Volume 3 | Issue 3 |

 Abstract

Elasticity of tax is the rate of proportionate change in the tax revenue due to change in GDP while tax buoyancy is the composite of the change in tax revenue due to change in GDP and change in tax rate and tax base.To date, many developing countries still face difficulty in raising tax revenue to thelevel required for promotion of economic growth. A poor tax performance, in terms ofraising revenue can mean either deficiencies in tax structure policy or an inadequateeffort to collect, on the part of the government, both of which are influenced byvarious factors.The goal of indirect tax reform is to have asingle goods and services tax (GST) that isapplied on all firms. This would involve VATcredits running across all kinds of firms inthe economy. The use of a single rate wouldeliminate political lobbying about rates, andeliminate problems of classification. Theuse of a single rate is neutral to the natureof activity of the firm, thus removing one source of tax-induced distortions in resourceallocation.The average percentage change of 0.827 percent in Service Tax for 1 percent change in value of services in GDP indicating that the tax buoyancy of Service Tax for the study period is very high and significant.

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Tax Buoyancy,Service Tax, Elasticity of Demand and Supply, regression analysis, demand absolutely inelastic.

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FDI is an important source, a cradle of development and an essential component in the growth strategy of both developed and developing countries and hence the policies are designed and framed in such a mannerso as to stimulate inward FDI. It is a major source of finance from foreign countries which means that countries with meagre amounts of capital can attract finance influx from other wealthier countries. FDI has been one of the crucial player in China's exponential economic growth. It creates a lucrative/profitable situation for both - the host and the home countries. It promotes an open business climate, and helps in building advanced technologies and promotes advanced employee training programs, besides helping Government revenue to multiply. FDI inflow in the last two and a half decades, stimulated by globalization and liberalization of the Indian economy has played a complementary role in bridging

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prises as a mother ensures her kids against the en

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what the forces of globalisation have in

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The present paper aims at reviewing the various developments in Corporate Governance in India. The emergence of new technologies in the era of globalisation and liberalisation entirely changedthe nature of business transactions. By the evolution of business life cycles business transactions became very complex and managing risk became a challenging task for the organisations. Concerns about corporate governance in India weshad Mehta stock market scam of 1992 followed by incidents of companies allotting preferential shares to their promoters at deeply discounted prices

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re, however, largely triggered by Har

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FDI inflow in the last two and a half decades, stimulated by globalization and liberalization of the Indian economy has played a complementary role in bridging the gap and filling the massive lag between domestic investments and saving. It is a preferred source of funds from foreign countries for the simple reason that they are not debt creating and are not volatile thus reducing the associated risk and their returns depend upon the projects financed by the investor, which means that the amount of return is in control of the investor to a certain degree.

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for the simple reason that they are not d

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Creative Commons Attribution 4.0 and The Open Definition

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Gandhi firmly believed that the essence of swadeshi consisted in producing enough cloth to wrap each Indian, which would be possible through spinning and weaving by the masses. The people needed to pledge themselves to the use of swadeshi cloth

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h spinning and weaving by t

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Creative Commons Attribution 4.0 and The Open Definition

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growth strategy of both developed and developing countries and hence the policies are designed and framed in such a mannerso as to stimulate inward FDI. It is a major source of finance from foreign countries which means that countries with meagre amounts of capital can attract finance influx from other wealthier countries. FDI has been one of the crucial player in China's exponential economic growth. It creates a lucrative/profitable situation for both - the host and the home countries. It promotes an

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nential economic growth. It creates a

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of many different communities and religions live together in harmony. Indian Population is polygenetic and is an astonishing merger of various races and cultures. Besides, numerous castes, there are eight "major" religions, 15-odd languages spoken in various dialects and a substantial number of tribes and sects.

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ions, 15-odd languages spok

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