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SLC Script

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soni.kshitij
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22 views

SLC Script

Learn to make scripts

Uploaded by

soni.kshitij
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SLC script

K: I have a question; what are government policies? (ask parents). Government policies are
actions or rules imposed for the welfare of public. Example: Increasing Employment and
reducing poverty. Today, we are going to cover the topic: supply side policy. Supply side
policy consists measures taken to increase agg supply. Agg supply is the total amount of
goods and services that firms want to supply at a certain price level. We will get to how that
is achieved later but, first why is it done. Well, you see to increase supply, a firm needs to
increase its production; To do so, firms employ more workers. As a result, unemployment
decreases. As you may know, one of the leading causes of poverty is unemployment, thus
this also helps reducing poverty.
[By the time Harshit has drawn the mind map on the board]
H: Now, I will explain how is done. Firstly, The government can provide improved education
and training.

K. Secondly, the government can also lower direct taxes and increase incentives.

H: Thirdly, the government can take another action called deregulation.

K. Furthermore, the government can also implement privatization.

H: Addition to that, the government can impose labour market reforms.

K. Finally, the government can give subsidies to firms.

[By the time I am speaking about subsidies, Harshit will draw the curve]
Aggregate supply curve:
Real GDP: GDP at constant prices and so not adjusted for inflation
Aggregate Demand shape: When price of a product is high, consumers will purchase it less,
so its demand will be low. And when the price decreases, people tend to demand and
purchase it more. Demand is inversely proportional to price.
Aggregate Supply shape: when the supply is at this point, many resources in the economy
are unused(the straight part) so there is no contingent rise in price when supply is increased.
When the supply increases, less resources are available and there is more competition
between firms so their cost of production increases and price rises at a faster rate.
[Harshit will give an explanation]
The Budget
We are only going to refer to some declarations specific to supply side policies.
Firsts I will talk about employment-centric schemes.
1. Employment(3 schemes)
 Scheme A: First Timers – It will provide 1 month wage to all first people newly
entering the workforce in all formal sectors. The transfer benefit will be up to
15000 rupees paid in 3 installments on a eligible salary of up to 1 lakh per
month. It will act as a incentive to people to join the workforce
 Scheme B: Job creation in manufacturing sector. It will incentivize both
employee and employer, based on the contribution in epfo for 4 years. The
employe provident fund.
 Scheme C: Support to employers. It counts all additional employment in all
sector within a salary of 1 lakh per month. It will reimburse epfo contribution
up to 3000rs for 2 years
2. Participation of women in labour force: The government will increase this through
setting up working women hostels and creches along with women specific skilling
programs.
Secondly, the new tax regime:
1. The standard deduction has increased from 50 000 to 65 000
2. Tax slabs
 0 to 3: exempted
 3 to 7: 5%
 7 to 10: 10%
 10 to 12: 15%
 12 to 15: 20%
 >15: 30%

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