The Repo Rate/Repurchase rate is the benchmark ‘interest rate’ of the RBI at which the commercial banks borrow money from the RBI. It is a short term borrowing, meaning the banks borrow for a time period of less than a year. Why do banks borrow ? 🤔 Why do banks borrow from the central bank … Read more
An economy – divided into three sectors before exploring these three sectors we should understand what is an economy ? ‘economy’ is a system through which a country or society plans & organizes the use of the available Resources. The purpose of such a system is to utilise the limited resources and produce the required … Read more
GST 2.0 – What has changed in GST ?.. In July 2017 GST was implemented. Now GST 2.0 brings some changes to GST system in September 2025. Considering the current economic situation, the government has changed the GST rate slabs . There are currently 4 slabs of GST (5%,12%,18%,28%) . The GST Council has revised the GST. These amendments will be … Read more
GST in detail – In GST part 1 we saw what GST is and its basics. goods and services tax is an indirect tax levied on the purchase and sale of goods and services . Now let us learn a little more about goods & services tax. which ministry collects it? Finance Ministry of the Central Government … Read more
GST (Goods & Services Tax) – The idea that there should be a single tax system in a country led to the emergence of the GST. Value-added tax (VAT) system was there before goods & services tax. In the VAT system, there were different types of taxes and different rates in different states. The central and state governments … Read more
What is tax? Explanation – tax is a fee (financial charge) that the government collects from you. it is a legal payment taken by the government for the services it provides to us(public/citizens). What facilities does the government provide us for which we pay taxes ? The government can provide many such essential services with tax money. We … Read more
What is the difference between million, billion, trillion … The above foreign words always confuse us. Words like million, billion are used more in financial and ecomonic stuffs. When we see or hear these words together, there is less clarity and more confusion. Whether it is about the number of stars in the sky, the wealth … Read more
currently, the word ‘ GDP’ is heard a lot by us, economists consider GDP figures regarding the economic development of a country. We see or read about our country’s GDP on TV, newspapers, magazines, etc. India is currently (2025) the 4th largest economy in the world and its GDP ( Gross Domestic Product ) is 4.2 trillion US dollars ( Source : IMF ). let’s find out what … Read more