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…
Inflation is one of the most critical macroeconomic challenges affecting India’s economy. It refers to the sustained increase in the general price level of goods and services over time. While moderate inflation is considered beneficial for economic growth, high and persistent inflation erodes purchasing power, increases the cost of living, and creates financial instability. In…
Introduction The economic reforms of 1991 marked a turning point in India’s economic history. Prior to 1991, the Indian economy was characterized by a mixed economic model with a heavy reliance on state control, licensing systems, and protectionist policies. However, due to a severe balance of payments crisis, the government was compelled to introduce a…
Introduction India follows a federal system of government, where financial relations between the Centre and States play a crucial role in maintaining a balance of power and resources. The financial distribution framework is primarily governed by the Constitution of India, which lays out provisions for taxation, grants, and revenue sharing. Given the diverse economic conditions…
The Indian Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, aims to address the pressing needs of various sections of society, with a particular focus on the middle class. Recognizing the significant role that the middle class plays in the country’s economic growth, the government has announced several measures to ease their financial burdens,…
The Indian Union Budget for 2025, presented by Finance Minister Nirmala Sitharaman, holds immense significance as it sets the financial framework for the country’s economic growth and social welfare for the upcoming fiscal year. This budget aims to navigate India through the complex challenges of global economic uncertainties while fostering sustainable growth, social equity, and…