Originally Posted by Eager

8. China's economic success, its main factors?

The first factor is China's reforms. as long as China pursues social and economic reforms, its economy will keep growing rapidly.
The second is the fact that China has opened up to the outside world, welcoming all kinds of foreign investments and gradually opening its banking sector.
The third factor is education and technology support. According to Fan, the central government has invested a huge amount of capital and human resources in developing education and technology.
the final factor was urbanization which proved to be a vital driver of market demand and produced massive investments in infrastructure.

9. Factors behind India's emerging economy?

Firstly, it is domestic consumption
Secondly, rise of investment
Thirdly, increase in employment and growth in the labor force
Fourthly, increase in productivity of both capital and labor


10. Benazir Income Support Program

initiated by govt in year 2008-09, allocation of 70 billion rupees in fiscal year 2010-11, aimed to cover 5 million families having current income of less than 6,000.

11. Flood Surcharge

Pakistan impose a flood surcharge of 15 percent on income tax in order to tackle the country's widening budget deficit. Pakistan, whose tax-to-GDP ratio is around 10 percent, one of the world's lowest, is trying to show the IMF and other donors that it is working on ways to boost revenue.

12. Mini budget 2011:

The government has introduced a Rs 120 million mini-budget. As per the Income Tax (Amendment) Ordinance 2011, “a surcharge shall be payable by every taxpayer at the rate of 15 percent of the income tax payable”. The government has levied 17 percent general sales tax (GST) on imported and locally produced tractors, fertilisers and pesticides. These measures will generate Rs 53 billion before the next budget in order to achieve the government’s revised target of Rs 1,600 billion revenue collection. The government has decided to save Rs 120 billion by imposing a ban on all fresh recruitments, purchase of durable goods, and announced a 50 percent cut in expenditures on POL entitlements, purchase of stationery and travelling allowance. All these measures have been taken keeping in mind the International Monetary Fund’s (IMF’s) conditions to restrict the current year’s fiscal deficit below 5.5 percent of GDP.