BES162/P01: Fiscal Capacity- Meaning, Implications & three Reforms to raise it

🔖Coupon Code: ‘Mrunal.org’ gives extra discount for 👨‍🏫 Mrunal’s New UPSC Prelims & Mains Courses at https://unacademy.com/@mrunal.org 📢Features of Mrunal’s Economy Course at Unacademy: 1) 👨‍🏫 Weekly live classes @night even Working Professional can attend 2) 🆎 Updated Powerpoints with…

BES162/P01: Fiscal Capacity- Meaning, Implications & three Reforms to raise it

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🔖Coupon Code: ‘Mrunal.org’ gives extra discount for 👨‍🏫 Mrunal’s New UPSC Prelims & Mains Courses at https://unacademy.com/@mrunal.org
📢Features of Mrunal’s Economy Course at Unacademy:
1) 👨‍🏫 Weekly live classes @night even Working Professional can attend
2) 🆎 Updated Powerpoints with latest budgets, economic surveys & current Affairs of Economy
3) 📑 500+ pages Rapid revision handouts, covering both Prelims & Mains, incl. Hindi translation for important terminologies. No need to purchase separate books / NCERTs.
4) 🔠 Weekly Quiz with ranking system
5) 💬 Weekly Doubt Solution to your queries.

– Fiscal Capacity is the ability of the government to generate revenue from households and industries. The latest economic survey has observed that India is less than its desirable level. This first part of the lecture covers why is this happening and what are the remedies?
– Democracy is contract between states and citizen – taxation serves as the economic glue that binds them together.
– But when government is more focused towards redistribution of wealth rather than providing quality essential public services, then uppermiddle class and rich people will either become free riders or exit from the public system. What are the negative consequences when this happens?
– Hardly 4% of the Indian voters are taxpayers, compared to about 90% in Norway Sweden and Netherlands. What are the negative consequences of this anomaly in human development of India?
– Why do USA and UK have higher fiscal capacity than India, despite the fact that they are also democracies?
– Three reforms suggested by the economic survey improve the fiscal capacity of India 1) don’t raise the income tax ceiling. 2) reduce leakages in subsidies and tax exemption 3) build a robust property tax regime.
– Goods and services tax – GST will improve the fiscal capacity of India but will play limited role in improving the democratic accountability of the states- says the economic survey, why?

– Faculty Name: You know who.
– Language: Hindi; Powerpoints: English
– Powerpoint available at http://Mrunal.org/download
– Exam-Utility: UPSC IAS IPS Civil service exam and its Preliminary (CSAT), Mains and Interview stage; and other banking exams (IBPS, RBI), Staff selection commission (SSC-CGL) and state services examinations

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