Background on Shaktikanta Das Is an IAS officer. Became Revenue Secretary in June 2014. A revenue secretary looks over the collection of direct taxes (income tax) and indirect taxes (VAT, service tax, etc. previously, now GST). Was Revenue Secretary till 2015. He has a great knowledge regarding taxation and tax in the economy. Was the … Continue reading Meet our New RBI Governor – Mr. Shaktikanta Das
WHAT IS GDP? Gross domestic product (GDP) is the value of all final goods and services produced within a country in each year, i.e. the geographic area of the country. Let us break this sentence and explain each term in detail. The measurement of GDP involves counting the production of millions of different goods and … Continue reading What is GDP & How it is Calculated?
Repo Rate & Reverse Repo: - Known as the rate at which RBI lends money to the banks. Remains Unchanged at 6.5%, status quo maintained. Reverse Repo Rate, known as the rate at which banks lend money to RBI, when the banks have surplus. 0.25% less than the Repo rate, which is 6.25% This decision … Continue reading RBI Policy Highlights – 5th Dec 2018
There are two kinds of markets where borrowing and lending of money takes place between fund scarce and fund surplus individuals and groups. The markets catering the need of short term funds are called Money Markets while the markets that cater to the need of long term funds are called Debt Markets. The term ‘Money Market’, … Continue reading Money Market in India
Economic Growth can be defined as a positive change in the level of goods and services produced by a country over a certain period of time. Following are some of the factors which can promote economic growth:-