Tag: government budget and economy

Quizzes (6) Questions (228)

Questions Related to government budget and economy

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

Measures introduced to correct BOP position in 1992-93 were ______.

  1. exchange rate management

  2. liberalization of import licensing

  3. tariff reductions

  4. all of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The 1991 economic reforms included comprehensive measures to stabilize the BOP, including currency devaluation (exchange rate management), the removal of restrictive import licensing, and the lowering of customs tariffs.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

At present only . industries are reserved for the Public Sector.

  1. 5

  2. 7

  3. 8

  4. 3
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Only 3 industries are currently reserved for the Public Sector: Atomic Energy, Railway Operations, and substances specified in the schedule to the Department of Atomic Energy notification. This is a significant reduction from earlier periods when many more industries were exclusively reserved for public sector.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

The term mixed economy denotes.

  1. Co-existence of consumer and producer's goods Industries in the economy

  2. Co existence of private & public sectors in the economy

  3. Co existence of urban & rural sectors in the economy

  4. Co existence of large & small industries sectors in the economy
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A mixed economy is defined by the coexistence of both private enterprise and government-owned public sector entities. This structure allows for market mechanisms alongside state intervention.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

Which of the following industries are not reserved for Public Sector presently?

  1. Atomic Energy

  2. Rail Transport

  3. Substances specified in the schedule to the Notification of the Government of India in the Department of Atomic Energy

  4. Defence
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Atomic energy and railway transport are reserved for the public sector. Defence production has been opened up to private sector participation, meaning it is no longer exclusively reserved for the public sector.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

The concept of which deficit was given up in 1997?

  1. Budgetary Deficit

  2. Fiscal Deficit

  3. Revenue Deficit

  4. Primary Deficit
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The concept of 'Budgetary Deficit' was discontinued in India starting from the 1997-98 budget. It was replaced by more precise measures like fiscal deficit, revenue deficit, and primary deficit.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

Total Expenditure - Total Receipts =

  1. Budgetary Deficit

  2. Fiscal Deficit

  3. Revenue Deficit

  4. Primary Deficit
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Budgetary deficit is the excess of total government expenditure (both revenue and capital) over total government receipts (both revenue and capital). It is the deficit in the budgetary estimates of the government.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

There is no repayment obligation in ___________.

  1. grants

  2. loans

  3. both grant and loans

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Grants are non-repayable funds provided by one party to another, often for specific projects or development purposes. Unlike loans, there is no obligation to pay back the principal or interest.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

Total Expenditure - [Revenues Receipts + Recovering + Sale of Public Assets]=

  1. Budgetary Deficit

  2. Fiscal Deficit

  3. Revenue Deficit

  4. Primary Deficit
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Fiscal deficit is defined as excess of total budget expenditure over total budget receipts excluding borrowings during a fiscal year. In simple words, it is amount of borrowing the government has to resort to meet its expenses. A large deficit means a large amount of borrowing. 

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

SKS Micro-finance Ltd, the only listed micro lender in the country founded by _____________.

  1. Sudipa Sen

  2. M. B. N. Rao

  3. Kunal Ghosh

  4. Vikram Akula
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

SKS Microfinance, the country’s only scheduled microlender, plans to change itself into a small bank as it seeks to decrease the cost of funds and progress productivity. 

Top management at the company told ET that the company will concern for a small bank licence, a move that may put it in direct competition with its separated founder Vikram Akula, who also plans to set up a small bank. 

“SKS is prepared to be relevant for a small bank licence as it meets all necessary criteria like net worth, PSL (priority sector lending) and branch network,” said the decision-making on condition of ambiguity. “We can provide to the need for financial inclusion and it will help us bring down our cost of funds.”

Thus, the correct option is D.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

In a marine insurance, when must the insurable interest exist?

  1. At the time of making contract

  2. At the time of loss of subject matter

  3. Both at the time of making contract and at the time of loss of subject matter

  4. At the time of termination of the policy
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In marine insurance, the insurable interest must exist at the time of the loss of the subject matter. This differs from life insurance, where it must exist at the time of the contract.