AN APPRAISAL OF ECONOMIC PROGRESS BY ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT IN ECONOMY IN INDIA (Pages 22-29) by Suhasini Parashar in THE INTERNATIONAL MANAGER / ISSN: 2348-9413 (Online); 2348-9405 (Print)

National Income is increasing with moderate rate by the contribution of primary (Agriculture Sector), Secondary (Industrial Sector), Services (Tertiary Sector). Continuously increasing the GDP and GNP growth rate in Economy effects the employment and standard of living and revenues such as a good source for funding the activities. Governments effort to raise the income in the form of capital gains, property/assets, profits/ gains from business and profession, salary, as source of expenditure for welfare of masses in the economy. Deductions as taxes provide essential funding for social welfare programs and public services give benefit to society. The taxes as expose the good health of economy, are implemented and paid directly, the income, wealth, corporate taxes, etc., while others are indirect taxes, value-added, service, sales taxes, etc. In the long run, the taxes affect the economy, primarily through the supply side and effect revenue for expenditure in public and private sector. Strategy adopted as high marginal tax rates is affecting work, saving, investment, and innovation, while specific tax preferences can affect the allocation of economic resources efficiently. In India, the good tax system is proceeding economic stability, promote equity, and encourage national progress through achieving national-level goals -welfare and to individual benefit of good standard of living. The focus of this article is on to study the appraisal of economic growth and economic development in the economy for nation progress. Keywords: Economic Development, Economic Growth, Economic Progress, Social-stability, Welfare.etc.