Subject: Economics
Book: Comprehensive Indian Economy
India’s tax system comprises direct taxes (income tax, corporate tax) and indirect taxes (GST, customs, excise). GST subsumed numerous state and central levies, simplifying compliance and unifying markets. Ongoing reforms include rationalizing tax slabs, broadening the base, and improving digital compliance (e-filing, e-way bills). From an exam standpoint, note the difference between progressive and regressive taxation, how TDS works, and the rationale behind occasional surcharges or cesses. Contemporary debates revolve around reducing corporate tax rates to spur investment while ensuring enough revenue to fund welfare programs.
Which of the following is an example of a capital receipt for the government?
View QuestionWhich organization is responsible for estimating India’s Gross Domestic Product (GDP)?
View QuestionWhich of the following is a characteristic of “perfect competition”?
View QuestionWhich of the following is NOT an example of a direct tax?
View QuestionWhat is the meaning of “dumping” in international trade?
View QuestionWhat is the main function of the Reserve Bank of India (RBI)?
View QuestionWhat is the term for goods that are used together, such as cars and fuel?
View QuestionWhat does “balance of trade” refer to?
View QuestionWhich of the following best describes “capital formation”?
View QuestionWhat is “quantitative easing”?
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