{"id":906,"date":"2023-06-18T22:50:43","date_gmt":"2023-06-18T17:20:43","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=906"},"modified":"2023-06-19T13:11:52","modified_gmt":"2023-06-19T07:41:52","slug":"taxes-types-methods-and-budgeting-process","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/taxes-types-methods-and-budgeting-process\/","title":{"rendered":"Taxes Types Methods and Budgeting Process- Indian Economy GK MCQ"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/taxes-types-methods-and-budgeting-process\/#Taxes_Types_Methods_and_Budgeting_Process-_Indian_Economy_GK_MCQ_%E0%A4%95%E0%A4%B0_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%95%E0%A5%87_%E0%A4%A4%E0%A4%B0%E0%A5%80%E0%A4%95%E0%A5%87_%E0%A4%94%E0%A4%B0_%E0%A4%AC%E0%A4%9C%E0%A4%9F_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%AF%E0%A4%BE\" >Taxes Types Methods and Budgeting Process- Indian Economy GK MCQ ( \u0915\u0930 \u092a\u094d\u0930\u0915\u093e\u0930 \u0915\u0947 \u0924\u0930\u0940\u0915\u0947 \u0914\u0930 \u092c\u091c\u091f \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/taxes-types-methods-and-budgeting-process\/#Taxes_Types_Methods_and_Budgeting_Process_%E2%80%93_Indian_Economy_GK_MCQ_%E2%80%93_Previous_Year_Questions\" >Taxes Types Methods and Budgeting Process &#8211; Indian Economy GK MCQ &#8211; Previous Year Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/taxes-types-methods-and-budgeting-process\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Taxes_Types_Methods_and_Budgeting_Process-_Indian_Economy_GK_MCQ_%E0%A4%95%E0%A4%B0_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%95%E0%A5%87_%E0%A4%A4%E0%A4%B0%E0%A5%80%E0%A4%95%E0%A5%87_%E0%A4%94%E0%A4%B0_%E0%A4%AC%E0%A4%9C%E0%A4%9F_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%AF%E0%A4%BE\"><\/span>Taxes Types Methods and Budgeting Process- Indian Economy GK MCQ ( \u0915\u0930 \u092a\u094d\u0930\u0915\u093e\u0930 \u0915\u0947 \u0924\u0930\u0940\u0915\u0947 \u0914\u0930 \u092c\u091c\u091f \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Taxes_Types_Methods_and_Budgeting_Process_%E2%80%93_Indian_Economy_GK_MCQ_%E2%80%93_Previous_Year_Questions\"><\/span>Taxes Types Methods and Budgeting Process &#8211; Indian Economy GK MCQ &#8211; Previous Year Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one of the following is not a tax\/duty levied by the Government of India?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67317\">Custom Duty<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67317\">Service Tax<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67317\"> Education<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67317\"> Toll Tax<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Who had suggested an imposition of \u2018expenditure tax\u2019 in India for the first time?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67318\"> Kaldor<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67318\">R.J. Chelliah<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67318\">Kalecki<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67318\">Gautam Mathur<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which among the following are the sources of revenue for the central Government?\r\n\r\nCorporate Tax\r\nProfit from Public Enterprises\r\nSale of National Savings Certificates\r\nLoans received from the World Bank\r\nExcise duties\r\nSelect the correct answer from the codes given below.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67320\">2, 3 and 4<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67320\">3, 4 and 5<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67320\">1, 2 and 3<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67320\">All of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following are part of capital budget of Govt. of India?\r\n\r\nIssuance of Sovereign Gold Bonds\r\nReceipt from Gold Monetization\r\nSelect the correct answer using the code given below:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67321\">(ii) only<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67321\"> Both (i) &amp; (ii)<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67321\">(i) only<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67321\">Neither (i) nor (ii)<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">PAN card issued by the Income Tax Department can\u2019t be used for which of the following purpose?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67322\">proof of registered tax payer<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67322\"> proof of address<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67322\"> proof of identity<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67322\">proof of date of birth<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Consider the following statements:\r\n\r\nTax revenue as a per cent of GDP of India has steadily increased in the last decade.\r\nFiscal deficit as a per cent of GDP of India has steadily increased in the last decade.\r\nWhich of the statements given above is\/are correct ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67324\"> Both 1 and 2<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67324\">1 only<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67324\"> 2 only<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67324\"> Neither 1 nor 2<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following best explains the cascading effect of taxation?\r\n\r\nWhen tax imposition leads to a disproportionate increase in prices by an extent more than the rise in the tax.\r\nWhen tax imposition leads to a disproportionate decrease in prices by an extent more than the rise in the tax.\r\nWhen tax imposition leads to a disproportionate decrease in imports.\r\nWhen tax imposition leads to a disproportionate decrease in exports.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67325\">4 only<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67325\">1 only<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67325\">2 and 3 only<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67325\"> 3 and 1 only<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Indicate the sequence of the following in terms of the implementation.\r\n\r\nIncome Tax\r\nExpenditure Tax\r\nValue Added Tax\r\nFringe Benefits Tax\r\nCodes:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67327\">2, 3, 4, 1<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67327\">1, 3, 2, 4<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67327\"> 1, 2, 3, 4<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67327\">3, 4, 1, 2<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67328\">The Union levies, collects and keeps all the proceeds of income tax to itself<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67328\">The Union levies and collects the tax, but all the proceeds are distributed among the states<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67328\"> The Union levies, collects and distributes the proceeds of income tax between itself and the states<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67328\"> Only the surcharge levied on income tax is shared between the Union and the States<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is not a case of Centre\u2019s Off Budget Borrowings?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67329\"> Borrowing by HUDCO to fund the affordable housing programme<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67329\">Borrowing by NABARD for govts\u2019 irrigation projects<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67329\">Borrowing by FCI to fund the food subsidy programme<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67329\"> Borrowing by NTPC for its power generation projects<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following figures are presented as part of the Budget presentation in Parliament?