180 practice sets · Page 2 of 9
The .................... had recommended certain reforms on the devolution of Grant-in-Aid (Plan fund) to LsGs from 2006-07 to 2010-11
2rd State Finance Commission
1rd State Finance Commission
None of the above
3rd State Finance Commission
Taxes which are based on specific qualities or attributes of goods are called
Advalorem tax
customs duty
Excise duty
Specific tax
Tax avoidance is
Legitimate
Punishable
None
Illegitimate
Special Assessment means
General tax on all people
A periodical tax
Gift tax
A tax on special benefits
Sound tax policy is devised mainly on the basis of
Elastic tax base
High income elasticity
High price elasticity
Maximum tax revenue
Short-period debts are called as
Funded debts
Redeemable debts
None
Unfunded debts
Shortcoming of public debt is
danger of insolvency
danger to countrys freedom
all of the above
Political slavery
Service tax in India was introduced in
2001-02
2006-07
1994-95
1991-92
Securities Transactions Tax(STT) was introduced in the year
2005-06
2006-07
2007-08
2004-05
Scope of public finance includes
Public debt
Public expenditure
All of these
Public revenue
Salaries and pensions paid by governments are called
Development expenditure
Revenue expenditure
Plan expenditure
Capital expenditure
Redemption of public debt means
Repayment of FDI
Additional borrowing
Deficit financing
Repayment of debt
Public goods are non-rivial if
Consumption by one person reduces consumption of other individuals
Some people are excluded from consuming it
all the above
Some people cannot be prevented from consuming it
Public Goods are
Excludable
Non-excludable
Marketable
All of these
Public Expenditure increases
Interest rate
Employment
Exports
Imports
Public Debt Management refers to
Terms of new bonds
Proportion of different components of public debt
Maturity
All the above
Public debt leads to extravagance, encouraged resort to war and induced badeconomic conditions. This statement is of
Dalton
Adam Smith
J.K. Mehta
Findley Shirras
Public Authorities Include
Central Government
State Government
Local Government
All of these
Private goods are characterized by
Application of exclusion principle
Rivalry in consumption
Payment of prices
All the above
Principle of sound finance refers to
Maximum Government spending
Minimum Government spending
Revenue expenditure balanced at the minimum level
Balance between Tax and spending
