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Gadgil Formula
The Gadgil formula is named after Dhananjay Ramchandra Gadgil, a social scientist and the first critic of Indian planning. It was evolved in 1969 for determining the allocation of central assistance for state plans in India. Gadgil formula was adopted for distribution of plan assistance during Fourth and Fifth Five Year Plans. Gadgil Formula The Gadgil formula was formulated with the formulation of the third five-year plan for the distribution of plan transfers amongst the states. It was named after D. R. Gadgil, then deputy chairman of the Planning Commission. The central assistance provided for in the first three plans and annual plans of 1966–1969 lacked objectivity in its formulation and did not lead to equal and balanced growth in the states. The National Development Council (NDC) approved the following formula: 1. Special Category states like Assam, Jammu and Kashmir and Nagaland were given preference. Their needs should first be met out of the total pool of Central ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dhananjay Ramchandra Gadgil
Dhananjay Ramchandra Gadgil (10 April 1901 – 3 May 1971), also known as D. R. Gadgil, was an Indian economist, institution builder and the vice-chairman of the Planning Commission of India. He was the founder Director of the Gokhale Institute of Politics and Economics, Pune and the author of the Gadgil formula, which served as the base for the allocation of central assistance to states during the Fourth five-year plan of India, Fourth and Five-year plans of India#Fifth Plan (1974–1978), Fifth Five Year Plans of India. He is credited with contributions towards the development of Farmers' Cooperative movement in Maharashtra. The Government of India recognised his services by issuing a commemorative postage stamp in his honour in 2008. Biography Early years Gadgil was born on 10 April 1901 in Nasik in the western Indian state of Maharashtra as the son of Ramchandra Bhargav, in Brahmin family which had migrated from the Konkan region. His early education was at his ancestral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal person, legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs. The first known taxation took place in Ancient Egypt around 3000–2800 BC. A failure to pay in a timely manner (Tax noncompliance, non-compliance), along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct tax, direct or indirect taxes and may be paid in money or as its labor equivalent. Most countries have a tax system in place, in order to pay for public, common societal, or agreed national needs and for the functions of government. Some levy a flat tax, flat percentag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Finances In 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] |
Deepali Pant Joshi
Deepali Pant Joshi is a former executive director of the Reserve Bank of India (retired in 2017). She is a development economist and a writer on economic subjects. Her professional responsibilities have included the Department oCurrency Management Legal Department and Premises Department. She was the First Appellate authority under the Right to Information Act, as well as the RBI nominee on the governing council of the Institute of Banking Personnel Selection (IBPS) and director on the board oBharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) Joshi has also served as the RBI regional director of Rajasthan. Prior to her appointment as executive director, Joshi was responsible for Customer Service Department and Rural Planning and Credit Department. Early life Deepali Pant Joshi studied at St. Mary's Convent Inter College, Prayagraj and at the University of Allahabad. Her father, Mr Jagdish Mohan Pant was an Advocate at the Allahabad High Court and later Administra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Management
In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach to economic management became unworkable. Fiscal policy is based on the theories of the British economist John Maynard Keynes, whose Keynesian economics theorised that government changes in the levels of taxation and government spending influence aggregate demand and the level of economic activity. Fiscal and monetary policy are the key strategies used by a country's government and central bank to advance its economic objectives. The combination of these policies enables these authorities to target inflation (which is considered "healthy" at the level in the range 2%–3%) and to increase employment. Additionally, it is designed to try to kee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deviation Method
Deviation may refer to: Mathematics and engineering * Allowance (engineering), an engineering and machining allowance is a planned deviation between an actual dimension and a nominal or theoretical dimension, or between an intermediate-stage dimension and an intended final dimension. * Deviation (statistics), the difference between the value of an observation and the mean of the population in mathematics and statistics ** Standard deviation, which is based on the square of the difference ** Absolute deviation, where the absolute value of the difference is used ** Relative standard deviation, in probability theory and statistics is the absolute value of the coefficient of variation * Deviation of a local ring in mathematics * Deviation of a poset in mathematics * Frequency deviation, the maximum allowed "distance" in FM radio from the nominal frequency a station broadcasts at * Magnetic deviation, the error induced in compasses by local magnetic fields Albums * ''Deviation' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pranab Mukherjee