\r\n\r\nBudgeted receipts and expenses for the next Financial Year (FY)\r\nBudgeted receipts and expenses for the current FY\r\nRevised receipts and expenses for the current FY\r\nActual receipts and expenses for the last FY\r\nSelect the correct answer using the code given below:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67330\"> (i) &amp; (ii) only<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67330\"> (i), (ii), &amp; (iii) only<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67330\"> (i) only<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67330\"> All of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">When was the Wealth tax first introduced in India?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67331\">1976<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67331\"> 1957<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67331\">1991<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67331\"> 1948<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following taxes fall under the state list of Indian Constitution?\r\n\r\nEntertainment tax\r\nLuxury tax\r\nStamp Duty\r\nCustom Duty\r\nSelect the answer using the codes given below<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67332\"> 2, 4 and 5<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67332\">1 and 2<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67332\">1, 3 and 4<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67332\">1, 2 and 4<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following statements are true regarding \u201cDeficit Financing\u201d?\r\n\r\nIt raises aggregate demand in the economy\r\nIt may result in inflation in the economy\r\nIt is used as a developmental tool by developing countries\r\nIt is done by issuing government bonds\r\nSelect the correct answer using the code given below:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67333\">(i), (ii) &amp; (iii) only<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67333\"> (iii) &amp; (iv) only<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67333\">(i) &amp; (ii) only<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67333\">All of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The Public Debt of the Government of India includes which of the following:\r\n\r\nTreasury Bills\r\nExternal Commercial Borrowing (ECB)\r\nNRI deposits\r\nForeign Direct Investment in India (FDI)\r\nSelect the correct answer using the code given below:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67335\"> (i) &amp; (iii) only<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67335\"> (i), (ii) &amp; (iii) only<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67335\">(i) only<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67335\"> (ii) &amp; (iv) only<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which department decides the outlay for Centrally Sponsored Scheme (CSS)<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67337\">Public Finance Division under department of Expenditure<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67337\"> Economic Division under department of Economic Affairs<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67337\"> NITI Aayog<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67337\">None of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Of the following taxes which one is not levied by State Governments?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67338\"> State Excise Duty<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67338\"> Agricultural Income Tax<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67338\"> Entertainment Tax<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67338\"> Corporation Tax<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Agricultural Income Tax is assigned to the State Government by<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67339\">The National Development Council<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67339\">The Inter-State Council<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67339\"> The Finance Commission<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67339\"> The Constitution of India<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Service Tax in India was introduced in the year<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67340\">1996-97<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67340\"> 1998-99<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67340\"> 1994-95<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67340\"> 1991-92<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Fiscal Policy in India is formulated by<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67341\"> the Finance Ministry<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67341\"> the Reserve Bank of India<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67341\"> the Planning Commission<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67341\">the Securities and Exchange Board of India<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n  <\/div>\r\n<script src=\"https:\/\/code.jquery.com\/jquery-3.6.0.min.js\"><\/script>\r\n<script>\r\n$(document).ready(function() {\r\n  $('.show-answer').click(function() {\r\n    var answer = $(this).data('answer');\r\n    $(this).siblings('.answer-box').html('The correct answer is: ' + answer).slideDown();\r\n    $(this).hide();\r\n  });\r\n});\r\n<\/script>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Links\"><\/span>Some Important Links <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/geography\/\" target=\"_blank\" rel=\"noreferrer noopener\">Geography MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/state-gk-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">State GK MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/current-affairs-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs MCQs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-history\/\" target=\"_blank\" rel=\"noreferrer noopener\">Indian History MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-polity\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Polity MCQ<\/strong>s<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-GK-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free GK MCQ App noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg\" alt=\"Free GK MCQ App\" class=\"wp-image-743\" title=\"Free GK MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free GK MCQ App<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-Daily-Current-Affairs-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free Daily Current Affairs MCQ App noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg\" alt=\"Free Daily Current Affairs MCQ App\" class=\"wp-image-744\" title=\"Free Daily Current Affairs MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free Daily Current Affairs MCQ App<\/figcaption><\/figure>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6643489308705072\" crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\" style=\"display:block\" data-ad-format=\"autorelaxed\" data-ad-client=\"ca-pub-6643489308705072\" data-ad-slot=\"2759669284\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>Taxes Types Methods and Budgeting Process- Indian Economy GK MCQ ( \u0915\u0930 \u092a\u094d\u0930\u0915\u093e\u0930 \u0915\u0947 \u0924\u0930\u0940\u0915\u0947 \u0914\u0930 \u092c\u091c\u091f \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e) 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 [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[75],"tags":[797,109,800,767,91,799,589,798,590],"class_list":["post-906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-economy","tag-budgeting-process","tag-competitive-exams","tag-economic-geography","tag-geography-gk","tag-mcqs","tag-methods-of-taxation","tag-previous-year-papers","tag-taxes-types","tag-upsc-ias","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=906"}],"version-history":[{"count":0,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/908"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}