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Yogita Ingle 6 years, 7 months ago
Advantages of commercial banks are as follows:
(i) Commercial banks facilitate savings and capital formation by accepting deposits from the households and firms.
(ii) They offer loans to the households for consumption purposes and to the firms for investment purpose. This raises the level of Aggregate Demand in the economy which is very important during depression.
(iii) Commercial banks offer overdraft facilities to the firms. This helps the firms in fulfilling their emergent financial requirements.
(iv) They create credit and accordingly contribute to the flow of money in the economy.
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Yogita Ingle 6 years, 7 months ago
We know that fiscal deficit refers to the difference between the total budget expenditure and total budget receipts of the government, other than the borrowings and liabilities. That is,
Fiscal Deficit = Budget Expenditure – Budget Receipts (other than borrowing and liabilities)
On expanding the above equation we get,
Fiscal Deficit = (Revenue expenditure + Capital Expenditure) – (Revenue receipts + Capital receipts other than borrowings)
or, Fiscal Deficit = (Revenue expenditure + Capital Expenditure) – (Revenue receipts + Recovery of loans + Other receipts)
From this equation we can say that fiscal deficit reflects the total borrowing and other liability requirements of the government.
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Yogita Ingle 6 years, 7 months ago
A revenue budget is a statement of estimated revenue receipts of the government and the expenditure met from such revenue. Revenue items are of recurring nature. On the other hand, a capital budget is a statement of estimated capital receipts and capital payments of the government over a fiscal year (Mind, capital receipts create liabilities or reduce assets.)
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Most of the Indian population were employed in the primary sector . but there was lack of investment (in terms of raw material, technology, machines etc ) in this sector for it to flourish. so this sector was not developing and a large population depended upon it, and it also became a reason for low economic development in India on the eve of independence
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Yogita Ingle 6 years, 7 months ago
Significance of this distinction is that the magnitude of unemployment in an economy is reflected by the magnitude of involuntary unemployment since the former includes only involuntary unemployment.
It needs to be understood that involuntary unemployment is different from voluntary unemployment. Voluntary unemployment refers to those persons who are not willing to do work although suitable work is available for them. In other words, they are voluntarily unemployed, i.e., unemployed of their own will. Such persons are not included in labour force of the country. On the contrary, involuntary unemployment refers to a situation when those who are able and willing to work at the prevailing wage rate do not get work. Hence they are unemployed against their wishes.
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Yogita Ingle 6 years, 6 months ago
Market Demand refers to the total demand of goods by all the consumer in the market.
Aggregate Demand refers to sum total of demand of goods and services at a given time period.
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