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Reality about unemployment in India

Reality about unemployment in India

India, according to Census 2011, estimates its workforce at 402 million. According to the labour ministry, as of 2016, India’s labour market comprises more than 475 million people. Of this, it is estimated that less than 10% are in formal employment.The inability to create formal economy jobs haunted the United

Business Cycle, boom, bust, inflation and recession

business cycle

The primary goals of both fiscal policy and monetary policy are “growth” and “price stability.” Although growth in modern economies is understood to be the main concern of the fiscal policy, price stability is considered as the main concern of the monetary policy. Nevertheless, growth is not totally detached from

Public Finance, Taxes and Fiscal Policy

Public Finance studies the finances of the government, i.e., government’s receipts (revenue receipts and capital receipts) and government’s expenditure (revenue expenditure and capital expenditure). Government’s revenue is called Public Revenue and government’s expenditure is called Public Expenditure. The classical theory and practice of economics were based on “Laissez Faire” or

Understanding Economics and Economic Systems

Definition of Economics According to Adam Smith “Economics” is the science of wealth. However, this definition was a little too materialistic as wealth can be a means to an end; it cannot be an end in itself. The welfare definition of economics was attempted by Alfred Marshall, a pioneer neoclassical economist, to redefine his field

Rape culture

Rape Culture

“A slut is someone, usually a woman, who’s stepped outside of the very narrow lane that good girls are supposed to stay within. Sluts are loud. We’re messy. We don’t behave. In fact, the original definition of “slut” meant “untidy woman.” But since we live in a world that relies

US-China trade war: Beijing hits back

China announced its first retaliation on March 23 against Donald Trump’s trade measures – levying a high tariff on steel and Aluminium (25 per cent and 10 percent respectively) and fresh tariffs on $50 billion of Chinese imports with indications of more protectionist measures in the future. The Chinese retaliation

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