Bank Terms -Fiscal Deficit

Fiscal deficit is an economic phenomenon, where the Government's total expenditure surpasses the revenue generated . It is the difference between the government's total receipts (excluding borrowing) and total expenditure. Fiscal deficit gives the signal to the government about the total borrowing requirements from all sources.

Components of fiscal deficit
The primary component of fiscal deficit includes revenue deficit and capital expenditure.

Revenue deficit: It is an economic phenomenon, where the net amount received fails to meet the predicted net amount to be received.

Capital expenditure: It is the fund used by an establishment to produce physical assets like property, equipments or industrial buildings. Capital expenditure is made by the establishment to consistently maintain the operational activities.

In India, the fiscal deficit is financed by obtaining funds from Reserve Bank of India, called deficit financing. The fiscal deficit is also financed by obtaining funds from the money market (primarily from banks).

Arguments: Fiscal deficit lead to inflation
According to the view of renowned economist John Maynard Keynes, fiscal deficits facilitates nations to escape from economic recession. From another point of view, it is believed that government need to avoid deficits to maintain a balanced budget policy.

In order to relate high fiscal deficit to inflation, some economists believe that the portion of fiscal deficit, which is financed by obtaining funds from the Reserve Bank of India, directs to rise in the money stock and a higher money stock eventually heads towards inflation.
Expert recommendation
Financial advisors recommend that the Government should not promote disinvestment to reduce fiscal deficits. Fiscal deficit can be reduced by bringing up revenues or by lowering expenditure.

Impact
Fiscal deficit reduction has an impact over the agricultural sector and social sector. Government's investments in these sectors will be reduced.

Officers and Clerk recruitment in United Bank of India

UNITED BANK OF INDIA, 11, Hemant Basu Sarani, Kolkata – 700001

United Bank of India invites online applications from Indian citizens for following posts :

* Probationary Officers : 900 posts, Age : 21-30 years.
* Company Secretary : 01 post, Age : 21-40 years.
* Economist : 01 post in, Age : 21-40 years.
* Statistician : 01 post in, Age : 21-40 years.
* Forex/Treasury : 10 posts in, Age : 21-40 years.
* CA/ ICWA/ CFA : 40 posts in, Age : 21-35 years.
* Law Officer : 15 posts in, Age : 21-35 years.
* Risk Management : 05 posts in, Age : 21-35 years.
* Pesronnel/ HR : 15 posts in, Age : 21-35 years.
* Official Language : 12 posts in, Age : 21-30 years.
* Probationary Cash cum General Clerk : 500 posts, Age : 21-28 years.

Important Dates :

1. Opening Date for On-Line Application : 30.03.2009
2. Closing Date for On-Line : 27.04.2009
3. Last date for receipt of Print out of the System Generated Applications : 04.05.2009
4. Last date for receipt of Print out of the System Generated Application from Far Flung areas. : 11.05.2009
5. Date of written Test for Clerk : 28.06.2009
6. Date of written Test for Probationary Officers : 21.06.2009
7. Date of written Test for Specialist Officers : 14.06.2009

Fee : Rs.400/- for Officers and Rs.200/- for Clerks (Rs. 50/- for SC/ST/PH candidates) should be send by Bank DD or by Banker's cheque/ Pay Order favouring "United Bank Of India Specialist Officers Recruitment Project 2009" and "United Bank Of India Clerical Recruitment Project-2009" payable at Mumbai.

How to Apply : Apply Online. Take a printout of the system generated application form and send it to the desired address on or before 04/05/2009:

Candidate kindly visit http://www.unitedbankofindia.com/recruitment.asp to view all the details and online submission of the application.