The expenditure tax was levied on the total expenditure of an individual or Hindu Undivided Family (HUF) above a certain threshold. The idea behind the tax was to discourage consumption and encourage saving and investment. However, it faced practical difficulties in implementation and yield and was eventually abolished.
Expenditure tax in India was introduced by
Asked in TNPSC CS Prelims 2014 · Topic: Fiscal Policy & Revenue (Sources of Government Revenue: Tax and Non-Tax Revenue)
More Economic Development questions
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