...Indian Financial Code Summary The Indian financial system is suffering from the problems of lack of financial inclusion, growth of unregulated shadow market, slow pace of innovation and the challenges of financial integration. It is felt that the present code of the financial sector need to be reviewed and altered, while keeping in mind the present needs of the economy. This is because most of the laws are very old, there are overlaps and inconsistencies, and there is lack of clarity in terms of regulations due to the presence of a number of regulators. It is also argued that the laws in India are traditionally evolved on a problem by problem basis. With the advent of the New Economic Policy in 1991, substantial economic liberalisation took place in India. Between 1991 and 2002, progress was made in four areas. Firstly, capital controls were substantially reduced to give Indian Firms access to foreign market. Also, a new pension system was evolved and the monopolies of the public sector in the insurance field were broken up. This led to the formation of the new Insurance regulator, Insurance regulator and Development Agency. Additionally, significant increase in the equity market as a mechanism to raise finance by firms led to the formation of the financial market regulator SEBI. Also infrastructure institutions, National stock exchange and National Security Depository were also set up. Although, these moves were taken up in the right direction but they were considered to be...
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...Table of Contents Budget 1 Railway Budget 2014-15 1 Union Budget 2014-15 2 Budget Railway Budget 2014-15 The Union Railway Budget for 2014-15 was presented by Mr D V Sadananda Gowda, Union Minister for Railways, Government of India, on July 8, 2014. Budget Highlights: Railways hope to achieve total receipts of Rs 1,64,374 crore and would peg total expenditure at Rs. 1,49,176 crore," he said. Earnings from Freight Traffic are estimated at Rs 1,05,770 crore and from Passenger Traffic Rs 44,645 crore, Indian Railways earned approximately Rs. 1,40,485.02 crores in fiscal 2013-14, as compared to Rs. 1,21,831.65 crores in fiscal 2012-13. Total goods earnings were Rs. 94925.02 crores in fiscal 2013-14, as compared to Rs. 82852.54 crores in fiscal 2012-13. It had a net income of 10,400 crore in 2013-13 and * Railways will play a role in building a dynamic India * Target to make India the largest freight carrier of the world * Highest-ever plan outlay of Rs 65,445 crore (US$ 10.95 billion) with budgetary support of Rs 30,100 crore (US$ 5.03 billion) * Leveraging of Railway PSU resources by bringing in their investible surplus funds in infrastructure projects of the Railways * 58 new trains .5 new Jansadharan trains, 5 Premium and 6 AC trains, 27 new Express trains, 8 new passenger services, 5 DEMU services and 2 MEMU services to be introduced and run of 11 trains to be extended * Bullet train proposed on identified Mumbai–Ahmedabad sector ...
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...1 Budget 2013-2014 Speech of P. Chidambaram Minister of Finance February 28, 2013 Madam Speaker, I rise to present the Budget for the year 2013-14. 2. I recall my last tenure as Finance Minister and acknowledge with gratitude the splendid support that I received from all sections of the House as well as the people of India. Today, more than ever, I seek the same support as we navigate the Indian economy through a crisis that has enveloped the whole world and spared none. 3. I intend to keep my speech simple, straight forward and reasonably short. I. THE ECONOMY AND THE CHALLENGES 4. I shall begin by setting the context. Global economic growth slowed from 3.9 percent in 2011 to 3.2 percent in 2012. India is part of the global economy: our exports and imports amount to 43 percent of GDP and two-way external sector transactions have risen to 108 percent of GDP. We are not unaffected by what happens in the rest of the world and our economy too has slowed after 2010-11. In the current year, the CSO has estimated growth at 5 percent while the RBI has estimated growth at 5.5 percent. Whatever may be the final estimate, it will be below India’s potential growth rate of 8 percent. Getting back to that growth rate is the challenge that faces the country. 5. Let me say, however, there is no reason for gloom or pessimism. Even now, of the large countries of the world, only China and Indonesia are growing faster than India in 2012-13. And in 2013-14, if we grow at the rate projected...
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...ISSUES FOR IIM INTERVIEW PROCESS © EssaysforIIM.com 2014-15 Issues for IIM PI Process http://www.essaysforIIM.com Contents US‐CHINA ENVIRONMENT DEAL 8 OIL PRICE 9 PAYMENT BANKS 11 SHADOW BANKING 13 NBFCs 14 NEW DEFINITION OF FDI 16 REFORMS IN POWER DISTRIBUTION 16 SECURITIES LAWS (AMENDMENT) BILL 2014 18 JUVENILE JUSTICE BILL, 2014 18 HUMAN DEVELOPMENT: INTERNATIONAL COMPARISON 19 INEQUALITY 20 SOCIO‐ECONOMIC PROFILE OF STATES AND INTER‐STATE COMPARISONS 21 ASER 2013: Main Findings 23 SKILL DEVELOPMENT 24 HOW INDIA NEEDS TO FACE CLIMATE CHANGE 24 AGENDA FOR ECONOMIC REFORMS 28 INFRASTRUCTURE 30 WHY LONG‐RUN MATTERS 30 FIVE PRONGED STRATEGY TO CONTROL INFLATION 31 URJIT PATEL COMMITTEE 32 Some Major Issues in India's Merchandise Trade Sector 32 MAKE IN INDIA OPPORTUNITY 34 Make for India or Make in India – The debate begins! 37 VULNERABILITY COMPARISON OF INDIAN ECONOMY 38 PM JAN DHAN YOJANA 39 COOPERATIVE FEDERALISM 40 ZERO DEFECT, ZERO EFFECT 41 DIGITAL INDIA 42 TWO FACTOR IDENTIFICATION ISSUE 43 MINSK AGREEMENT 44 WILFUL DEFAULT 44 © EssaysforIIM.com 2014‐15 Page 1 Issues for IIM PI Process http://www.essaysforIIM.com ‘MAKE IN INDIA’ ...
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