WebJan 18, 2024 · The average monthly income of an Indian agriculture household was estimated at Rs 6,426, with a wide-spread disparity across states, ranging from Rs 18,059 in Punjab to Rs 3,558 in Bihar, according to Agricultural Statistics 2024, based on the Assessment Survey of Agricultural Households (January-December 2013). WebGNP is the value of all final goods and services produced by the residents of a country in a financial year. While Calculating GNP, income of foreigners in a country is excluded but income of people who are living outside of that country is included. The value of GNP is calculated on the basis of GDP. GNP = GDP + X – M.
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WebFeb 27, 2024 · Tax Reforms. Corporate income tax was lessened to 46% from 51.75% for public enterprises. The average customs responsibility was drastically reduced to 65% from 200%. The highest marginal rate of private income tax was lowered to 40%, 56%, in June 1991. ... Economic Reforms in India UPSC. WebNeed for Direct Tax Reforms. Rationalization of income tax structure as the tax rate structure – slabs of 10%, 20% & 30% in personal income tax - has mostly remained the … razorpay checkout codepen
DAILY CURRENT AFFAIRS IAS UPSC Prelims and Mains Exam – …
WebNov 4, 2024 · Effective tax rate for all domestic companies would now be 25.17% – nearly 10% less than the existing 34.94%, providing they don’t avail any exemptions. New … WebElectoral Reforms Pre-2000 Lowering of Voting Age: The 61st Amendment Act to the Constitution reduced the minimum age for voting from 21 to 18 years. (read about important amendments in the Indian Constitution, in the linked article.) WebJan 31, 2024 · In India’s case while the overall tax-to-GDP (Centre and State) increased from 17.45% in FY08 to 17.82% in FY17, the GDP and per capita income have doubled during this period. Interestingly, India’s rate of growth of tax revenues was not in sync with its GDP growth in the post-reforms period. Thus, India must aim to double its tax-to-GDP ... razorpay case study