Good Economics

[youthens]

The concept of good economics differs from person to person. However, economics connotes any product or services and their co-relation. Good economics in easy terms denotes increase in demand of products which in return increases income. It can as well be defined as a material object or service that has value to people and can be sold for an upbeat price in the market. However, good economics means where demand and income has a co-relation and they go hand in hand, i.e. increase in demand of a product or service that leads to increase in income.

 

[Bharatiya]

The concept of good economics differs from person to person. However, economics connotes any product or services and their co-relation. Good economics in easy terms denotes increase in demand of products which in return increases income. It can as well be defined as a material object or service that has value to people and can be sold for an upbeat price in the market. However, good economics means where demand and income has a co-relation and they go hand in hand, i.e. increase in demand of a product or service that leads to increase in income.

So the question arises, Is Indian Economy a good economy? We certain do have an increase in demands of the products, almost in all the industrial sectors. But the rise in income is not proportional to what people are spending. Probably, that could be due to heavy taxes levied. But then how do taxes affect an economy? I have few questions in my mind. Firstly, to what extent should a government levy taxes on its citizens (keeping the per capita income in mind). Should the rich be taxed more for a healthier economy? How do you see India from the perspective of various tax slabs for the people. Is it good for India?