DEFENCE Economy CT 4: Government budgeting and Fiscal Policy

Welcome to your DEFENCE Economy CT 4: Government budgeting and Fiscal Policy

Question No. 1

What is ‘Zero Base Budgeting’?

A. No appraisal of new programs

B. Preparation of new budget every time

C. No curtailment in unproductive expenditure

D. Infinite deficit financing

None

Question No. 2

Which of the following statements is correct regarding gender budgeting in India?

A. It ensures that financial outlays are made from a gender perspective.

B. It started in India with the Union Budget 2016–17.

C. It seek to create a separate budget.

D. More than one of the above

None

Question No. 3

Which of the following taxes is/are considered to be regressive in nature?

1. Goods and Service Tax

2. Income Tax

3. Cess

4. Value-added Tax

Select the correct answer using the code given below

A. 2 and 3 only

B. 1, 3 and 4 only

C. 1 and 4 only

D. 1, 2, 3 and 4

None

Question No. 4

According to the Union Budget 2023-2024, in which sector does the Union Government expend the highest money?

A. Subsidies

B. Defence

C. Centrally sponsored schemes

D. Interest payments

None

Question No. 5

What was the total allocation for the Ministry of Railway in the Union Budget 2023-24?

A. Rs. 2.40 lakh crore

B. Rs. 2.50 lakh crore

C. Rs. 2.60 lakh crore

D. Rs. 2.70 lakh crore

None

Question No. 6

With reference to Economic Survey 2022-23, consider the following statements:

1. Insurance penetration in India has been steadily increasing, with life insurance penetration being above the emerging markets and global averages

2. The Pension Sector has witnessed a robust increase in subscribers and assets under management (AuM).

Which of the statements given above is/are correct?

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

None

Question No. 7

Which of the following are the fiscal policy measures taken by the government to control inflation?

A. Reduction in public expenditure and public borrowing.

B. Decreasing taxes on private businesses

C. Increasing interest rates in the economy.

D. Increase public expenditure and public borrowing.

None

Question No. 8

8. Match the following.

	List I		List II
A.	Direct tax	1.	Excise duty
B.	Indirect tax	2.	Interest receipt
C.	Non-tax receipts	3.	Income tax

A. A - 1, B - 2, C - 3

B. A - 2, B - 3, C - 1

C. A - 3, B - 1, C - 2

D. A - 3, B - 2, C - 1

None

Question No. 9

Fiscal deficit less interest payments is _______.

A. revenue deficit

B. budget deficit

C. fiscal surplus

D. primary deficit

None

Question No. 10

Consider the following:

1. Disinvestment proceeds

2. Foreign government grants

3. Loans received from international organizations

4. Loan recoveries from States and Union Territories

Which of the above constitute capital receipts of the Government of India?

A. 1 and 2 only

B. 2 and 4 only

C. 1, 3 and 4 only

D. 1, 2, 3 and 4

None

DEFENCE Economy CT 4: Government budgeting and Fiscal Policy

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