In which area is the public sector most dominant in India?

 

States earn maximum revenue through commercial taxes. 

Commercial Tax is a form of sales tax, now referred to as GST(Goods and Service Tax) in India. It is levied on all kinds of commercial goods and services.

Capital refers to buildings and equipment i.e, goods which are used by workers to produce other goods such as machinery, land, ...

Capital has a number of related meanings in economics, finance, and accounting.

In economics, Capital comprises one of the four major factors of production, the others being land, labor, and entrepreneurship.

In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business.

Serve as debt manager to other banks is not a function of RBI Bank.

An excise or excise tax or excise duty is a type of tax charged on goods produced within the country (as opposed to customs duties, charged on goods from outside the country). It is a tax on the production of a good. This tax is now known as the Central Value Added Tax (CENVAT).

Total Output is a synonym for Aggregate supply or Initial production.

The single-step income statement emphasizes

1. total revenues and total expenses.

2. Revenues

3. Expenses

4. Net income

The primary advantage of the single step fromat lies in its simple presentation and the absence of any implication that one type of revenue or expense item has priority over another.

Direct Materials doesn't come under Fixed Cost because it vary with changes in the activity level of a business.

Fixed Cost :

A fixed cost is a cost that does not change over the short-term, even if a business experiences changes in its sales volume or other activity levels.

It is of some importance to understand the extent and nature of the fixed costs in a business, since a high fixed-cost level requires a business to maintain a high revenue level in order to avoid generating losses.

Examples of Fixed Cost are:

Insurance, Salaries, Rent, Property Taxes,...

National Income is the total income value of the goods and services produced by the residents of a country, usually during the period of one year.

National Income is categorized into 6 components. They are :

1. Compensation of Employees (Wages and Benefits)
2. Corporate Profits
3. Rental Income
4. Proprietors Income (Income of unincorporated business)
5. Net Interest

The Largest Component of National Income is Compensation of Employees.

The Largest component of National Income in India is Service Sector.