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Functional finance is an economic theory proposed by Abba P. Lerner. It states that government should finance itself to meet explicit goals, such as taming the business cycle, achieving full employment, ensuring growth, and low inflation . The principal ideas behind functional finance can be summarized as: •Governments have to intervene in the national and global economy; they are not self-regulating. •The principal economic objective of the state should be to ensure a prosperous economy. •Money is a creature of the state; it has to be managed. •Fiscal policy should be directed in light of its impact on the economy, and the budget should be managed accordingly, that is, 'balancing revenue and spending' is not important; prosperity is important.
Under the Pradhan Mantri Gareeb Kalyan Ann Yojana (PMGKAY), how much wheat allocation was restored by the government?
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Consider the following statement about Export Promotion Capital Goods (EPCG) norms:
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In which year was Mushtaq Hussain Khan awarded the Sangeet Natak Akademi Award for music?
Who has become the youngest Muslim to serve as the Head of the Scottish Parliament?
Regarding the U.S. legislation for the Indian Ocean Region, which statements are accurate?
1. The strategy includes provisions for promoting coop...
Who has become India's No. 1 chess player?
RBI recently increased Voluntary Retention Route (VRR) for investment limit from Rs. 1,50,000 crores to Rs. __________ crores.
Which team won the inaugural Women’s Hockey India League 2024?
Which airline would become the first airline in the world to use Solar (sun-to-liquid) fuel?