Question 1 :
In India, budget is presented in the Parliament by the ______.
Question 2 :
Which among the following is a component of revenue expenditure of the government?
Question 3 :
A deficit budget proves to be useful during the periods of ____________.
Question 4 :
Taxes levied on personal income, profits of the corporate, wealth and property is termed as ________ tax.
Question 5 :
Budget expenditure refers to the estimated expenditure of the government during a given fiscal year.
Question 7 :
Which of the following is a component of the capital budget?
Question 8 :
The classical economists considered the balanced budget to be neutral in its effects on the economy.
Question 9 :
The classical economists believed that the government can rescue the people in times of economic distortions through unbalanced budgets.
Question 10 :
The expenditure incurred by the government which is out of the scope of government plans due to calamities is termed as __________.
Question 11 :
Tax revenue is the main source of regular receipts of the government.
Question 14 :
The ___________ net earning from foreign trade is added to the national income of the country.
Question 15 :
Which of the following is correct about the 'committed expenditures' of the government?<br>1. Expenditures on interest payment due to internal and external borrowings.<br>2. Expense in the name of the 'charged expenditure'.<br>3. Expenditures due to pensions and provident fund liabilities.
Question 17 :
When the estimated government receipts are more than the estimated government expenditure, the budget is known to be a ___________ budget.
Question 18 :
____________ refers to all those revenue receipts of the government which are not a part of the tax receipts.
Question 19 :
Grants, a part of the revenue expenditure of the government, refers to all the grants given by the state government to the central government.
Question 20 :
_____________ budget includes receipts of the government through tax and non-tax sources and that expenditure which doesn't affect the assets and liabilities of the government.
Question 22 :
Expenditure incurred by the government for the provision of essential services like judiciary, defence, and administration is termed as ____________.
Question 24 :
As per the provisions of the FRBM Act. along with the Budget and Demands for Grants the Gol needs to lay which of the following statements before the Parliament in each financial year. select the correct answer using the code given below: <br/>1. Fiscal Policy Strategy Statement IFPSS) <br/>2. Medium Term Fiscal Policy Statement I MTFPS) <br/>3. Macroeconomic Framework Statement (MFS)
Question 25 :
The concept of balanced budget has been advocated by the _____________ economists.
Question 27 :
The budget which has gaps between the government revenue and public expenditure is termed as the ___________ budget.
Question 30 :
A deficit budget leads to an increase in the liability of the government or a decrease in its reserves.
Question 32 :
__________ receipts are those monetary receipts which either creates a liability or leads to a reduction in the assets of the government.
Question 33 :
Which of the following is a component of the capital receipts of the government?
Question 35 :
When the net earning from foreign trade is zero, it largely impacts the national income.
Question 36 :
_____________ economists believed that the policy of balanced budget may not always be suitable for the economy.
Question 37 :
Government's consumption expenditure is incurred on:<br>i. Defence services<br>ii. Judiciary system<br>iii. Construction on roads<br>iv. Public utilities<br>v. Telecom infrastructure development<br>vi. Provision of social security
Question 38 :
Select the incorrect statements about 'capital consumption' from the given choices, using the code given below:<br>1. The situation when due to the losses of a company in consecutive years make it obliged to pay its current expanses using its capital base.<br>2. A situation when the listed firms under report their losses so that they can take higher benefits of depreciation.<br>3. The process by which a company shows higher loss in its operation to withholds payments of dividends to its various share holders.
Question 39 :
The budget where the government revenue is equal to the government expenditure is termed as ___________.
Question 40 :
Which among the following is a source of non-tax revenue for the government?
Question 41 :
Government expenditure is a component of the ____________ in the economy
Question 42 :
A surplus budget is useful in correcting inflationary gap by lowering the level of _____________.
Question 43 :
Which type of expenditure is incurred by the government for the economic and social development of the country?
Question 44 :
When the estimated government receipts are less than the estimated government expenditure, the budget is termed as ___________ budget.
Question 46 :
___________ refers to the claim of the government on the property of a deceased person, in case, no legal heir or will is left behind.
Question 47 :
____________ expenditure is incurred for the smooth functioning of the government departments and its various services.
Question 49 :
_________ expenditure refers to the expenditure incurred by the government on various programmes in the plan.
Question 50 :
What are ways that can be used by the government to correct inflationary gap using surplus budget?
Question 51 :
The income received by a country through exports, in the form of _____________, can be utilized by the country to import required goods and services.
