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

(a)   budget is considered good for the country.

Service tax is levied by the (a)  

The government can influence the allocation of resources through the implementation of appropriate (a)  

(a)   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