What are the key benefits of SBI Credit Cards?

SBI Credit Cards offer a wide range of benefits, including rewards, cashback, lounge access, discounts, and insurance coverage.

How can I apply for an SBI Credit Card?

You can apply for an SBI Credit Card online through the Paisabazaar platform, where you can compare card options and check for pre-approved offers.

What factors should I consider when choosing an SBI Credit Card?

Consider your spending habits, lifestyle, and financial goals to select a card that best suits your needs, such as travel, shopping, or rewards.

How can I manage my SBI Credit Card efficiently?

SBI Card offers a user-friendly mobile app and online banking services to help you manage your card, check statements, make payments, and access additional features.

What precautions should I take to avoid accumulating credit card debt?

Responsible credit card usage includes paying bills on time, managing credit limits wisely, and avoiding unnecessary spending to prevent debt accumulation.

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Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

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Retirement

1st Crore

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Tax-to-GDP Ratio

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Tax-to-GDP Ratio

Introduction

The tax-to-GDP ratio represents the government's tax revenue as a percentage of the country's Gross Domestic Product (GDP). A higher tax-to-GDP ratio indicates a stronger financial position for the country, reflecting the government's ability to finance its expenditures without relying heavily on borrowing.

Importance

A robust tax-to-GDP ratio signifies solid tax buoyancy, where tax revenue increases in line with GDP growth. This ratio highlights the government's fiscal health and its capacity to fund socio-economic development programs, military expenditures, salaries, and pensions.

India has struggled to broaden its tax base despite experiencing higher growth rates. A lower tax-to-GDP ratio limits government spending on infrastructure and puts pressure on meeting fiscal deficit targets. Although India has improved its tax-to-GDP ratio over the past six years, it remains below the OECD (Organisation for Economic Co-operation and Development) average of 34% and is lower than that of some other developing countries. Typically, developed countries have higher tax-to-GDP ratios.

How to Improve

In the 2018-19 fiscal year, India's gross tax-to-GDP ratio declined to 10.90%, falling short of the expected 16%. To increase this ratio, ensuring tax compliance is crucial. Implementing the Direct Tax Code (DTC) can enhance compliance. Additionally, rationalizing GST and adopting a two-rate system can improve enforcement and reduce tax evasion. While broadening the tax base and improving compliance are essential for increasing tax revenue, fostering higher economic growth is equally important.

Introduction

Importance

How to Improve