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• Statement 1 is correct: The direct taxes, consisting mainly of corporate and personal income tax, constitute around 55 per cent of Gross tax revenue. The contribution of different taxes in GTR (FY23 BE) are: • Statement 2 is Incorrect: GST collections have been a major source of revenue. They have been on the rise crossing 1.49 lakh cr in 2022 from 0.90 lakh cr in 2018. However, contrary to the trend year 2021 saw a dip in collections. This is better shown below:
Income effect states that as price of a good falls, demand rises since there is rise in
Due to which of the following reasons increase in absolute and per capita real GNP do not connote a higher level of economic development?
Which one of the following transactions will be considered as a transfer payment?
What should be done in an economy to reduce the effects of recession?
Which of the following is not a method to calculate GDP?
Which of the following statement best describe the role of a “deflator”?
The term ‘Gross’ is being used for Gross Domestic Product (GDP) because its computation does NOT exclude which of the following factors?
Price elasticity of demand of a horizontal demand curve is called:
Which of the following issues are the reasons behind the inflation in Indian Economy?
Which of the following should be excluded while calculating Gross national Product?