Trivia Questions On Indian Economy! Quiz

10 Questions | By Jagranjosh | Updated: Mar 21, 2022 | Attempts: 784

Questions

Settings

Trivia Questions On Indian Economy! Quiz - Quiz

Do you want to enhance your knowledge about Indian economy? This quiz can be of assistance. The economy of India is characterized as middle-income developing market economy. This quiz will touch on what fiscal deficit is, the quality of tax, what is contained in the revenue budget, and the most important factor in the central government's revenue expenditure. This quiz is all about the Indian economy. You can do it.

Questions and Answers

1.

If interest payment is deducted from the fiscal deficit, then the balance is
- A.
  
  Primary deficit
- B.
  
  Budgetary deficit
- C.
  
  Revenue deficit
- D.
  
  Monetary deficit
2.

Which is the characteristic of a tax?
- A.
  
  Tax is a payment for government service
- B.
  
  Tax is a compulsory payment
- C.
  
  Tax is voluntary
- D.
  
  To get benefit for a tax is compulsory
3.

Which government income is included in the revenue budget?
- A.
  
  Tax-revenue
- B.
  
  Non-tax-revenue
- C.
  
  Both of above
- D.
  
  None of the above
4.

Which is included in the Capital budget?
- A.
  
  Income received from public borrowings
- B.
  
  Income received from tax-sources
- C.
  
  Income received from non-tax sources
- D.
  
  All of the above
5.

Which is not included in the principles of public expenditure as developed by Findley Shirras ?
- A.
  
  Principle of Economy
- B.
  
  Principle of Sanction
- C.
  
  Principle of Elasticity
- D.
  
  Principle of Surplus
6.

Which of the following is the largest significant factor in revenue expenditure of the Central Government?
- A.
  
  Defense Expenditure
- B.
  
  Subsidy
- C.
  
  Interest Payment
- D.
  
  Salary
7.

In comparison to revenue deficit; the size of fiscal deficit is always
- A.
  
  Higher
- B.
  
  Smaller
- C.
  
  Similar
- D.
  
  Uncertain
8.

What is CENVAT?
- A.
  
  Direct Tax
- B.
  
  Indirect Tax
- C.
  
  Development Planning
- D.
  
  None of the above
9.

Where is the Indian Diamond Institute (IDI) established?
- A.
  
  New Delhi
- B.
  
  Mumbai
- C.
  
  Surat
- D.
  
  Jaipur
10.

What is the nature of income tax in India?
- A.
  
  Proportional
- B.
  
  Progressive
- C.
  
  Regressive
- D.
  
  None of the above