General Knowledge >> Economy >> Fiscal System
1). A tax which is paid by the person on whom the tax is incident is called a :
A). local tax B). indirect tax
C). direct tax D). rate
2). Rate of growth of an economy is measured in terms of :
A). per capita income B). industrial development
C). number of people who have been lifted above the poverty line D). national income
3). The standard of living in a country is represented by its :
A). national income B). per capita income
C). poverty ratio D). unemployment rate
4). Which is the best measure of economic growth of a country?
A). GNP B). GDP
C). Net revenue D). None of the above
5). Since 1951, in India :
A). (a) national income has increased but per capita income has decreased B). (b) national and per capita incomes have both increased fast
C). (c ) national income has increased and per capita income has also increased
but at a slower rate
D). (d) national income and per capita income have increased every year
6). Which of the following expenses do not require the sanction of Parliament?
I. Salary and allowances of the President and CAG
II. Debt charges of the Government
III. Defence expenditure
IV. Maintenance expenditure of embassies.

A). I, II, III, IV B). I, II, III, IV
C). I, II D). II, IV
7). Once the demands for grants and expenditure of different departments are passed by the Parliament, a bill to draw money from consolidated Fund India for these purposes is introduced. The bill is called :
A). finance bill B). money bill
C). appropriation bill D). credit budget bill
8). By which bill does the government make arrangement for the collection of revenues for a year?
A). Supplementary Budget B). Finance Bill
C). Fiscal Budget D). Economic bill
9). Grants or advances made by the House to enable the government to carry on until the voting of the demands for grants and passing of the General Appropriation Bill is called :
A). vote on account B). complementary budget
C). supplementary budget D). contingency budget
10). On account of some national emergency or in order to carry out some secret mission, the government sometimes requires funds but may not give the details of the expenditure estimates. The House grants some lump sum for this called :
A). emergency budget B). vote of Credit
C). contingency bill D). supplementary budget