Tax Structure And Its Economic Implications In India

The Indian economy has experienced a decrease of 18.3% in the economic growth in the second quarter of 2020, the outcome of which was a net growth of just 23.9%. In addition, the fact retains the ranking of India due to pandemic. India is recorded to be the third-worst affected country due to the pandemic by the outbreak of COVID-19.[1] The outbreak of the virus has adversely affected the economy of India, where the businesses were shut and natives didn’t have much of a source for generating income, not only this, the individuals spent a large portion of their savings to survive the period of lockdown and even now, when the lockdown is lifted. The money flow in the economy has come to a stagnant position.

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