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MCQs on Indian Fiscal System ( Part IV )
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Indian Economy

Arijit Basu Chowdhury
Graduate in History from St.Paul’s Cathedral Mission College.My Philosophy is Being Basic and Being simple and show actually what you are 😊

U
Unacademy user
nice contents. Good speed.Please carry on the same
  1. ECONOMICS Indian Fiscal System ARIJIT BASU CHOWDHURY Target WBCS(EXECUTIVE)


  2. About Me Graduate in History from St.Paul's Cathedral Mission College, Kolkata Interests: Fitness, Current Affairs ,Burning Issues, Music, News Analysis . You can follow me on UNACADEMY https:/lunacademy.com/userlArijitBasuChowdhury Life has two rules: 1) Never quit. 2) Always remember Rule #1 . Rate, Review & Recommend


  3. MCQs on Indian Fiscal System 1. Value-added tax is: a) A special tax levied by states on products from other states b) Tax on final consumption collected at the consumption stage c) An ad valorem tax on final consumption collected at the manufacturing level d) An indirect tax on the domestic consumption of goods collected at all stages between production and the point of final sale 2. The expenditure expensed immediately is known as: a) Revenue expenditure b) capital expenditure c) current expenditure d) None of these


  4. MCQs on Indian Fiscal System 3. When the Reserve Bank of India announces an increase of the Cash Reserve Ratio, what does it mean? a) The commercial banks will have more money to lend b) The commercial banks will have less money to lend c) The Reserve Bank of India will have less money to lend d) The Union Government will have less money to lend 4. Economically developed countries are referred to as: a) Countries earning huge industrial profits b) Countries proficient in trade and export c) Countries having large per capita income d) Countries advanced in technology


  5. MCQs on Indian Fiscal System 5. Usually two months advanced grants made by the house to enable the government functions to carry on until the voting of the demands for grants and passing of the General Appropriation Bill is called a) Vote on account c) Supplementary budget d) Contingency budget b) Complementary budget 6. Which of the following is a true statement about India Since 1951? a) National and per capita incomes have both increased fast b) National income has increased but per capita income has decreased c) National income and per capita income have increased every year d) National income has increased and per capita income has also increased but at a slower rate


  6. MCQs on Indian Fiscal System 7. Which one of the following is not a feature of "Value Added Tax"? a) It is a multi-point destination-based system of taxation b) It is a tax levied on value addition at each stage of transaction in the production-distribution chain c) It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer d) It is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation 8. A rapid increase in the rate of inflation is sometimes attributed to the "base effect". What is "base effect"? a) It is the impact of drastic deficiency in supply due to failure of crops b) It is the impact of the surge in demand due to rapid economic growth c) It is the impact of the price levels of previous year on the calculation of inflation rate d) None of these


  7. MCQs on Indian Fiscal System 9. Which one of the following statements appropriately describes the "fiscal a) It is a massive investment by the Government in manufacturing sector to ensure the stimulus"? supply of goods to meet the demand surge caused by rapid economic growth country loans to agriculture and allied sectors to promote greater food production and contain b) It is an intense affirmative action of the Government to boost economic activity in the c) It is Government's intensive action on financial institutions to ensure disbursement of food inflation d) It is an extreme affirmative action by the Government to pursue its policy of financial inclusion


  8. MCQs on Indian Fiscal System 10. Economic growth is usually coupled with a) Inflation b) Stagflation c) Deflation d) None of these 11. In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years a) Service tax b) Personal income tax c) Excise duty d) Corporation tax 12. Which of the following are the main causes of slow rate of growth of per capita income in India? 1) High capital-output ratio II) High rate of capital formation IV) High level of fiscal deficits a) Only I b) 1 and Il only c) l and Ill only d) All of these Il) High rate of growth of population


  9. MCQs on Indian Fiscal System 1. d) An indirect tax on the domestic consumption of goods collected at all stages between production and the point of final sale 2. a) Revenue expenditure 3. b) The commercial banks will have less money to lend 4. c) Countries having large per capita income 5. a) Vote on account 6. d) National income has increased and per capita income has also increased but at a slower rate d) It is basically a subject of the Central Government and the State Governments are only a facilitator for its successful implementation 7. 8. c) It is the impact of the price levels of previous year on the calculation of inflation rate


  10. MCQs on Indian Fiscal System b) It is an intense affirmative action of the Government to boost economic activity in the country 9. 10. a) Inflation 11. C) Excise duty A percentage levied on manufacture, sale, or use of locally produced goods (such as alcoholic drinks or tobacco products). 2. A percentage tax levied on a company's tax. revenue, instead of (like income tax) on the company's income. Also calledexcise 12. b) I and Il only