Question : The government budget is classified into ____________ and ____________.
Option 1: Direct taxes, indirect taxes
Option 2: Planned expenditure, non-planned expenditure
Option 3: Revenue receipts, revenue expenditure
Option 4: Current account, capital account
Correct Answer: Planned expenditure, non-planned expenditure
Solution : The correct answer is (B) Planned expenditure and non-planned expenditure.
Planned expenditure refers to the government's spending on planned development programs and projects. These expenditures are part of the government's long-term development plans and are aimed at achieving specific socio-economic objectives. Examples of planned expenditure include investments in infrastructure, education, healthcare, and other developmental initiatives.
Non-planned expenditure, on the other hand, refers to the government's spending that is not directly related to planned development programs. It includes regular and recurring expenses such as interest payments on loans, defense expenditure, salaries and pensions of government employees, subsidies, grants, and other non-development expenditures.
Question : The "Annual Financial Statement" in the government budget includes:
Option 1: Revenue Budget and Capital Budget
Option 2: Receipts Budget and Expenditure Budget
Option 3: Consolidated Fund and Public Account
Option 4: Direct Taxes and Indirect Taxes
Question : Non-tax revenue is part of ______.
Option 1: Revenue expenditure
Option 2: Revenue receipts
Option 3: Capital expenditure
Option 4: Capital receipts
Question : Income and Expenditure account records:
Option 1: Revenue receipts and payments
Option 2: Capital receipts and payments
Option 3: Only revenue receipts
Option 4: Only capital payments
Question : The government's borrowings from the public are known as ____________.
Option 1: Revenue receipts
Option 2: Capital receipts
Option 3: Revenue expenditure
Option 4: Capital expenditure
Question : In a government budget, revenue receipts = 13200, revenue expenditure = 14700, capital receipts net of borrowings = 4000, capital expenditure = 17300, and interest payments = 2350, fiscal deficit will be:
Option 1: 18800
Option 2: 14800
Option 3: 17150
Option 4: 12450
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