Discuss the multifaceted factors affecting resource mobilization in India, and discuss measures to enhance the efficiency and efficacy of the resource mobilization mechanism.
Answer:- Resource mobilization aims to meet developmental objectives by involving various channels such as maximizing the use of domestic capital and skills, public savings, foreign direct investment, and public-private partnerships.
Factors Affecting Resource Mobilization in India
- Tax Structure: India's complex tax regime often leads to tax evasion and low collection. The introduction of the Goods and Services Tax (GST) in 2017 was a transformative step toward simplifying this system, aimed at integrating the country into a single market and enhancing resource mobilization.
- Financial Inclusion: The Pradhan Mantri Jan-Dhan Yojana (PMJDY), launched in 2014, has now reached over 500 million ....
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