Countercyclical fiscal policy
A counter-cyclical fiscal policy refers to strategy by the government to counter boom or recession through fiscal measures. It works …
Read MoreFiscal devolution
Fiscal devolution refers to the transfer of central government’s tax revenues to the states. Besides the taxes, the new cooperative …
Read MoreHorizontal equity
Horizontal equity in taxation implies that people with the same ability to pay (same income) should be taxed at the …
Read MoreVertical Equity
In taxation, vertical equity means that the burden of the tax is equally borne by different categories of people. Here, …
Read MoreFinance Commission
Finance Commission is a constitutional body formed in every five years to make recommendations about the transfer of central government’s …
Read MoreDivisible pool
Divisible pool refers to the taxes of the central government that it should share with the sub national or state …
Read MoreDebt GDP Ratio
Debt to GDP ratio indicates debt of the government as a percentage of GDP. It shows the level of indebtedness …
Read MoreTax GDP Ratio
Indicate the tax revenues of the government as a percentage of GDP. At present, the tax GDP ratio of the …
Read MoreTax planning
Tax planning is framing of a financial plan by the tax payer in advance to minimize tax payment. Tax planning …
Read MoreTax Mitigation
Tax mitigation is a situation where the taxpayer uses a fiscal incentive (tax concession) available to him in the tax …
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