10 PM Daily Current Affairs Quiz | July 19 2021

Consider the following statements regarding measures to achieve “Fiscal Consolidation” in India:
1. Cutting down the burden of salaries and pensions.
2. Cutting down the Administered Price Mechanisms.
3. Higher education declared as non-priority sector.
Which of the statements given above is/are correct?

Consider the following statements with respect to “Expenditure Management Commission (EMC)”:
1. It was created through executive resolution.
2. Raghuram rajan was the first chairman of EMC.
Which of the statements given above is/are NOT correct?

Consider the following statements with respect to “Effective Revenue Deficit” (ERD):
1. It is aimed to deduct the money used out of borrowing to finance capital expenditure.
2. It is suggested by the Bimal Jalan Committee on Public Expenditure.
Which of the statements given above is/are correct?

Which of the following is/are recommendations of “N K Singh committee”?
1. The combined debt-to-GDP ratio of the centre and states should be brought down to 80 per cent by 2023.
2. The Committee advocated Fiscal Deficit as the operating target to bring down public debt.
3. The Committee also recommends that centre reduce its revenue deficit steadily by 0.5% GDP points each year.
Select the correct answer using the codes given below:

Consider the following statements regarding “Pigovian Tax”:
1. It is a tax placed on any good which creates negative externalities.
2. Carbon tax is an example of Pigovian Tax.
Which of the following codes below given is/are correct?

With reference to the “Tax-to-GDP” ratio of India, which of the following statements is/are correct?
1. Higher the tax to GDP ratio the better financial position the country will be in.
2. India’s Tax-to-GDP ratio is higher than the average OECD Tax-to-GDP ratio.
Select the correct answer using the codes given below:

Which of the following statements is/are correct about “Tobin tax”?
1. It is a tax imposes on all foreign exchange transactions.
2. It is not implemented anywhere in the world till now.
Select the correct answer using the codes given below:

Which of the following state taxes is/are subsumed under Goods and Service Tax (GST)?
1. State VAT
2. Central Sales Tax
3. Entry Tax
Select the correct answer using the codes given below: