Skip to main content

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...

TAX

Tax
Meaning of tax : A tax is a compulsory payment by an individual,a family or a firm made to government for use in common interests of all without any claim for in return for contribution made . It has to be paid by the person on whom it is levied.It is considered as largest source of public revenue.It must be spent on general welfare  after it has been collected e.g municipal committee will spend on water, road , electricity and property taxes.

Objectives 
a) The most important objective of taxation is to increase government's income.As public expenditure rises,taxation is increased.
b) Taxes like income tax, property tax is to reduce the inequality of income between different sections of society.
c) In order to restrain people from consumption of intoxicants , heavy taxes are imposed to make them expensive.
d)Another objective of taxation is to promote exports and reduce imports so that burden of foreign exchange is kept to minimum.
e) Taxes are imposed in scarce resources like coal and petroleum,so that their export is discouraged by higher prices resulting from taxation.
f) Tax is imposed on particular area as a punishment for repeated loss of public property resulting from irresponsible behavior of citizens.

Features
a) Tax is a compulsory payment . Non payment to tax leads to punishment.
b) Tax involves some sacrifice to the tax payer.
c) Income collected through taxation is spent for public welfare.
d)The individual who pays tax cannot claim in equal amount of benefit in return.
e) Payment of tax is personal responsibility of an individual.
f) Tax imposition follows a legal procedure. It is levied in accordance with certain law.
g) It is contribution to revenue of government so that they can provide administrative services for governing the country.
h) It is levied according to legal procedure. Non tax payers are punished by the law.

Comments

Popular posts from this blog

Role of capitalism

ROLE OF CAPITALISM IN DEVELOPING ECONOMY Capitalism is that part of the economics where there is no role of government agencies. The sole supe power of capitalism is in the hands of private owners. This means that if private is working on the behalf of government, instead of social welfare, their main objective is to have profits. Features Lack of intervention of government. Role of private firms. Role of price mechanisms. Advantages Encourages innovation Efficient firm incentives Consumers can choose services of their choice. Prevents government from interrupting. Creates climate of innovation and economic expansion. Helps in increasing GDP. Disadvantages Firms can gain monopoly power. Externalities damages the environment. Prone to boom and bust in the economic cycles. Inequality creates social division. Capitalist market crashes causes economic downturn , uneven business cycles. There is difficulty in mobilising unprofitable sector into profitable sectors. By taking advantage of poo...

Tokenization

Tokenization  Tokenization is the process of turning sensitive data into non-sensitive data called "tokens" that can be used in a database or internal system without bringing it into scope.  •It can be used to secure sensitive data by replacing the original data with an unrelated value of the same length and format.  •The tokens are then sent to an organization’s internal systems for use, and the original data is stored in a secure token vault. •The purpose of tokenization is to swap out sensitive data—typically payment card or bank account numbers—with a randomized number in the same format but with no intrinsic value of its own. •Tokenization is the process of removing sensitive data from your business systems by replacing it with an undecipherable token and storing the original data in a secure cloud data vault.  Token will be unique for a combination of card, token requestor (i.e. the entity which accepts request from the customer for tokenisation of a card and p...

Investment Multiplier

INVESTMENT MULTIPLIER The number of times by which the increase in ∆Y exceeds the increase in investment is called as Investment Multiplier.  Investment Multiplier or output multiplier refers to the number of times by which the increase in output/income ∆Y exceeds the increase in investment ∆I. It is measures as the ratio between change in output /income and change in investment.                                      k = ∆Y / ∆I Where k is the multiplier. Relationship between Multiplier and Marginal propensity to consume (MPC) There is direct relationship between Multiplier and MPC . Higher the value of MPC ,higher the multiplier .                   K =1 / 1- MpC This is because of the given reasons : a)Additional investment means additional expenditure in the economy, additional expenditure means additional income . b) Higher the value of MPC ,...