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How an individual contributes to the economy of world?

How an individual contributes to the economy of world?

contributes to the economy

Individuals do contribute to the economy of a country. Let’s see how the process works. The economy of our country is increasing day by day. If the corona is not there we would have reached on the top in the list. But still even after corona country is doing really good from economy point of view. It is all because of every responsible individuals of the country. Each person somehow contributes to the strong economy of their country. Today we are going to enlighten this factor.

  • Tax

At the end of each year almost every single employee and person who is earning the money have to pay the tax to government. The total vary from person to person as per their income amount. Also there are number of ways to save some amount of tax money. Still everyone is paying the tax. There are punishments also if you don’t pay your taxes. Where this money goes? It adds to the account of government and ultimately making the economy of the country strong. Even your 100Rs. tax also contributes at its end.

  • GST

Full form of GST is goods and services taxes. From 2010 everyone has to pay the GST on some essential items. Whenever you go to some restaurants to eat see the bill. At the end they add the GST to your bill. It is not the restaurant that is earning the GST amount but the government. Even when you buy groceries from the supermarket then also you have to pay the GST amount. It also adds up to the economy of the country. So even when you eat something you contribute to the economy of the nation.

  • Toll tax

Every state has some toll taxes probably at their boarders. Every vehicle has to pay some amount of toll to enter to that area. The amount is not very huge but daily hundreds of vehicles pass from every toll. So you can sum up the total amount. Usually the toll tax goes to the state government. But if economy of the state is strong then automatically economy of the world is going to be super strong. So ultimately you are contributing to the economy even if you are driving your vehicle.

  • Obeying the rules and regulations of nation

This must be the surprising point but everyone contributes to the economy if they are obeying the rules of nation completely. If in case any individual breaks the rules and cause any disturbance then it is also economic loss to nation. They have to send the help to that place and travel costs a lot. This was just an example to make everyone understand. There are several other examples as well which shows how if someone follows the rule of nation contributes to the economy of nation.

These are the four points that tells how every individual of the country is putting their efforts to make the economy stronger and stronger. Don’t think yourself less than other people. You are contributing enough from your end.


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