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41. Fiscal Policy, Budget, India's debt
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5
1.
Which statement defines a balanced budget?
Total expenditure exceeds total revenue
Total revenue equals total expenditure
Total revenue exceeds total expenditure
Total revenue equals or exceeds expenditure
2.
Which among the following imposes a greater burden (relative to resources) on the poor than on the rich ?
Progressive tax
Regressive Tax
Lump Sum tax
Proportional tax
3.
Which best defines Gross Budgetary Support in the Union Budget context?
Value of gross revenue receipts by the government
Budgetary support provided by the Union Government for development expenditure and schemes
Value of total plan expenditure
Fraction of expenditure on different Central sectors plans
4.
Under the pre-2017 Plan/Non-Plan budget classification, which among the following is NOT a Non-Plan Expenditure?
Interest payments on loans
Defense expenditure
Pension payments to government employees
Central Assistance to States for developmental projects
5.
Which tools and goals define fiscal policy?
Managing interest rates and money supply
Taxation and government spending to influence economy
Open market operations for bank reserves
Setting reserve requirements for banks
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