Economics • Indian EconomyMedium
In the budgetary allocations of Himachal Pradesh, what constitutes a major component of the state's own tax revenue streams?
A. Customs duties on international maritime trade
B. State excise duty, sales tax/VAT on petroleum products, and stamp duties✓ Correct Answer
C. Corporate income tax levied on software parks
D. Union excise duties collected by central authorities
💡 Solution & Explanation
State own-tax revenues heavily comprise state excise duties on liquor, value-added tax on fuels, and stamp duties on property transactions, forming the bedrock of fiscal autonomy. Customs duties and corporate income taxes fall under central taxation jurisdictions. Central tax devolutions supplement state receipts based on Finance Commission recommendations.
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