Economics

The difference between G.D.P at market price and G.D.P at factor prices is called net indirect tax. GDP (FC) and GDP (MP) minus indirect taxes plus subsidies is the net direct tax. 

Negotiable instruments are written orders or unconditional promises to pay a fixed sum of money on demand or at a certain time. Hence, a fixed deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. 

Marginal Standing Facility (MSF) is a window for banks to borrow from the Reserve Bank of India in an emergency situation, when inter-bank liquidity dries up completely.

Base rate is decided in order to enhance transparency in the credit market and ensure that banks pass on the lower cost of fund to their customers.

The transfer of ownership of property or business from a government to a privately owned entity. 

Repo rate is the rate at which the central bank of a country lends money to commercial banks in the event of any shortfall of funds.

The budget in which income and expenditure are not equal to each other is known as unbalanced budget.

The specified amount of payment required periodically by an insurer to provide coverage under a given insurance plan for a defined period of time.

The part of national economy made up of private enterprises. It includes the personal sector (households) and corporate sector (companies), and is responsible for allocating most of the resources within an economy.

Primary sector industries are engaged in production or extraction of natural resources such as crops, oil and ores. Primary sector contribution in national income is approximately 70%.

The environment in which the issuance and trading of debt securities occur

The capital of a company is divided into shares. Each share forms a unit of ownership of a company and is offered for sale so as to raise capital for the company.

The debtor is referred to as a borrower. If the debt is in the form of securities, such as bonds, the debtor is referred to as an issuer.

A type of economic activity that is intangible, is not stored and does not result in ownership. A service is consumed at the point of sale.

A demand deposit is an account with a bank or other financial institution that allows the depositor to withdraw his or her funds from the account without warning or with less than seven days notice.

Through fiscal policy, regulators attempt to improve unemployment rates, control inflation, stabilise business cycles and influence interest rates in an effort to control the economy.

The balance of trade is the official term for net exports that make up the balance of payments. The balance of trade can be a "favorable" surplus (exports exceed imports) or an "unfavorable" deficit (imports exceed exports). The official balance of trade is separated into the balance of merchandise trade for tangible goods and the balance of services.

Income Tax is a tax that governments impose on financial income generated by all entities within their jurisdiction. If anyone opens or invests in the Tax Saver Deposit Account scheme in a bank, then they would be eligible for benefit under income tax.

Total Income is the sum of all money received by an individual or organisation, including income from employment or providing services, revenue from sales, payments from pension plans, income from dividends, or other sources. Thus, capital formation in an economy depends upon its total income generation.

Insurance Regulatory and Development Authority controls the insurance sector in India. It is an autonomous apex statutory body.