Fiscal Policy & Revenue

Public assistance and fund contribution 2. Taxes, fees and economic penalties 3. Grants – By State Government for administration – For the schemes of State Government – For the schemes of Central Government – From district council/committee – From Finance Commission of India – From State Finance Commission 4. Borrowings from cooperative banks 5. Self income Hence option

Which of the following (Union Budget Departments 2023-24 – Allocation amount approx. Rs.) is correctly matched?

According to the Union Budget 2021-22, Finance Minister proposed a new levy Agriculture Infrastructure and Development Cess. This cess will be levied on how many products?

As per the Economic Survey 2015-16, which one of the following has been constructed as the Chakravyuha Challenge of the Indian economy?

According to the Economic Survey, 2022-23, what fiscal policy response did the Government of India undertake in response to the aggravated global supply disruptions? 1. Decreasing food and fertiliser subsidies 2. Increasing taxes on fuel and imported products 3. Reducing taxes on fuel and certain imported products Select the correct answer from the codes given below:

What kind of tax is GST?

Which of the following Constitution Amendment Acts made necessary provisions for the implementation of GST (Goods and Services Tax) regime?

The introduction of Goods and Services Tax from July 2017 is expected to create :

Consider the following statements : 1. GST Council is chaired by the Union Finance Minister and the Minister of State-in-charge of Revenue or Finance at the centre is a member. 2. The GST Council will decide the tax rate, exempted goods and the threshold under the new taxation regime. 3. State Governments will have the option to levy VAT, if they so decide. Of these –

The collection of 'Goods and Services Tax' in Indian economy in October, 2020 has been :

Which of the following statement/s is/are correct? 1. ITC means the credit of Input Tax on the supplies of goods and services or both received by a registered person. 2. Eligibility of ITC which may be as under-taxable supply, non-taxable supply, zero-rated supply. Select the correct answer using the code given below- Code :

The term ‘Revenue Neutral Rate’ was in news recently is related to :

Saksham project approved by Govt. of India is related to :

In India, which one among the following formulates the fiscal policy?

Long-term fiscal policy was announced by which finance minister of India?

Which one of the following is not an objective of fiscal policy of Government of India?

Which of the following is responsible for preparing the Annual Economic Survey?

Economic Survey of India is published officially, every year by the :

In which of the following countries, zero-based budgeting was first adopted?

Which one of the following is not true about the total outlay in the Union Budget 2023-24?

In the Union Budget for 2011-12, which one of the following sectors has been allocated largest outlay?

As per Union Budget 2018-19, match List-I with List-II and select the correct answer from the codes given below the lists : List-I (Sector) List-II (Budget Allocation : in lakh crores) A. Defence 1. Rs. 1.38 B. Agriculture and allied activities 2. Rs. 1.69 C. Subsidy for food 3. Rs. 0.63 D. Rural development 4. Rs. 2.82 Codes : A B C D

In the Union Budget for 2010-11, capital receipts :

Which one of the following is not a source of Public revenue?

Which among the following are the sources of income in current account of the Central Government? I. Corporation Tax II. Profit from Public Enterprises III. Sale of National Savings Certificates IV. Loans received from the World Bank V. Excise duties Select the correct answer from the codes given below: Codes:

In the Union Budgets in India, which one of the following is the largest in amount?

Which one of the following did not take place in the Union Budget for 2017-18?

Which among the following is the most important item of revenue expenditure of the Union Government?

Which one of the following statements is/are correct with reference to India? 1. The fiscal deficit target for the year 2017-18 was raised to 3.5 percent of GDP. 2. The fiscal deficit target for the year 2018-19 has been placed at 3.3 percent of GDP. 3. The fiscal deficit target for the year 2020-21 is projected at 3.1 percent of the GDP. <!-- PAGE 910 --> Select the correct answer from the codes given below: Codes :

For the Financial Year 2019-20 the Union Government aims to restrict the fiscal deficit at :

The present fiscal deficit of States has touched a record of :

Consider the following budget deficits of Central Government : 1. Primary deficit 2. Fiscal deficit 3. Revenue deficit The correct descending order of their values is : Code :

If interest payments are subtracted from gross fiscal deficit, the remainder will be :

Primary deficit in the Union Budget for 2010-11 is estimated at :

After deducting grants for the creation of capital assets from revenue deficit, we arrive at :

A larger part of the fiscal deficit in Union Government Budget is filled by :

Assertion (A): Deficit financing leads to inflation. Reason (R): It increases money supply as compared to goods and services. In the context of the above which one of the following is correct: Codes:

Statement (A): A big source of deficit in the Government's budget is the financial subsidy. Reason (R): The level of financial subsidy is much higher in Indian agriculture than in developed countries. Select the correct answer with the help of following code:

Which one of the following motions has contextual relationship with the Union Budget :

The concept of Performance Budget has been borrowed from :

Fiscal Responsibility and Budget Management Act was enacted in India in the year :

What was the disinvestment target for Public Sector Banks and Financial Institutions in the Union Budget 2020-21?

