In which area is the public sector most dominant in India?

 

Microeconomics deals with the 

* Allocation of resources of the economy as between production of different goods and services.

* Determination of prices of goods and services.

* Behavior of industrial decision makers.

In economics, If two goods are complements, then the cross elasticity of demand is negative. That means a good's demand is increased when the price of another good is decreased. Conversely, the demand for a good is decreased when the price of another good is increased. It is opposite of substitute goods. 

Deficit financing implies public expenditure in excess of public revenue.

• The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget.

• It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry.

• It is the ministry's view on the annual economic development of the country.

Airtel Payments Bank is the first payment bank in India. A payments bank is a new category of banks conceptualized by the Reserve Bank of India, which operates at a smaller scale than an actual bank and doesn't involve any credit risk. It can carry out most banking operations but can't advance loans or issue credit cards.

The RBI as of date has given licences to 11 payments bank of which six are currently operational. These include

1. Aditya Birla Payments Bank,
2. Airtel Payments Bank,
3. India Post Payments Bank,
4. Fino Payments Bank,
5. Jio Payments Bank (and)
6. Paytm Payments Bank.

In the aggregate expenditures model, it is assumed that investment does not change when real GDP changes.

• The aggregate expenditure is the sum of all the expenditures undertaken in the economy by the factors during a specific time period.

• The aggregate expenditure determines the total amount that firms and households plan to spend on goods and services at each level of income.

"Take Off Stage" in an economy means Steady growth begins.