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.
SEBI has came out with exhaustive guidelines for Investor Protection Fund (IPF) and Investor Services Fund (ISF) maintained by stock exchanges and depos...
The central Bank (RBI) buys the government security with the agreement of the resale of the security at a rate called:
The Reserve Bank of India (RBI) has approved HDFC Asset Management Company (HDFC AMC) to acquire some stake each in DCB Bank, Karur Vysya Bank, Federal ...
How many rural houses does the government aim to build under PMAY-Grameen in the next five years?
What are the two core areas of research for the International Centre of Excellence for Dams (ICED), IISc Bangalore?
The new regulations on UPI transactions will come into effect from January 1,2024.Consider the following statements with respect to the information pr...
The governments of ____& _____ have signed an agreement for the settlement of an inter-state boundary dispute between the two States which will end the ...
Consider the following statement about Lachit Borphukan:
1. Recently, the Prime Minister of India paid tributes to Lachit Borphukan on Lachit D...
The Great Barrier Reef which is recommended to be put into the danger list by the UN panel is located in _____.
Recently on 20th April, 2022, the ‘SAANS Campaign’ has been launched by which state in India?