Dr. Pranab Mukherjee (11 December 193531 August 2020) was an Indian politician and statesman who served as the 13th president of India from 2012 until 2017. In a political career spanning five decades, Mukherjee was a senior leader in the Indian National Congress and occupied several ministerial portfolios in the Government of India. Prior to his election as President, Mukherjee was Union Finance Minister from 2009 to 2012. He was awarded India's highest civilian honour, the Bharat Ratna, in 2019, by his successor as president, Ram Nath Kovind. Mukherjee got his break in politics in 1969 when the then Prime Minister Indira Gandhi helped him get elected to the Rajya Sabha, the upper house of Parliament of India, on a Congress ticket. Following a meteoric rise, he became one of Gandhi's most trusted lieutenants and a minister in her cabinet in 1973. Mukherjee's service in a number of ministerial capacities culminated in his first stint as Finance Minister of India in 1982–84. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Of India
The president of India ( IAST: ) is the head of state of the Republic of India. The president is the nominal head of the executive, the first citizen of the country, as well as the commander-in-chief of the Indian Armed Forces. Droupadi Murmu is the 15th and current president, having taken office from 25 July 2022. The office of president was created when India officially became a republic on 26 January 1950 after gaining independence on 15th August 1947, when its constitution came into force. The president is indirectly elected by an electoral college comprising both houses of the Parliament of India and the legislative assemblies of each of India's states and territories, who themselves are all directly elected by the citizens. Article 53 of the Constitution of India states that the president can exercise their powers directly or by subordinate authority (with few exceptions), though all of the executive powers vested in the president are, in practice, exercised by t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rank Correlation
In statistics, a rank correlation is any of several statistics that measure an ordinal association—the relationship between rankings of different ordinal variables or different rankings of the same variable, where a "ranking" is the assignment of the ordering labels "first", "second", "third", etc. to different observations of a particular variable. A rank correlation coefficient measures the degree of similarity between two rankings, and can be used to assess the significance of the relation between them. For example, two common nonparametric methods of significance that use rank correlation are the Mann–Whitney U test and the Wilcoxon signed-rank test. Context If, for example, one variable is the identity of a college basketball program and another variable is the identity of a college football program, one could test for a relationship between the poll rankings of the two types of program: do colleges with a higher-ranked basketball program tend to have a higher-ranked f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Per Capita Income
Per capita income (PCI) or total income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. Per capita income is often used to measure a sector's average income and compare the wealth of different populations. Per capita income is also often used to measure a country's standard of living. It is usually expressed in terms of a commonly used international currency such as the euro or United States dollar, and is useful because it is widely known, is easily calculable from readily available gross domestic product (GDP) and population estimates, and produces a useful statistic for comparison of wealth between sovereign territories. This helps to ascertain a country's development status. It is one of the three measures for calculating the Human Development Index of a country. Per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of India
The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Nashik (Western India) and Dewas (Central India). RBI established the National Payments Corporation of India as one of its specialised division to regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialised division for the purpose of providing insurance of deposits and guaranteeing of credit facilit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grant (money)
A grant is a funding, fund given by an end entity grant – often a Government, public body, charitable foundation, or a specialised grant-making institution – to an individual or another entity (usually, a non-profit organisation, sometimes a business or a local government body) for a specific purpose linked to public benefit. Unlike loans, grants are not to be paid back. European Union European Union grants The European Commission provides financing through numerous specific calls for project proposals. These may be within Framework Programmes for Research and Technological Development, Framework Programmes. Although there are many 7-year programmes that are renewed that provide money for various purposes. These may be Structural Funds and Cohesion Fund, structural funds, Youth programmes and Educational policies and initiatives of the European Union, Education programmes. There are also occasional one-off grants to deal with unforeseen aspects or special projects and theme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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