Equilibrium is the state in which market supply and demand balance each other, and prices become stable. Generally, an over-supply of goods or services causes prices to go down, which results in higher demand—while an under-supply or shortage causes prices to go up resulting in less demand. When the quantity demand exceeds the quantity supplied,…
The income tax department has now rolled out new functionality in the Annual Information Statement (AIS) to display the new status information confirmation process. The statement is available to all registered Taxpayers through the compliance portal, accessible through the e-filing website (www.incometax.gov.in). AIS provides details of the following large number of financial transactions undertaken by…
Demand schedules and Demand curves are tools used to summarize the relationship between quantity demanded and price. Demand schedules/ curves relate the prices and quantities demanded assuming other factors remain constant. This is called the ceteris paribus assumption. If you neither need nor want something, you will not buy it. So the demand schedule reflects…
Bank customers can now withdraw cash from ATMs without using physical cards. Even if you do not hold debit cards from your bank, still you can easily use this facility to withdraw money. Multiple banks in India have introduced interoperable cardless cash withdrawal (ICCW) enabled ATMs. The cash withdrawal transaction will be facilitated through a…
We may observe 4 types of economic planning by the Governments of different parts of the world. They are Planning by Direction and Inducement, Physical and Financial Planning, Imperative and Indicative Planning, Fixed & Rolling Plans, and Decentralized and Centralized Planning These economic systems practiced through economic planning can be classified as Traditional Economies, command…
RBI has recently issued two notifications. The first notification is about Margin for Derivative Contracts and the second notification is on an amendment to Master Instructions issued on the maintenance of deposits and accounts under the Foreign Exchange Management Act, 1999. The first Direction dated May 8, 2024, shall apply to Authorised Dealer Category-I (AD…
Economists may define the subject of economics in several ways considering different aspects of the economy. In simple words, economics is fundamentally about managing scarce resources in the most satisfactory manner possible. It includes studying how societies use limited resources to satisfy unlimited wants and needs. Economics is classified into two significant parts: (i) Microeconomics…
Priority sector lending is lending to those sectors of the economy that may not otherwise receive timely and adequate credit. These sectors of the economy are identified by the Government of India and the Reserve Bank of India which consider them as important for the development of the basic needs of the country and are…
(This post elucidates Poverty Alleviation, Jobless growth, Rising Inequalities, Migration and excessive pressure on resources, possible remedies, and Pandemic situations) Poverty has many dimensions, but its causes include unemployment, social exclusion, and the high vulnerability of certain populations to disasters, diseases, and other phenomena that prevent them from being productive. Poverty Alleviation is the set…
The Sustainable Development Goals (SDGs), also known as the Global Goals, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. The Global Goals are a set of 17 commitments made by 193 world…