Question : Which of the following is an example of revenue receipt of the government?
Option 1: Receipts from sale of shares of public sector companies
Option 2: Recovery of loans
Option 3: GST collected by the government
Option 4: Borrowings from public
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Correct Answer: GST collected by the government
Solution : The correct option is GST collected by the government.
The Goods and Services Tax (GST) collected by the government is considered a revenue receipt. A consumption-based tax called GST is applied to the flow of goods and services. Businesses serve as the government's agents when they collect GST from their clients. After that, the government receives the collected GST. Many government expenses, including the construction of infrastructure, social programs, and other government initiatives, are paid for with the proceeds from this revenue.
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Question : Which of the following is not included in capital receipts?
Option 1: Foreign aid
Option 2: Taxes
Option 3: Recovery of loans
Option 4: Borrowings
Question : Land Revenue under Tipu -
Option 1: Was mainly collected through revenue officers.
Option 2: Was mainly collected by Government officials appointed by Tipu .
Option 3: Was collected by interme-diaries .
Option 4: Was not allowed to go into the hands of Sultan .
Question : Non-tax revenue is part of ______.
Option 1: Revenue expenditure
Option 2: Revenue receipts
Option 3: Capital expenditure
Option 4: Capital receipts
Question : Which of the following is not a capital expenditure?
Option 1: Loans and advances by the central government
Option 2: Expenditure on the acquisition of land
Option 3: Investment in shares
Option 4: Subsidies payment
Question : If the government revenue expenditure exceeds revenue receipt, it is called:
Option 1: revenue deficit
Option 2: primary deficit
Option 3: capital deficit
Option 4: fiscal deficit
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