ranjan

Managing Public finances is a vital source of development policies of the Govt. leading to poverty alleviation and growth. It is management of country's Revenue (e,g, tax collections), Expenditure, Debt loads, Budget, Deficit/Surplus. Good policies can do and sail whereas good management of public finances contributes to make trust. The key elements of  perfect financial management are: i)   Fiscal framework ii)  Budget preparation iii) Budget execution iv) Accounting and sequencing of  reforms  v) Control and audit It promotes- a) How Govt. allocates resources, b) Promote sustainability, and c) Transparency and oversight mechanisms. It is the responsibility of the Govt. to implement fiscal policy through Budget. Sometimes informal laws of behaviour becomes important but priortising and sequencing of activities are essential as also basics. Following issues be taken into account while making public finance policy. I)   Management of reso...

  Indian Rupee and Devaluation  Indian Rupee was settled at Rs.13/- per pound and dollar @ Re.1/-  in 1947 after partition. It continued up to 1966 when first devaluation took place. This was carried out since Govt, was consistently facing balance of payment deficit since 1950 and failure of Govt. efforts to revive and have positive trade balance Moreover, war with Pak in 1965 and cutting off of foreign aid by USA and other countries fueled the crisis.Rise in fuel prices all around did put pressure on inflation as well.  In 1991, second devaluation took place due to downward pressure on Indian Rupee from international markets. It was a part of Economic reforms.The restrictions were relaxed on imported capital goods. Import Export policy replaced import quotas with tariffs causing major overhaul of trade policy Devaluation is undertaken as a means of correcting deficit in balance of payments.        Foreign Exchange variations and causes F...

As the saying goes, one should not be too honest since straight trees are cut at ease. It is a factual statement.We were taught never to quit the job since we expect that we are following wiser people than ourselves. These are feelings of most of the people who have suffered due to exercising their duties honestly since some people sitting at the helm of affairs of the institution feels delighted in blaming them for their own faults. Since they are at a good position they consider themselves as taken for granted. In the course of performing duties, some misunderstandings are created by Seniors themselves without going into the performance record of employees who have dedicated their life in bringing up the institutions. The result are so severe that they are asked to quit abruptly for no fault of theirs. Such situations do cause a damage to the institution in the long run. So, this is how the price, honest employees has to pay which has got no option as to where to go.    ...

 Corruption emanates from individual's mind.  The attitude in the human mind is the sole fabricator of one's behaviour. If not used in a proper manner, it can create wrong actions in the mind of person who when acts, leads to corruption. A view of the the following shall do well to understand such action:-  It was during British rule, before independence, an employee working in the Deptt. was found to be corrupt. Since he was a loyal worker, he was transferred to the port and duty was to count the sand bags put into sea to stop the waves hitting at shore. After some time, he was found to be making wrong entries in the record as more bags were shown as used than actually done and making money from the difference of bags shown in records and actual bags put in.  Thereafter, he was transferred to and job was to count the waves hitting the shore and going back. The report was to be sent by mail to Head office at the close of the day. Since 2nd World war was going o...

Inflation has been a cause of burden on economy of a country throughout the world. Of the main reasons, few are like - Rise in demand of Goods and services more than capacity, exchange rates variations thereby reducing value of money, increase in money supply than economic growth, increase in taxation, CRR rates etc. The burden of inflation is a slow process on the economy by increasing cost of living (rise in prices of food, goods and services ), increase in cost of doing business ( in industry, agriculture). In fact, it grips around almost all the economic activities in the country.  At present, inflation in goods and services caused is due to increase in fuel prices in India. Frequent discussions are observed in press and media at different platforms with different groups ending up with no direction/ solution to the matter. It is understood that the reasons stated are -   i) Cost to the company, ii)  Tax by Central Govt. and iii) Tax by State Govt. Taken toge...

 Hello friends, welcome to world of Ranjan Sethi  Having worked in the Accounts and Finance domain since 1970 in various capacities in Industry, Chambers of commerce, a reputed institute of India (where I worked for a major part of my life), as again re-employed in the same Institute after my retirement. During my career, I have completed various assignments time and again in performing my duties and managed them with hard work, team building and dedication. I have joined the Institute at the time after its inception in 1973 and would like to share my views as to how institutions are built, managed and run successfully. Education is a process of gaining knowledge and skills through studies and training. The first and foremost part of getting this part is by joining a school/institution which can create a student with more skills and knowledge to compete with and make his/her status in the society. Following steps will be useful for incorporation of such Management trai...