WBPSC Prelims and Mains Notes-WBPSC Test Series
Indian Public Finance Value Added Tax Under the constitution the States have the exclusive power to tax sales and purchases of goods other than newspapers There are however defects of sales tax It is regressive in nature. Families with low income a larger proportion of their income as sales tax. Has a cascading effect – … Read more
Role of Commercial Banks A Commercial bank is a type of financial institution that provides services such as accepting deposits, making business loans, and offering basic investment products There is acute shortage of capital. People lack initiative and enterprise. Means of transport are undeveloped. Industry is depressed. The commercial banks help in overcoming these obstacles and promoting … Read more
Subsidies- Cash Transfer of Subsidy Issue. A subsidy is a benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy is usually given to remove some type of burden and is often considered to be in the interest of the public. Direct Cash … Read more
Dadabhai Naoroji: ‘Poverty in India’ (1876) He claimed that the drain of wealth and capital from the country which started after 1757 was responsible for absence of development in India. Drain was done through trade, industry and finance Two elements of the drain That arising from the remittances by European officials of their savings, … Read more
Rainfall: With an average annual rainfall of 1,170 mm, India is one of the wettest countries in the world. At one extreme are areas like Cherrapunji, in the northeast, which is drenched each year with 11,000 mm of rainfall, and at the other extreme are places like Jaisalmer, in the west, which receives barely … Read more
Millenium Development Goals 1. Eradicate extreme poverty and hunger 2. Achieve universal primary education 3. Promote gender equality and empower women 4. Reduce child mortality 5. Improve maternal health 6. Combat HIV/AIDS, malaria, and other diseases 7. Ensure environmental sustainability 8. Develop a global partnership for development
Components of Money Supply M1 Consists of currency with the public (ie notes & coins in circulation minus cash with the banks) plus demand deposits with the bank (deposits which can be withdrawn without notice) plus other deposits with RBI (usually negligible). Also called narrow money M2 M1 + saving … Read more
Public Finance Public finance is the study of the role of the government in the economy. It is the branch of economics which assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. It includes the study of … Read more
Commissions/Committees & Their Purpose Arjun Sen Gupta Public Sector Enterprise Autonomy Committee Rangarajan Committee Disinvestment of PSUs & Balance of Payments. Malhotra Committee Insurance Sector & its regulation. Follow up led to setting up of IRDA. Madhukar Committee Gold exchange traded fund implementation. L.C. Gupta Committee … Read more
Four Modes of Services under GATT Mode 1 Cross border trade, which is defined as delivery of a service from the territory of one country into the territory of other country; Mode 2 Consumption abroad – this mode covers supply of a service of one country to the service consumer of any … Read more