GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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investment pattern has been directed towards capital intensive industries
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productivity in agriculture has been high enough to induce people to stay with agriculture
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ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture
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people are largely unaware of the significance of transition from agriculture to industry for economic development
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Detailed explanation-1: -On ability to pay for the benefit is the benefits received principle of taxation to achieve optimality bases.
Detailed explanation-2: -benefits received-A concept of tax fairness that states that people should pay taxes in proportion to the benefits they receive from government goods and services. Summary. Two criterion used to measure fairness in taxes are benefits received and ability to pay.
Detailed explanation-3: -Ability to Pay. The main difference between the two forms of taxation is what is used to calculate an individual’s tax bill. The benefits-received approach taxes the benefits an individual receives from a public good or service, while the ability-to-pay approach taxes you based on what you earn.