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Tuesday, March 24, 2020

Introduction to public finance |



Public Finance
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WHAT IS PUBLIC FINANCE?

In simple layman terms, public finance is the study of finance related to government entities. It revolves around the role of government income and expenditure in the economy.
Prof. Dalton in his book Principles of Public Finance states that “Public Finance is concerned with income and expenditure of public authorities and with the adjustment of one to the other”
By this definition, we can understand that public finance deals with income and expenditure of government entity at any level be it central, state or local. However in the modern day context, public finance has a wider scope – it studies the impact of government policies on the economy.
Let’s understand the scope of public finance to understand how public finance impacts the economy.

THE SCOPE OF PUBLIC FINANCE

Prof. Dalton classifies the scope of public finance into four areas as follows –

PUBLIC INCOME
  
As the name suggests, public income refers to the income of the government. The government earns income in two ways – tax income and non-tax income. Tax income is easy to recognize, it’s the tax paid by people of the country in the form of income tax, sales tax, duties, etc. On the other hand non-tax income includes interest income from lending money to other countries, rent & income from government properties, donations from world organizations, etc.
This area studies methods of taxation, revenue classification, methods of increasing government revenue and its impact on the economy as a whole, etc.

PUBLIC EXPENDITURE

Public expenditure is the money spent by government entities. Logically, the government is going to spend money on infrastructure, defence, education, healthcare, etc. for the growth and welfare of the country.
This area studies the objectives and classification of public expenditure, effects of expenditure in different areas, effects of public expenditure on various factors such as employment, production, growth, etc.
PUBLIC DEBT

When public expenditure exceeds public income, the gap is filled by borrowing money from the public, or from other countries or world organizations such as The World Bank. These borrowed funds are public debt.
This area of public finance explains the burden of public debt, why it is necessary and its effect on the economy. It also suggests methods to manage public debt.
FINANCIAL ADMINISTRATION
As the name suggests this area of public finance is all about the administration of all public finance i.e. public income, public expenditure, and public debt. Financial administration includes preparation, passing, and implementation of government budget and various government policies. It also studies the policy impact on the social-economic environment, inter-governmental relationships, foreign relationships, etc.
FUNCTIONS OF PUBLIC FINANCE
There are three main functions of public finance as follows –
THE ALLOCATION FUNCTION

There are two types of goods in an economy – private goods and public goods. Private goods have a kind of exclusivity to themselves. Only those who pay for these goods can get the benefit of such goods, for example – a car. In contrast, public goods are non-exclusive. Everyone, regardless of paying or not, can benefit from public goods, for example – a road.
The allocation function deals with the allocation of such public goods. The government has to perform various functions such as maintaining law and order, defence against foreign attacks, providing healthcare and education, building infrastructure, etc. The list is endless. The performance of these functions requires large scale expenditure, and it is important to allocate the expenditure efficiently. The allocation function studies how to allocate public expenditure most efficiently to reap maximum benefits with the available public wealth.
THE DISTRIBUTION FUNCTION

There are large disparities of income and wealth in every country in the world. These income inequalities plague society and increase the crime rate of the country. The distribution function of public finance is to lessen these inequalities as much as possible through redistribution of income and wealth.
In public finance, primarily three measures are outlined to achieve this target –
§      1) A tax-transfer scheme or using progressive taxing, i.e. in simpler words charging higher tax from the rich and giving subsidies to the low-income
§    2)Progressive taxes can be used to finance public services such as affordable housing, health care, etc.
§  3)A higher tax can be applied to luxury goods or goods that are purchased by the high-income group, for example, higher taxes on luxury cars.

THE STABILIZATION FUNCTION

Every economy goes through periods of booms and depression. It’s the most normal and common business cycles that lead to this scenario. However, these periods cause instability in the economy. The objective of the stabilization function is to eliminate or at least reduce these business fluctuations and its impact on the economy. Policies such as deficit budgeting during the time of depression and surplus budgeting during the time of boom helps achieve the required economic stability.
Now that we understand the study of public finance, we must look into its practical applications. So let us understand the career opportunities in public finance .

