Government Budget

Which of these is an example for Indirect Tax?

• Income Tax

• Wealth Tax

• Corporate Tax

• Sales Tax

Out of these which is a direct tax?

• Sales Tax

• Goods and Service Tax

• Value Added Tax

• Income Tax

Direct Tax

• Imposed on the income of people and properties.

• Impact and incidence lies on the same person.

• Burden cannot be shifted.

• Ex: Income Tax

Indirect Tax

• Imposed on goods and services.

• Impact and incidence lies on same person.

• Impact and incidence lies on different persons.

• Example: Sales Tax, VAT

Tax is a component of

• Revenue Receipt

• Capital Receipt

• Revenue Expenditure

• Capital Expenditure

Which is/are not the examples of Non-Tax Revenue.

• Borrowings

• Interest

• Escheats

• License Fees

Choose the right objectives of Government Budget

• Increasing Inequalities

• Increasing Regional Disparities

• Economic Growth

• Economic Stability

Salary to Employees, Pensions etc. is examples for

• Revenue Expenditure

• Capital Expenditure

Components of Capital Receipts:

• Borrowings

• Recovery of Loans

• Small Deposits

• Disinvestment

Example for Capital Expenditure

• Expenditure on Defence Services

• Building flyovers and bridges

• Salary to employees

• Pensions