Category: Budget

Short Essay on the Budgets – Over the decades the Budget has been the most important, sensational economic event of the year in India. It is a multidimensional document that affects the lives of all citizens.Economic health of a country depends upon the economic policies it follows and the way it allocates its resources to secure its socio-economic objectives. Budget is a part of what might be called ‘economic planning’.The term ‘Budget’ comes from the French word “bongette”, meaning ‘a small bag’. In general parlance budget is an annual financial statement presented by the Ministry of Finance in the Parliament every year with full details of the proposed financial activities of the government for the year ahead. Image Source: usercontent1.hubimg.com ADVERTISEMENTS: The budget covers revenue, expenditure and debt and puts…

India has waged four wars with Pakistan. The first was in 1947-48, the second in 1965, the third in 1971 and the fourth was the Kargil war in 1999. None of the wars were prolonged wars. The first two wars were over Kashmir. The 1947 war was fought within the borders of Jammu and Kashmir. The Indian army, paramilitary and the forces of former princely states fought the forces of Azad Kashmir as the Pak side called itself. After Kashmir acceded to India, Indian troops were airlifted to Kashmir. Light tanks and armored cars were used to good effect. Ceasefire was declared on 31 December, 1948. The 1965 war was inconclusive in a military sense. Both sides held prisoners and territory belonging to each other. The war began on August…

Indian Railways is the biggest Government institution of India which gives more than 17 Lakh people employment. Indian Railways is the biggest railway system of Asia and the second biggest railway system of the world. In India the first train was run between Mumbai and Thane. Lord Dalhousie was the Governor General of India at that time the train was running by coal Railway Engine. The Britishers started the railway system to exploit the resources of India and carry the raw material from different ports of India to the ports for export the material to England and when the manufactured goods came to the ports from England then disbursed these goods all over the country within a very short time. ADVERTISEMENTS: During the freedom struggle the freedom fighters apposed the…

Today, in this ultra modern world, the role of media and particularly of print media has been augmenting day by day. It has been serving as a vigilant watchdog of India. Print Media has created awareness among the people regarding their rights and duties. Print Media has created awareness among the people regarding their rights and duties. Print Media has been nicknamed as ‘News Monger’ or the fourth Estate. We can update ourselves just by going through the morning news paper, getting each and every kind of news form every nook and corner of the world. It is due to the effect of the Print media that people associated with robberies, thefts, murder, rapes, drugs and alcoholism are working in an apprehension of being caught and recognized. They are now…

Various Heads of the Moderate Programmes during the Early Phase (1885-1905) are described below:Before the formation of Indian National Congress, many Indians were planning to form All India Organisation of Nationalist Political Workers. But it was A.O. Huma, a retired English Civil Servant, who gave the final and concert shape to the idea. yt3.ggpht.com ADVERTISEMENTS: He got in touch with important Indian leaders and organised with their cooperation the first session of the Indian National Congress at Bombay in December, 1885. It was presided over by W.C. Banerjee and was attended by 72 delegates. The main of the Congress were:-1. Promotion of friendly relation among the Nationalist Political Workers.2. Development of national unity irrespective of caste, religion and province.3. Preparation and presentation of popular demands before the Government. ADVERTISEMENTS: 4.…

The collapse of the Mughal authority and inroads of Ahmad Shah Abdali had created political convulsion in Punjab. Ahmad Shah Abdali only collected revenue but did not exercise any political control over the area so the province became a no-mans land.These political conditions were conducive to rise to the power of Sikh misls under Sikh Chieftains which had extensive territories in Punjab. At the time of Ranjit Singh’s birth on 13 November, 1780, the greater part of Punjab plains was divided among twelve Sikh misls or associations of warriors.Ranjit Singh‘s father was leader of one of these misls but died in 1790, his ambitious and enterprising son inspired by the ambition of bringing all the Sikh units under his personal sway. Ranjit Singh achieved great success but was confronted with…

There is an old saying “A fool and his money are easily parted”. This saying is indeed true. Earning money is a bit difficult and it does involve hard work but retaining the money that one has earned and maintaining the constant flow of that money is far more difficult.For instance, any individual might earn a billion of dollars through a lottery and a jackpot. Instead of using the money wisely like starting a new business or investing in valuable things such as property or jewelry with the help of the money, individuals waste the money by going for expensive trips and buying fancy clothes. Instead, they should invest money in a way that they get returns out of the money instead of spending it lavishly on useless items.Spending money…

Forests are important regulators of ecosystems. They exert significant effects on the water budget and the hydrological cycle.In areas of heavy rainfall, a large fraction of the rain is intercepted by the tree crowns and other forest plants. This water evaporates quickly and returns to the hydrological cycle. Some of the water reaching the forest floor pene­trates into the soil through the litter and the loose soil surface, and there is little surface run-off. It is only after some period of time that the seeped water reaches the streams and rivers.This time lag is an important device to regulate the water discharge into rivers, and in this way, flooding is prevented or minimized. On the other hand, in dry periods also the forest soil continues to supply water slowly to…

Merits and Demerits of Indirect Taxes are explained below: Merits of Indirect Taxes: 1. Indirect taxes have a great merit of convenience. They are paid in small amounts and at intervals instead of in one lump-sum.2. The burden of an indirect tax is less felt as it is hidden in the price of the commodity. ADVERTISEMENTS: 3. Indirect taxes can be elastic if they are imposed on articles having inelastic demand.4. Indirect taxes have a wide area of functioning. It makes the tax system broad based as they are paid by all classes of people. Demerits of Indirect Taxes: 1. The main demerit of indirect tax is that they are often inequitable. If imposed on commodities of common consumption, the burden of taxation on the poorer section may be heavy.…

The Parliamentary form of government depends on principles and practices wherein the President is the formal executive and council of minister headed by the Prime Minister is the real executive.All the actions of government are undertaken in the name of President but only on the advice of ministers chosen by him.According to Article 53 of the Constitution “executive powers of the Union shall be vested in the hands of the President who shall exercise it either directly or through officers subordinate to him in accordance with the provisions of the Constitution.” Image Source: img.niticentral.com ADVERTISEMENTS: The powers of the President can be broadly categorized as: 1. Executive Power: All executive actions are taken in his name. He has power to appoint the Prime Minister, other ministers of the Government of…