian memorial constructed post the Indo-Pakistani War of 1971 to commemorate the martyred soldiers of the Indian Armed Forces who died during the war.President along with his bodyguards proceeds to the parade ground in Red Fort. ... Read More