taxes types, methods & budgeting process section 4 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 6 EXERCISES
-
Top 500+ Indian Taxation System GK MCQ Quiz For SSC »
-
Top 500+ Taxes Types & Budgeting Process GK MCQ Quiz PDF »
-
499+ Tax Slab Types Benefits And Penalty GK MCQ Quiz PDF »
-
New 499+ Indian Taxation Laws Budget Current GK MCQ Quiz »
-
New 500+ Indian Income Tax Slab Laws Acts GK MCQ Quiz PDF »
-
1000+ Indian Tax System Types Concepts MCQ Quiz For IBPS »
The following question based on Taxes Types, Methods & Budgeting Process topic of indian economy mcq
- FDI investment in India
- FPI’s debt and equity investments in India
(a) (ii) only
(b) Both (i) & (ii)
(c) (i) only
(d) Neither (i) nor (ii)
The correct answers to the above question in:
Answer: (b)
If you have purchased shares/equity of a company then it is the liability of the company towards you.
India’s external liabilities include all the investments made in India either in the form of debt or equity. So, it will include everything FDI, FPI (debt and equity both), External Commercial Borrowing, Govt. of India borrowings from abroad, NRI deposits in India.
Total external liabilities are around 41% of GDP, in which both debt and equity are around equally distributed.
Practice Taxes Types, Methods & Budgeting Process (taxes types, methods & budgeting process section 4) Online Quiz
Discuss Form
Read more taxes types methods budgeting process Based Indian Economy Questions and Answers
Question : 1
Which of the following statement is not true regarding "Outcome Budget":
a) It measures development outcomes of govt. programmes
b) It helps in better service delivery
c) It is not presented in parliament
d) It reduces unnecessary expenses
Answer »Answer: (c)
The “Outcome Budget” reflects the endeavour of the Government to convert "Outlays" into "Outcomes" by planning expenditure, fixing appropriate targets and quantifying deliverables of each scheme.
The “Outcome Budget” is an effort of the Government to be transparent and accountable to the people. The outcome budget is presented in the parliament.
Question : 2
Consider the following statements:
- Fiscal deficit increases aggregate demand in the economy
- Fiscal deficit is financed by borrowing from RBI
a) (ii) only
b) Both (i) & (ii)
c) (i) only
d) Neither (i) nor (ii)
Answer »Answer: (c)
When government incurs a fiscal deficit, the expenditure leads to an increase in total demand in the economy.
RBI is not allowed to lend to Government for the long term fiscal deficit bonds as per the FRBM Act 2003.
Question : 3
Consider the following statements regarding GST:
- The market price of a product will be the same all across India
- The producing State will not get GST
- It will allow seamless passage of input tax credit across States
- It will not lead to cascading effect of taxes
a) (ii) & (iv) only
b) (i), (iii) & (iv) only
c) (i) & (ii) only
d) (ii), (iii) & (iv) only
Answer »Answer: (d)
Question : 4
Consider the following statements regarding IGST:
- It is levied by the Centre on interstate supply of goods
- The IGST rate is equal to CGST plus the SGST/UTGST rate
- The tax revenue is shared equally among the Centre and the consuming State/UT
a) (ii) only
b) (i) & (iii) only
c) (i) only
d) All of the above
Answer »Answer: (d)
Integrated GST (IGST) is levied by the Centre on inter-state supply of goods and services and on imports and exports (on exports effectively there is no tax) of goods and services.
The IGST rate is equal to CGST and the SGST/UTGST rate. The tax revenue is shared equally among the Centre and the consuming State/UT.
Question : 5
In India, the price of petroleum products has been deregulated mainly to
a) discourage the demand for private vehicles
b) reduce the burden of subsidies given to the oil companies
c) discourage the exploration of oil reserves in the country
d) curb the use of black money in the economy
Answer »Answer: (b)
The sharp decline in the crude oil price helped the government to deregulate the price of diesel and thus reduce a huge burden of subsidy on the exchequer.
India if not a producing giant, is certainly a refining hub where it refines and markets around 220 metric million tonnes of petroleum products.
Out of this, around 160 MMT is used for domestic consumption while the rest is used for exports. Therefore, the drop in the price of oil will be a blessing for the Indian refineries and the oil marketing companies.
Question : 6
From which of the tax following direct taxes gives maximum net revenue to the Government?
a) Income Tax
b) Wealth Tax
c) Corporation Tax
d) Gift Tax
Answer »Answer: (c)
GET Taxes Types, Methods & Budgeting Process PRACTICE TEST EXERCISES
taxes types, methods & budgeting process section 1
taxes types, methods & budgeting process section 2
taxes types, methods & budgeting process section 3
taxes types, methods & budgeting process section 4
taxes types, methods & budgeting process section 5
taxes types, methods & budgeting process section 6
Taxes Types, Methods & Budgeting Process Shortcuts and Techniques with Examples
Verbal Reasoning
Question & Answer Quiz
Non Verbal Reasoning
Question & Answer Quiz
Quantitative Aptitude
Question & Answer Quiz
Computer MCQ
Question & Answer Quiz
General English
Question & Answer Quiz
History GK
Question & Answer Quiz
Polity GK
Question & Answer Quiz
Geography GK
Question & Answer Quiz
Economy GK
Question & Answer Quiz
General Awareness GK
Question & Answer Quiz
Recently Added Subject & Categories For All Competitive Exams
Most Important Antonyms Vocabulary - IBPS Clerk Prelims 2024
Latest Antonyms multiple choice questions and answers with free PDFfor IBPS Clerk Prelims 2024. English Vocabulary practice exercise for all bank exam
Continue Reading »
Syllogism Practice Questions Answers PDF - IBPS Clerk 2024
Practice Verbal Reasoning Syllogism multiple choice questions and answers with Fully solved explanation, PDF for the IBPS Clerk Prelims 2024 Bank Exam
Continue Reading »
IBPS Clerk Prelims 2024 Synonyms Questions Solved Answers
Most important IBPS Clerk Prelims 2024 Synonyms and Antonyms multiple choice questions and answers with detailed solutions, English vocabulary PDF Download
Continue Reading »
New Cloze Test Questions and Answers PDF - IBPS Clerk 2024
The most important Cloze Test questions with detailed answers for upcoming IBPS Clerk prelims 2024. Latest English verbal ability practice MCQs, PDF
Continue Reading »