Economics Uncategorized

Sustainable Development

Meaning: Sustainable development is concerned with the welfare of not only present generation but also future generation. It aims at not only satisfying the luxury wants of the upper class i.e. rich but also the basic necessities of the poor like food, sanitation, health care, education etc. The present generation should not exhaust the resources […]

Economics Uncategorized

Water Pollution

Definition: “The introduction (directly or indirectly) of substances or energy into the marine environment (including estuaries) results in deleterious effects to living resources, hazards to human health,hindrance to marine activities. – United Nations, 1971 Types of Water Pollution: i. Surface water pollution: Surface water includes natural water found on the earth’s surface, like rivers,lakes, lagoons […]


Ponniyin Selvan– Azlvar adiyan

Ponniyin Selvan Chapter 2 — Azlvar-adiyan NambiVallavarayan Vandiya Devan rode down the embankment and turned his horse towards the southern path; his heart danced with joy: like those sailboats skipping across the waves. The excitement buried deep in his heart seemed to erupt outward. His intuition said that he was going to meet adventures experienced […]

Economics Uncategorized


Meaning: Pollution is the introduction of contaminants into the natural environment that causes adverse change, in the form of killing of life, toxicity of environment,damage to ecosystem and aesthetics of our surrounding. Types of Pollution: 1. Air pollution 2. Water pollution 3. Noise pollution 4. Land pollution Air Pollution: Definition; “Air pollution is the presence […]

Economics Uncategorized

Environmental Economics

“Environmental problems are really social problems…They begin with the people as the cause and end with people as victims”. –Sir Edmund Hillary Introduction: Environmental economics (EE) is the study of interactions between human economic activity and the natural environment. EE is the subset of economics that is concerned with the efficient allocation of environmental resources. […]

Uncategorized வரலாறு

Proponents of Bhakti Movement

Kabir Kabir is probably the most important cultural figure of medieval India. His iconoclastic poetry which Kabir ridiculed ostentatiousness and ritual, and emphasized the universality of god won many adherents. Little concrete historical evidence is available on his life. He was probably a weaver. Said to be a disciple of Ramananda, he learnt Vedanta philosophy […]

Economics Uncategorized

Fiscal policy

As an instrument of macro-economic policy, fiscal policy has been very popular among modern governments. The growing importance of fiscal policy was due to the Great Depression and the development of ‘New Economics’ by Keynes. Meaning of Fiscal Policy: In common parlance fiscal policy means the budgetary manipulations affecting the macro economic variables –output, employment, […]

Economics Uncategorized

Local Finance

Local finance refers to the finance of local bodies in India. There is a large variety of local bodies in India. We have the following main four local bodies which are functioning today in our country: Types of Local Bodies 1. Village Panchayats 2. District Boards or ZilaParishads 3. Municipalities 4. Municipal Corporations 1. Village […]

Economics Uncategorized

Principles of Federal Finance

In the case of federal system of finance, the following main principles must be applied: 1. Principle of Independence. 2. Principle of Equity. 3. Principle of Uniformity. 4. Principle of Adequacy. 5. Principle of Fiscal Access. 6. Principle of Integration and coordination. 7. Principle of Efficiency. 8. Principle of Administrative Economy. 9. Principle of Accountability. […]

Economics Uncategorized

Federal Finance

Federal finance refers to the system of assigning the source of revenue to the Central as well as State Governments for the efficient discharge of their respective functions i.e. clear-cut division is made regarding the allocation of resources of revenue between the central and state authorities.  Division of Powers: In our Constitution, there is […]

Economics Uncategorized

Budgetary Procedure

Budgetary procedure refers to the system through which the budget is prepared, enacted and executed. (A) Preparation of the Budget: The Ministry of Finance prepares the Central Budget every year. At the state level the finance department is responsible for the Annual State Budget. While preparing the budget, the following factors are taken into account: […]

Economics Uncategorized

Public Debt

In the 18th and 19th centuries, the role of the state was minimum. But since 20th century there has been enormous increase in the responsibilities of the state. Hence state has to supplement the traditional revenue sources with borrowing from individuals,and institutions within and outside the country. The amount of borrowing is huge in the […]

Economics Uncategorized

GST (Goods and Service Tax)

 GST is an Indirect Tax which has replaced many Indirect Taxes in India.The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax in India is a comprehensive, multi-stage, destination-based tax that is levied on every value […]

Economics Uncategorized

Direct Tax and Indirect Tax

Direct Tax: A direct tax is referred to as a tax levied on person’s income and wealth and is paid directly to the government; the burden of such tax cannot be shifted.The tax is progressive in nature. It is levied according to the paying capacity of the person, i.e. the tax is collected more from […]

Economics Uncategorized

Public Revenue

Public revenue occupies an important place in the study of public finance. The Government has to perform several functions for the welfare of the people.They involve substantial amount of public expenditure which can be financed only through public revenue. The amount of public revenue to be raised depends on the necessity of public expenditure and […]

Economics Uncategorized

Public Expenditure

Meaning: Public expenditure refers to Government spending incurred by Central, State and Local governments of a country. Definition: Public expenditure can be defined as, “The expenditure incurred by public authorities like central, state and local governments to satisfy the collective social wants of the people is known as public expenditure”. Classification of public expenditure are […]

Economics Uncategorized

Functions of Modern State

The modern state is a welfare state and not just police state. The state assumes greater roles by creating economic and social overheads, ensuring stability both internally and externally, conserving resources for sustainable development and so on. (i) Defence: The primary function of the Government is to protect the people from external aggression and internal […]

Economics Uncategorized

Public finance and Private finance

Public finance deals with study of income, expenditure, borrowing and financial administration of the government. Private finance is the study of income, expenditure, borrowing and financial administration of individual or private companies. Both public and private finance are fundamentally similar in nature but different from each other on various operational aspects. The similarities and dissimilarities […]