Estate Duty : A pattern of death obligation and a procedure of direct taxation, enforced when the house is moved on the death of its owner. It has been eradicated in India but was reintroduced in a restricted way in 1988.
EURO : The European Union announced to insert a widespread currency for its constituent nations, called EURO. Eleven of the fifteen nations acquiesced to become constituents of the widespread currency presented on Jan. 1, 1999. Four nations are expected to become constituents later. By 2002, it is wanted that the localized currencies will go away and restored by EURO.
Excise Duty : It is the obligation ascribed on items constructed inside the country; excise obligations on alcoholic beverage, tobacco, sugar, match-box, cIoth, etc., have been levied by the Government of India.
Floating Currency : On account of too broad a fluctuation between the authorized and unofficial rates for diverse currencies of the world, some of the nations determined not to rectify any specific rate of the currency vis-a-vis other ones and let the worth be very resolute on a every day basis.
Foreign Exchange : The procedure by which transactions in worldwide trade are financed.
Fixed Exchange Rate : When the exchange rate of the currency is repaired by the worried government and it can only be altered either by devaluation or revaluation.
Floating Exchange Rate : A position in which the exchange rate of any currency is very resolute by the forces of demand and provide for this currency. Today rupee is furthermore bobbing and its exchange rate with other currencies is very resolute by the demand and supply. Periodically the Reserve Bank of India broadcasts the exchange rates of rupee with other currencies. The exchange rate is calculated by taking mean worth of basket currencies.
Free Trade : A tariff scheme which delicacies foreign trades and dwelling made items on the identical cornerstone, either levying both identically or exempting both.
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