Question

Economic relief is being provided to the industry and commerce sector in the form of special tax rates, exemptions, rebates, deductions, deferrals, credits etc. The objectives of this relief includes which of the following :

Code:

• A. 1,2 and 4 only
• B. 2,3,4 and 5 only
• C. 1,3 and 5 only
• D. All of these

Answer 1

The correct option is D

All of these

Economic relief is being provided to the industry and commerce sector in the form of special tax rates, exemptions, rebates, deductions, deferrals, credits etc. Economic relief are provided in accordance with certain policy priorities of the government and to achieve targeted outcomes. The objectives include inter alia encouraging savings and capital investment in the economy, balanced regional development, promoting social equity, creation of infrastructure facilities, employment generation, rural development, industrial development, promoting skill development and entrepreneurship, research and development, cooperative sector, domestic manufacturing and provide a level playing field for Indian exports in the international markets. Relief is also provided in an area based approach to promote industry and commerce in identified backward areas.