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Land utilisation

  LAND UTILIZATION  Land is a scarce resource, whose supply is fixed for all practical purposes. At the same time, the demand for land for various competing purposes is continuously increasing with the increase in human population and economic growth.Land use pattern at any given time is determined by several factors including size of human and livestock population, the demand pattern, the technology in use, the cultural traditions, the location and capability of land, institutional factors like ownership pattern and rights scale regulation. Major Types of Land Utilization in India : As in all other countries, land in India is put to various uses. The utilization of land depends upon physical factors like topography, soil and climate as well as upon human factors such as the density of population, duration of occupation of the area,land tenure and technical levels of the people.There are spatial and temporal difference in land utilization due to the continued interplay of phys...
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GST compensation

GST COMPENSATION 

The Central government convinced most of the states to merge their indirect taxes under GST. States indirect tax revenue growth was measured for three years before 2015-2016 and it was observed that their indirect tax revenue average growth was 14%.So, states were promised that they should not worry about their indirect tax revenue growth after implementation of GST and in case there is shortfall, they wil be compensated from GST Compensation fund.This exits only for five years i.e from 1st july 2017 to 30th june 2022.

There was major tax revenue decline in the pandemic year 2020-2021 and cess collection was not enough to compensate the states but however central government agreed to provide compensation to the states and it will continue even after 30th june 2022.

Important issues of GST
a) The technology platform could not be firmed up for a long time which led to large scale misuse of input tax credit. 
b) This is only source of revenue for states and considering their increased spendings, they would like to mitigate revenue uncertainty. 
c) The structure of GST needs significant changes and states are necessary to carry put required reforms. 

Need of amendment
a) Almost 50% of consumption price index are in exemption list. 
b) It is necessary to bring petroleum products, real estates, alcohol for human consumption, electricity into GST. 
c) The present structure is complicated based on four main rates (5%,12%,18%,28%).

GST as only the source of state revenue, states should be assured of 14% revenue growth for another 5 years i. e 1st july 2022-june2027.Thus, extending compensatiom payment is essential as to provide comfort to states to partake in the reform.

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