Advertisements
Advertisements
Question
How does the state fulfil the following socio-economic objective?
Promoting industrial growth.
Answer in Brief
Advertisements
Solution
- Industrialisation is a process of growth and expansion of industries in a country. The government can come forward for the establishment of basic industries (e.g. steel industry, heavy chemical industry) which are generally not taken up by the private investor for want of risks and huge investments.
- The state can also provide various inputs at subsidised prices to encourage private investment in industries.
- The government can provide relief to certain industries in the shape of lowering the taxes so that they could compete with foreign industries.
shaalaa.com
Role of State in Economic Development
Is there an error in this question or solution?
Chapter 6: The State and Economic Development - QUESTIONS [Page 167]
APPEARS IN
RELATED QUESTIONS
Fiscal policy means public expenditure and tax policy of the government.
Identify the tax which is most likely to faster civic conciousness.
Wealth tax is an example of:
Which of the statement is true for income tax?
Define Indirect tax
What are progressive taxes.
Give two reasons why the government imposes tax?
State two drawbacks of direct taxes.
How does the state fulfil the following socio-economic objective?
Environmental protection.
Explain the following with examples:
Progressive tax