Difference Between Private and Public Finance

these are the differences between the private and public finance.
  1. Adjustment of income and expenditure: a government first prepares and estimate of expenditure and then means of raise that sum and the individual must adjust his expenditure to his income.

  2. Budgeting: the unit for the public budget is one year but an individual needs not balance his budget during a given period.

  3. Deficit financing: deficit financing is a peculiar privilege of government but an individual cannot do it, unless he is prepared to go behind the bars.

  4. Different Objectives: an individual tries to maximize his satisfaction or profit from a given amount of resources but the objective of government expenditure is to maximize social benefit.

  5. Publicity of finance: budgets are published and the widest publicity is given to them. On the other hand, the secrecy surrounds individual finance.

  6. Coercion: a government has to pass a law and compel the citizen to pay a tax while an individual lacks the coercive authority
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Friday, October 18, 2019

These 5 weird acts have been done in Salman Khan's show Bigg Boss

These 5 weird acts have been done in Salman Khan's show Bigg Boss

Many new faces are going to be seen in the 13th season of the most controversial show of Bigg Boss. Whose news has come many times, Salman Khan will be the host of this show like every time. Bigg Boss has witnessed several incidents of scuffles, fights, personal attacks, and dirty abuses several times in all 12 seasons, which changed the atmosphere of the house. Not only this, but there have also been some such dirty acts, which make the audience embarrassed by listening or watching. Let's know who are those people who spoiled the atmosphere of the Bigg Boss house. Let's know who are those people who spoiled the atmosphere of the Bigg Boss house. Let us know some special moments, Big Boss!
Benafsha and Priyank Sharma slept in a bed overnight
In Bigg Boss season 11, Benafsha slept in his bed all night with Priyank Sharma. Although Benafsha had taken the blanket separately, Bandgi and Punish got a chance and showed Hiten Tejwani that Dekho is sleeping together, as they created a ruckus about the closeness of Punish and Bandgi. After this, when Vikas Gupta came to know about this, he was enraged.
Kishwar Merchant gave water by spitting in a cup
In Bigg Boss season 9, Kishwar Merchant spits Rishabh in his glass before giving him water. Kishwar Merchant Rishabh, unaware of this act, drank that water. For this reason, Kishwar Merchant had to be embarrassed. However, after this Kishwar Merchant apologized in front of everyone.
Ali Quli Mirza's dirty act
Ali Kuli Mirza did a very dirty act with Sonali Raut in season 8 of Bigg Boss. Ali Quli Mirza had tried to touch Sonali incorrectly inside the blanket, which was revealed by Sonali Raut herself. Later, Sonali slapped Ali Quli Mirza during a show in front of everyone on national television.
Om had urinated in the kitchen
Swami Om was kicked out of the house in Bigg Boss season 10 for throwing urine on his contestants Bani J and Rohan Mehra, after which Swami Om threatened actor Salman Khan, that he along with his supporters, Bigg Boss Will reach the finale and set fire to the set and break Salman Khan's bones. Swami Om was soon arrested by the Lonavala police before he reached the set of Swami Om in Bigg Boss house.
Gautam Gulati and Diandra imprisoned in the bathroom
The eighth season of Bigg Boss was seen very close between TV actor Gautam Gulati and model Diandra. Apart from getting close to each other, they also spent time in the bathroom for a long time. The next week, Diandra had to move out of the house, but there were a lot of rumors in the news that she had become pregnant in the house, although the truth could not be known

Sunday, October 13, 2019

best couple in India 2019

These are the 5 richest couples of India, no.1 has assets over 3 lakh crore

Best of Cricket


Money and power are 2 of the most desirable things in an individual's life. Let's have a look at the 5 richest couples of India:
No.5 - Virat Kohli/Anushka Sharma

Team India captain Virat Kohli and Bollywood actress Anushka Sharma are no.5 in this list with assets worth 1000 crore.
No.4 - Raj Kundra/Shilpa Shetty


