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Yogita Ingle 6 years, 5 months ago
Goods and Services Tax (GST) is a federal tax. GST is an indirect tax, imposed on the sale of goods and services. It is implemented throughout the country since July 1, 2017. There will be no distinction between goods and services for the purpose of taxation. GST will be a destination-based tax. This implies that all State GST collected will ordinarily accrue to the State where the consumer of the goods or services sold resides.
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Yogita Ingle 6 years, 5 months ago
The exchange rate is the rate at which one currency is exchanged for another currency. It is the price of one currency in terms of the price of another currency. It is the value of one currency in terms of another in the international market.
The rise in the exchange rate implies a reduction in the value of the domestic currency. Thus, more units of domestic currency would be required to be paid for obtaining one unit of foreign currency. In this situation, the domestic currency is said to be depreciated. Depreciation is the reduction in the value of the domestic currency due to the actions of the forces of demand and supply. This raises the exchange rate and can affect the national income. This can influence the national income.
Exports can be promoted by the fall in the value of the currency. When the devaluation takes place, the domestic currency becomes cheaper in the international market compared other countries currency. This will lead to the purchase of the country’s exported good from other countries. Hence the devaluation by the country will increase the exports of the country and increase the national income in the short-run. But the strategy becomes ineffective in the long-run. A country having a depreciated currency will have huge deficits in their BOP in the long-run because of the increasing import bills. The devaluation makes the imports costlier resulting in the fall in national income in the long-run.
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Yogita Ingle 6 years, 5 months ago
Advantages of good and services tax(GST)
- Increase in government revenue.
- The cost of doing business will significantly reduce.
- There will be huge reduction in manufacturing cost of products.
- GST will remove 17 indirect tax levies.
- Logistics cost will see a huge dip due to less checks at state borders and no state taxes. In India a truck carrying goods move 280 km a day while compared to US’s 800 km.
- Many businesses create warehouses in different states due to difference in tax rates but now with GST the difference between states will vanish.
- It will give a boost to India which can be as much as 2% increase in growth rate.
- The GST Network (GSTN) is designed to capture all transaction details up to invoice level. Hence, you can’t escape the inputs or services used in providing the goods or services. Earlier traders didn’t print the invoices as it helped to reduce some burden on them but now they will not be able to that.
- GST will be monitored by both state and central government officers so there are very little chances of escaping from paying the taxes.
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Yogita Ingle 6 years, 5 months ago
Induced investment refers to the investment which is made with the motive of earning profit as it is done in private sector. Induced investment depends directly upon profit expectations. It is income-elastic. If national income goes up, induced investment also goes up, i.e., increase in income induces investment. Its reason is that increase in national income leads to an increase in demand for goods and services which raises the expected profitability of producers. Thus producers are induced to make great investments. In short, induced investment takes place when level of income and demand in the economy goes up.
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Yogita Ingle 6 years, 5 months ago
Hedging is the process of protecting oneself against risk.
Hedging is trying to reduce uncertainty by buying (or selling) something in a futures market. So an airline might hedge against volatile aviation fuel prices by buying the fuel it thinks it will need ahead of time - say 6 months before.
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Yogita Ingle 6 years, 5 months ago
Ideal supply of money is that money supply which is required to buy goods and services produced in an economy. In other words, we can say that this money keeps the aggregate demand equal to aggregate supply so that inflation or deflation situations does not exist in the economy.
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Yogita Ingle 6 years, 5 months ago
Microeconomics is the study of the economic behavior of individuals, households and firms’ in decision making and allocation of resources.
Microeconomics is concerned with:
- Supply and demand in individual (Textile Market) markets
- Individual consumer behaviour. e.g. Consumer choice theory
- Individual producer behavior.
- Individual labour markets, g. demand for labour wage determination in that individual market
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Laxman Singh Papoĺa 6 years, 5 months ago
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