Public Finance

Q1. A progressive tax is a tax:
a) Whose burden on tax payers rises as income falls
b) Whose burden on tax payers rises as income rises
c) Whose burden on the falls as income rises
d) None of these

Q2. Which one of the following is not an Indirect tax?
a) Excise duty
b) Custom duty
c) Service tax
d) Wealth tax

Q3. Which among the following is/are the main items of non-plan revenue expenditure?
1. Interest payments
2. Defenses services
3. Subsidies
4. Salaries and Pensions
Codes:
a) 1 and 2 only
b) 2 and 3 only
c) 2, 3, and 4 only
d) All of the above

Q4. What do you understand by Primary Deficit?
a) Excess of total expenditure over total receipts
b) Excess of revenue expenditure over revenue receipts
c) Excess of total expenditure over total receipts less borrowing
d) Excess of total expenditure over total receipts less borrowing and interest payments

Q5. Which one of the following is not levied as well as collected by the Union, but assigned to the states within which they leviable?
a) Taxes on railways fares and freights
b) Taxes on lands and buildings, mineral rights
c) taxes on stock exchange other than stamp duties
d) terminal taxes on passengers carried by railways

Q6. Which article of the Indian constitution deals with the Finance Commission?
a) Art-263
b) Art-270
c) Art-280
d) Art-290

Q7. Who is the chairman of the first Finance Commission constituted in 1951?
a) K.C. Neogi
b) K. Santhanam
c) A.C. Chanda
d) P.V. Rajamannar

Q8. The difference between the government’s total expenditure and its total receipts, excluding borrowing is termed as:
a) Budget deficit
b) Revenue deficit
c) Fiscal deficit
d) Primary deficit

Q9. A kind of Indirect tax which is expressed as proportion of theprice of a commodity is called:
a) Indirect tax
b) Multiple tax
c) Direct tax
c) Ad valorem tax

Q10. In which year the government of India introduced the Minimum Alternate Tax?
a) 1972
b) 1983
c) 1991
d) 1999


Answers:
1. b
2. d
3. d
4. d
5. b
6. c
7. a
8. c
9. d
10. b

Related and Sponsored Posts

Leave a Comment