explain contribution to public exchequer
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Answer:
nine important roles played by public sector in Indian economy, i.e., (1) Generation of Income, (2) Capital Formation, (3) Employment, (4) Infrastructure, (5) Strong Industrial Base, (6) Export Promotion and Import Substitution, (7) Contribution to Central Exchequer, (8) Checking Concentration of Income and Wealth, and (9) Removal of Regional Disparities.
Answer:
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Explanation:
Public sector companies made a higher contribution to the government exchequer by way of taxes and duties in 2010-11 compared with the preceding year. But the ratio between the contribution made by the companies to the exchequer and their total income declined due to new duty concessions.
The contribution to the exchequer normally includes excise duty, sales tax, wealth tax, income tax, fringe benefit tax and deferred tax. The contribution to the exchequer for 50 public sector companies (central and state) fell by 2.6% to R93,613 crore in 2009-10 from R96,177 crore in 2008-09 and rose by 16.3% to R1.09 lakh crore in 2010-11. The ratio of contribution made to exchequer to total income increased from 9.65% in 2008-09 to 9.73% in 2009-10 and fell to 9.41% during 2010-11.