355. Fact

Budget
Annual estimate of expenditure and revenue of a country or a subordinate authority like a corporation.

356. Fact

Bill of exchange
Written order by a drawer to pay sum on given date ot named payee.

357. Fact

Buyer's market
An economic phenomenon where there are more goods in market than demanded and so the buyers can dictate the prices of goods.

358. Fact

Clearing house
Place where officials of the banks meet daily to exchange cheques drawn on the respective banks and settle the account by the payment of balances only.

359. Fact

Cooperative farming
Joint farming wherein farmers pool their land, capital and resources and divide the produce at the end of the harvest in proportion to their land put in the pool. The farmers retain their proprietary rights.

360. Fact

Ceiling on land and holding
Imposition of a maximum limit of the land which an individual should have. Its purpose is rational distribution of land.

361. Fact

Death duty (estate duty)
A sort of tax imposed on the property inherited at death of its previous owner.

362. Fact

Devaluation
Government's step to reduce the value of its own currency relatively to a foreign currency. It aims to increase exports and reduce imports.

363. Fact

Deflation
A monetary state characterised by decrease in the supply of money and bank deposits and falling profits, wages, incomes and employment accompanied by unemployment and falling prices.

364. Fact

Demonetisation
The governmental measure of depriving metallic coins or paper currency od specified denominations of its status money. It is meant to unearth the hidden money which is unaccounted for purpose of income tax assessment.

365. Fact

Excise duty
Duty levied on goods manufactured within the country.

366. Fact

Foreign exchange
Transfer of money of one country to another.

367. Fact

Inflation
Increase in the quality of money in circulation without any corresponding increase in goods; so, it leads to rising prices spiral.

368. Fact

Laissez faire
An individualistic theory advocating private initiative in trade and non-interference by state in commercial or business ventures.

369. Fact

Lockout
Closure of a factory by owners to force the workers to accept the imposed terms.

370. Fact

Malthusian theory of population
It states that the food supply increase in arithmetical progression while population increase by geometrical progression resulting in over-population.

371. Fact

Octroi
Tax imposed on articles coming inside a city.

372. Fact

Public sector
Applies to state enterprises or undertaking.

373. Fact

Recession
An economic phenomenon characterised by excessive production, less demand, tight money market.

374. Fact

Soft currency
Currency of a country with which we have favourable balance of trade.

375. Fact

Sterling area
Group of countries of commonwealth (except canada) keeping their reserves in sterling and not gold or dollars.

376. Fact

Tariffs
Measures undertaking by one country to protect industry against trade competition from outside.

377. Fact

Apartheid
Policy of racial segregation practiced by the south african government.

378. Fact

Adjournment
A motion moved by a member of a legislature to adjourn consideration of the issues in hand for discussing a matter of urgent public importance.

379. Fact

Amnesty
Grant of pardon or exemption from prosecution to political importance.

380. Fact

Armistice
Temporary cessation of hostilities pending formal negotiations for peace.

381. Fact

Appeasement
The policy of gratifying one's enemy with concession and special grants by sacrificing even principles.

382. Fact

Autonomy
Power to control internal affairs.

383. Fact

Bilateral agreement
An agreement between two countries.

384. Fact

Blockades
Imposing closure of ports and waterways to prevent ships from reaching or leaving it.

385. Fact

Bolshevism
The doctrine of proletarian dictatorship as propounded by lenin.

386. Fact

Bourgeoise
Capitalist class in marxian terminology.

387. Fact

Buffer state
A small neutral state between two big states.

388. Fact

By-election
A mid term election to fill a seat rendered vacant.

389. Fact

Casting vote
A vote casting of which decides the tie.

390. Fact

Caucus
A powerful group of party.

391. Fact

Charged affairs
The senior most diplomat after the head of the mission, officiating in his absence.

392. Fact

Coalition
Combination of two or more parties with the purpose of forming a composite government.

393. Fact

Confederation
Alliance of nations for some specific purpose our retaining the respective individual nation sovereignty.

394. Fact

Cold war
The state of ideological or wordy warfare between two countries or blocks.

395. Fact

Envoy
A diplomatic emissary accredited to the country and holding position below that of an ambassador.

396. Fact

Fifth column
An anti-national clique of spies and saboteurs.

397. Fact

Floor crossing
The act of changing political loyalty by a person or a group.

398. Fact

Franchise
Right to cast vote in the public elections.

399. Fact

Gallup poll
An opinion poll-may be with the help of interview.

400. Fact

Genocide
Intention to destroy wholly or in part a religious, ethnic or political group.

401. Fact

Gherao
Encircling a person and rending him incapable of doing anything till he/she concedes demands.

402. Fact

Glosnost
Means openness. Term used for reforms introduced in russian society by m.gorbachov.

403. Fact

Habeas corpus
A type of a writ issued by a high court or supreme court against illegal detention of a person.

404. Fact

Hot line
A direct telephone link between the white house and kremlin established in 1963.

Book
Book : canvass of life
Author : sheila gujral.      .. More >>