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Question
The state can promote economic development by ______.
Options
Establishing basic heavy capital goods industries
Establishing socialistic pattern of society
Creating infrastructural facilities
All of the above
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Solution
All of the above
Explanation:
The state can promote economic development through these measures:
- By setting up industries that produce essential capital goods, the state can lay the foundation for industrialization and economic growth.
- Infrastructure development, such as building roads, ports, power plants, and communication networks, is crucial for facilitating economic activities and attracting investments.
- By promoting social equity and welfare through policies that reduce income inequality and ensure fair distribution of resources, the state can create a stable and conducive environment for economic development.
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RELATED QUESTIONS
The government imposes tax ______.
The following table indicates:
| Tax Base in ₹ | Rate of tax in % |
| 10,000 | 8 |
| 20,000 | 8 |
| 30,000 | 8 |
| 40,000 | 8 |
Wealth tax is an example of:
Which of the following taxes generate civic consciousness among people?
Match the following:
| Column I | Column II | ||
| A. | Direct tax | (i) | Tax rate increases with tax base |
| B. | Indirect tax | (ii) | Tax rate remains constant |
| C. | Proportional tax | (iii) | Imposed on goods and services |
| D. | Progressive tax | (iv) | Impact and incidence lie on the same person |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Income tax is a direct tax.
Reason (R): GST is an indirect tax.
Define Indirect tax
Classify the following types of tax into direct and indirect taxes:
- Entertainment tax
- Income tax
- House tax
- Sales tax
Draw a neat labelled diagram for progressive taxation.
How does the state fulfil the following socio-economic objective?
Promoting industrial growth.
