As per the announcement of the Labour Bureau of the Government today (31.07.2019), the average index numbers for April 2019 to June 2019 works out to 7167. It means bank staff will get 36 slabs to increase in DA for the ensuing quarter July 2019 to October 2019. The following chart shows the rate of…
The Consumer Protection Bill, 2019 was passed in Lok Sabha on Tuesday July 30, 2019. The Bill proposes setting up of the Consumer Disputes Redressal Commission (CCPA) and forums at the District, State and National levels for adjudicating consumer complaints. The above Bill once becomes law (after passing in Rajya Sabha and President of India’s…
Economic growth is an increase in the production of economic goods and services per head of the population over a specific period. It can be measured in nominal or real (adjusted for inflation) terms to be more accurate. Economists and statisticians use different methods such as Gross national product (GNP) and Gross Domestic Product (GDP)…
In the macroeconomic sense, an expansionary monetary policy is a form of monetary policy used by central banks that aims to surge the rate of monetary expansion to stimulate growth during a recession or in anticipation of a recession. When interest rates are already high, the central bank focuses on increasing the money supply and…
Open market operations (OMO) refer to buying and selling of government securities and treasury bills in the open market by the central bank of the country in order to expand or contract the amount of money in the banking system. The primary aim of open market operations is to regulate the money supply in the…
The inflation rate of an economy can be easily calculated by using the following formula: [CPI(c)-CPI (p) ÷ CPI (p)]×100 Where; CPI(c) is the consumer price index of the current year CPI (p) is the consumer price index of the previous year or initial consumer index For example, the CPI of the previous year was…
In the economic dialect, inflation refers to the increase of the price level of commodities due to an increase in the quantity of money supply. During the period of inflation, the growth of money supply is faster than the level of productivity in the economy. On the other hand the term ‘deflation’ is used to…
The Union Budget for the financial year 2019-20 was presented by finance minister Smt. Nirmala Sitharaman in Parliament on Friday July 5, 2019. The major impact on budget 2019 proposal on common man is as follows. Individual tax payers with income up to Rs.5 lakh taxable income will get full tax rebate after permissible deductions…
An individual require filing income tax return, if his/her gross total income exceeds the basic exemption limit of income of Rs.2.5 lakh before permissible deductions under Sections 80C to 80U. The people with gross total income below exempted limit of Rs.2.5 lakh or Senior citizen of above 60 years and below 80 years with gross…
Banks & Financial Institutions are generally free to determine the lending rates on loans and advances. The method to arrive at Lending Rate has changed drastically over the last decade. The Lending Rate like BPLR, Base Rate, and MCLR internal benchmark rates are used by individual banks to determine the interest rates on their credits.…