Explanation:
GST aims to create a common national market, eliminate the cascading effect of taxes through input tax credit, and simplify the indirect tax structure.
Explanation:
Fiscal drag occurs when inflation pushes taxpayers into higher tax brackets, increasing tax revenue without any change in tax rates, acting as an automatic stabiliser.
Explanation:
The Gini coefficient, Lorenz curve and Theil index are standard measures used to quantify the degree of inequality in the distribution of income or wealth.
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