Tag: public finance and budget

Questions Related to public finance and budget

As part of Banking Sector Reforms in 1991, Priority Sector was enlarged to include -

economics public finance and budget black money and tax evasion meaning of tax direct taxes

  1. Software

  2. Venture Capital

  3. Agro-Processing Industries

  4. All of the above

Show answer
Correct Option: D

The most important source of public revenue is ____________.

economics public finance and budget black money and tax evasion meaning of tax direct taxes

  1. taxes

  2. interest

  3. dividend & profit

  4. license fees

Show answer
Correct Option: A
Explanation:

Public revenue is all the revenue receipts of the government. These revenue receipts consists of taxes, interest on loans etc. Majority of the revenue collected by the government is in the forms of taxes i.e. both direct taxes (income tax, wealth tax, property tax) and indirect taxes (GST, service tax). These taxes give revenue in huge quantity and hence it becomes the most important source of public revenue.

The income of the government through all its sources is called ____________.

economics public finance and budget black money and tax evasion meaning of tax direct taxes

  1. public expenditure

  2. public revenue

  3. public finance

  4. none of the above

Show answer
Correct Option: B

Which one of the following statement is false?

economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

  1. IFC was established In July 1956

  2. IFC encourages the growth and development of Public Sector Enterprises in member countries

  3. IFC is an affiliate of the World Bank

  4. IF encourages the growth of productive private enterprises in member countries

Show answer
Correct Option: B
Explanation:

The International Finance Corporation (IFC) is an international financial institution formed on July 20, 1956 and affiliated to world bank, that offers investment, advisory, and asset-management services to encourage private-sector development in developing countries since 2009, the IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private-sector entities, and creating jobs and delivering necessary services to those who are poverty stricken or otherwise vulnerable

Which of these agencies regulates Securities Market in India?

economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

  1. RBI

  2. SEBI

  3. Stock Exchange

  4. Finance Ministry

Show answer
Correct Option: B

Who was the Chairman of the 13th Finance Commission of India?

economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

  1. Indira Rajaraman

  2. C. Rangarajan

  3. Vijay Kelkar

  4. None of the above

Show answer
Correct Option: C

Deficit Balance of trade suggests that __________.

economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

  1. value of exports of goods > value of imports of goods

  2. value of imports of goods > value of exports on goods

  3. value of exports of goods = value of imports of goods

  4. none of above

Show answer
Correct Option: B

Balance of unrequited transfers includes all gifts, donations, grants and reparation, receipts and payments to foreign countries (true/false)

economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

  1. True

  2. False

  3. Cant say

  4. None of above

Show answer
Correct Option: A

The Planning Commission was set up in _______ by a Resolution of the Government of India.

economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

  1. $March, 1949$

  2. $March, 1950$

  3. $March, 1947$

  4. $March, 1957$

Show answer
Correct Option: B

Balance of payment on capital account deals with the borrowings or lending of the country in question (true/false)

economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

  1. True

  2. False

  3. Cant say

  4. None of above

Show answer
Correct Option: A