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 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 Finance Commission plays a crucial role in shaping the fiscal framework between the Centre and the States in India. Established under Article 280 of the Indian Constitution, the Finance Commission is a constitutional body tasked with recommending the distribution of financial resources between the Union (Central Government) and the States, as well as…