1. Fiscal deficit in the Union Budget means:

2. The most expensive head under public-revenue expenditure in the Union Budgets of the last decade has been

3. It is generally believed that a rise in the tax rate would normally lead to a rise in the revenue. But there is also a view the reduced rates on income tax would lead to a significant rise in income tax revunue. This later view has been attributed to

4. A curve which show the relationship between tax rate and tax revenue is known as

5. Which one among the following can not be made a progressive tax?

6. Budgetary deficit of the Government of India is equal to

7. The tax which is not shared by states is

8. Which one of the following forms the largest share of deficit in Government of India budget?

9. In the Indian context deficit financing means

10. Consider the following statements regarding savings in different sectors of an economy
1. savings of private corporate sector constitute undisturbed profits
2. savings of private corporate sector consitute excess of income over expenditure
3. savings of government sector constitute excess of revenue receipts over revenue expenditure
4. savings of government sector constitute excess of total revenue over total expenditure Of the above statements

11. Consider the following statements The division of incidence of a tax between buyers and sellers is governed by
1. elasticity of demand and supply.
2. cost conditions.
3. market structure. Of these statements

12. Consider the following statements The Indian Income Tax is
1. progressive 2. proportionate
3. direct 4. income-elastic Of these statements–

13. Which one of the following is the aim of functional finance?

14. Which sector has maximum share in Gross Domestic Saving in India?

15. Consider the following statements The Reserve Bank of India
1. acts as a Banker's Bank
2. act as a controller of capital issues
3. issues currency notes of various denominations
4. acts as a lender of the last resort for the sick industrial units Which of the above statements are correct?

16. Which one of the following entails minimum expenditure by the Government of India?

17. The Union Government does NOT issue one of the following

18. Expenditure on 'general services' is

19. Municipalities finance their expenditure by imposing among others

20. Since 1990, savings of the household sector in India have been

21. Which of the following taxes is levied by the State Government only?

22. Which one of the following taxes is not levied by state Governments?

23. The effect of deficit financing is

24. Union Excise duties are a part of Central Governments

25. Capital gains mean