Read the passage given below and answer the following questions from 1 to 4.
In the Government of India's budget for the year 2013 - 14, the Finance Minister proposed to raise the Goods and Services Tax (GST) on cigarettes. He also proposed to increase income tax on individual earning more than rupee one crore per annum.
In the Government of India's budget for the year 2013 - 14, the Finance Minister proposed to raise the Goods and Services Tax (GST) on cigarettes. He also proposed to increase income tax on individual earning more than rupee one crore per annum.
- Identify the taxes proposed to be increased by the Budget 2013 - 14. The taxes proposed are:
- Goods and Services tax on cigarettes.
- Income tax on individuals earning Rs. 1 crore or above.
- Both [a] and [b]
- None of the above
- What was the objective(s) behind the proposals put forth in the Budget 2013 - 14?
- Revenue generation
- Social welfare
- Both [a] and [b]
- None of these
- What welfare objective the government wishes to achieve by increasing GST on cigarettes?
- This will discourage their cigarettes
- This will encourage their cigarettes
- Both [a] and [b]
- None of the above
- What would be the effect of increase in direct tax on the rich?
- It will reduce the gap between rich and the poor, thereby reducing inequalities in income
- It will increase the gap between rich and the poor
- Both [a] and [b]
- None of the above
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- (C) Both [a] and [b]
- (C) Both [a] and [b]
- (A) This will discourage their cigarettes.
- (A) It will reduce the gap between rich and the poor, thereby reducing inequalities in income.
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