The King and the water

Once there was a king, In a land far, far away long, long time ago popular he was, worshipped by many the king changed a law, to much fanfare nobody will draw water from the wells in buckets, only steel glasses to be used to draw water. People were storing excess water in buckets, And […]

Agriculture, Rural Development and Irrigation

1. What is a subsidy? A subsidy is a sum of money granted by the govt to keep the price of a commodity or service low, thus helping an industry general public. For example, if the price of a LPG cylinder is Rs. 800 but the govt want to protect the public and do not […]

Personal Finance and Start-Ups

1. What is the meaning of exempt? What is a “deduction”? Anything which is not chargeable to tax is called “exempt”. So, if you earn Rs. 10,000 and the govt decides not to charge tax on it, the income is said to be exempt. On the other hand, a “deduction” is the amount on which […]

Women, Children, Defence sector and safety

Highlights of the Union Budget 2016 for Women, Children, Defence and Safety- Total defence expenditure for 2016-17 is estimated to be Rs. 2,49,099 crores, an increase of 1.16% from last budget. While revenue expenditure is estimated to be Rs. 1,62,759 crores, capital expenditure will be Rs. 86,340 crores. The defence expenditure goes up to Rs. […]

Cleanliness, Sanitation and Drinking Water

Highlights of the Union Budget 2016 for Cleanliness, Sanitation and Drinking Water- As discussed in an earlier article, excise duty on mineral water is increased from 18% to 21%. The government has allocated Rs. 11,300 crores to Swachh Bharat Mission (SBM). The govt estimates to receive majority of this amount, Rs. 10,000 crores to be […]

Energy, Oil and Minerals

1. What is depreciation? Depreciation is the loss in the value of asset due to usage, wear & tear, technological advancement and passage of time. Business units consider depreciation an expense and charge the same in their Profit and Loss Account. For example, if you buy an asset of Rs. 300 and decide that its […]

Health, Education, Skills and Jobs

1. What is CSR? The term “Corporate Social Responsibility” is used to emphasise that a business has some responsibilities towards the society as well and it must fulfil those. In India, specified business units have to spend a specified portion of their profits for the social causes, like building schools, colleges, sanitation system, hospitals, drainage […]