Prime minister's recent introduction of new social security schemes to ensure insurance and pension for all remains a laudable step. These schemes were launched on May 9, 2015 and are expected to enhance welfare of citizens, especially workers in unorganized sector. The schemes are Pradhan...

Pradhan Mantri Jan-Dhan Yojana (PMJDY) was introduced in August 2014 and has achieved record success in terms of ensuring almost 100 percent household coverage. The study attempts to examine the success of PMJDY in six Gram Panchayats of Gubbi. The study finds that new accounts have been opened...

In India, tax to GDP ratio, at around 18 percent, is amongst the lowest in the world, probably because India, as mentioned in the Union Budget of 2017-18, is a tax non-compliant country. Tax evasion and corruption are deterrent to economic growth. Given that India is an emerging country, there...

In India, banks have played an important role in economic growth and development. Since the 1970s, public sector banks (PSBs) have been in the forefront of mobilizing resources from far flung rural areas as well as extending banking services in the remotest parts of the country. The burden of...

The interdependence between credit expansion and economic growth has been a subject of some debate. While some economists contest that the development of the financial system is a byproduct of economic growth others assert that credit expansion is critical for growth itself. India's impetus on...

Finance for micro, small, and medium-sized enterprises (MSMEs) has been a concern for all stakeholders including entrepreneurs, financial institutions, and government organizations. The key objective of the study was to identify various challenges faced by MSMEs in sourcing of finance during...

The dynamics of the monetary system is undergoing significant changes in India. The entire concept and flow of money; narrow, broad or base, is being influenced by measures related to financial inclusion and also behavioural changes with respect to the increase in usage of plastic money and...

The Fiscal Responsibility and Budget Management Act (FRBMA), 2003 sets fiscal rules that seek to foster fiscal discipline on the Central Government and achieving a balanced budget with effective revenue management. The Act sets targets and suggests means of reducing fiscal and revenue deficits....

Financial inclusion can play a key role in facilitating inclusive economic growth particularly in a developing economy. An inclusive finance must provide better banking services to all sections of society, especially low-income and weaker sections. The uniqueness of having a bank account is that...

Punjab has been in the forefront of providing food security to the nation but now it needs help as the per capita income of Punjab, from the highest in the country in 2000 is now much below that of Maharashtra, Gujarat, Tamil Nadu, Kerala, Karnataka and Haryana. The high unemployment rate in...