Wealth Tax
Wealth tax is a tax based on the market value of assets currently owned by a taxpayer, as opposed to taxes on asset sales, income.
Money and Capital Markets
“Financial market” is a phrase used to denote the total infrastructure which facilitates the trade of financial securities.Financial securities can be like currency, bonds, stocks, derivatives, commodities, forex etc. Structure of Financial Market in India Definition of Money Market and Capital Markets A component of financial market that facilitates short term borrowing, lending, buying and selling.
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Components of Government Budget
The components of budget primarily are Revenue Budget and Capital Budget, further divided in to receipts and expenditure components.
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Sacred Groves
Sacred groves, sacred woods, or sacred forests are groves of trees that have special religious importance within a particular culture.
Budget Documents
The list of Budget documents presented besides the Finance Minister’s Budget Speech, include Annual financial statement, demand for grants and so on.
Demand for Grants
Demand for Grants is a request for funds made by various ministries or departments of the government as a part of the budgetary process.
Government of India’s Accounts
The Government of India’s accounts are organized into three main divisions:
Consolidated Fund, Contingency Fund, Public Account.
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Bioluminescence
Bioluminescence is the ability of living organisms to produce light through chemical reactions. Bioluminescence is usually blue.
Basic structure of the Constitution
The Doctrine of Basic Structure is a form of judicial review that is used to test the legality of any legislation by the courts.
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Current Affairs – 16/12/24
Daily Current Affairs – 16/12/24, from Mint and Indian Express. A daily dose of news update is the best strategy for clearing UPSC.
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