1. A Finance Bill is a bill which

2. Maximum Social Advantage is achieved when

3. The tax which is not shared by states is

4. Which of the following effects of deficit financing of the Central Government affects the common man most adversely?

5. Which of the following is not a direct tax?

6. Agricultural income tax is a source of revenue to

7. 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

8. Assertion (A) : Customs duties primarily influence commodity prices.
Reason (R) : Quantitative restrictions are designed to determine the amount of goods imported or exported.

9. Which of the following is a Direct tax?

10. In order to reduce inequalities, the government should adopt

11. Consider the following statements : The objective of personal income tax reform in the recent past has been to
1. bring the 'hard-to-tax' groups into the tax net
2. adopt a highly progressive rate schedule
3. choose moderate rates
4. allow as few deductions and exemptions as is possible Of the above statements

12. In India, federal financial assistance to states is given on the basis of

13. Exemption from the entertainment tax is granted if the entire proceeds are devoted to
1. postal savings
2. shares in new industrial undertakings
3. charitable purposes
4. redemption of debt
Select the correct answer using the codes given below

14. When was Service Tax introduced in India for the first time?

15. Which one of the following is not an objective of fiscal policy?

16. Excise duties, which are the biggest source of revenue of the Union Government, are levied on

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

18. 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

19. Agricultural taxation in India is difficult because of

20. In a.......budget revenue equals expenditure.

21. Which one of the following types of revenues is not shared by the Central Government with the State Governments?

22. Market borrowings of the Central Government are included in

23. Match List I (Nature of deficit) with List II (How it is calculate) and select the correct answer using the codes given below the lists List I List II (a) Fiscal deficit 1. (Revenue and interest receipts) minus (Revenue expendiutre) (b) Revenue deficit 2. Rev enue receipts + Recovery of loans and other receipts) minus (Total expenditure) (c) Budgetary deficit 3. Receipts minus disbursements in Capital account (d) Capital deficit 4. (Total receipts)–(Total disbursements) Codes: (a) (b) (c) (d)

24. Municipalities finance their expenditure by imposing among others

25. Which among the following is a pure public good?