largest democracy with federal form of government. The fiscal arrangements in India have evolved in a quasi-federal system to meet the requirements of centralized planning in a mixed economy structure and their sources of revenue for both Centre and State were clearly demarcated with regard to the financial relationship and the responsibilities between them. Our constitution provides residual powers to the Centre and makes clear division of fiscal powers between the Centre and the State Governments
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financial year‚ the budget (2009-10) has a fiscal deficit of 6.8 per cent of the GDP (and this does not include the fiscal deficit of the states). The fiscal deficit will be financed mainly by market borrowings of nearly Rs.400‚000 cr. There have been concerns about the high fiscal deficit. The IMF‚ while praising India’s ability to face the global crisis‚ has warned that India’s debt as a percentage of GDP was too high and‚ therefore‚ a sharp rise in the deficit could raise concerns about fiscal sustainability
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Background Americas debt has been growing dramatically for years. The result of this tremendous growth is making the U.S. be dependent on foreign countries‚ like China‚ and is making our country’s credit rating lower with a result such as the value of bonds. These bonds are used to finance government operations and increase interest rates. The challenge is this: to balance the budget in a way that helps economic recovery and restructures government expenditures. Towards the end of Clintons
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fundamental goal of contributing to the community rather then generating financial gain”. (KELLY & MCGOWAN 2012). Nonprofits are in the business of doing good. The may or may not earn a profit. Any profit earned must roll over the next fiscal year. The definition of fiscal policy is government’s revenue (taxation) and spending policy designed to (1) counter economic cycles in order to achieve lower unemployment‚ (2) achieve low or no inflation‚ and (3) achieve sustained but controlled economic growth
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ever wondered why teachers take a whole month to review everything from the previous year or why students tend to forget everything? Every year‚ students are keeping their calendars at hand and counting down the days until summer vacation. It’s the last day of school and when the final bell rings‚ kids are ready to do nothing for three months. However‚ is this really a good thing? The possibility of having year-round schools is at hot debate topic right now and it is time for change from traditional
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Fiscal Deficit-Economic Growth Nexus in India: A Cointegration analysis Ranjan Kumar Mohanty1 Abstract The basic aim of the study is to examine both the short run and long run relationship between fiscal deficit and economic growth in India by covering the time period from 1970-71 to 201112. Johansen Cointegration test‚ Granger Causality test‚ And Vector Error correction Model (VECM) technique are adopted in order to examine the objectives of this study. The Johansen methodology confirms the existence
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Journal of Public Economics 74 (1999) 171–190 www.elsevier.nl / locate / econbase Fiscal policy and growth: evidence from OECD countries Richard Kneller a ‚ Michael F. Bleaney b ‚ *‚ Norman Gemmell b a b National Institute for Economic and Social Research‚ London‚ UK School of Economics‚ University of Nottingham‚ Nottingham‚ UK Received 1 October 1998; received in revised form 1 December 1998; accepted 1 December 1998 Abstract Is the evidence consistent with the predictions of endogenous
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MP A R Munich Personal RePEc Archive Natural hazards and disaster management in Pakistan Himayatullah Khan and Abuturab Khan 12. October 2008 Online at http://mpra.ub.uni-muenchen.de/11052/ MPRA Paper No. 11052‚ posted 12. October 2008 23:59 UTC Natural hazards and disaster management in Pakistan Himayatullah Khan Professor‚ Department of Development Studies COMSATS Institute of Information Technology‚ Abbottabad and Institute of Development Studies NWFP Agricultural University‚ Peshawar
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before the United States faced the economic bubble in 2006 that has affected many parts of the United States housing market‚ the Japan already undergone such situation and they manage to overcome it although it went on for so many years. During the 1990s and into the early years of the 21st century‚ Japan experienced prolonged recessionary economic conditions triggered by the bursting of a bubble in its equity and real estate markets and an ensuing banking crisis. (Nanto‚ 2009) Japan experience now has
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in One Hundred Years of Solitude The word “exile” is rarely brought to mind in today’s busy society. With the current technological advances‚ there are few people in the world living in complete solitude. A modern man may wonder “Why would a person want to live in isolation?” As outlandish the concept sounds‚ it can be a stirring experience that exposes one’s great potential. Gabriel García Márquez attempts to illustrate perspective of solitude with the Buendías in One Hundred Years of Solitude.
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