Science, Engineering and Technology Project - 1

Exploring the Relationship between Taxation and National Income: A Regression Approach 

Taxation is crucial to national growth. Indian tax revenue has been expanding at a faster proportion in recent years, making it an essential role in economic decision making. In this paper, a rigorous analysis is done to explore the influence of taxation on India's national income. The relationship between taxation and economic growth is a critical problem. For the investigation, we chose a multiple linear model based on the regression methodology. In addition, one of the most important macroeconomic indicators, National Income, is anticipated for the upcoming years. An accurate GDP estimate is critical for gaining insight into an economy's future health. The research would aid in determining India's macroeconomic growth potential. 

This research paper explores the relationship between taxation and India's national income. The study analyzes the impact of taxation on economic growth and assesses the potential for future growth. It uses regression models, hypothesis testing, correlation analysis, and data visualization techniques to gain insights into the dynamics between taxation and national income. The research reveals that alterations in individual income tax can have a long-term impact on economic growth. It also highlights the correlation between different types of taxes and economic performance. The study concludes that taxation plays a significant role in shaping a nation's economic well-being and that reforms focused on incentives, subsidies, and deficit financing can yield favorable outcomes for long-term economic growth. 

Keywords— GNP, Direct Tax, Indirect Tax, Economy 

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