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Urjit Patel resigns as RBI governor

Urjit Patel resigns as RBI governor

Well known economist and Reserve Bank of India (RBI) Governor Urjit Patel resigned today (December 10, 2018).  He said that he has decided to “step down” from his current position effective immediately “on account of personal reasons”. The governor’s decision to resign came five days after the bi-monthly policy meeting, in

Krishnamurthy Subramanian: The New Chief Economic Advisor to Govt. of India

Krishnamurthy Subramanian: The New Chief Economic Advisor to Govt. of India

The Appointments Committee of the Cabinet (ACC) has approved for the appointment of Dr Krishnamurthy Subramanian, Associate Prof. and ED (CAF), ISB, Hyderabad, to the post of Chief Economic Adviser," said a government notification. Subsequently, the government appointed ISB Hyderabad professor Krishnamurthy Subramanian as Chief Economic Adviser for a period

Bimonthly RBI Monetary Policy June 2018

Shekhar Sengar Bimonthly RBI Monetary Policy June 2018 The Monetary Policy is reviewed by Monetary Policy Committee (MPC) of the Reserve Bank of India. This time RBI governor Urjit Patel headed the six member NPC. This was the first three-day bi-monthly policy meeting (June 06)  of MPC headed by Urjit Patel. The

Unemployment: Measurement in India

A person who is in the age group of working population (15-60 years), is called unemployed if s/he does not get work, despite offering himself in the labour market for work on existing wage rate. There are various sub categories of unemployed people such as underemployed, seasonally unemployed and disguisedly

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

Allocation to  the most important budget schemes in Union Budget 2018-19

In the Union Budget Estimate 2018-19, most schemes have been bolstered, but some have been cut. Pradhan Mantri Krishi Sinchai Yojna INCREASED Revised Estimate, 2017-18 Budget Estimate, 2018-19 Change Rs 7,392 crore Rs 9,429 crore 27.56% Pradhan Mantri Gram Sadak Yojna INCREASED Revised Estimate, 2017-18 Budget Estimate, 2018-19 Change Rs 16,900 crore Rs 19,000 crore 12.43% Aimed at providing all weather road connectivity in rural areas of

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