Public Finance in India
Economics ⇒ Indian Economy
Public Finance in India starts at 12 and continues till grade 12.
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See sample questions for grade 12
Define fiscal deficit.
Explain the concept of deficit financing.
Explain the concept of primary deficit.
Explain the concept of 'progressive tax'.
Explain the concept of 'public goods' with examples.
Explain the concept of 'tax incidence'.
Explain the difference between direct and indirect taxes with examples.
Explain the term 'public debt'.
Which of the following is a capital receipt? (1) Income tax (2) Disinvestment proceeds (3) Interest receipts (4) Customs duty
Which of the following is a constitutional body related to public finance in India? (1) Reserve Bank of India (2) Finance Commission (3) Planning Commission (4) NITI Aayog
Which of the following is a function of the Finance Commission in India? (1) Preparing the Union Budget (2) Recommending the distribution of tax revenues (3) Collecting taxes (4) Printing currency
Which of the following is a merit of indirect taxes? (1) Regressive nature (2) Easy to evade (3) Wider coverage (4) Burden on poor
Fill in the blank: _______ expenditure leads to the creation of assets for the government.
Fill in the blank: _______ tax is paid by the person on whom it is imposed.
Fill in the blank: The _______ budget is presented before the beginning of the financial year.
Fill in the blank: The _______ budget refers to a situation where government receipts are equal to government expenditure.
State whether the following statement is true or false: Borrowings by the government are considered as capital receipts.
State whether the following statement is true or false: Grants from foreign countries are considered as revenue receipts.
State whether the following statement is true or false: Public goods are non-excludable and non-rivalrous.
State whether the following statement is true or false: The Goods and Services Tax (GST) is an indirect tax.
