India has set an ambitious goal of becoming a $5 trillion economy, a vision that represents its aspirations for rapid economic expansion, global competitiveness, and improved living standards. The government has undertaken key structural reforms, policy measures, and sectoral advancements to accelerate growth, but significant challenges remain. This article critically analyzes India’s progress toward achieving…
A nation’s economic growth and development depend heavily on how its government allocates financial resources through the annual budget. The budget determines the course of public spending, taxation, investment in key sectors, and social welfare initiatives, all of which shape economic stability and progress. In India, the Union Budget is a crucial policy instrument that…
A fiscal deficit is an essential concept in the field of public finance and plays a critical role in understanding a country’s economic health. In simple terms, a fiscal deficit occurs when a government’s total expenditure exceeds the revenue that it generates, excluding borrowing. It is often expressed as a percentage of a country’s GDP…
Introduction Uttar Pradesh (UP) is India’s most populous state and one of the largest contributors to the country’s economy. The revenue system of the state plays a crucial role in generating funds necessary for governance, public welfare, and infrastructure development. However, despite its vast resources and economic potential, the state faces several challenges in its…
Introduction The COVID-19 pandemic and the subsequent lockdowns imposed by the Indian government had a profound impact on the country’s economy. The sudden halt in economic activities led to a sharp decline in GDP growth, disrupted supply chains, increased unemployment, and posed challenges to businesses across sectors. To counter the recessionary trends induced by the…