161.
The Kerala Panchayat Raj Act was passed in the legislature in the year
A
1999
B
1995
C
1994
D
2000
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The Kerala Panchayat Raj Act was passed in the legislature in the year
1999
1995
1994
2000
The Kelkar Proposals are concerned with
None of the above
Recommendations for reforms in the power sector
Recommendations for tax reforms
Guidelines for the privatization of public sector undertakings
The item or economic activity on which tax is imposed is known as
tax base
Tax buoyancy
tax rate
Excess burden
The Indian tax system is
Degressive
Proportional
Progressive
Regressive
The Indian income tax is
Direct and progressive
Direct and proportional
Indirect and proportional
Indirect and progressive
The income of the government through all its sources is called
Public expenditure
public revenue
Public finance
none of these
The ideal system of public Finance is one where the net benefit is
Maximum
Minimum
Zero
Infinity
The idea of ..Democratic Decentralization in India was popularized by
A.D. Gorwala Committee, 1951
B.R. Mehta Committee, 1957
Ashok Mehta Committee, 1978
None of these
The Great Depression occurred during
1919-23
1929-33
1949-53
1901-05
The government which taxes the least is the best, is the belief of
Mercantilists
Physiocrates
Modern
Classical
The FRBM Act was passed in
1991
2001
2003
2011
The first state to introduce VAT was
Bihar
Orissa
Haryana
Kerala
The First Finance Commission was appointed in the year
1949
1950
1951
1952
The financial year in India starts from
1st January
31st March
1st April
1st July
The finance commission is appointed every
3 years
5 years
6 years
7 years
The Finance Commission in India is appointed by
President
Prime Minister
Chief Minister
Finance Minister
The Finance Commission does all the following functions except one, which is that?
Works out allocation of taxes in the divisible pool
Looks into financial relations between the Centre and the States
Allocates grants -in-aid to the States and Union Territories
Assist the Planning Commission in making 5 year plans.
The final resting place of the burden of tax is called
Tax avoidance
Tax evasion
Impact
Incidence
The existence of economic inequalities among the states is known as
Vertical imbalance
Horizontal Imbalance
parallel imbalance
none of these
The equity principle of taxation was propounded by
Adam Smith
Dalton
J.B Say
Marshall