In 2004, the Union government appointed a National Advisory Council (NAC) to monitor implementation of government schemes and advise government on policy and law. NAC recommended changes to the existing Freedom of Information Act, 2002. Consequently, Right to Information bill 2004, was tabled in parliament on 23rd December 2004. This as applicable only to the […]
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In June 2013, the Central Information Commission held six political parties to be public authorities under the RTI Act and hence subject to the transparency and information requirements under the Act. The Right to Information (Amendment) Bill, 2013 Status: Lapsed The Right to Information (Amendment) Bill, 2013 was introduced in the Lok Sabha on August
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Through various judgements, it was held by the Supreme Court that people cannot speak unless the they know. Hence, the Right to Information (RTI) is a fundamental right, embedded in Article 19(1) of the Indian Constitution which specifies that every citizen has freedom of speech and expression. RTI Background Timeline In 1994, Mazdoor Kisan Shakti Sanghatan (MKSS)
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Financial statements are mainly prepared for decision making purposes. But the information as is provided in the financial statements is not adequately helpful in drawing a meaningful conclusion. Thus, an effective analysis of financial statements is required. This process of critical evaluation of the financial information contained in the financial statements in order to understand and
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Ratio Analysis describes the significant relationship which exists between various items of a balance sheet and a statement of profit and loss of a firm. Ratios provide clues to the financial position of a concern. It enables to assess the profitability, solvency and efficiency of an enterprise. Types of Ratios: There is a two way classification of ratios:
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