According to Railway Budget 2016-17, which research organization will be set up under Railways?

The Railway Budget 2013-14 has approved to introduce a new hyper luxury class. It is to be called –

Direct Tax Code in India is related to which of the following?

Who had suggested the imposition of 'expenditure tax' in India for the first time?

At present, share of direct taxes in Gross National Product (GNP) in India is about –

The tax-GDP ratio in India is nearly :

Why are the indirect taxes termed regressive taxing mechanism?

Which of the following statements are true for the Income Tax in India? I. It is a progressive tax II. It is a direct tax III. It is collected by the State Governments IV. It is a proportional tax Code :

According to the Union Budget 2016-17, a surcharge of 15% is payable if the income is :

In the Central Government budget 2011-12, a new category of 'Very Senior Citizens' has been created for the purpose of Income Tax. This category covers the persons of age

Which among the following is true for Central Sales Tax? (i) It is levied on interstate trade (ii) It is levied in the Union Territories (iii) It is levied in the SEZ Select the correct answer from the codes given below:

Two largest sources of tax revenue to the Central Government of India are :

Following are the estimated source of revenue of the Union Budget 2020-21. Match List-I with List-II and select the correct answer from the codes given below : List - I (Source) List - II (Percentage of Revenue) A. Corporate Tax 1. 17 percent B. Income Tax 2. 18 percent C. Customs 3. 7 percent D. Central Excise 4. 4 percent Codes : A B C D

Which one of the following has been the most important source of the tax revenue of the Union Government in 2009-10?

Which of the following is not a tax/duty levied by the Government of India?

Which one of the following sets of sources of revenue belongs to the Union Government alone?

Which one of the following is correctly matched?

Match the list-I with the list-II and select the correct answer from the code given below the lists : List-I A. Capital Gain Tax B. Central Excise Duty C. Custom Duty D. Corporate tax List-II 1. Income 2. Factory Produce 3. Import 4. Sale of Property Code : A B C D

MODVAT is related to :

CENVAT is related with :

VAT is imposed :

Which of the following state have not introduced VAT system? Select the correct answer from the code given below : 1. Andhra Pradesh 2. Chhattisgarh 3. Maharashtra 4. Uttar Pradesh Code :

Consider the following statements regarding Service tax. 1. It is a direct tax. 2. It is an indirect tax. 3. It was introduced during 1994-95. Of the above statements, choose the correct answer from the code given below : Code :

Income tax in India was introduced by :

Which of the following taxes does not directly increase the price of a commodity to buyers :

The tax on import and export is known as :

Which of the following is direct tax?

Which of the following is a direct tax?

Which one of the following is not related with income from corporate sector in India ?

Which of the following taxes is not levied by the Union Government?

Which of the following taxes is not levied by the State Governments?

Excise Duty on liquor is imposed by :

Which of the following comes/come under the definition of Adjusted Gross Revenue (AGR)? 1. Interest Income 2. Dividend 3. Forex Gain Choose the correct answer from the code given below. Code :

What is the maximum limit of the payment of Gratuity as per the Payment of Gratuity Act 1972?

Generally after every five years, Finance Commission is appointed in India to:

Consider the following statements with regard to the Planning Commission (PC) and Finance Commission (FC) and state which of these statements is not correct.

Which among the following taxes is not shared by the Central Government with U.P. Government under the Finance Commission award :

Which one of the following statements about Fifteenth Finance Commission is NOT correct?

Which one of the following has been assigned the highest weightage by the Thirteenth Finance Commission of India while recommending devolution of Union taxes amongst States?

Who among the following was the Chairman of the First Finance Commission of India?

Match List-I with List-II and select the correct answer by using the code given below: List-I Finance Commission A. $9^{\text{th}}$ B. $10^{\text{th}}$ C. $11^{\text{th}}$ D. $12^{\text{th}}$ Codes : A B C D

According to the Tenth Finance Commission the share of resources to be transferred to States from the divisible pool will be :

Recommendations of the Kelkar Task Force relate to:

The Committee which has recommended abolition of Tax Rebates under Section 88 of Income Tax Act of India, is:

The latest committee to submit its report on tax reforms is known as:

Recent tax reforms in India have been undertaken on the recommendations of the committee headed by:

Which one of the following is different from the others from the point of view of tax relief to individuals:

Which of the following is not eligible for any income tax rebate?

A PAN has initially a five-alphabet series like AFZPK 7190K. Here P stands for:

PAN card issued by the Income Tax Department cannot be used for which of the following purpose?

Consider the following sources of Revenue of the Panchyats : 1. Local Authority Grant by Finance Commission 2. Assistance by Central Cooperative Banks 3. Allocations for Centrally Sponsored Schemes 4. NABARD 5. Allocation from State Finance Commission Of the above, the correct sources of Finance for Panchyats would be?

The main source of fund for the National Highway Authority of India is :