Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

How did goods and service tax help in achieving the goals of sustainable development?

Options:

Effective utilisation of public funds in fulfilling the social objectives

Improved the ease of doing business

Reduced multiple cascading taxes

All of the above

Correct Answer:

Effective utilisation of public funds in fulfilling the social objectives

Explanation:

The purpose of this initiative was to bring more and more businesses into the formal economy so that effective taxation could take place. Effective taxation ensures that public funds are effectively utilised in fullfilling the social objectives of sustainable development.