Regressive tax
A regressive tax is the one where tax liability of the individual decreases with taxable income. Here, the tax …
Read MoreProgressive tax
A progressive tax is the one where tax liability of the individual increases with taxable income. Here, the tax …
Read MoreCentrally Sponsored Schemes (CSS)
After the fourteenth finance commission award, the Central Government schemes are divided now into central sector schemes and centrally …
Read MoreCentral Sector Schemes
After the fourteenth finance commission award, the Central Government schemes are divided now into central sector schemes and …
Read MoreCompetitive Federalism
Under competitive federalism, the various federal government units – the centre competes with states and vice-versa, and states compete …
Read MoreCooperative Federalism
According to the International Conference on Cooperative Federalism, “Cooperative Federalism is a concept of federalism in which national, state, …
Read MoreMedium-term Fiscal Policy Statement
The Medium-term Fiscal Policy Statement is presented as part of the General Budget. It is mandated by the Fiscal …
Read MoreFiscal Policy Strategy Statement
The Fiscal Policy Strategy Statement, presented to Parliament as per the FRBM Act. The Strategy Statement outlines the strategic …
Read MoreMacro-economic Framework Statement
The Macro-Economic Framework Statement, presented to Parliament as per the Fiscal Responsibility and Budget Management Act, 2003. The FRBM …
Read MoreRetrospective taxation
A retrospective tax law is one that takes effect from a date before it is passed. In India the retrospective taxation issue became controversial when …
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