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Five Year Plans of India: 15 important facts

2 days ago
The first five year plan of India was launched in the 1951 and so far 12 five year plans have been implemented in the country. Present NDA government has decided to stop formation of new five year plan further. This article is explaining 15 interesting facts about these all five year plans.

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List of all Five Year Plans of India

Feb 20, 2018
The concept of economic planning in India is derived from the Russia (then USSR). India has launched 12 five year plans so far. First five year plan was launched in 1951. Now the present NDA government has stopped the formation of five year plan. So 12th five year plan would be called the last five year plan of India.

What are the differences between Wholesale Price Index & Consumer Price Index?

Feb 6, 2018
Wholesale Price Index (WPI) and Consumer Price Index (CPI) are two widely used indexes to calculate the inflation in the country. India uses WPI index to calculate the inflation while most of the countries use CPI for the same. This article is pointing some basic differences between the WPI & CPI.

Economic Survey Report 2017-18: Key Facts

Feb 3, 2018
Finance Minister Arun Jaitley presented Economic Survey 2017-18 in both Houses of Parliament on January 29, 2018. The Economic Survey shows the condition of different sectors of the Indian economy. Through this survey, the economic condition of the country can be assessed properly. This survey is sought after by so many individuals and institutions like; students, policy makers, research scholars, IMF, World Bank, foreign governments and foreign investors etc.

General Anti Avoidance Rules (GAAR): Principles, implications and its Procedure

Feb 1, 2018
GAAR (General Anti-Avoidance Rules) is a tool for checking aggressive tax planning especially that transaction or business arrangement which is/are entered into with the objective of avoiding tax. It has been introduced in India due to VODAFONE case ruling in favour of this company by the Supreme Court. For example: “A” makes a company XYZ to sell product C. The company B pays 35% tax, but if “A” himself sold the products he would pay 40% tax. “A” has formed the company only to save 5% tax.

Is inflation always bad for the economy

Jan 31, 2018
A simple definition of the inflation is the constant rise in the price of goods and services. More often inflation is considered bad for any economy but this is just half truth. The positive and negative impacts of inflation on the economy depend on the rate of the inflation. Moderate inflation is good for the growth of the economy while hyperinflation is injurious for it.

What are the differences between FERA and FEMA?

Jan 24, 2018
The Foreign Exchange Regulation Act (FERA) was passed in 1973; the main purpose of which was to ensure the use of foreign exchange. The FERA was creating obstacles in the development of the country so government replaced it by FEMA in 1999.This article is pointing the differences between the FERA and FEMA.

What is the cost of printing 200, 500 and 2000 rupees notes in India?

Jan 2, 2018
In India, printing of new notes is the solely right of the Reserve Bank of India (RBI).RBI prints currency notes of all denomination except one rupee note. In its annual report, the Reserve Bank has stated that the cost of printing a note of 200 rupees is Rs.2.93, printing cost of 500 rupee note is Rs. 2.94 and printing of a 2000 rupee note costs Rs.3.54.

Why size of the coins is decreasing in India

Dec 18, 2017
In India, the Finance Ministry is responsible for the minting of coins and printing of one rupee notes. The Finance Ministry is reducing the size of the coins every year, but do you know the reason behind this step. The Government of India tries that the metallic value of any coin should remain less than its face value, because if the metallic value of the coins becomes more than the face value then the people will melt the coin and sale the metal in the open market.

How to change Soiled and mutilated Bank Notes as per RBI rules

Dec 13, 2017
If you have old and soiled Notes, then you can change these Notes by going to any commercial bank. The most convenient thing is that customer need not to have any account with the bank in which he is going to change the Notes. No bank can refuse to change your old and soiled old Notes because of the rules of the Reserve Bank of India (RBI).

What is the Sensex and how is it calculated

Dec 11, 2017
The Sensex measures the stock prices of 30 listed companies of the Bombay Stock Exchange. If the Sensex rises up, then it shows that the stock price of most companies of "Bombay Stock Exchange" (BSE) has increased and if the Sensex decreases; it shows that the stock price of most companies of BSE has dropped down. The main reason for the ups and downs in the Sensex is the fluctuations in the prices of these 30 companies.

What is the importance of Chabahar Port for India

Dec 4, 2017
China is trying to surround India with the help of projects like "Strings of Perils" .To counter Chinese threats India has signed a $20 billion (about $ 1,363 billion) deal with Iran to develop "Chabahar port" in Iran in 2015. This is a trilateral agreement which includes Afghanistan and India along with Iran.

How currency and coins are circulated in the Indian economy by the RBI

Dec 1, 2017
The establishment of Currency Chests or "currency vault" has been done by the RBI to smoothly circulate the banknotes in the economy. To open a Currency Chest, the RBI authorizes the selected branches of commercial banks. Bank notes are stored by RBI in these Currency Chests. Currency Chest supplies banknotes to other branches of commercial banks situated in the nearby area.

The History of the Indian Currency Notes and its Evolution

Nov 30, 2017
The origin of the word “Rupee” is from Sanskrit word Rupya which means shaped, stamped, impressed, coin and also from the Sanskrit word “raupya” which means silver. There was a long history of struggle, exploration and wealth which can be traced back to the ancient India of the 6th Century BC regarding rupee. The Paper Currency Act of 1861 gave the Government the monopoly of note issued throughout the vast expanse of British India.

What is Corporate Social Responsibility and how much money is spent on it in India

Nov 27, 2017
Corporate Social Responsibility refers to responsibility of the companies to upgrade the well being of the weaker sections of the society by spending a sum of their profit on CSR activities. As per CSR rule, companies which have annual net worth of Rs. 500crore or annual income of Rs.1000 crore or an annual profit of Rs.5 crore, it is necessary for them to spend at least 2% of the average profit of three years on the CSR activities.

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