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Economic Advisory Council
Economic Advisory Council to the Prime Minister of India (PMEAC) is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically the Prime Minister. The council serves to highlight key economic issues facing the country to the government of India from a neutral viewpoint. It advises the Prime Minister on economic issues like inflation, microfinance, and industrial output. History The PMEAC has been constituted several times since the independence of India. In the latest occurrence, Prime minister Modi revived the body on 25 September 2017. Currently PMEAC chairman post is held by Bibek Debroy. The previous Prime Minister's Economic Advisory Council (PMEAC) Chairman Chakravarthi Rangarajan resigned on 19 May 2014. He sent his resignation to the Prime Minister Manmohan Singh.He resigned following the defeat of the Congress-led UPA in the general elections 2014. Since the term of the PMEAC was parallel to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Economic Advisor To The Government Of India
ThChief Economic Adviser (CEA)is a post in Government of India and is equivalent to rank of Secretary to the Government of India. The CEA is the ex-officio cadre controlling authority of the Indian Economic Service. The CEA is head of Economic Division of the Department of Economic Affairs, Ministry of Finance, Government of India. Until 2009, the CEA’s position was a Union Public Service Commission appointment and until the 1970s almost all CEAs were members of the Indian Economic Service. Role of the CEA The extent to which the Government takes into account the advice of the Chief Economic Adviser has generally been considered to be open-ended. In his 2018 book titled ''Of Counsel: The Challenges of the Modi-Jaitley Economy,'' former CEA Arvind Subramanian stated that the job of the CEA carried no executive responsibility. According to him, the only clearly defined job of the CEA was to produce the Economic Survey of India preceding the Union Budget. List of CEAs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Rating
A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting. The credit rating represents an evaluation of a credit rating agency of the qualitative and quantitative information for the prospective debtor, including information provided by the prospective debtor and other non-public information obtained by the credit rating agency's analysts. Credit reporting (or credit score) – is a subset of credit rating – it is a numeric evaluation of an ''individual's'' credit worthiness, which is done by a credit bureau or consumer credit reporting agency. Sovereign credit ratings A sovereign credit rating is the credit rating of a sovereign entity, such as a national government. The sovereign credit rating indicates the risk level of the investing environment of a country and is used by investors whe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies Of India
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Responsibility And Budget Management Act
The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of the Parliament of India to institutionalize financial discipline, reduce India's fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget and strengthen fiscal prudence. The main purpose was to eliminate revenue deficit''Revenue Deficit'' is defined in the ''act'' as the difference between the revenue expenditure and revenue receipts which indicates increase in liabilities of the Central Government without corresponding increase in assets of the country (building revenue surplus thereafter) and bring down the fiscal deficit to a manageable 3% of the GDP by March 2008. However, due to the 2007 international financial crisis, the deadlines for the implementation of the targets in the act was initially postponed and subsequently suspended in 2009. In 2011, given the process of ongoing recovery, Economic Advisory Council publicly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2008
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often as an attempt to reduce inflation or the interest rate, to ensure price stability and general trust of the value and stability of the nation's currency. Monetary policy is a modification of the supply of money, i.e. "printing" more money, or decreasing the money supply by changing interest rates or removing excess reserves. This is in contrast to fiscal policy, which relies on taxation, government spending, and government borrowing as methods for a government to manage business cycle phenomena such as recessions. Further purposes of a monetary policy are usually to contribute to the stability of gross domestic product, to achieve and maintain low unemployment, and to maintain predictable exchange rates with other currencies. Monetary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manmohan Singh
Manmohan Singh (; born 26 September 1932) is an Indian politician, economist and statesman who served as the 13th prime minister of India from 2004 to 2014. He is also the third longest-serving prime minister after Jawaharlal Nehru and Indira Gandhi. A member of the Indian National Congress, Singh was the first Sikh prime minister of India. He was also the first prime minister since Jawaharlal Nehru to be re-elected after completing a full five-year term. Born in Gah, Pakistan, Gah, Punjab (region), West Punjab, in what is today Pakistan, Singh's family migrated to India during Partition of India, its partition in 1947. After obtaining his doctorate in economics from Nuffield College, Oxford, Oxford, Singh worked for the United Nations during 1966–1969. He subsequently began his bureaucratic career when Lalit Narayan Mishra hired him as an advisor in the Ministry of Commerce and Industry (India), Ministry of Commerce and Industry. During the 1970s and 1980s, Singh held seve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of State
Minister of State is a title borne by politicians in certain countries governed under a parliamentary system. In some countries a Minister of State is a Junior Minister of government, who is assigned to assist a specific Cabinet Minister. In other countries a Minister of State is a holder of a more senior position, such as a Cabinet Minister or even a Head of Government. High government ranks In several national traditions, the title "Minister of State" is reserved for government members of cabinet rank, often a formal distinction within it, or even its chief. *Brazil: Minister of State ( pt, Ministro de Estado) is the title borne by all members of the Federal Cabinet. *Kenya: A Minister of State generically refers to a more senior minister by virtue of the revenue power, or security implications of their ministry. For instance, ministries housed under the Office of the President, Office of the Deputy President and Office of the Prime Minister are titled as "Ministries of S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cabinet Minister
A minister is a politician who heads a ministry, making and implementing decisions on policies in conjunction with the other ministers. In some jurisdictions the head of government is also a minister and is designated the ‘prime minister’, ‘premier’, ‘chief minister’, ‘chancellor’ or other title. In Commonwealth realm jurisdictions which use the Westminster system of government, ministers are usually required to be members of one of the houses of Parliament or legislature, and are usually from the political party that controls a majority in the lower house of the legislature. In other jurisdictions—such as Belgium, Mexico, Netherlands, Philippines, Slovenia, and Nigeria—the holder of a cabinet-level post or other government official is not permitted to be a member of the legislature. Depending on the administrative arrangements in each jurisdiction, ministers are usually heads of a government department and members of the government's ministry, cabinet and pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of India
The prime minister of India (IAST: ) is the head of government of the Republic of India. Executive authority is vested in the prime minister and their chosen Council of Ministers, despite the president of India being the nominal head of the executive. The prime minister is often the leader of the party or the coalition with a majority in the lower house of the Parliament of India, the Lok Sabha, which is the main legislative body in the Republic of India. The prime minister and their cabinet are at all times responsible to the Lok Sabha. The prime minister is appointed by the president of India; however the prime minister has to enjoy the confidence of the majority of Lok Sabha members, who are directly elected every five years, lest the prime minister shall resign. The prime minister can be a member of the Lok Sabha or of the Rajya Sabha, the upper house of the parliament. The prime minister controls the selection and dismissal of members of the Union Council of Ministers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NITI Aayog
The NITI Aayog (; abbreviation for National Institution for Transforming India) serves as the apex public policy think tank of the Government of India, and the nodal agency tasked with catalyzing economic development, and fostering cooperative federalism through the involvement of State Governments of India in the economic policy-making process using a bottom-up approach. Its initiatives include "15-year road map", "7-year vision, strategy, and action plan", AMRUT, Digital India, Atal Innovation Mission, Medical Education Reform, agriculture reforms (Model Land Leasing Law, Reforms of the Agricultural Produce Marketing Committee Act, Agricultural Marketing and Farmer Friendly Reforms Index for ranking states), Indices Measuring States’ Performance in Health, Education and Water Management, Sub-Group of Chief Ministers on Rationalization of Centrally Sponsored Schemes, Sub-Group of Chief Ministers on Swachh Bharat Abhiyan, Sub-Group of Chief Ministers on Skill Development, Ta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
