Recommendations of the Twelfth Finance Commission

Recommendations of the Twelfth Finance Commission Restructuring Public FinancesCentre and States to improve the combined tax-GDP ratio to 17.6 per cent by 2009-10. Combined debt-GDP ratio, with external debt measured at historical exchange rates, to be brought down to 75 per cent by 2009-10. Fiscal deficit to GDP targets for the Centre and States to be fixed at 3 per cent. Revenue deficit of the Centre and States to be brought down to zero by 2008-09. Interest payments relative to revenue receipts to be brought down to 28 per cent and 15 per cent in the case of the Centre and States, respectively. States to follow a recruitment policy in a manner so that the total salary bill, relative to revenue expenditure, net of interest payments, does not exceed 35 per cent. Each State to enact a fiscal...

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Posted in: Indian Economy

Twelfth Finance Commission (2005-10)

Twelfth Finance Commission (2005-10) The Twelfth Finance Commission (TFC) was appointed on November 1, 2002 to make recommendations regarding the distribution between the Union and the States of net proceeds of shareable taxes, the principles which should govern the grants-in-aid of the revenues of States from the Consolidated Fund of India and the measures needed to augment the Consolidated Fund of a State to supplement the resources of local bodies in the State on the basis of the recommendations made by the Finance Commission of the State. The terms of reference mandated the Commission to review the state of the finances of the Union and the States and suggest a Plan by which the Governments, collectively and severally, restore budgetary balance, achieve macroeconomic stability and debt...

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Posted in: Indian Economy

Reserve Bank of India

Reserve Bank of India It is the Central Bank of the country. The Reserve Bank of India was established in 1935 with a capital of Rs. 5 crore. This capital of Rs. 5 crore was divided into 5 lakh equity shares of Rs.100 each. In the beginning the ownership of almost all the share capital was with the non-government shareholders. In order to prevent the centralisation of the equity shares in the hands of a few people, the Reserve Bank of India was nationalised on January 1, 1949. The general administration and direction of RBI is managed by a Central Board of Directors consisting of 20 members which includes 1 Governor, 4 Deputy Governors,...

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Urban Population

Urban Population S No.State / UTPersonsMalesFemales 1India@286,119,689150,554,098135,565,591 2Andaman & Nicobar Islands116,19864,01152,187 3Andhra Pradesh20,808,94010,590,20910,218,731 4Arunachal Pradesh227,881125,261102,620 5Assam3,439,2401,837,0921,602,148 6Bihar8,681,8004,648,7994,033,001 7Chandigarh808,515450,122358,393 8Chhattisgarh4,185,7472,166,7752,018,972 9Dadra & Nagar Haveli50,46329,83420,629 10Daman & Diu57,34828,90628,442 11Delhi12,905,7807,085,1475,820,633 12Goa670,577346,703323,874 13Gujarat18,930,25010,067,8068,862,444 14Haryana6,115,3043,310,9652,804,339 15Himachal Pradesh595,581331,867263,714 16Jammu & Kashmir2,516,6381,383,2741,133,364 17Jharkhand5,993,7413,205,4412,788,300 18Karnataka17,961,5299,249,9608,711,569 19Kerala8,266,9254,017,3324,249,593 20Lakshadweep26,96713,94013,027 21Madhya...

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Posted in: Geography of India , gk , Indian Economy