Why do you think the government should provide financial and other support to start-up business in your country?
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Answered by
1
Whenever a Government creates a problem, it's its duty to fix it as well.
PM Modi announced a lockdown at a notice of 4 hours. The nation was caught of guard and since most of India's economy is unorganised, thousands of businesses got crushed under the severity of the lockdown.
These are some more problems created by the lockdown.
- Economic Crisis: Lowest GDP growth since independence and extremely high unemployment rates.
- Migrant labour walked to their death as the government watched.
- The COVID case trajectory kept worsening, and at one point of time India had the highest number of daily cases.
- Poaching, logging increased and the environment ministry auctioned large swathes of forests.
This is why it should support them. COVID hit them hard and the government bruised them further. It should now turn a new leaf and help them.
Answered by
0
The Government of a country supports new business to:
- Create employmnet: Jobs are created for local workers who will earn income which can improve their living standards.
- Corporation tax: The government will enhance tax revenues from taxes paid by businesses. This can be used to fund projects or even offer subsidies.
- Economic growth: There will be economic growth through increased productivity of output, This will enhance a country's GDP
Hope this helped
- Miles
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