Taxes Types Methods and Budgeting Process- Indian Economy GK MCQ ( कर प्रकार के तरीके और बजट प्रक्रिया)
Enhance your knowledge of money supply, banking, and financial institutions with a comprehensive collection of Multiple Choice Questions (MCQs) sourced from previous year papers of various competitive exams, including UPSC IAS. Test your understanding, sharpen your analytical skills, and stay updated with key concepts in monetary economics.
Brief: Are you seeking a reliable resource to deepen your understanding of money supply, banking, and financial institutions? Look no further! Our MCQs page offers a wide range of questions sourced from previous year papers of various competitive exams, including UPSC IAS and more.
Embark on a stimulating learning journey as you explore this repository of MCQs. By attempting these questions, you can assess your knowledge, identify areas for improvement, and strengthen your conceptual understanding of money supply, banking systems, and financial institutions.
Our MCQs cover a diverse array of topics related to money supply, banking, and financial institutions. Whether you are a student preparing for a competitive exam or an individual interested in monetary economics, this resource is an invaluable tool. Engage with the questions sourced from previous year papers to stay updated with the latest concepts, principles, and developments in these areas.
By practicing with these MCQs, you can enhance your analytical thinking, problem-solving abilities, and decision-making skills in the context of monetary economics. Develop a comprehensive understanding of money creation, banking operations, financial intermediation, central banking, and regulatory frameworks.
Maximize the utility of this page to excel in your exams. Dive into focused study sessions, reinforce your knowledge, and boost your confidence in tackling questions related to money supply, banking systems, and financial institutions.
Taxes Types Methods and Budgeting Process – Indian Economy GK MCQ – Previous Year Questions
Question:
Which one of the following is not a tax/duty levied by the Government of India?
A
B
C
D
Question:
Who had suggested an imposition of ‘expenditure tax’ in India for the first time?
A
B
C
D
Question:
Which among the following are the sources of revenue for the central Government?
Corporate Tax
Profit from Public Enterprises
Sale of National Savings Certificates
Loans received from the World Bank
Excise duties
Select the correct answer from the codes given below.
A
B
C
D
Question:
Which of the following are part of capital budget of Govt. of India?
Issuance of Sovereign Gold Bonds
Receipt from Gold Monetization
Select the correct answer using the code given below:
A
B
C
D
Question:
PAN card issued by the Income Tax Department can’t be used for which of the following purpose?
A
B
C
D
Question:
Consider the following statements:
Tax revenue as a per cent of GDP of India has steadily increased in the last decade.
Fiscal deficit as a per cent of GDP of India has steadily increased in the last decade.
Which of the statements given above is/are correct ?
A
B
C
D
Question:
Which of the following best explains the cascading effect of taxation?
When tax imposition leads to a disproportionate increase in prices by an extent more than the rise in the tax.
When tax imposition leads to a disproportionate decrease in prices by an extent more than the rise in the tax.
When tax imposition leads to a disproportionate decrease in imports.
When tax imposition leads to a disproportionate decrease in exports.
A
B
C
D
Question:
Indicate the sequence of the following in terms of the implementation.
Income Tax
Expenditure Tax
Value Added Tax
Fringe Benefits Tax
Codes:
A
B
C
D
Question:
Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct?
A
B
C
D
Question:
Which of the following is not a case of Centre’s Off Budget Borrowings?
A
B
C
D
Question:
Which of the following figures are presented as part of the Budget presentation in Parliament?
Budgeted receipts and expenses for the next Financial Year (FY)
Budgeted receipts and expenses for the current FY
Revised receipts and expenses for the current FY
Actual receipts and expenses for the last FY
Select the correct answer using the code given below:
A
B
C
D
Question:
When was the Wealth tax first introduced in India?
A
B
C
D
Question:
Which of the following taxes fall under the state list of Indian Constitution?
Entertainment tax
Luxury tax
Stamp Duty
Custom Duty
Select the answer using the codes given below
A
B
C
D
Question:
Which of the following statements are true regarding “Deficit Financing”?
It raises aggregate demand in the economy
It may result in inflation in the economy
It is used as a developmental tool by developing countries
It is done by issuing government bonds
Select the correct answer using the code given below:
A
B
C
D
Question:
The Public Debt of the Government of India includes which of the following:
Treasury Bills
External Commercial Borrowing (ECB)
NRI deposits
Foreign Direct Investment in India (FDI)
Select the correct answer using the code given below:
A
B
C
D
Question:
Which department decides the outlay for Centrally Sponsored Scheme (CSS)
A
B
C
D
Question:
Of the following taxes which one is not levied by State Governments?
A
B
C
D
Question:
Agricultural Income Tax is assigned to the State Government by
