Tax expenditure refers to the revenue forgone by the government due to exemptions and concessions provided in both direct and indirect taxes.
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Tax expenditure
UPSC - Mains Solved Paper GS 3
What is the meaning of the term tax expenditure? Taking the housing sector as an example, discuss how it influences budgetary policies of the government. (150 Words, 10 Marks)
by Edukemy Team
Tax expenditure refers to government policies that forego revenue through preferential tax treatment or subsidies in order to achieve certain social or economic objectives.