Introduction In the globalized economy of the 21st century, international trade forms the backbone of economic growth for both developed and developing countries. For a country like India, which is steadily moving towards becoming the world’s third-largest economy, exports are not merely a source of foreign exchange but also a driver of industrial growth, employment…
Introduction In the 21st century, the world is witnessing rapid transformations in global politics, economics, and security. The global order that once appeared relatively stable under post-Cold War liberal frameworks is being reshaped by shifting power dynamics, regional rivalries, technological revolutions, and ideological contests. Amid these changes, states are increasingly faced with the challenge of…
Introduction The issue of caste-based reservations in India has long been intertwined with the country’s social, political, and economic framework. Designed as a mechanism to uplift historically marginalized communities, reservations in education, employment, and political representation aim to address centuries of social exclusion and systemic discrimination. Recently, the Maharashtra government’s decision to form caste-wise committees…
Introduction The Goods and Services Tax (GST), introduced in India in 2017, was one of the most significant indirect tax reforms in the country’s history. It aimed to replace the complex web of state and central taxes with a unified system, ensuring “One Nation, One Tax.” However, over the years, issues such as multiple tax…
Introduction The Goods and Services Tax (GST), implemented in India in July 2017, was hailed as one of the most significant tax reforms since independence. It aimed to unify the complex indirect taxation system into a “One Nation, One Tax” framework. Over the years, however, challenges such as revenue leakage, compliance burdens, disputes over rates,…
Introduction Floods are among the most frequent and devastating natural disasters that affect India almost every year. Due to its geographical location, monsoon dependency, and diverse river systems, India faces recurrent floods, particularly during the southwest monsoon season (June–September). These floods cause massive destruction to human life, livelihoods, infrastructure, agriculture, and the overall economy. The…
Introduction Floods are among the most frequent and devastating natural disasters in India. The northwestern plains, particularly Punjab, Haryana, Himachal Pradesh, and adjoining regions, have historically been vulnerable due to their river systems, irrigation networks, and dependence on monsoon rains. In recent years, the intensity and irregularity of rainfall have increased, leading to unprecedented flood…
Introduction Fiscal discipline and stability are crucial for any economy aiming for sustainable growth. In India, fiscal deficits have historically been a recurring concern due to high expenditure on subsidies, welfare schemes, and developmental projects, combined with limited revenue mobilization. To address the growing fiscal imbalance, the Government of India has constituted various committees from…
Introduction The Union Budget is one of the most important annual events in India’s governance and economic management. Often described as the annual financial statement of the central government, the Union Budget reflects the priorities, strategies, and fiscal health of the nation. It is not just a financial document but also a political and economic…
Introduction Every government in the world plays a significant role in the economic development of its nation. This role is carried out not only through laws, policies, and regulations but also through its financial decisions related to revenue and expenditure. The two main instruments of economic management are monetary policy and fiscal policy. While monetary…