Question No. 1
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?
Question No. 2
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?
Question No. 3
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?
Question No. 4
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?
Question No. 5
Which of the following is an example of “Stealth Tax”?
Question No. 6
Which of the following is/are part of “revenue expenditure”?
1. Subsidies forwarded to all sectors by the government.
2. Postal Deficits of the government.
3. Grants given by the government to Indian states and foreign countries.
Select the correct answer using the codes given below:
Question No. 7
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:
Question No. 8
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:
Question No. 9
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:
Question No. 10
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:
8/10
Very nice
Your Score Card
Total Number of Questions : 10
Total Not Attempted Questions : 0
Total Correct : 8
Total Wrong : 2
You have scored
14.68 / 20
Good attempt
9/10
Great !! nice attempt
7/10
Good attempt
9/10
Score: 17.34/20
Great !! nice attempt
8/10
Very nice
Your Score Card
Total Number of Questions : 10
Total Not Attempted Questions : 0
Total Correct : 7
Total Wrong : 3
8/10
14.68/20
Your Score Card
Total Number of Questions : 10
Total Not Attempted Questions : 0
Total Correct : 8
Total Wrong : 2
You have scored
14.68 / 20
Total Number of Questions : 10
Total Not Attempted Questions : 0
Total Correct : 10
Total Wrong : 0
You have scored
20.00 / 20
Total Number of Questions : 10
Total Not Attempted Questions : 0
Total Correct : 8
Total Wrong : 2
Total Correct : 8
Total Wrong : 2
Your Score Card
Total Number of Questions : 10
Total Not Attempted Questions : 0
Total Correct : 2
Total Wrong : 8
You have scored
-1.28 / 20
*STATE VAT, central sales tax and entry tax has been subsumed under GST.
*Postal deficit of the Governement as well as grant given by the Governement to states and foreign territory are considered as revenue expenditure.
*Cutting down of administrative price mechanism and declaration of higher education as non priority sector are steps taken toward fiscal consolidation in india.
*In 2014 Expenditure management Commision was created by the Governement, whose chairman was Bimal Jalan.
*Rangarajan Committe on public expenditure suggested the concept of Effective Revenue Deficit.
*🚫FRBM review Committe under NK Singh Suggested that combined Debt to GDP ratio of centre and state should be brought down to 60% by 2023
__It also suggested cutting down of revenue deficit by 0.25% of GDP each year to reach 0.8% by 2023.
*Stealth tax are smaller and less visible exam is sales tax.
*Tobin tax is a tax impose on foreign exchange transaction, it hasn’t been implemented in the world anywhere so far.