Union Budget 2017: Analysis of Numbers

Finance minister Arun Jaitley presented the Union Budget 2017 in Parliament on 1st of February. In this post we shall look at the numbers. The size of budget is 20.14 Lakh crore which is equal to Receipts or Expenditure of Government of India. Now as seen above the Budget can be divided into two parts Receipt and Expenditure (Receipt= Expenditure). When we look at the Receipts, it consists of two Continue Reading

Economic Survey 2017: Highlights, Download PDF English/Hindi

The Economic Survey for 2016-17, tabled in the Parliament by Finance Minister Arun Jaitley during the first day of the budget session, underlined the need for more reforms. The survey has been prepared by chief economic adviser Arvind Subramanian. Structurally, the Survey is divided into three sections: The Perspective, The Proximate, and The Persistent. Section I, provides a broad overview of recent developments and a near-term outlook. It includes chapters Continue Reading

Payment Banks

In a bid to promote financial inclusion the Union government has come up with ideas like Payment Banks & Small Banks. The RBI has recently granted ‘in principle’ approval for payment banks to 11 entities, including big names like Reliance Industries, Aditya Birla Nuvo and Tech Mahindra, as also Airtel and Vodafone. What is Payment Bank? Payment Banks are banks that will undertake only certain restricted banking functions that the Banking Regulation Continue Reading