Ayussh Sanghi is teaching live on Unacademy Plus
APPROACH TO INDIAN ECONOMY 1.6 PRESENTED BY AYUSSH SANGHI
ABOUT ME Passionate about Teaching >Taught at most reputed Civil Services Institutes >CA, Lawyer Follow me on: https://unacademy.in/user/ AyusshSanghi
UNIT V FISCAL POLICY Let's Discuss this in separate components: (a) Fiscal Measures (b) Annual Financial Statements (c) Indian Taxation Regime (d) Planning
UNIT V FISCAL POLICY In this slide I would In this slide I would be discussing the first component: (c) Indian Taxation Regime (d) Planning
UNIT V - FISCAL POLICY c) Indian Taxation Regime O How is Indian Taxation Regime oriented and divided? o What kind of Taxation Structure do we have: o Progressive Regressive o If Progressive then which are the taxes which are levied on citizens? O If Regressive then the components of taxes levied? o Which one has more contribution in the total tax collection of the Government?
UNIT V FISCAL POLICY (c) Indian Taxation Regime Types of Taxes in India: Direct Tax - Corporate Tax, Income Tax Wealth Tax Indirect tax Excise Tax, Customs, VAT, Service tax
UNIT V FISCAL POLICY (c) Indian Taxation Regime Other Taxes like o Ad Valorem tax o Tobin Tax, o Cess, o Surcharge
UNIT V FISCAL POLICY (c) Important Terms pertaining to Taxation o What is a Tax Base? o What is Tax Expenditure? o What is the difference between Tax avoidance& Tax evasion? o What are Tax Havens? o Concepts like: Tax elasticity, > Tax Buoyancy, Laffer curve Crowding-out
UNIT V FISCAL POLICY (c) Taxation Reforms Taxation Reforms Direct Tax Code (DTC) o General Anti-Avoidance Rule (GAAR), o Goods and Service Tax (GST) Goods and Service Tax (GST) o What are they and Why are they required?
UNIT V FISCAL POLICY (c) Taxation Reforms Example: o Goods and Service Tax (GST) o Its Purpose/ Need o Advantages and disadvatages of GST Issues with regard to implementation of GST o How to compensate for the loss of taxes to be deleted?
UNIT V - FISCAL POLICY (d)Planning o What is Planning? o Relevance of Planning in India? o Institutions involved in Planning in India and the genesis behind having a 5YP? o A general idea on how planning has evolved over the years (since Independence) How planning takes place at the State and National level
BE CAREFUL While preparing for the above make notes of contemporary issues pertaining to: o Latest committees set-up with regard to Fiscal and Economic Reforms like: Financial Sector Legislative Reforms Commission (FSLRC) Financial Action Task Force (FATF), o Financial Stability and Development Council (FSDC) O Nachiket Mor committee etc.
PRELIMS 2014 The main objective of the 12th Five-Year Plan is A. Inclusive growth and poverty reductions B. Inclusive and sustainable growth C. Sustainable and inclusive growth to reduce unemployment D. Faster, sustainable and more inclusive growth Solution (d)