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Fiscal System Of India Quiz 3 (25 MCQs)

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1. A Multinational is: [CDS 1991]
2. Under increasing returns the supply curve is [SSC (10+2) 2010]
3. Rate of growth of an economy is measured in terms of:
4. The National Income is more at current prices than at constant prices because: [CDS 1992]
5. Taxation and the government's expenditure policy are dealt under the :
6. Grants or advances made by the House to enable the government to carry on until the voting of the demands for grants and passing of the General Appropriation Bill is called:
7. What is the impact on the "Social overhead capital requirements" of an economy, if the population increases?
8. The budget broadly comprises: (i) revenue budget, and (li) capital budget. Which of the following item or items is/are not covered under the revenue budget? I. Different proceeds of taxes and other duties levied by the government II. Interest and dividend on investments made by the government III. Expenditure on running government and various services IV. Market loans raised by the government
9. Which of the following is not an indirect tax?
10. The highest weight in the revised Whole Sale Price Index, implemented from September 2010 is given to which of the following item? [Corporation Bank PO 2011]
11. Invisible trade is a trade: [IAS 1992]
12. Once the demands for grants and expenditure of different departments are passed by the Parliament, a bill to draw money from Consolidated Fund India for these purposes is introduced. This bill is called:
13. The principal source of revenue to the State Government in India is :
14. Estimation of national income in India is difficult due to : I. illiteracy of people II. non-monetised consumption III. inflation IV. people holding multiple jobs
15. Octroi is levied and collected by:
16. Fiscal deficit in the budget means: [CDS 1999]
17. The Fiscal Responsibility and Budget Management (FRBM) Act aimed fora. eliminating both revenue deficit and fiscal deficitb. giving flexibility to RBI for inflation management
18. The most appropriate measure of a country's economic growth is the:
19. In India, the service tax was first introduced in the year: [CDS 2001]
20. Which one of the following is the correct statements? Service tax is a/an [IAS 2006]
21. Match List I with List II and select the correct answer using the codes given below the Lists1. Fiscal deficit-(A) Excess of total expenditure over total receipts2. Budget deficit-(B) Excess of revenue expenditure over revenue receipts3. Revenue deficit-(C) Excess of total expenditure over total receipts less borrowings4. Primary deficit _____ (D) Excess of total expenditure over total receipts less borrowings and interest payments
22. In terms of economy, the visit by foreign nationals to witness the XIX Common Wealth Games in India amounted to [CSAT 2011]
23. One of the problems in calculating the national income in India correctly is : [Railways 1994]
24. In a country like India, why should an increase of direct taxes be preferred to an increase in indirect taxes?
25. Which one of the following is not a feature of "Value Added Tax"? [CSAT 2011]
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