WorksheetsUnion Budget and Types of Budget
Total questions: 20
Worksheet time: 10mins
According to Article _____ of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year.
115
170
112
270
Union Budget keeps the account of the government's finances for the fiscal year that runs from __________.
31st April to 1st March of next year
1st April to 31st March of next year
1st March to 31st April of next year
1st January to 31st December of same year
Which of the following is a non tax eceipts?
Gift tax
sale tax
Donations
Excise duty
Which of the fololowing are the objective of government budget?
Distrtibution of Income nd wealth
Economic stability
GDP growth
all of these
Ptrogressive tax is a tax whch is-
Charged at decreasing rate when income of individual increase
Charged at increaing rate when income of individual increase
A fixed percentage of an individual income
none of these.
Which of following is a direct tax?
Income tax
Excise duty
Custom duty
Sale tax
Which of the following is a part of the revenue expenditure in the indian government budget?
Intreast payment
Defence Purchase
Wage bill of the Government
All of these
Capital receipts is that receipts of the Government which:
creats a liability
reduce the assets
Both (1) and (2)
none
Which of the following are capital receipts of the Government?
Recovery of loan
Borrowings
Disinvestment
all of these
Deficit budget refers to that situation in which governments budget expenditure is -
less than its budget receipts
more than its budget receipts
equal its budget receipts
none of these
Fiscal deficit =
Total expenditure - total receipts other than borrowing
revenue expenditure - revenue receipts
capital expenditure - capital receipts
fiscal deficit - intrest payment
In which of the following ways , can deficit in budget be financed?
Borrowings from RBI
Borrowing from public
Borrowing from IMF
all of the above
Difference between fiscal deficit and intrest payment is called-
revenue deficit
fiscal deficit
primary deficit
none of the above
The programme and policies of the government as presented in the budget are know as (a) policy of the government.
If increase in income leads to reduction in tax rate , such types of tax system are known as---------
(a)
When revenue expenditure is greater than revenue receipts it is called
Fiscal deficit
Primary deficit
Revenue deficit
None of these
•When government estimated expenditure is either more or less than government estimated receipts, the budget is said to be a/ an _____.
balanced budget.
unbalanced budget
In _____ Budgeting, the previous year's budget is taken as a base for the preparation of a budget.
traditional
zero-based budgeting
The chief function of the ______ is to enact laws.
legislature
executive
A performance budget is one that reflects ________ for each unit of an organization.
the input of resources
both the input of resources and the output of services
the output of services
neither the input of resources nor the output of services
