In respect of capital account of balance of payment, the indian rupee is partially convertible after 1991.

The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because current prices are influenced by the effect of price inflation.

Internal debt is that part of the total debt that is owed to lenders within the country. Market borrowings, Treasury bills and special securities issued to RBI are all sources of internal borrowings.

FDI is defined as investment by a foreign multinational or its subsidiary or a foreign company in terms of setting up a project in another country either by way of a 100% subsidiary or by way of a joint venture. Thus, FDI investment is long term in nature. Thus, it can not be pulled out of the country at short notice. It is also non-debt creating.

In India plans are formulated by Planning Commission and are finally approved by National Development Council. All state chief ministers are members of NDC. The NDC is headed by prime minister of India.

Debt Trap is a situation where you add on a new debt in order to repay an existing debt.

All taxes which are the personal liability of an assessee come under direct taxes. They include income tax, professional tax, wealth tax, securities transaction tax, commodity transaction tax and the like. On the other hand, the taxes which a person can recover from some other person but the liability of which remains of the person collecting such taxes are indirect taxes. These are custom duty, excise, service tax, vat, CST and the like.

This all happened from 1975-78 during fifth five year plan the period of which is (1974-78).

The second five-year plan emphasized on the development of the public sector and “rapid industrialization. The third five –year plan, stressed on agriculture and improvement in the production of food grains with long term development.

It is published by Ministry of Statistics and Programme Implementation, Central Statistical Organization.

Nationalization of State Bank of India – 1955; Introduction of First Five-Year Plan – 1951; Enactment of Banking Regulation Act – 1949; Nationalization of Insurance Companies – 1955-56

The objectives of establishing SEZs Special export Zones include making available goods and services free of taxes and duties supported by an integrated infrastructure for export production, and single window approval mechanism and a package of incentives to attract foreign and domestic investments for promoting export-led growth.

India has comprehensive Double Taxation Avoidance Agreements (DTAA) with 23 countries. This means that there are agreed rates of tax and jurisdiction on specified types of income arising in a country to a tax resident of another country. Under the Income Tax Act 1961 of India, there are two specific provisions, Section 90 and Section 91, which provide specific relief to taxpayers to save them from DTAA. Section 90 is for taxpayers who have paid the tax in a country with which India has signed DTAA, while Section 91 provides relief to taxpayers who have paid tax to a country with which India has not signed a DTAA. Thus, India gives relief to both kind of taxpayers Mauritius by itself is a low tax counting.

A neutrino is an elementary particle that usually travels close to the speed of light, is electrically neutral, and is able to pass through ordinary matter almost undisturbed. This makes neutrinos extremely difficult to detect. Neutrinos have a very small, but nonzero rest mass. Neutrinos are affected only by a ‘weak’ sub-atomic force of much shorter range than electromagnetism, and are therefore able to pass through great distances in matter without being affected by it.

Inclusive growth is ‘broad-based growth’, ‘shared growth’, and ‘pro-poor growth’. It excludes the capital markets which is left to operate by itself in the open market.

As per provisions given under Article 281 of the Indian Constitution the recommendations of the finance commission go to the president who is constitutionally bound to place it before the two houses of the parliament.

The DEA or the Department of Economic Affairs is responsible for preparation and presentation to the Parliament of Central Budget and the Budgets for the State Governments under President’s Rule and Union Territory Administration.

Abolishing the subsidies will lead to higher prices of goods and services which are subsidzed. A reduction in the tax rate would be a stimulus. While increase in government expenditure would increase the level of demand in the economy.

It was during eighth plan period (1992-97) that emphasis was put on infrastructure development.

On 27 January 2005, the Government had decided to constitute a ‘National Investment Fund’ (NIF) into which realization from sale of minority shareholding of the Government in CPSEs would be channelised. This fund is managed by professionals and a part of it is used for use in social sector – like education, health care and employment.