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Economy

Economy-related news, Articles, informations

Basics of Budget III – who maintains Government accounts?

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For your company, you will have Finance & Accounts (F&A) department. For Government of India (GOI), who will look after the accounts? Controller General of Accounts maintains the accounts of the GOI. It is headed by a Chief Controller of Accounts (CCA). The Principal Accounts Officers (PAO) at head office ...

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Union Budget Part II – Interim Budget

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Mr. P Chidambaram presented an Interim Union budget for the Financial Year 2014-15 on 17th Feb, 2014. When UPA Government’s term was up to May, 2014, why didn’t they present a regular budget? By the way, what is Interim budget? Let me compare this to a Marketing Manager in an ...

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Basics of budget Part I

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The word Budget is derived from French, which means purse.  What is budget? It is an estimate of income and expenditure for a set period of time. If you do it for yourself (estimating your income and expenditure) it can be called as ‘Personal budget’ and if it done for ...

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Why Railway budget is presented separately?

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Yesterday I had posted my wish list for the Union budget. Today I am writing about my wish list for the Railway budget. I wish this is the last railway budget presented in India! I wish railway budget concept itself is scrapped. Dear PM, as you have merged ministries, please ...

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The tail end of Black Money tale

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How much is it? ‘Rs.14,000 Crores’; that’s all? But many ‘experts’ were estimating the money stashed at Swiss bank at around Rs.1,00,000 Cr. Some of them have estimated it to be Rs.25,00,000 Cr. I saw a document released a year before about Black Money (BM) and there the expert researchers ...

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Union Budget – my wish list

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Financial Times, Business News channels and even my mailbox is filled with mails from several experts, industry leaders, industrial bodies, farmers associations etc. Taxpayers wish that taxes are lowered; farmers wish that agricultural Minimum Support Price (MSP) is increased, Vodafone wants ‘retrospective amendments stopped’ and so on. Therefore I am ...

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How Iraq crisis will impact Indian Economy

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Look at our fate! A government with full majority is at the Centre, led by an aggressive Prime Minister. The Prime Minister wants to give water to electricity, good roads to speed rails, kinder gardens to garden variety of Universities and what not to the people of this country.But where ...

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Back to square one

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Everyone knows its meaning; back to square one means you have to start working on a plan from the beginning again and the progress you made till now is wasted. I understand that the first time this phrase was used in print media was in 1952. Maybe this phrase is ...

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