New 500 and 1000

Printing and issuing currency notes is the sole authority of the Reserve Bank of India (RBI), which is the central bank of the country. Over the period of time, central banks change the design of banknotes to avoid the problem of counterfeit notes, and sometimes banks take action like the demonetisation of currency notes.

GST (goods and service tax)

 GST

As the name suggests, it is a tax levied when a consumer buys a good or service. It is meant to be a single, comprehensive tax that will subsume all the other smaller indirect taxes on consumption like service tax, excise duty etc. This is how it is done in most developed countries. It will be a comprehensive nationwide indirect tax on the manufacture, sale, and consumption of goods and services. The aim is to have one indirect tax for the whole nation, which will make India a unified common market. GST will be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method and would make not just manufacturing but also the interstate transportation of goods more efficient.

 How will GST work and what all will it subsume?

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.

At the central level, the following taxes will be subsumed: Central Excise Duty, Additional Excise Duty, Service Tax, Countervailing Duty (Additional Customs Duty), and Special Additional Duty of Customs.

At the State level, the following taxes will be subsumed: State Value Added Tax/Sales Tax, Entertainment Tax, Central Sales Tax, Octroi and Entry tax, Purchase Tax, Luxury tax, and Taxes on the lottery betting and gambling.

How will GST be beneficial?

The benefits of GST can be summarized as under:

• For business and industry

     1.    Easy compliance
2. Uniformity of tax rates and structures
3. Removal of cascading
4. Improved competitiveness
5. Gain to manufacturers and exporters

• For Central and State Governments

     1.    Simple and easy to administer
2. Better controls on leakage
3. Higher revenue efficiency

• For the consumer

     1.    Single and transparent tax proportionate to the value of goods and services
2. Relief in overall tax burden

2.    What are the Earlier Opposition’s objections?

 The opposition party 'Congress' wants a provision capping the GST rate at 18 percent to be added to the Bill itself. It also wants to scrap the proposed 1 per cent additional levy (over and above the GST) for manufacturing states. This levy was demanded by manufacturing states who argued that they needed to be compensated for the investment they had made in improving their manufacturing capabilities. The Centre had agreed to this demand to encourage the states to support the GST Bill.

 The next demand by the Congress was to change the composition of the GST council—the body that decides the various nitty-grittys like rates of tax, period of levy of an additional tax, principles of supply, special provisions to certain states, etc. The proposed composition is for the Council to be two-thirds comprised from states and one-third from the Centre.

The Congress also wants the Centre’s share to be reduced to one-fourth. This demand, however, was rejected by even the Rajya Sabha Standing Committee.

·         By when will it be implemented?

·         Assuming the Constitution Amendment Bill does pass in the Monsoon Session, GST will still not be in force before April 1, 2017. And that is putting it optimistically. Apart from the legislative process mentioned above, the states, India Inc, and industries and service providers big and small, will also have to prepare themselves for a completely new nationwide tax regime.

·         How would GST be administered in India?

·         There will be two components of GST – Central GST (CGST) and State GST (SGST). Both Centre and States will simultaneously levy GST across the value chain. The tax will be levied on every supply of goods and services. Centre would levy and collect Central Goods and Services Tax (CGST), and States would levy and collect the State Goods and Services Tax (SGST) on all transactions within a State.

·          

·         The input tax credit of CGST would be available for discharging the CGST liability on the output at each stage. Similarly, the credit of SGST paid on inputs would be allowed for paying the SGST on output. No cross utilization of credit would be permitted.

      etc...... thanks

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Economics theory&their writers name

theory	writer name
theory of clubs	james buchanan
imposibility therom	kenneth arrow
political of decision making model	anthony downs
optimum provison of local public goods	charles tiebout
swarn like cluster	schumpeter
organic composation of capital	karl mark
sustainable development	brundtland report
vicious circle of poverty	ragner nurkse
low level of equilibrium trap	nelson
inverted v shaped income distribution hypothesis	simon kuznets
endogenous growth theory	robert solow
unlimited supply of labour	arthur lewis
example of dimond and water	adam smith
the screening hypoothesis	paul w. miier and paul a. volcker
job market signalling	m. spencer
the problem of moaral hazard in case of	J.k. arrow
medical insurance
the market of lemons	george A.Akerlof
liquidity trap	j.m. keynes
demostration effect	james duesenberry
permanent income hypothesis	milton friedman
wealth effect	A.C. pigou
concept of X-efficiency	H.leibenstein in 1966
golden age	mrs. joan robinson
goleden rule of accumulation	edmund phelfs
steady state growth	robert solow
financial dualism theory	h.myint
portfolio approch to demand money	j.m. keynes
the capicty creating aspect of investment	r.m. solow
in the growth model theory
role of non economic factor in explaing growth	r.m. solow
backward and forward linkages	unbalanced growth
turnpike theorem	von neumann model
organic composation of capital	marxian model
a.k. producation funcation	endogenous growth model
law level equilibrium trap	nelson R
critical minimum effect	leibenstein H.
big push	Rodan R
unbalanced growth	Hirchman A
voluntary exchange approch	wicksell-lindahll
the theory of local public goods	charles tiebout
time pattern of public expenditure growth	peacock-wiseman
principle of least aggregate sacrifice	A.C. pigou
principle of absolute advantage	adam smith
effect of factor of endowment change on trade	samuelson
theory of reciprocal demand	j.s mills
factor price equalisation	Rybczynski
highbrid index number	Yule
association of attributes	Gulton
rank correlation	marshall -edgeworth
regression	spearman
wages goods model	p.r. brahmananda
circuler flow of economic life	Joseph-schumpeter
stability of demand funcation for money	milton friedman
demand inflaton theory	Bent henson
interest elasticity of transactions demand for cash	james tobin
real balance effect	don patinkin
absolute income hypothesis, genral theory	j.m. keynes
rational expectation hypothesis	robert lucas
relative income hypothesis	james duesenberry
the new keynesian model	N.Gregory mankiew....   ........etc

