Because of COVID - 19 the expenditure of govt. is increasing (in the form of providing food and

livelihood support, cash support, stimulus and incentive program etc.). Keeping the option of

taking loan, assume govt. decided to increase the tax revenue to finance the expenditure. Do you

think imposing high tax on the high elasticity products would be a solution in this regard? Explain

your statement in light of impact and incidence of tax.