UK based industrialist Raj Kundra and Bollywood actress Shilpa Shetty are no.4 in this list with assets worth 2700 crore.
No.3 - SRK/Gauri Khan

Bollywood star SRK and his Interior Designer wife Gauri Khan are no.3 in this list with assets worth 6000 crore.
No.2 - Anand Piramal/Isha Ambani
Image result for Anand Piramal/Isha Ambani


Chairman of Piramal Group, Anand Piramal and Mukesh Ambani's daughter Isha are no.2 in this list with assets worth 30,000 crore.
No.1 - Mukesh Ambani/Nita Ambani

Reliance Industries owner Mukesh Ambani and his wife Nita are no.1 in this list with assets over 3 lakh crore. So guys what are your views on the above story? Stay connected and do share your thoughts in the comment section.

Saturday, October 12, 2019

The Biggest Mistake Your Startup is Making

The Biggest Mistake Your Startup is Making

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     Entrepreneurs always make mistakes. When you’re building a business, you will get things wrong. Everyone does. It’s part of the learning process. If you’re not failing occasionally, you’re not trying hard enough. Let me explain the biggest mistake your startup is making.

Some mistakes, though, are more significant than others—and there’s one mistake that’s the biggest of all.

It’s not a marketing mistake. To discover your audience, you will need to experiment. You’ll run ads that fail to generate a response. You’ll target the wrong demographic, appeal on the wrong platforms, and make offers that don’t resonate.
It can be annoying to launch a marketing campaign, track the figures, and not see any clicks or conversions. But each of those “mistakes” tells you something. They teach you what doesn’t work, and they let you cross one more strategy off your list of marketing ideas.

As the testing list shrinks, you will hit on approaches resonate. You’ll sharpen your strategies.

You’ll improve the messaging and add urgency to your product or service. You’ll figure out what works until eventually, through trial and error and smart adjustments, you’ll have a marketing campaign. When you finally find the correct campaign, you can set up and run whenever you launch a product.

The wrong product isn’t a mistake either, although it can feel like one.

When Hahna Alexander launched a pair of shoes that charged a battery as people walked, she thought she had the ideal solution to mobile charge anxiety. Wearers decided they preferred to put a spare battery in their bag and wear sandals.
Alexander went back to the drawing board. She changed the product slightly. Instead of powering a battery, the dynamos she’d placed in the soles would power GPS and health monitors. Now her Sole Power company is working with rescue workers, the construction industry, and the military to keep people doing dangerous jobs connected.

Product creation is always an iterative process.

You can never tell how people will use a product until they get it in their hands and are operating it. Then you can start making adjustments and create an even better product. Also, hiring the wrong people isn’t a mistake. Sure, an employee who doesn’t pull their weight or a partner who doesn’t see eye-to-eye can hold you back. But there are always solutions to that problem.

Part of the job of growing a startup is learning how to manage people.

If an employee isn’t delivering the results you want, then helping them to level up will help you to level up. It’s better to acquire those management skills when the team is still small than once the company has grown, and you’re leading a team of a hundred. Inevitably, you will have to lay people off, and you’ll need to learn how to do that too.

If a partner always disagrees, maybe you’re the problem, not them.

Maybe you’re too stuck in your viewpoint and need to learn to see things from a broader perspective. Or perhaps it’s time to break up. The end of a partnership can be even more traumatic than firing an employee, but it could give you just the break you need. None of those experiences are really “mistakes.”

There’s only one fatal mistake you can make when building a startup: not enjoying the process.

You might be dreaming of the exit and looking forward to spending the big check from Google. You may imagine yourself at the top of a giant company with your name on the building. But there’s no guarantee you’re going to reach those destinations.
There is a guarantee that you’re going to be traveling down a path. The path will be the pieces of your life, so pick up and carry those pieces. Make this life and your journey so you can enjoy it. Thinking only of the endpoint is the one mistake that will ensure you never reach it.

