GOVERNMENT BUDGET AND THE ECONOMY

An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as :

• BUDGET

• INCOME ESTIMATES

• ACCOUNTS

• EXPENDITURE

Which of the following is an example of direct tax?

• VAT

• EXCISE DUTY

• ENTERTAINMENT TAX

• WEALTH TAX

What is the period of a fiscal year?

(A) 1 April to 31 March

(B) 1 January to 31 December

(C) 1 March to 28 February

(D) None of these

• 1 April to 31 March

• 1 Jan to 31 December

• 1 March to 28 February

• None of these

When government spends more than it collects by way of revenue, it incurs __

• Budget surplus

• Budget Deficit

• Capital Expenditure

• Revenue Expenditure

Which type of expenditure is made in bridge construction?

• Capital exp.

• Revenue exp.

• Both a & b

• None of the above

___ budget is considered good for the country.

Service tax is levied by the ____

The government can influence the allocation of resources through the implementation of appropriate ___

___ does not have any impact on the asset-liability status of the government.

Budget speech in Lok Sabha is given by:

• President

• Prime Minister

• Finance Minister

• Home Minister