Government budgeting

September 19, 2016

Types of Grants-in-aid in Indian Constitution

Apart from distribution of taxes between centre and states, the constitution provides for mainly two types of grants-in-aid viz. statutory grants and discretionary grants: Statutory Grants Article 275 makes provisions for statutory grants to needy states {not every state}. These…

September 19, 2016

Distribution of Tax Revenues: Constitutional Provisions

Article 268 to 281 in the constitution of India deal with the distribution of tax revenues. These articles have been amended from time to time, for example 88th amendment provided for service tax via article 268-A. Some articles have been…

December 2, 2015

FRBM Act 2003

In 1980s, India saw a sharp deterioration of the fiscal situation, which ultimately culminated in the balance of payments crisis of 1991. Within a decade of economic liberalisation, the fiscal deficit and debt situation again seemed to head towards unsustainable…

November 19, 2015

Components of Revenue Expenditure

While the Revenue Receipts are those incomes of the Government which don’t create additional liability, the Revenue Expenditures are those expenditures which don’t create any productive assets. The money in these expenditures goes either in running administration / operation of…

funds-rupees

Drafting the Indian Financial Code

India’s financial market is deepening with the global inter-connectedness and growing complexity in the economy. In such circumstances consumer at times become vulnerable to exploitation by the market forces. In an environment of ill-information and institutionalized mis-selling, consumers do not…

organic-farming

Paramparagat Krishi Vikas Yojana

Paramparagat Krishi Vikas Yojana (Traditional Farming Improvement Programme) has been launched by Government of India to support and promote organic farming and thereby improving soil health. This will encourage farmers to adopt eco-friendly concept of cultivation and reduce their dependence…

indian-railway

A Modest Rail Budget

Better passenger amenities, safer rail travel, modernization, capacity addition and financial self-sustainability are the goals outlined in the Railway Budget 2015. Preparing budget focusing on building infrastructure, passenger services and capacity within the limited resources is surely an uphill task.…