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  • Cess: Meaning and Types in India

    CESS is tax on tax and usually levied for the specific purposes. Once its purpose is solved they are stopped. Unlike the other taxes that have to be shared with other Indian states, the centre keeps the entire amount raised from the Cess. The collection through the CESS is kept in the Consolidated Fund of India. As of now there are 6 types of Cess imposed in India.

    22 hrs ago
  • India vs. Pakistan: Economic Comparision 2018

    As of now the size of India Economy has become $2088 billion which tagged it as the 7th largest economy in the whole world. On the other hand, the size of Pakistan's economy is about $273 billion. So, India's GDP is almost 7 times larger than Pakistan's economy.

    2 days ago
  • Smart City Project: Detailed Information at a Glance

    The Smart Cities Mission (SCM) is a holistic city programme to build 100 cities in India. It was launched on June 25, 2015 by the Prime Minister Narendra Modi. The prime objective of this Smart Cities Mission is to promote cities to upgrade infrastructure and provide better basic facilities to the citizens of the country.

    Feb 14, 2019
  • List of Centrally Sponsored Scheme and Expenditure on them?

    The schemes run by the Central Government are divided into 3 categories. These categories are ‘Core of core schemes’, Core schemes and major Central Sector Schemes. There are around 6 schemes in the list of ‘Core of core Schemes’ and 28 schemes in the Core Sectors. Core of Core Schemes are fully funded by the Central government.

    Feb 12, 2019
  • Functions of Enforcement Directorate

    The Enforcement Directorate was established in the year 1956. Its Headquarters is situated at New Delhi. ED is responsible for enforcement of the Foreign Exchange Management Act, 1999 (FEMA) and certain provisions under the Prevention of Money Laundering Act (PMLA).

    Feb 11, 2019
  • What is Money Laundering and how is it done?

    Money Laundering refers to converting illegal earned money into legitimate money. So Money Laundering is a way to hide the illegally acquired money. The government does not get any tax on the money earned through money laundering, because the government does not have any accounting for this money.

    Feb 8, 2019
  • What is Chit Fund and how does it work?

    Chit fund is defined as per the Section 2(b) of the Chit Fund Act, 1982. According to this act; A chit fund is a type of rotating savings and agreement among different persons i.e. friends, relatives, neighbours and family members to subscribe a certain sum of money for a specified period of time. Chit funds are often microfinance organizations. Chit Funds are also known as the Chitty, Kuree, chit.

    Feb 7, 2019
  • Union Budget of India: Definition and different types

    ‘Budget’ is a systematic list of items of revenue and expenditure of the government of a defined duration or we can say it’s a plan for the income and expenditure of the government for the present, past and future financial years.

    Jan 31, 2019
  • What is Cow Cess and which Indian States impose it?

    Some states in the country have decided to levy 'Cow Cess' in order to arrange the fund for care of the stray animals. The tax rate varies from state to state and ranges from 2% to 20%. This tax is mainly levied on luxury goods and services so that it does not affect the poor people. In this article we are publishing the information on the cow cess.

    Jan 15, 2019
  • List of all Five Year Plans of India

    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.

    Jan 2, 2019
  • Why is US Dollar considered as most strong Currency of the World?

    In today’s world around 80% world trade take place in dollars. About 39% of the world's loans are given in US dollars and 65% dollar supply is used outside of the United States. It is surprising to see that most trading countries of the world accept payment in dollar. That's why foreign banks and countries demand dollar for international trade. Let us know through this article that why dollar is known as the strongest currency in the world?

    Dec 20, 2018
  • How can you verify your fake GST bill

    The Indian government has decided to implement the Goods and Services Tax (GST) in the entire country from July 1, 2017. So all the restaurants which have registered themselves with the government of India and do not have air conditioner (AC) will have to pay GST at the rate of 12% and those restaurants which have air conditioner in their premises will have to pay GST at the rate of 18%.

    Dec 14, 2018
  • Why is India Constructing Strategic Petroleum Reserves?

    To ensure energy security for the country, India is making strategic petroleum reserves to store crude oil under the ground. These rocky caves are man-made. India has already underground caves of 5.33 MMT storage in three places. These include Visakhapatnam (1.33 MMT), Mangalore (1.5 MMT) and Padur (2.5 MMT).

    Dec 5, 2018
  • List of 111 National Waterways in India

    The Haldia-Varanasi National Waterway-1 has been made operational on 12 November,2018 by the PM Modi. The government of India has declared 111 waterways as National Waterways (NWs) in the country. National Waterways are the cheapest mode of transporting goods as compared to other ways of freight transportation. The cost of transportation through waterways is around 1.06 Rs. per Tonne Kilometre while Rs.2.5 per Tonne Kilometre through highway.

    Nov 26, 2018
  • Interesting facts about Income Inequality in India in 2018

    In this article we are publishing 15 interesting facts from the Oxfam India Report 2018. This report says that the income disparity is increasing in India very rapidly. On the one hand we had 101 billionaires out of 2,043 dollar billionaires worldwide but on the other hand we had world’s second highest number of people living in extreme poverty, which is defined as living on less than $1.90 a day.

    Oct 22, 2018