Economy NOtes

Zero Base Budgeting (ZBB) emerged as a methodology to address these challenges. First introduced in the Union Budget in 1987

Off-budget financing refers to financial activities undertaken by governments or organizations that are not included in the main budgetary process

The Fiscal Responsibility and Budget Management (FRBM) Act stands as a cornerstone of fiscal policy in many countries, aimed at ensuring prudent financial management

During periods of economic downturn or crisis, fiscal stimulus becomes a crucial tool for governments to boost economic activity.

Deficits and deficit financing represent fundamental concepts in economics and government finance, playing significant roles in shaping fiscal policies

Capital receipts and capital expenditures are fundamental concepts in finance and accounting, essential for understanding the financial health and strategy of an organization

Revenue receipt and revenue expenditure are fundamental concepts in the realm of finance and economics, crucial for understanding the financial health and operational dynamics of any entity,

Fiscal policy refers to the part of government policy focused on raising revenue through various means, such as taxation, and determining

“Atma Nirbhar: A Path to Self-Reliance” encapsulates a transformative journey towards economic autonomy and self-sufficiency.

For India to achieve its ambitious goal of a five trillion-dollar economy, a strong emphasis on global competitiveness in the production and export of goods and services is crucial.