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Public Expenditure: Meaning & Nature,Canons/Principles of Public Expenditure   Meaning Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision, infrastructure, etc. Throughout the 19th Century, most governments followed laissez faire economic policies & their functions were only...

Principle of Maximum Social Advantage   The ‘Principle of Maximum Social Advantage’ was introduced by British economist Hugh Dalton. Public Finance” is concerned with income & expenditure of public authorities and with the adjustment of one with the other. Budgetary activities of the government results in transfer of purchasing power from...

Posted on Apr 26 2016 - 9:13am by Preeti
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Difference Between Public and Private Goods    Public goods have two distinct aspects: nonexcludability and nonrivalrous consumption.  Non rivalry means consuming good doesn’t reduce amount available to other people and Non excludable means once provided you can’t stop anyone consuming it.Private good, a product or service produced by a privately owned...

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Special Contracts Indemnity The term ‘Indemnity` Simply means ‘Making Somebody Safe` or ‘Paying Somebody back`. Section 124 of contract Act defines that ‘‘A contract by which one party. Promises to save the other from loss caused to him by the conduct of the promise himself by the conduct of any other person, is called a conduct of indemnity”. The party...

Performance of Contract Regarding the performance of contract Section 37 of the Act states that the parties to a contract must either (i) perform their respective promises or (ii) offer to perform the same; (iii) such performance is dispensed with or (iv) excused under the provisions of the Act or of any other law. Time and Place of Performance Sections 46-49 provide...

function onYouTubeIframeAPIReady() { var player; player = new YT.Player('muteYouTubeVideoPlayer', { videoId: 'LxT9CZe__YM', // YouTube Video ID width: 560, // Player width (in px) height: 316, // Player height (in px) playerVars: { autoplay: 1, // Auto-play the video on load controls: 1, ...