WPI  vs CPI Elements Wholesale Price Index (WPI) Consumer Price Index (CPI) Definition Wholesale Price Index is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index … Continue reading →

Inflation Related Terms Deflation: It is the general fall in the price level over a period of time Disinflation: It is the fall in the rate of price increase or a slower rate of inflation. Example: a fall in the inflation rate … Continue reading →

Inflation Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc. Types of Inflation Based on Cause Demand Pull Inflation Demand pull … Continue reading →

Terms Related to Public Finance Crowding Out Effect: The crowding out effect occurs when increased government spending or borrowing leads to a reduction in private sector investment. Fiscal Drag: Situation where inflation pushes income into a higher tax bracket. The result … Continue reading →

Fiscal Consolidation Definition: Fiscal consolidation refers to policies aimed at reducing government deficits and debt accumulation to ensure long-term economic stability. Objectives: Reduce fiscal deficits. Maintain sustainable public debt levels. Enhance macroeconomic stability. Methods: Reducing Expenditure: Cutting non-essential government spending, … Continue reading →

Fiscal Deficit A fiscal deficit is the difference between the government’s total expenditure and its total revenue (excluding borrowings). It is an indicator of the extent to which the government must borrow to finance its operations and is expressed as … Continue reading →

Basics  Articles 371 to 371-J in Part XXI of the constitution contain special provisions for twelve states–  Maharashtra, Gujarat, Nagaland, Assam, Manipur, Andhra Pradesh, Telangana, Sikkim, Mizoram, Arunachal Pradesh, Goa and Karnataka. Originally, the constitution did not make any special … Continue reading →

What is Public Financing? Public finance is the management of a country’s revenue, expenditures, and debt through various Government, quasi-government institutions, policies, and tools. Components of public finance: public expenditure + public revenue + financial scrutiny + fiscal policy + … Continue reading →

Lokpal What is it?: Lokpal and Lokayukta are public institutions established in India to investigate and prosecute corruption among public officials.  Formation: Established by Lokpal and Lokayuktas Act,2013. Composition  The Lokpal will consist of a chairperson and a maximum of … Continue reading →

Constitutional Provisions Articles 233 to 237 in Part VI of the Constitution deals provisions to regulate the organization of subordinate courts and to ensure their independence from the executive. District Judges Qualification for Appointment He should not already be in … Continue reading →