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Economy
- PREV DEFINITIONProportional TaxProportional tax is the taxing mechanism in which the taxing authority charges the same rate of tax from each taxpayer, irrespective of income.Read More
- NEXT DEFINITIONPurchasing Power ParityPPP is used worldwide to compare the income levels in different countries. PPP thus makes it easy to understand and interpret the data of each country.Read More
What is 'Public Distribution System'
Definition: Public distribution system is a government-sponsored chain of shops entrusted with the work of distributing basic food and non-food commodities to the needy sections of the society at very cheap prices.
Wheat, rice, kerosene, sugar, etc. are a few major commodities distributed by the public distribution system.
Description: Food Corporation of India, a government entity, manages the public distribution system.
The system is often blamed for its inefficiency and rural-urban bias. It has not been able to fulfill the objective for which it was formed. Moreover, it has frequently been criticized for instances of corruption and black marketing.
- PREV DEFINITIONProportional TaxProportional tax is the taxing mechanism in which the taxing authority charges the same rate of tax from each taxpayer, irrespective of income.Read More
- NEXT DEFINITIONPurchasing Power ParityPPP is used worldwide to compare the income levels in different countries. PPP thus makes it easy to understand and interpret the data of each country.Read More
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