India happens to be a rich country inhabited by very poor people.Public debt of a state refers to the total debt of the state government raised through bonds, securities,etc. Trickle-down theory is based on the premise that, the benefits of economic policies that help the wealthy trickle down to everyone else. Normally, these policies mean tax cuts to the big businesses. The assumption is that the extra money due to tax cuts will be used to invest in business, expand production, and hire more workers which will lead to more money in the hands of those in lower income brackets as well. The increased purchasing power will drive demand, further stimulate production and economy, as a whole improvment . Illustration.: In the 10 years between 2001 and 2011, India enjoyed a high GDP growth rate except during global financial crisis in 2008. India was the 13th largest in the world by nominal GDP in 2001 but climbed up to 10th position in 2011. During the same period, as per Forbes, the number of dollar billionaires (people with $100 crore or more personal wealth) in India went up from 4 to 55.Their combined wealth too went up from a mere $14 billion ($3.5 per head) to a whopping $247 billion ($4.5 per head). But, in the same period, India’s ranking in the United Nations Human Development Index slipped from 115 to 134. Alarmingly, there is a clear indication of the ‘jobless growth’, as the growth in the number of regular workers nearly halved in 5 years between 2005 and 2010 when compared to 5 years between 2000 and 2005. Is the governmet developing the nation by exploiting its people ?! If there is investment in policies ( made for the welfare of the people) is the output reaching the targeted group or the businessman are benefiting.?! Reha Mohan 17bal101
According to me people in India don't pay tax not because they think it their money but because they are not able to see the change or benefits to country after the tax the buget is made everything happens on paper but their is no charge in society so as a result people would think instead of given money to those political partys they would keep it with them If the government take step and show that the money given is tax is given return to country then don't u think people will pay tax Manav Patel 17 BAL028
India is a developing nation which has been rapidly developing in the past few years. We can see that the per capita debts of Maharashtra and Gujarat and highest that is Rs.25,000 and Rs.30,000 respectively which is not questionable at all as compare it to Uttar Pradesh, West Bengal and Arunachal Pradesh. Maharashtra and Gujarat are quite developed states of India, it might be on the basis of infrastructure, technology, financial conditions, environmental conditions, political developments etc.
Compare the economies of the above states India’s most competitive state Maharashtra beat Gujarat, the rice bowl of India: Andhra Pradesh has topped economy, in Andhra Pradesh rice constitutes more than 71% of the agriculture sector. Maharashtra becomes the best-performing state by shipping goods worth $72.83 billion in 2014 and 2015 at the same time Gujarat exported product worth $59.58 billion Tamil Nadu was the third largest state with export was $27.47 billion If we compare the overall growth of Of Indian states it is found that UP has grown 18.3% as compared to the level in 2014 and 2015 followed by Haryana, Gujarat and Maharashtra So if this is the conditions of every state in India then I think taking debts is fair but until and unless it doesn’t cross the boundaries leading in economic depression, reduction in forex reserves economic crisis etc. Simran kaplish 17bbl049
4 comments:
India happens to be a rich country inhabited by very poor people.Public debt of a state refers to the total debt of the state government raised through bonds, securities,etc.
Trickle-down theory is based on the premise that, the benefits of economic policies that help the wealthy trickle down to everyone else. Normally, these policies mean tax cuts to the big businesses. The assumption is that the extra money due to tax cuts will be used to invest in business, expand production, and hire more workers which will lead to more money in the hands of those in lower income brackets as well. The increased purchasing power will drive demand, further stimulate production and economy, as a whole improvment .
Illustration.: In the 10 years between 2001 and 2011, India enjoyed a high GDP growth rate except during global financial crisis in 2008. India was the 13th largest in the world by nominal GDP in 2001 but climbed up to 10th position in 2011. During the same period, as per Forbes, the number of dollar billionaires (people with $100 crore or more personal wealth) in India went up from 4 to 55.Their combined wealth too went up from a mere $14 billion ($3.5 per head) to a whopping $247 billion ($4.5 per head).
But, in the same period, India’s ranking in the United Nations Human Development Index slipped from 115 to 134. Alarmingly, there is a clear indication of the ‘jobless growth’, as the growth in the number of regular workers nearly halved in 5 years between 2005 and 2010 when compared to 5 years between 2000 and 2005.
Is the governmet developing the nation by exploiting its people ?!
If there is investment in policies ( made for the welfare of the people) is the output reaching the targeted group or the businessman are benefiting.?!
Reha Mohan
17bal101
According to me people in India don't pay tax not because they think it their money but because they are not able to see the change or benefits to country after the tax the buget is made everything happens on paper but their is no charge in society so as a result people would think instead of given money to those political partys they would keep it with them
If the government take step and show that the money given is tax is given return to country then don't u think people will pay tax
Manav Patel
17 BAL028
India is a developing nation which has been rapidly developing in the past few years. We can see that the per capita debts of Maharashtra and Gujarat and highest that is Rs.25,000 and Rs.30,000 respectively which is not questionable at all as compare it to Uttar Pradesh, West Bengal and Arunachal Pradesh. Maharashtra and Gujarat are quite developed states of India, it might be on the basis of infrastructure, technology, financial conditions, environmental conditions, political developments etc.
Compare the economies of the above states India’s most competitive state Maharashtra beat Gujarat, the rice bowl of India: Andhra Pradesh has topped economy, in Andhra Pradesh rice constitutes more than 71% of the agriculture sector.
Maharashtra becomes the best-performing state by shipping goods worth $72.83 billion in 2014 and 2015 at the same time Gujarat exported product worth $59.58 billion Tamil Nadu was the third largest state with export was $27.47 billion
If we compare the overall growth of Of Indian states it is found that UP has grown 18.3% as compared to the level in 2014 and 2015 followed by Haryana, Gujarat and Maharashtra
So if this is the conditions of every state in India then I think taking debts is fair but until and unless it doesn’t cross the boundaries leading in economic depression, reduction in forex reserves economic crisis etc.
Simran kaplish
17bbl049
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