The Chief Minister of Bihar is the head of the state government of Bihar. The state of Bihar has a rich history and culture and is one of the largest states in India, with a population of over 120 million people. The position of Chief Minister in Bihar is a highly important one, as the …
Taxation is an essential aspect of any economy. It is the process of collecting taxes from the citizens of a country to fund various government programs and services. In India, the taxation system is divided into two categories: direct taxes and indirect taxes. Direct taxes are levied directly on individuals, while indirect taxes are imposed …
Economic Growth and Economic Development are closely related concepts, but they differ in terms of their objectives, focus, and outcomes. Economic growth is one of the important components of economic development, but it is not the only one. Economic development aims to achieve long-term, sustainable improvement in the quality of life of the population, while …
National Income Accounting is a method used to measure and analyze the economic activity of a country or region. It involves the collection, recording, and analysis of economic data to determine the size and composition of a country’s economy, and to track changes in economic activity over time. What is National Income Accounting? National Income …
An economy is the system through which goods and services are produced, distributed, and consumed in a country or region. Different countries organize their economies in different ways, depending on their political ideologies, goals, and levels of development. Broadly, economies are classified into three main types: Capitalist, Socialist, and Mixed Economy. Market Economy In a …
Economics is the study of how individuals, businesses, governments, and societies make choices about using limited resources to meet their needs and wants. At its core, economics deals with the problem of scarcity—resources like time, money, labor, and raw materials are finite, but human wants are virtually unlimited. This basic problem gives rise to the …
Located in the state of Madhya Pradesh, Panna Tiger Reserve is one of the most popular national parks in the country. Spread over an area of 542.67 square kilometers, the reserve is home to a diverse range of flora and fauna, including the majestic Bengal Tiger. History of Panna Tiger Reserve The Tiger Reserve was …
The Second Administrative Reforms Commission (ARC) was established in 2005 by the Indian government with the mandate to examine the functioning of the Indian administration and recommend measures to enhance its efficiency, transparency, and accountability. The commission submitted its report in 2009, which contained 15 volumes and 133 recommendations covering various aspects of governance. This …
Western Ghat and Eastern Ghat are two important mountain ranges in India. The Western Ghat is also known as the Sahyadri mountain range, is a UNESCO World Heritage Site located on the western coast of India. Stretching for about 1,600 km, this range is home to an incredible diversity of flora and fauna, as well …
The Liberalised Remittance Scheme (LRS) is a facility provided by the Reserve Bank of India (RBI) that allows resident individuals to remit money outside India for various purposes. Under this scheme, individuals can remit up to USD 250,000 per financial year (April-March) for permissible transactions. What is Remittance? Remittance refers to the transfer of money …