Introduction Economics is not merely the study of wealth or resource allocation — it is also about how these resources affect human welfare. The branch of economics that explicitly focuses on this aspect is known as Welfare Economics. It deals with the evaluation of economic policies and conditions in terms of their impact on the…
Introduction Inflation and economic growth are two of the most crucial macroeconomic variables that shape the performance of an economy. While economic growth indicates the rise in a country’s productive capacity and output over time, inflation refers to the persistent increase in the general price level of goods and services. The relationship between these two…
Introduction Banks are the backbone of the modern financial system and play a pivotal role in the economic development of a country. A bank is not merely a financial institution that accepts deposits and grants loans, but also an essential component of the economic structure that facilitates trade, investment, and development. It serves as a…
Introduction Interest has always been one of the most debated and fascinating concepts in economics and finance. It plays a crucial role in determining how individuals, firms, and governments make decisions regarding saving, borrowing, and investment. The statement “interest is the reward for relinquishing liquidity and is determined by the demand and supply of money”…
Introduction Energy is the foundation of modern civilization and the key driver of economic development. From industrial production to agriculture, from transportation to communication, and from domestic use to national security — energy plays a critical role in every aspect of life. In India, energy is not only an essential infrastructure component but also a…
Introduction Transport is the lifeline of economic development. It connects producers to markets, people to opportunities, and regions to one another. In a vast and diverse country like India, a well-developed transport network is crucial for national integration, industrialization, trade, and social progress. The efficiency and reach of transport systems directly influence productivity, regional balance,…
Introduction Infrastructure forms the backbone of any modern economy. It represents the essential physical and organizational structures that enable the functioning of society and economic activity. In a developing nation like India, infrastructure plays a pivotal role in accelerating growth, improving productivity, reducing poverty, and promoting inclusive development. The government’s planning process — especially under…
Introduction Women constitute nearly half of India’s population and play an indispensable role in social and economic development. However, structural inequalities, socio-cultural barriers, and limited access to resources have historically restricted their participation in decision-making and economic activities. Recognizing these challenges, the Government of India has launched a variety of women empowerment programs aimed at…
Introduction Regional Financial Institutions (RFIs) play a vital role in shaping economic stability, promoting development, and supporting financial cooperation within specific geographic regions. Unlike global financial institutions such as the International Monetary Fund (IMF) or World Bank, RFIs focus on addressing the unique developmental needs of their member regions. Among the most significant RFIs are…
Introduction In the age of globalization, regional economic cooperation plays a crucial role in promoting peace, prosperity, and sustainable growth. Countries across the world form economic groupings and trade blocs to strengthen regional integration, enhance trade, and ensure collective progress.In South and Southeast Asia, several such initiatives have emerged, including the South Asian Free Trade…