The Yeti X brings real-time level monitoring to the popular USB mic

The Yeti X brings real-time level monitoring to the popular USB mic

It’s clear why Logitech bought Blue back in July 2018. The Southern Californian audio company (an acronym for “Baltic Latvian Universal Electronics,” incidentally) has become synonymous with USB microphones since releasing the first Snowball back in 2005.
What seemed like a niche at the time has since become a cultural touchstone, positioning the company well to be embraced first by podcasters and then Twitch streamers. Blue’s USB mics aren’t the highest quality one can purchase for these purposes, but the plug and play functionality felt fairly revolutionary when it first hit the scene.
The company recently issued a long overdue update to its best-selling Yeti. The Yeti X is, for most intents and purposes a pretty subtle update. I’ve been using it a bit here and there for a couple of week now. I recorded the outro to the latest episode of my podcast on the thing and lent it to Anthony for a couple of episodes of Original Content.
Aside from from the spiffy black paint job, the biggest aesthetic change is the addition of a real-time LED meter that’s housed around the illuminating volume nob. It’s a small touch, but an important one for live streamers. This matter of monitoring is largely missing or a pain to access in many streaming apps, so there’s a lot to be said for being able to your levels on the fly, adjusting things back down if you peak into the red.
The sound has been improved, from three to four-capsule condensers. Yeti’s sound was already solid for the world of USB microphones, and it’s nice to see the company continue to up its game there. Some of its recent mics like the Yeti Nano have honestly felt like a step backward. The X sounds crisp, and I fully plan to use it for an upcoming remote podcasting project I have in the pipeline.
Likely I’ll look into some sort of pop filter as well — those Ps can sound pretty harsh.
It still can’t replace a good quality studio microphone, but that’s never really been the point. If you have the means and desire to create real a home podcasting studio, you’re probably looking elsewhere for your mic needs. The Yeti exists for a large and broadening category of home broadcasters — part-time Twitch streamers and podcast hobbyist will find a lot to like here.
Blue has its own software for tweaking setting, but the key is honestly the ability to essentially use it straight out of the box. Per the instructions, however, make sure to point the top of the mic straight up, rather than toward your face as you might otherwise logically do.the standard four settings on the back: stereo, cardioid, omnidirectional and bidirectional. For most podcast style applications, you’re going to want to go with the second. The oddest oversight here is the decision to stick with microUSB over the USB-C. Shipping with a dual sided USB-C cable would go a ways toward future proofing the product.
At $169, the Yeti X is positioned pretty reasonable for beginnings and is certainly a better long term investment than the $70 Snowball.


Friday, October 4, 2019

Hacking a voting machine is getting easier

     At the world’s premier hackers convention, hacking a voter system was as easy as ever, according to media reports.
A summary of the “Voting Village” event posted last week said hackers at Defcon “compromised every single machine over the 2.5-day event, many of them with trivial attacks that require no sophistication or special knowledge on the part of the attacker.”
“In most cases, vulnerabilities could be exploited under election conditions surreptitiously…an attack that could compromise an entire jurisdiction could be injected in any of multiple places,” according to a full version of the report.
Lock-picking a ballot machine used in previous U.S. elections at the DEF CON 27 Hacking Conference "Voting Village." (Alex Diaz/Fox News)
HOW TO PROTECT YOURSELF FROM RANSOMWARE USING WINDOWS 10
In many cases, physical ports were unprotected, passwords were either left unset or in their default configuration and security features went unused or in some cases, were disabled, the report added.
Attendees were given access to over 100 machines at the event, including direct-recording electronic voting machines, electronic poll books, Ballot Marking Devices, Optical scanners and hybrid systems.
One machine, based on an old PC hardware, had no BIOS password set on the machine. The BIOS (Basic Input Out System) controls the basic functions of a PC.
“Consequently, participants were able to boot an arbitrary operating system off a live CD… Ultimately, the device was used as an entertainment device, amusing visitors with Nyan Cat,” the full version of the report said.
On another system, a keyboard and Ethernet connection could be plugged in by simply removing the top of the machine’s case. The casing is secured by only by 3 screws and does not have any tamper-evident seals. “Immediate root access to the device was available simply by hitting the Windows key on the keyboard,” the report continued.
A piece of U.S. elections equipment is hacked at the DEF CON 27 Voting VIllage in Las Vegas to show an animated "nyan cat," among other things.
ELECTION MACHINE KEYS ARE ON THE INTERNET, HACKERS SAY
Another device, one that combines an optical paper ballot scanner and ballot marking device and allows for access by the blind and visually impaired, has a single locking mechanism for the entire ballot box. “If picked, ballots could easily be stolen using common items such as a standard trash picker,” the report stated.
Participants were able to access common computer ports on the device such as USB, RJ45, and CompactFlash slots on this machine “without using destructive force…[and] boot settings also allow for the system to be booted from an external USB on startup.”
The report recommended the use of paper ballots, as well as rigorous post-election audits.

