Economy Terms: Tax Buoyancy, Elasticity, Automatic Stabilizer, Forward Backward shifting Tax Burden

Описание: 1. 👩🏻‍🏫 Prelims + Mains Coaching: https://unacademy.com/goal/upsc-civil...
2. 😵‍💫 UPSC Form filling helpline https://docs.google.com/forms/d/e/1FA...
3. 📰 Mrunal’s Win26 Economy Series mrunal.org/win26
4. 📘 Amazon pe Mrunal’s Economy Book: https://amzn.to/3Jb5rf7

Timestamps:
00:00 Intro & Tennis Ball Analogy
01:10 Income Tax Buoyancy 1.8×
02:06 Economic Survey Data Tricks
03:07 Income Tax Data FY22–25
04:19 Revenue Shortfall Reasons
05:26 Automatic Stabilizer Explained
06:41 Automatic vs Discretionary
08:10 Laffer Curve Intuition
09:11 GDP & Tax Relation
10:38 Why Income Tax Grows Faster
11:46 Corporation Tax Unitary
12:07 GST Buoyancy Falling
13:22 Direct vs Indirect Shift
14:16 Excise on Petrol-Diesel
15:39 Customs Duty Reasons
16:46 Tax Elasticity Overview
19:02 Tax Burden Shifting
21:05 Examples
23:21 CAPF 2024 Question
25:22 Economy Series Update

In this detailed Economy lecture, renowned UPSC educator and subject expert Dr. Mrunal Patel explains crucial taxation concepts from the latest Economic Survey with real data, simple analogies, and exam-oriented clarity.

Dr. Mrunal breaks down why Income Tax collection is growing much faster than India's GDP (Tax Buoyancy more than 1), while Corporation Tax shows unitary elasticity (~1), GST elasticity is falling, and Excise + Customs are moving like a "tortoise" (elasticity less than 1).

He uses the famous "tennis ball vs cricket ball" analogy to explain tax buoyancy, compares GDP "elephant" speed with tax "rabbit" & "tortoise" speed, and shows how to calculate buoyancy ratio quickly for MCQs.

Important topics covered:
What is Tax Buoyancy? How to interpret 1.8×, 1.3×, 0.4× numbers
Why Income Tax showed very high buoyancy in FY 2022–25
Revenue Shortfall in Income Tax after new tax regime (₹12 lakh exemption)
Why GST collections slowed down after slab rationalization (2025 changes)
Excise duty on petrol-diesel became less bouncy – official reasons + real-world angles (EV trend, job losses, election duty cuts)
Customs duty elasticity less than 1 due to FTA + raw material duty cuts
Direct vs Indirect tax share shift (51:49 → 59:41 post-COVID)
Automatic Stabilizer – how progressive taxes like Income Tax & Corporation Tax act like bike suspension during slowdowns/job losses (very important MCQ concept)
Tax Burden (Incidence) – Forward shifting vs Backward shifting
When does burden fall more on consumer vs producer? (elasticity of demand & supply examples – salt, essentials, addictive goods, cars, chocolate)
Laffer Curve intuition (without using the name) – why tax rate increase beyond a point reduces revenue
Economic Survey communication tricks when data looks bad
Rank of major taxes in total collection (2024–25 order)

This lecture is especially useful for UPSC CSE Prelims & Mains (GS Paper 3 – Economy), CAPF AC, CDS, SSC CGL, State PCS, RBI Grade B, IBPS, and all other competitive exams where Indian Economy & Taxation is asked.
Watch full Economy series playlist for latest updates before Prelims/Mains.

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