BANK NAME TAGLINE

BANK NAME                                                              TAGLINE
1 Allahabad Bank ----------------------------------A tradition of trust
2 Andhra Bank ------------------------------------ - Where India Banks
3 Bank of Baroda --------------------------------- India’s International Bank
4 Bank of India ------------------------------------ Relationships beyond Banking
5 Bank of Maharashtra --------------------------- One Family One Bank
6 Canara Bank ------------------------------------- Together we Can
7 Central Bank of India ----------------------- - Build A Better Life Around Us, Central to you since 1911
8 Corporation Bank -------------------------------Prosperity for all
9 Dena Bank ------------------------------------------Trusted Family Bank
10 Indian Bank ---------------- ----Taking Banking Technology to Common Man, Your Tech- friendly bank
11 Indian Overseas Bank ------------------------- Good people to grow with
12 Oriental Bank of Commerce ---------------------Where every individual is committed
13 Punjab National Bank ------------------------- The Name you can Bank Upon
14 Punjab & Sind Bank --------- ------------ Where service is a way of life
15 Syndicate Bank ------------------------Your Faithful And Friendly Financial Partner
16 Union Bank of India ------------------------Good people to bank with
17 United Bank of India -------- The Bank that begins with “U”
18 UCO Bank ----------------------------------- Honours Your Trust
19 Vijaya Bank ------------------------------------- A friend You can Bank Upon
20 IDBI Bank Ltd -------------------------------- -- Banking for all.                                                                                                       21 Bharatiya Mahila Bank ----------------------------Empowering women, Empowering India

STATE BANK GROUP
1 State Bank of India ----------- The Nation banks on us; Pure Banking Nothing Else; With you all the way
2 State Bank of Bikaner & Jaipur ------ ---------------------------------------------------------------
3 State Bank of Patiala ------------------------------------- Blending Modernity with Tradition
4 State Bank of Hyderabad --------------------------------- You can always bank on us
5 State Bank of Mysore ------------------------------------ Working for a better tomorrow
6 State Bank of Travancore -------------------------------- A Long Tradition of Trust

PRIVATE SECTOR BANKS                                                                                                                                  1 AXIS Bank Ltd. ----------------------------------------- Everything is the same except the name.
2 Citi Union Bank Ltd.---------------------------------------- Trust and Excellene since 1904
3 Coastal Local Area Bank Ltd. --------------------…………………………….         -
4 DCB Bank Limited --------……………………………………………
5 Dhanlaxmi Bank Ltd ------------------------------------- Tann. Mann. Dhan
6 ICICI Bank Ltd ---------------------------------------------- Khayal Aapka
7 IndusInd Bank Ltd. -------------------------------------- We make money simple
8 ING Vysya Bank Ltd. --------------------------------------- Jiyo easy
9 Karnataka Bank Ltd. ---------------------------------------- Your family bank across India
10 Kotak Mahindra Bank Ltd. ---------------------------------- Let’s make money simple
11 Krishna Bhima Samruddhi Local Area Bank -----------------------……………………….     
12 RBL Bank. -----------------------------------…………………………………………
13 Tamilnad Mercantile Bank Ltd. ----------------------------------- Be a step ahead of life
14 The Catholic Syrian Bank Ltd. -------------------------------------- Support all the way
15 The Federal Bank Ltd. ------------------------------------ Your perfect banking partner
16 HDFC Bank Ltd. ---------------------------------------- We understand your world
17 The Jammu & Kashmir Bank Ltd. -------------------------------- Serving to Empower
18 The Karur Vysya Bank Ltd. ------------------------------------- Smart way to bank
19 The Lakshmi Vilas Bank Ltd. ---------------------------------- The Changing Face of prosperity
20 The Nainital Bank Ltd. --------------------------------------------- Banking with personal touch
21 South Indian Bank Ltd. ------------------------------------ Experience Next Generation Banking
22 Yes Bank Ltd. ---------------------------------------------------- Experience our expertise

FDI Limits in different sectors in india

FDI- Foreign direct investment is the flow of capital in a nation by an individual or business. this flow may be in a fresh start of a new business or maybe in an existing business.

FDI can take place in two forms

1. Horizontal

2. Vertical

FDI Limits in different sectors in India

No.	Sector	%
1	Defence * Automatic mode 49% + Government route beyond 49%	100
2	Pension	49
3	Insurance *Insurance amendment bill 2021 to increase the limits of FDI from 49 to 74%	74
4	Public Sector banks	20
5	Private sector banks	74
6	Print Media	26
7	Civil Aviation *The government permits 100% FDI under automatic route	100
8	Multi Brand	51
9	Single Brand	100
10	Tourism	100
11	Medical Devices	100
12	White Labelled ATM	100
13	Telecom * Automatic up to 49% + Government Route beyond 49%	100
14	Railway sector in construction, operation, and maintenance of specified activities	100