Fiscal Deficit of India
Fiscal Deficit is the difference between the governments earnings and its expenditures. As it can be understood from this, fiscal deficit is a major concern for the government year over year. Here is an umbrella view of the fiscal deficit of India taking into consideration the effect of UDAY scheme.
How India's new currency was born amid drama
Before November of last year, no one ever spared a thought for the currency that was such an integral part of their lives. We paid for things, and expected the correct change to be returned. But did we ever think about the design of the notes? Or the script on it? Or saw them in burnt piles by the highway? Or pined for Rs 100 notes? Not really. The most popular rumour about the new currency notes, and probably the most far-fetched, was that the new notes came with embedded GPS tracking chips. Forget the fact that many rural areas in India still didn’t have access to proper water, electricity and sanitation, the government had somehow invented a hi-tech way to make the new notes ‘black money proof’! Demonetisation scared people and they thought the government can go to any extent to detect black money. ‘Changing’ the currency Even after spending hours standing in queues at banks and ATMs, many faced the problem of breaking the Rs 2000 note into smaller denominations. Suddenly, the Rs 50 and Rs 100 notes became more important than the biggest note. The highest-denomination currency note found no takers. Shopkeepers gladly accepted Rs 100 and Rs 50 notes but didn't want to even touch the new note