Who collects sales tax in India: The Central Government or The State Government?

Economic growth means increasing per capita income over a period of time. Economic growth objective of the government budget depends on:

1. Profit maximisation.
2. Rate of savings and investment.
3. Fair distribution of income.
4. Removal of poverty.

State any one objective of government budget.

Categorize the following items into Revenue and Capital Expenditure.
Statement-Repayment of loan.

Categorize the following items into Revenue and Capital Expenditure.
Statement-Loan given to Union Territories.

Is borrowing by the government a revenue receipt?

Categorize the following items into Direct and Indirect Taxes.
Statement-Custom duty. 

Categorize the following items into Revenue and Capital Receipts.
Statement-Sale of 40% shares of a public sector undertaking to a private enterprise.

Why are subsidies treated as revenue expenditure?

Define direct tax. Give two examples of direct taxes.