Tuesday, October 1, 2019

joker 2019 review, cast, rating

Movie: Joker(2019)

Rated: 4.0/5.0

Cast: Joaquin Phoenix, Robert De Niro, Zazie Beetz, Frances Conroy, Brett Cullen

Director: Todd Phillips

The reviews for Todd Phillip's Joker from the film festival circuit have been out for a while now and they have been overwhelmingly positive and so now after finally watching the movie for myself, I can say that they were right on the money.

Joker tells the origin story of Batman's arch-enemy and is directed by Todd Phillips and stars Joaquin Phoenix in the lead along with Robert De Nero, Frances Conroy, and Zazie Beetz.
it follows the Arthur Fleck a man who works as a clown but dreams of one day becoming a successful stand-up comic, Arthur lives with his sick mother who he looks after.
Now this movie is an interesting character study into how Arthur Fleck transformers into the Joker thanks to some great direction and a good screenplay.
But the stand is Joaquin Phoenix and his performance. Now, Joaquin Phoenix is always been a great actor and given some amazing performances in the past but this has to be his best till date his flawless transformation into Arthur and his various eccentricities are incredible to watch, the way he balances between terrifying and tragic makes is nothing short of awe-inspiring.
The supporting cast which includes Robert De Nero, Zazie Beatz, and Frances Conroy does a great job and helps Arthur's character gets fleshed out more as he interacts with each of them.
From a technical standpoint, this movie is great to look at thanks some amazing cinematography by Lawrence Sher, the music by Hildur Guðnadóttir is also a standout along with the song choices in the movie which seem to fit in flawlessly with the narrative.
The one small flaw I felt the movie had has how it tries to attach itself with Batman and his mythos this at times felt a bit on the nose but is not a glaring issue and does not take away from the overall experience.
Overall, Joker is an amazing movie and is definitely a must-watch even if you are not well versed in comic book movies this movie truly changes the definition of that term and is powerful, dark and offers a hard look into what truly creates a monster.

Sunday, September 29, 2019

These 10 TV stars earn more than film stars, knowing Kapil’s fees you will be surprised

                          
Nowadays the popularity of TV is increasing day by day. The number of people watching TV in India is in crores. TV stars are also no less than Bollywood stars. TV stars have made a mark in the house. There are some TV stars whose popularity is more than the famous Bollywood stars of today. As many people follow them, they do not do any Bollywood star either. You will be surprised to know that the actors working on TV also charge a good fee. Their fees are also not less than any Bollywood star. In this post today, we will introduce you to some actors of TV industry whose fees are more than Bollywood actors.
Shraddha Arya - 80 thousand per episode



Drishti Dhami - 1 Lakh per episode


Karan Patel - 1 Lakh per episode


Divyanka Tripathi - 1.25 to 1.5 lakhs per episode


Hina Khan - 1.5 Lakh per episode


Ronit Roy - 2 lakhs per episode



Sunil Grover - 10 to 12 lakhs per episode


Bharti Singh - 1.5 million per episode


Krishna Abhishek - 15 to 18 lakhs per episode


Kapil Sharma - 25 to 30 lakhs per episode