Nature of Indian Economy
- What do you understand by 'regressive taxation'?
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A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.
Correct Option: A
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. a Regressive tax imposes a greater burden (relative to resources) on the poor than on the rich- there is an inverse relationship between the tax rate and the taxpayer's ability to pay as measured by assets, consumption, or income.
- What does term 'Green shoots' represents in an Economy ?
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Green shoots is a term used colloquially and propagandistically to indicate sings of economic recovery during an economic downturn.
Correct Option: B
Green shoots is a term used colloquially and propagandistically to indicate sings of economic recovery during an economic downturn. It was first used in this sense by Norman Lamont, the then Chancellor of the Exchequer of the United Kingdom, during the 1991 recession.
- There are in equalities in income and wealth distribution in India. This implies that
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Correct Option: B
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- Economic liberalisation in India started with
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Correct Option: A
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- The 'Dual Economy' is a mixture of
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Correct Option: A
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