taxes types, methods & budgeting process section 2 MCQ Questions & Answers Detailed Explanation

Answer: (b)

Answer: (a)

Answer: (d)

The Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act 2016 is an Act to provide for, as good governance, efficient, transparent, and targeted delivery of subsidies, benefits and services, the expenditure for which is incurred from the Consolidated Fund of India or Consolidated Fund of States (States were allowed to transfer benefit through an amendment done 2019) to individuals residing in India (for more than 182 days) through assigning of unique identity numbers.

As per section 7 of the Aadhar Act:

“The Central Government or, as the case may be, the State Government may, for the purpose of establishing the identity of an individual as a condition for receipt of a subsidy, benefit or service for which the expenditure is incurred from, or the receipt therefrom forms part of, the Consolidated Fund of India, require that such individual undergo authentication, or furnish proof of possession of Aadhaar number or in the case of an individual to whom no Aadhaar number has been assigned, such individual makes an application for enrolment: Provided that if an Aadhaar number is not assigned to an individual, the individual shall be offered alternate and viable means of identification for delivery of the subsidy, benefit or service.”

Pursuant to the Act, the government made Aadhaar Regulations 2016:

“Any Central or State department or an agency which requires an individual to undergo authentication or furnish proof of possession of Aadhar number as a condition of receipt of any subsidy, benefit or service pursuant to Section 7 of the Aadhar Act, shall ensure enrolment of its beneficiaries who are yet to be enrolled, through appropriate measures.”

Answer: (b)

Laffer curve is a representation of the relationship between possible rates of taxation and the resulting levels of government revenue.

It illustrates the concept of taxable income elasticity-i.e., taxable income will change in response to changes in the rate of taxation.

Phillips Curve is a supposed inverse relationship between the level of unemployment and the rate of inflation.

Answer: (b)

Answer: (c)