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प्रश्न
Explain clearly tour ways by which the state can promote economic growth and development.
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उत्तर
Role of State in Economic Development:
- The provision of economic infrastructure is mainly the government's responsibility, which is essential for economic development.
- Capital formation is an essential condition for economic development. The state can use its fiscal and monetary policy to generate resources for capital formation. In our country, public sector investment in industries and expenditure on infrastructure has led to huge capital formation.
- Basic and heavy goods industries require huge investment and have a long gestation period. The private sector is reluctant to invest in the development of these industries, but our government has established such industries.
- Economic development in India would be incomplete without agricultural development. The government can promote agricultural development by providing various facilities and incentives to the agricultural sector.
संबंधित प्रश्न
Which of the following is an advantage of direct taxes?
Fiscal policy means public expenditure and tax policy of the government.
Which of the statement is true for income tax?
Define fiscal policy.
Define Indirect tax
Citing reason state the advantage of a progressive tax over proportional tax.
To which tax is this shifting of tax burden relevant?
An indirect tax can be made progressive by imposing higher tax rates on luxuries. Justify the above statement.
How does the state fulfil the following socio-economic objective?
Environmental protection.
Explain the state's role in achieving the objective of social justice in less developed countries.
