Category Archives: Economics and Business

Summary of Fourteenth Finance Commission report

  The 14th Finance Commission report has been accepted by the center, and it has recommended that the Center transfer 42% of divisible pool to the states. You can Download Complete Report in…

Nominal and Real Effective Exchange Rate: Explained

  Nominal exchange rate is the price of one currency in terms of number of units of some other currency. This is determined by fiat in a fixed rate regime…

Bibek Debroy Committee : Important Recommendations

  The Bibek Debroy Committee in its report on the Indian Railways recommends sweeping changes in the way the ailing organisation runs. Some of them are: 1) Transition to commercial…

Greece Debt Crisis: Explained

    How did Greece get to this point? Greece became the epicenter of Europe’s debt crisis after Wall Street imploded in 2008. With global financial markets still reeling, Greece…

Amendments proposed to Child Labour Act : Decoded

  The cabinet has recently approved amendments to the Child Labour (Prohibition and Regulation) Act, 1986. The Act prohibits the engagement of children in certain types of occupations and regulates…

Mines and Minerals Amendment Bill : Explained

  The Mines and Minerals (Development and Regulation)  Amendment Ordinance, 2015 was promulgated on January 12, 2015. The Ordinance amends the Mines and  Minerals (Development and Regulation) Act, 1957. This earlier act regulates…

OIL Production : Production sharing VS Revenue sharing

  Explained By: Suchak Patel   Production sharing:- Mechanism :- Investment company will invest all capital and take huge risks. Profit margin is also larger. Once, resources are found and…

Reserve Bank of India: Functions and Responsibilities

  By: Mohit Diwan   The central bank of our country is the Reserve Bank of India (RBI). It was established in 1935 (by the RBI Act, 1934) on the…

Tax Administration Reform Commission’s 2nd Report: Summary

  The Tax Administration Reform Commission or TARC is committee appointed by the Government of India for giving recommendations for reviewing the public Tax Administration system of India. After submitting its first Report in…

G20: the Main Outcomes

  Economic growth: The leaders of the world’s most powerful industrial economies pledged to grow their combined economic output by an extra 2.1% – around $2 trillion – over the next…