Constitutional Provisions Article 163–Council of Ministers to aid and advise Governor There shall be a Council of Ministers with the Chief Minister as the head to aid and advise the Governor in the exercise of his functions except in so … Continue reading →

Appointment of Chief Minister As per Article 164 of the Constitution, the chief minister is appointed by the governor. A leader of the party that has got the majority share of votes in the assembly elections, is appointed as the … Continue reading →

Related Terms (Fiscal Policy) Fiscal Deficit: It refers to the difference between a government’s total expenditure and its total revenue (excluding borrowings) during a particular period.  A fiscal deficit indicates the amount of money the government needs to borrow to … Continue reading →

Cyclicality of the Fiscal Policy Definition: Cyclicality of fiscal policy refers to the relationship between the government’s fiscal actions (taxation and public spending) and the overall economic cycle. The economic cycle includes periods of economic expansion (growth) and contraction (recession). Types … Continue reading →

Fiscal Policy Definition: Fiscal policy refers to the government’s use of taxation and spending to influence the economy. It’s a key tool for managing economic growth, controlling inflation, and addressing social and economic inequalities. Objectives of Fiscal Policy To mobilise additional … Continue reading →

Monetary Policy Transmission It refers to the process by which the Central Bank’s actions to control the money supply (such as a change in the Repo Rate) are transmitted to the final objectives of stable inflation and growth. It involves … Continue reading →

Monetary Policy in India The Reserve Bank of India Act of 1934 explicitly mandates the Reserve Bank of India (RBI) with the responsibility of formulating the monetary policy for the country. The Finance Act of 2016 amended the RBI Act … Continue reading →

What is Monetary Policy? It is a macroeconomic policy tool used by the Central Bank to influence the money supply in the economy to achieve certain macroeconomic goals. Objectives: Accelerating the growth of the economy. Maintaining price stability. Generating employment. … Continue reading →

Basics Articles 153 to Article 162 of the Indian Constitution deal with provisions related to governors of the states. The role of the Governor is quite similar to that of the President of India, but works at the state level. … Continue reading →