In this article we will discuss about the role of the government in a market economy. The classical economists like Adam Smith, J.S. Say and other advocated the doctrine of laissez faire which means non- intervention of the government in economic matters. Adam Smith introduced the concept of the invisible hand, which refers to the free functioning of the price [...]
The following points highlight the nine main sources of government revenue. The sources are: 1. Tax 2. Rates 3. Fees 4. Licence Fee 5. Surplus of the public sector units 6. Fine and penalties 7. Gifts and grants 8. Printing of paper money 9. Borrowings. Source # 1. Tax: A tax is a compulsory levy imposed by a public authority [...]
The below mentioned article provides a note on the Chamberlain Commission in regard to currency and exchange. The Chamberlain Commission was appointed in 1913 to consider, among other matters, "the measures taken by the Indian Govt. and the Secretary of State for India to maintain the exchange value of the rupee in pursuance of or supplementary to the recommendations of [...]