Economy

“Madam Speaker, I rise to present before this august House the Statement of Estimated Receipts and Expenditure for 2014-15 for Railways. As I stand in this Temple of Democracy, I owe this opportunity to the people of this country who have elected us to represent them and to shape their …

In continuation of the Budget Series, I will be writing about important jargons one should know. GDP is the godfather of economic indicators! You would have heard people mentioning in TV debates or speeches or newspaper articles about India’s falling GDP. The Finance Minister is worried about lower GDP of …

By now all of us are aware that the Finance Minister of India makes a Budget Speech in the Parliament. In this article, I will write about other important documents which are presented to the Parliament apart from his speech. Annual Financial Statement (AFS) is the main Budget document. The …

The government expenditure is divided into two broad heads – Plan and Non Plan. Plan Expenditure – To make it easy, let me draw company analogy again. If a company spends money on purchase of machinery, buys computer and software to improve, expand and enhance the productivity and efficiency of …

Last week I happened to meet a budding entrepreneur. During casual conversation, I asked him about his proposed business. He said “We are in the QSR industry and want to establish Hub and Spoke model with a lean team at the Point of Sale”. Please count the number of jargons …

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 …

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 …

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 …

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 …

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 …