Primary deficit in a government budget is: (Choose the correct alternative)

1. Revenue expenditure - Revenue receipts.
2. Total expenditure - Total receipts.
3. Revenue deficit - Interest payments.
4. Fiscal deficit - Interest payments.

Budget is a:

1. Financial statement.
2. Monetary statement.
3. Political statement.
4. All of them.

Find direct tax among the following taxes:

1. Personal income tax.
2. Excise duty.
3. Sales tax.
4. Service tax.

________ taxes do not depend on the level of income.

1. Direct
2. Indirect
3. Progressive
4. Lumpsum

High___________ gives a warning to the government either to cut its expenditure or increase its tax receipts.

1. budget
2. revenue deficit
3. primary deficit
4. fiscal deficit

When the government tries to meet the gap of public expenditure and public revenue through borrowing from the banking system, it is called _______.

1. Deficit financing.
2. Debt financing.
3. Credit financing.
4. None of them.

Disinvestment by government means:

1. Selling of its fixed capital assets.
2. Selling of shares of public enterprises held by it.
3. Selling of its buildings.
4. All the above.

A _________ is a legally compulsory payment imposed by the government on the households and producers.

1. penalty
2. fine
3. fees
4. tax

Budget is placed before:

1. Lok Sabha.
2. Rajya Sabha.
3. Both Lok Sabha and Rajya Sabha.
4. Parliament.

Which of the following statement is not correct?

1. Dividends on investment made by government is a revenue receipt.
2. Borrowing from public is a capital receipt.
3. Subsidy on diesel oil for cars is a wasteful expenditure by the government.
4. Non-plan expenditure does not contribute to social welfare.