Kushal Pens

The timeline of Nepalese budgetary system in ascending order.  Reader have to keep in mind, the dates or FY metioned below is in B.S. (Bikram Sambat) which is fifty seven years faster than A.D. approximately. (source of image is internet) Prime minister under whom budget was firstly introduced Matrika Prasad Koirala Finance Minister who announced 1 st budget from Radio Nepal amounted cost of Nepalese rupee 5.25 crore Subharna Shumsher JBR on 21 st Magh, 2008 BS Fiscal year onward altered from starting 1 st baisakh to Last chaitra to starting 1 st shrawan to last ashad FY 2009/10 onward The process of classifying budget according to its performance started in Nepal FY 2009/10 onward Public budget of Nepal divided into General and Development budget FY 2013/14 onward Budget of Nepal presented in Unitary Currency (Nepali), previously it Indian currency also used to get space in cu...

Light on the kinds of assumptions used in Economic Theories. Before going in deep let me show you the assumption used in perfectly competitive market as an example. 1. There are large number of buyers and sellers present in the market. 2.  Sellers have homogeneous products to offer. 3. Buyers and sellers must be free from any kind of discrimination. 4. Both buyers and sellers are well-informed on prices of product. 5. Firms have free entry and exit facility in the market. 6. Factors of production are mobile. 7. All firms in market aims for profit maximization (social welfare is ignored by firms.) 8. There is no counting of selling and transportation cost. This above eight points are underlying conditions that need to be present in any market to be said it a perfectly competitive market. Hence, the assumptions are underlying belief that should be there to give theory validation. In economics each and every theory have certain assumption under which the...