Tag: public finance and budget

Quizzes (7) Questions (140)

Questions Related to public finance and budget

Multiple choice economics public finance and budget black money and tax evasion meaning of tax direct taxes

As part of Banking Sector Reforms in 1991, Priority Sector was enlarged to include -

  1. Software

  2. Venture Capital

  3. Agro-Processing Industries

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

Following the 1991 banking sector reforms, the definition of priority sector lending was expanded to include various sectors like agro-processing, venture capital, and software to boost economic growth.

Multiple choice economics public finance and budget black money and tax evasion meaning of tax direct taxes

The most important source of public revenue is ____________.

  1. taxes

  2. interest

  3. dividend & profit

  4. license fees
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Public revenue is all the revenue receipts of the government. These revenue receipts consists of taxes, interest on loans etc. Majority of the revenue collected by the government is in the forms of taxes i.e. both direct taxes (income tax, wealth tax, property tax) and indirect taxes (GST, service tax). These taxes give revenue in huge quantity and hence it becomes the most important source of public revenue.

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

Which one of the following statement is false?

  1. IFC was established In July 1956

  2. IFC encourages the growth and development of Public Sector Enterprises in member countries

  3. IFC is an affiliate of the World Bank

  4. IF encourages the growth of productive private enterprises in member countries
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The International Finance Corporation (IFC) is an international financial institution formed on July 20, 1956 and affiliated to world bank, that offers investment, advisory, and asset-management services to encourage private-sector development in developing countries since 2009, the IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private-sector entities, and creating jobs and delivering necessary services to those who are poverty stricken or otherwise vulnerable

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 these agencies regulates Securities Market in India?

  1. RBI

  2. SEBI

  3. Stock Exchange

  4. Finance Ministry
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

SEBI (Securities and Exchange Board of India) is the regulatory body for the securities market in India, established to protect investors and promote the development of the market.

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

Deficit Balance of trade suggests that __________.

  1. value of exports of goods > value of imports of goods

  2. value of imports of goods > value of exports on goods

  3. value of exports of goods = value of imports of goods

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

A deficit in the balance of trade occurs when the value of imports of goods exceeds the value of exports of goods.

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

Balance of unrequited transfers includes all gifts, donations, grants and reparation, receipts and payments to foreign countries (true/false)

  1. True

  2. False

  3. Cant say

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

Unrequited transfers (also known as unilateral transfers) in the balance of payments include gifts, donations, and grants where no good or service is received in return.

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

The Planning Commission was set up in _______ by a Resolution of the Government of India.

  1. $March, 1949$

  2. $March, 1950$

  3. $March, 1947$

  4. $March, 1957$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Planning Commission of India was established in March 1950 by a resolution of the Government of India to oversee the country's five-year plans.

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

Balance of payment on capital account deals with the borrowings or lending of the country in question (true/false)

  1. True

  2. False

  3. Cant say

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

The capital account in the balance of payments records all international transactions involving the purchase or sale of assets, including foreign borrowing and lending.