Volume : VIII, Issue : I, January - 2018

ROLE OF TAXATION IN HUMAN WELFARE

Ca. C. Anish, Ms. Maheshwari. M

Abstract :

 

Why Taxes are required?

            Government wants resources to run the administration of the nation. Taxes are levied from the time when the history of administration began with the rule of kings. It’s a system for collection and distribution of the surplus held by the rich to the have–not in the society. It also aspires at development of the infrastructure and investment for the welfare of the citizens. However, a country’s progress can be gauged by the efficient and effective administration rather than by the quantum of taxes collected from its constituents. Government taxes everybody and everything thus removing the disparity between the poor and the affluent at least on this score. A clean and efficient government will levy less tax but provide more welfare to the residents of the country.

How funds collected by way of taxation is utilized?

            Money collected by way of tax is utilized towards: Government loan repayments, Subsidies, Defence, Education, Energy, Food and Agriculture, Pensions, Police, Grants–in–Aid and Other Planned Expenditure.

What are the key areas of concern for India while considering utilization of funds collected by way of tax?

            India‘s towering expenditure on interest payments and defence make it difficult to allocate more money for other resources, like education and infrastructure. However, given India‘s tensions at the border and high debt levels, it would be difficult to curb these in the short–term.

How tax collected, can be put to use so as to benefit citizens of the country?

            Portion of the money collected by way of tax ,after meeting essential governmental expenditure as mentioned above, should be utilized towards social security schemes which benefits the citizen of our nation. Let peace spring and let the tax paid be used for human welfare.

Keywords :

Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

CA. C. Anish, Ms. Maheshwari. M, ROLE OF TAXATION IN HUMAN WELFARE, INDIAN JOURNAL OF APPLIED RESEARCH : Volume-8 | Issue-1 | January-2018

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