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The Indian Economy Since 1991, 2nd Edition by B. A. Prakash

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Glossary

Administered prices: The prices that are set by management decision rather than by negotiation between buyer and seller. Management sets most retail and industrial prices though they will be altered in response to the competition.

Ad valorem tax: A tax proportional to the price of the object being taxed. It is a common form of sales tax and is often preferred to specific taxes. They are also preferred since their real value is not eroded by inflation.

Ageing populations: The population ageing is represented by an increase in relative number of older persons in a population and is associated with an increase in the median age of the population. The age structure of a population is determined by its mortality, fertility and net migration. ...

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