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 organization is responsible for estimating India’s Gross Domestic Product (GDP)?
View QuestionWhat is the main function of the Reserve Bank of India (RBI)?
View QuestionWhat is the objective of the Pradhan Mantri Jan Dhan Yojana?
View QuestionWhat is a “repo rate”?
View QuestionWhich term refers to an economy that has elements of both capitalism and socialism?
View QuestionWhich of the following measures is most effective in controlling inflation?
View QuestionWhat is the meaning of "fiscal deficit"?
View QuestionWhich of the following is NOT an example of a direct tax?
View QuestionWhich organization publishes the Human Development Index (HDI)?
View QuestionWhat does the Gini Coefficient measure?
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