Components of Money Supply, Four Modes of Services, Direct and Indirect Taxes

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Components of Money Supply

Components of Money Supply
M1Consists of currency with the public (i.e.. notes & coins in circulation minus cash with the banks)

plus, demand deposits with the bank (deposits which can be withdrawn without notice) plus other deposits with RBI (usually negligible) . Also called narrow money

M2Ml + saving deposits + Certificate of Deposits (CDs) + term deposits maturing within a year.
M3M2 + term deposits with maturity more than a year + term borrowing of banking system. Also known as broad money.
L1M3 + all Deposits with the Post Office Savings Banks (excluding National Savings Certificates)
L2L1 + Term Deposits with Term Lending Institutions and Refinancing Institutions (Fis) + Term Borrowing by Fls + Certificates of Deposit issued by Fls; and
L3L2 + Public Deposits of Non-Banking Financial Companies

Four Modes of Services Ullder GATT

Table Supporting: Four_Modes_of_Services_Ullder_GATT
Mode 1Cross border trade, which is defined as delivery of a service from the territory of one country into the territory of other country;
Mode2Consumption abroad - this mode covers supply of a service of one country to the service consumer of any other country;
Mode3Commercial presence - which covers services provided by a service supplier of one country in the territory of any other country, and
Mode4Presence of natural persons - which covers services provided by a service supplier of one country through the presence of natural persons in the territory of any other country.

Direct & Indirect Taxes

Table Supporting: Direct________Indirect_Taxes
Direct TaxIndirect Tax
Corporation TaxExcise Duties
Income TaxService Tax
Interest TaxCentral Value Added Tax (Vat)
Expenditure TaxSales Tax
Wealth TaxProperty Tax
Gift TaxOctroi
Estate DutyCustoms Duties
Land RevenueStamp Duties

Commissions/Committees & Their Purpose

Table Supporting: CommissionsCommittees________Their_Purpose
Atjun Sen Gupta CommitteePublic Sector Enterprise Autonomy
Rangarajan CommitteeDisinvestment of PSUs & Balance of Payments.
Malhotra CommitteeInsurance Sector & its regulation. Follow up led to setting up of iRDA.
Madhukar CommitteeGold exchange traded fund implementation.
L. C. Gupta CommitteeDerivatives in India Model
Naresh Chandra CommitteeCorporate Audit & Governance
JJ Irani CommitteeCompany Law
B. Bhattacharya CommitteeCommittee on pension reforms
Rakesh Mohan CommitteeSmall saving & Administered interest rates
Viiay Kelkar CommitteeFRBM (fiscal responsibility & budget management) Act implementation
S. P. Gupta CommitteeGeneration of Employment opportunities in the 10՚ ″ plan.
Raghavan CommitteeReplacement of MRTP act by competition act.
EradiPanelIndustrial Insolvency.
M. S. VermaRestructuring weak banks
Lakdawala CommitteeEstimating Poverty line in India
Montek Singh AhuluwaliaPower Sector reforms
Rakesh Mohan CommitteeDevelopment of Infrastructure in India
Abid Hussain CommitteeSmall Scale Sector
Jha CommitteeMODVAT
Vasudev CommitteeNBFC
Omkar Goswarni CommitteIndustrial Sickness
G. V. RamakrishnaDisinvestment Commission
Arvind VirmaniImport Tariff Reform
Valhul CommitteeMoney Markets India reforms

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