India’s Balance of Payment’s Balance of Payment Account Bop is the oldest and the most important statistical statement for any country. In a nutshell BOP of a country is “a systematic record of all economic transactions between the residents of one country with the residents of the other country in a financial year”. Economic Transactions… Continue reading India’s Balance of Payments: Current Account, Capital Account, Goods and Services Account

Separation of power in the USA The United States Constitution has a more rigid separation of powers than the Constitutions of other democracies. In the United States Constitution, Article 1 Section I gives Congress only those “legislative powers herein granted” and proceeds to list those permissible actions in Article I Section 8, while Section 9… Continue reading Separation of power in other countries

The debate about the doctrine of separation of powers, and exactly what it involves in regard to Indian governance, is as old as the Constitution itself. Apart from the directive principles laid down in Part-IV of the constitution which provides for separation of judiciary from the executive, the constitutional scheme does not provide any formalistic… Continue reading Judicial pronouncements on the doctrine of separation of powers in India, Judicial review

Indian state represents a contemporary approach in constitutionalising the doctrine of separation of powers. Essentially, there is no strict separation of powers under constitution, both in principle and practice. In India, there are three distinct activities in the Government through which the will of the people are expressed. The legislative organ of the state makes… Continue reading Doctrine of separation of powers in India

It is established in documents that dogma of separation of powers considers the idea that the governmental functions must be based on a tripartite division of legislature, executive and judiciary. The three organs should be separate, distinct and independent in its own sphere so that one does not intrude the territory of the other. Previous… Continue reading Theory of Separation of Powers and its Major objectives

Recognizing that e-Governance is playing an increasingly important role in modern governance, various agencies of the Government and civil society organizations have taken a large number of initiatives across the country. Key models implemented in the country  Customs and Excise (Government of India) 98% of export and 90-95% of import documentation computerized. Electronic filing through… Continue reading e-governance: Models, Successes and Opportunities

There are many challenges in implementing E-governance model in India as well as at global scale. The actual challenge is how to develop and withstand successful e-governance projects and deliver state of the art e-services to inhabitants. Unfortunately, it is not as easy to develop e-governance website in service delivery mechanism. Efficacious e-governance initiatives can… Continue reading Challenges to e-governance and requirements for successful implementation

E-Governance is the use of information and communication technologies to support good governance. It has the following main applications: Government To Citizen (G2C) G2C will aim at connecting citizens to government by talking to citizens and supporting accountability, by listening to citizens and supporting democracy, and by improving public services. It will involve better services… Continue reading Applications of e-governance, Essentials for achievement

E-Governance implemented by the government of India allows for government transparency. Government transparency is significant because it allows the public to be informed about what the government is working on as well as the policies they are trying to implement. It encourages accountability in all government dealings, in recent times many Indian states have come… Continue reading Interactions between main groups in e-governance, Action plan for India

In the arena of advanced technology, e-government has distinct place and it facilitates to huge number of customers to perform their task speedily. As the Internet supported digital communities grow, they present the national governments with numerous challenges and opportunities. e-Governance which also known as electronic governance is basically the application of Information and Communications… Continue reading Concept of e-Governance and its advantages

Monetary Policy Agreement What is Monetary Policy Agreement? In 2015 The Government of India and Reserve Bank of India signed a Monetary Policy Framework Agreement. The new monetary policy framework was formed following the recommendations of a committee headed by RBI Deputy Governor Urjit Patel. The objective of monetary policy framework is to primarily maintain… Continue reading Monetary Policy Agreement in India

RBI Tools for Controlling Credit/Money Supply Broadly speaking, there are two types of methods of controlling credit. Bank Rate Policy Bank rate is the minimum rate at which the central bank of a country provides a loan to the commercial bank of the country. Bank rate is also called discount rate because the central bank… Continue reading Monetary Policy tools and Money Supply in India

How Monetary Policy Works The Inflation  The Deflation How RBI Controls Recession The Recessionary Scenario The Relationship between Interest Rate and Bond Prices. The Bond Price and Interest Rate always have an inverse relationship with each other. How RBI Controls Inflation The Inflationary Scenario   By Himanshu Arora Doctoral Scholar in Economics & Senior Research… Continue reading Monetary Policy in India: Inflation, deflation, Recessionary and Inflationary Scenarios

The Barter System Money as a medium of exchange was not used in the early history of mankind. Exchange of the goods was not very frequent as households were self-sufficient. Whatever exchange took place between the households was in the form of barter, that is, exchange of goods for other goods. The barter system does… Continue reading Monetary Economics: Barter System, Definition, Function and Evolution of Money

The Cost of Inflation The inflation is considered to be bad for an economy mainly because it destroys the purchasing power of the money. When Price rise, each Rupee that you had will but less quantity of goods and services. Therefore, inflation destroys the real income of the people and makes them worse off. The… Continue reading The Cost of Inflation