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Question
Give two examples of direct taxes.
Answer in Brief
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Solution
Examples of direct tax are as follows:
- Income tax
- Corporate tax
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Role of State in Economic Development
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Chapter 6: The State and Economic Development - QUESTION BANK [Page 187]
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RELATED QUESTIONS
The government imposes tax ______.
Fiscal policy means public expenditure and tax policy of the government.
The following table indicates:
| Tax Base in ₹ | Rate of tax in % |
| 10,000 | 8 |
| 20,000 | 8 |
| 30,000 | 8 |
| 40,000 | 8 |
State two objectives of fiscal policy.
Distinguish between fiscal policy and monetary policy.
Give one example of progressive tax.
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?
Reducing income inequality.
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.
