Question

UNIT-V
What is progressive taxation?
b) Write any four merits and any four
demerits of progressive taxation 4+4-8
What is public debt?
Explain the role of public debt in the
context of economic development​

Answer 1

Answer:

Explanation:

A progressive tax is imposed to raise the tax rate effectively more than the rate at which it was applied. It is characterised by a more than proportional rise in the tax burden relative to the increase in income