Current economic issues and Related Economics

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Covid-19 Protection Village Level, India

Maintain Social distancing in Village level Today I am telling you some of the silent workers who help us to overcome the situation of Covid-19 during the lockdown situation in village level. During the last few years I was associated with a civil society organization of development work. During the time I used to go various remote villages in the Jharkhand region to enhance their livelihood and develop structures of institution through various programs. Here structures and organization means community based organization like Self help groups, Village organization etc. Those who are in corporate sector hardly know about these, but in the current situation these structures play a vital role throughout the country. In these community based organization (CBOs) leading role have been played by the village women. Most of the members are illiterate but the unity and activeness to do something is surprised you. On the one hand they do their daily household work on the other hand they handle t...

Zamindari,Ryotwari, Mahalwari system In India

A t the time of independence there were three types of land tenure prevailing in India. They were the Zamindari system, the Ryotwari system and the Mahalwari system. The basic difference between these systems was made of payment of land revenue. But in this three systems the usual practice was, land cultivated by the tenants. Tenants themselves were three types 1 ) Occupancy tenants ---- enjoyed permanent and heritable rights on land, eligible to claim compensation from the land lord. 2) Sub tenants ----- appointed by the occupancy tenants. They did not have any security as tenure. 3) Tenant at will ---- appointed by the land lord and did not have security as a tenure could be evicted from the land at any time. Now we discuss the three main intermediaries system of land one by one. Zamindari system ---- This system was started during the British period in India. The pioneer of this system was Lord Cornwallis. This system came in...

Types of Patta or Deed of settlement prevail in India

Types of Patta T he special lands which government holds are distributed among the landless family in four ways. So we can say that there are four types of deed of settlement or patta prevail in India. They are 1) Agriculture patta , 2)Nijo Griho Nijo Bhumi (NGNB) 3) Forest patta and 4)Refugee Patta 1) Agriculture Patta –Agriculture patta mainly given for agriculture purpose to share copper and tenant farmers.(maximum amount of land that have given by the government is one acre, depending upon how much barga farmers actually hold.)Agriculture patta really motivates the landless farmer and encourage to implement the new technique to produce more. Before the agriculture patta where share copper bound ...

Deed of settlement or "patta"

India is one of the fastest growing developing countries in the world. As we see that its GDP growth rate is growing year after year. But is India developed with its growing economy? This is one of the big questions. Development of a country not only depends on its GDP growth rate. Development means total economic and social structural growth of an economy like health, education, sanitation, fertility rate, mortality rate etc. As India belongs to mixed economy structure a largest portion of its percapita income enjoy a smallest portion of people. So a large portion of people suffering a miserable situation without having proper food, education and health. This creates a massive difference between the upper and lower portion of society. The higher income group of society holding a large portion of land while most of the lower income group unable...

Land reform in India

Land Reform India is an agrarian country. A large part of income comes from the agriculture sector. Though the agrarian structure was not so good in India and considers the main obstacle to economic development. The main hindrance which was considering the impediment of agriculture sector is …….. 1) existence of intermediaries between the state and the cultivators.2) tenants are very much insecure here, due to huge pressure of debt, absence of ownership rights, minimum subsistence level output remain in their hand.. 3) Small and fragmented land hindering to implement of techniques for better production. 4) Uneven distribution of land holding create miserably huge difference between upper and lower section of the society.5) foremost lack of effective organization of the peasantry. Objectives of land reforms The main objectives of land reform are to growth oriented of agriculture ...

The importance of land in underdeveloped countries

Land is considered a valuable asset for all of us. In simple term if we define what is land we can say that it is that part of earth surface which is not covered by water and which is dry, but in real sense we are bothered that part of the land which is usable for human survival and development. We know that earth is containing three part of water and one part of land. But in this one part of land people are not able to use that part of land which is situated in high hill area, desert area and the area which is covered with dense forest. So, the land which is near the river is very much valuable and precious for human being. For survival land is considered a productive capital. History tell us that many war had been happened to protect own motherland, but due to its fixed nature the pressure on land increased day by day with increasing population .Though our modern technology try to increase the portion of land artificially in the earth surface through land reclamation or ...

GST Good OR Bad

GST GOOD OR BAD After completion of so many months of implementation of GST in India, lots of confusion question, litigation came out. But one question commonly come to all of us that ‘is really GST boost our economy?’ or ‘It is needed or not to implement of GST?’ In this blog we are focus here ,what problem the common people faces after implementation of GST and try to find out the answer why Government implement GST in our developing economic background in India context. The current Problem that we face after the implementation of GST We know from the earlier blog How GST works that GST reduces the tax burden from the common people and eliminate cascading of taxes and give transparency in our tax structure, but after its immediate implementation traders are faces lots of problems .Due to the...

REVERSE CHARGE MECHANISM (RCM)

After the implementation of GST there are lots of confusions arises among the common people, traders, business man and manufacturer about the taxation system, the main confusion surrounded between the two taxation terms that is input tax credit and reverse charge mechanism (RCM). As our GST rule all we know in a business, if the annual turnover in a financial year is within Rs 20 lakh (Rs10 lakh for north eastern and hill states) then he have not required paying GST. But the confusion arises when the rule is going to the market. From the earlier discussion How GST works it was shown that the whole GST process is actually a chain system. That means if manufacturer pay GST when he buy inputs and wholesaler buy the finished product with the proper GSTN(GST registration number),then wholesaler are eligible to claim input tax credit from the government. The Indian industrial sector are divided two parts organized sector and unorganized sector. Many big industrial secto...

Input tax credit

After the implementation of GST it is clear to us that it is a single tax system throughout the country, replace all type of indirect taxes of states, union territories and central. In GST system there are four types of collecting tax is introduced that is SGST-tax collected by states, CGST-tax collected by central ,UGST-tax collected by union territories and IGST-collected by central government for interstate sale. That is GST eliminates the cascading of taxes that is ‘tax on tax’ system. Now the main confusion arises when the term input tax credit comes. It is closely linked with the estimation of GST system. Now, what is input tax credit? It is the credit that an individual received for the tax on the inputs used in manufacturing the product .i.e if 10% tax he paid to buy an inputs then next step when the finished product he sale, he must be subt...