Did you know that nearly 99.7% of data points in a normal distribution are within three standard deviations of the mean? This fundamental aspect of the normal distribution, or Gaussian…
The Augmented Dickey Fuller or ADF Test of stationarity is a unit root based test. It attempts to overcome the shortcomings of the original Dickey Fuller test. Researchers often observed…
Public goods, unlike private commodities, possess unique attributes that underpin a fundamental economic challenge. These goods can be utilized by multiple individuals concurrently without diminishing in value. This fundamental quality…
The principal-agent problem sits at the nexus of several modern economic dilemmas. The scenario involves a principal, for example, a shareholder, who entrusts funds or resources to an agent, often…
Though it might seem trivial, information asymmetry plays a profound role in market dynamics, often causing significant issues. Asymmetric information manifests when one entity in an exchange holds a considerable…
Defined within the free market context, market failure denotes the ineffective allocation of goods and services. This imbalance transpires when the volume of services or goods supplied does not align…
In April, India saw a considerable rise in wholesale prices, hitting a 13-month peak at 1.26%. This uptick stresses the mounting inflationary burdens on businesses nationwide. Therefore, the Wholesale Price Index…
The Ministry of Statistics and Programme Implementation (MoSPI) undertakes the calculation of the Consumer Price Index in India (CPI). This process involves data gathering from 1181 village markets and 1114…
The Consumer Price Index (CPI) stands as a linchpin in understanding the economic climate for over 90 million Americans. This metric, hence, offering a wide lens on inflation, monitors the…
In 1969, the Monopolistic and Restrictive Trade Practices or MRTP Act was set forth in India. Its paramount aim was to deter activities that may restrain fair trade and harm…
The Parliament of India enacted the Competition Act in 2002. It later replaced the outdated Monopolies and Restrictive Trade Practices Act or MRTP Act from 1969. This pivotal move signifies India's…
In India, since 2003, the Fiscal Responsibility and Budget Management (FRBM Act) has served as a cornerstone for introducing financial accountability and supervising the nation's public expenditure. However, the authoritative trajectory…
Infrastructure's impact on growth emanates from multiple interrelated avenues. Expansion and modernization of energy, telecom, and transportation infrastructures positively affect economic expansion, since these vital systems are essential in producing…
Famed French diplomat Jean-Baptiste Colbert eloquently articulated, "The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible…
Planning in India and the Five-Year Plans significantly influenced the Indian Economy from 1951 to 2017. Planning in India was overseen by the Planning Commission, designed to elevate India to a…
