- Habitat III is United Nation UN conference on housing and sustainable Urban Development
- which will be held in Quito Ecuador in October 2016
- sustainability and
- empowering the local government
- eliminating poverty
- skill development
- universalization basic services including affordable housing and insurance
- a sustainable Habitat through energy efficient building and transport
India voiced its concern for reforms in World Bank and IMF
The reforms in bretton wood institutes should reflect the share of developing countries in the Global economy. significant increase in capital of multilateral lending agency to meet the financial need of developing countries Breton wood Institute should play mazor role by financing and implementing the plans to achieve the sustainable development goals
Different types of deficits
Revenue deficit is excess of total revenue expenditure of the government over its total revenue receipts. It is related to only revenue expenditure and revenue receipts of the government. Alternatively, the shortfall of total revenue receipts compared to total revenue expenditure is defined as revenue deficit.
Revenue deficit signifies that government’s own earning is insufficient to meet normal functioning of government departments and provision of services. Revenue deficit results in borrowing. Simply put, when government spends more than what it collects by way of revenue, it incurs revenue deficit. Mind, revenue deficit includes only such transactions which affect current income and expenditure of the government. Put in symbols:
Revenue deficit = Total Revenue expenditure – Total Revenue receipts
Fiscal deficit is defined as excess of total budget expenditure over total budget receipts excluding borrowings during a fiscal year. In simple words, it is amount of borrowing the government has to resort to meet its expenses. A large deficit means a large amount of borrowing. Fiscal deficit is a measure of how much the government needs to borrow from the market to meet its expenditure when its resources are inadequate.
In the form of an equation:
Fiscal deficit = Total expenditure – Total receipts excluding borrowings = Borrowing
Primary deficit is defined as fiscal deficit of current year minus interest payments on previous borrowings. In other words whereas fiscal deficit indicates borrowing requirement inclusive of interest payment, primary deficit indicates borrowing requirement exclusive of interest payment (i.e., amount of loan).
The Orissa Government urban housing mission
Pradhan Mantri Awas Yojana focus on providing houses to all urban poor.
2015 Nobel Peace prize is awarded to National dialogue quartet which played a major role in Tunisia
Spending limits in election
Representation of People Act 1955 does not prescribed the limit for electoral spending but it is left for Election Commission of India which from time to time define the electoral spending limits. there has been a debate in the nation for government financing of elections the supporters are of the view that it will minimize the corrupt activities during elections.
Key reasons for this year decline in food inflation
- Proactive food Management by the government by clamping down on holding and allowing imports of pulses
- Restricted hike in minimum support prices MSP
- Restrictive fiscal policy and also help in keeping demand under check
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