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Ask QuestionPosted by A Roy 5 years, 2 months ago
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Posted by Nitesh Mishra 5 years, 2 months ago
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Meghna Thapar 4 years, 10 months ago
Direct taxes include income tax, property tax, corporate tax, estate tax, gift tax, value-added tax (VAT), sin tax, and taxes on assets. There are also indirect taxes, such as sales taxes, where a tax is levied on the seller but paid by the buyer. Examples of indirect taxes are excise tax, VAT, and service tax. Examples of direct taxes are income tax, personal property tax, real property tax, and corporate tax. Indirect taxes are those applied on the manufacture or sale of goods and services. These are initially paid to the government by an intermediary, who then adds the amount of tax paid to value of the goods / services and passes on the total amount to the end user. Examples : Sales tax, service tax, excise duty.
Posted by Ravina Meena 5 years, 2 months ago
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Dimpal Goyal 4 years, 7 months ago
Posted by Ravina Meena 5 years, 2 months ago
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Posted by Ravina Meena 5 years, 2 months ago
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Posted by Ravina Meena 5 years, 2 months ago
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Posted by Rushda Haneef 5 years, 2 months ago
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Posted by Nikhil Rajput 4 years, 6 months ago
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Sia ? 4 years, 6 months ago
‘In Depth’ and ‘India’s World’ are informative programs that are important for UPSC preparation. In this article, you can read about the discussions held in the ‘Big Picture’ episode on “Oil Price War & Implications” for the IAS exam. This edition of the big picture analyses the impact that the Coronavirus pandemic has had on the global oil sector.
Posted by Yukta Bhargav 5 years, 2 months ago
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Yukti Bhojkhi 5 years, 2 months ago
Posted by Noorain Ahmed 5 years, 2 months ago
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Meghna Thapar 5 years ago
The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. By 1930, 4 million Americans looking for work could not find it; that number had risen to 6 million in 1931. Meanwhile, the country's industrial production had dropped by half. In 1930, severe droughts in the Southern Plains brought high winds and dust from Texas to Nebraska, killing people, livestock and crops.
Posted by Manav Sharma 5 years, 2 months ago
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Posted by Poulomi Das 5 years, 2 months ago
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Yogita Ingle 5 years, 2 months ago
Profit-making public sector undertakings are the main source of revenue of the government to be used in special welfare programmes. This enables to promote equality of income and wealth distribution among the public. The PSUs which operate with social motive such as railways, water supply and postal services should be retained in the public sector. However, many PSUs incur losses. These loss-making units should be privatised to protect the financial condition of the government. However, profit-making industries should remain in the public sector only because the resources of these units can be used for developmental activities. The government should retain strategic industries to prevent emergence of any monopoly in the privative sector.
Posted by Bharani Dharan 5 years, 2 months ago
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Posted by Bharani Dharan 5 years, 2 months ago
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Noorain Ahmed 5 years, 2 months ago
Posted by Bharani Dharan 5 years, 2 months ago
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Posted by Vishavjeet Kamboj 5 years, 2 months ago
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Yogita Ingle 5 years, 2 months ago
Consumer goods are those goods that are consumed directly by the consumers and they are there to server the emerging wants and needs of a consumer, while producer goods are those that goods that may be used to produce other goods, the example of the producer goods may be the technological machines which are used in production of other goods
Aaiman Farhin 5 years, 2 months ago
Posted by Neha Dhakad 5 years, 2 months ago
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Posted by Mily Biate 5 years, 2 months ago
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Yogita Ingle 5 years, 2 months ago
Economic development refers to the process by which the overall health, well-being, and academic level of the general population of a nation improves. It also means improved production volume due to the advancements of technology.
It is the qualitative improvement in the life of citizens of a country and is most appropriately determined by the Human Development Index (HDI). The overall development of a country is based on many parameters such as the creation of job opportunities, technological advancements, standard of living, living conditions, per capita income, quality of life, improvement in self-esteem needs, GDP, industrial and infrastructural development, etc.
Posted by Abhijeet Sahu 5 years, 2 months ago
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A Roy 5 years, 2 months ago
Noorain Ahmed 5 years, 2 months ago
Posted by Aditi Singh 5 years, 2 months ago
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Gaurav Seth 5 years, 2 months ago
False
Commercial banks play the important role of 'money creator' in the economy. They have the capacity to generate credit through demand deposits. These demand deposits make credit more than the initial deposits. The money supply in the economy will increase by the amount (times) of credit multiplier.
Posted by Preet Dhillo 5 years, 2 months ago
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A Roy 5 years, 2 months ago
Noorain Ahmed 5 years, 2 months ago
Aaiman Farhin 5 years, 2 months ago
Posted by Preet Dhillo 5 years, 2 months ago
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Noorain Ahmed 5 years, 2 months ago
Posted by Poorvika Poorvika 5 years, 2 months ago
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Yogita Ingle 5 years, 2 months ago
When goods and services included in GDP are valued at current prices, i.e., prices prevailing in the year for which GDP is being measured, it is called nominal GDP. For example, Nominal GDP of 2010 is the value of output produced in 2010 calculated at the market prices prevailing in 2010. In short Nominal GDP values current year's output in an economy at current year prices.
Posted by Ashfaque Khan 5 years, 2 months ago
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Posted by Khushi Janghu 5 years, 2 months ago
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Aaiman Farhin 5 years, 2 months ago
Gaurav Seth 5 years, 2 months ago
A commercial bank is a kind of financial institution which carries all the operations related to deposit and withdrawal of money for the general public, providing loans for investment, etc. These banks are profit-making institutions and do business only to make a profit.
The two primary characteristics of a commercial bank are lending and borrowing. The bank receives the deposits and gives money to various projects to earn interest (profit). The rate of interest that a bank offers to the depositors are known as the borrowing rate, while the rate at which banks lends the money is called the lending rate.
Posted by Priya Sharma 5 years, 2 months ago
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Aaiman Farhin 5 years, 2 months ago
Gaurav Seth 5 years, 2 months ago
Demand Deposits also known as Current Account deposits refer to those deposits that provide the depositor the liberty to withdraw money at any point of time. That is, the account holder of the demand deposits can demand these deposits at any point of time as per their discretion and convenience. Such deposits do not offer any rate of interest.
Posted by Sa Hil 5 years, 2 months ago
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Posted by Tep Tepp 5 years, 2 months ago
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Meghna Thapar 5 years, 2 months ago
Globalization creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world. Thus, businesses located in developing countries have more access to capital flows, technology, human capital, cheaper imports, and larger export markets. India has felt the impact of globalization through increased prosperity, partly triggered by increasing trade volumes, investment, and growth. Scholarly work on trade, FDI, and the environment in India with rich theoretical insight and solid empirical evidence is scarce. The wake of globalization was first felt in the 1990s in India when the then finance minister, Dr Manmohan Singh initiated the economic liberalization plan. Since then, India has gradually become one of the economic giants in the world.
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Meghna Thapar 5 years ago
Welfare is the well-being or satisfaction enjoyed by the society which is actually determined to a great extent by the wealth of the nation. Wealth generally hikes up our level of welfare although both of them are two completely different concepts. Wealth refers to certain material and non-material goods having the four essential attributes - Utility, scarcity, transferability and external possession of man.
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