Government provides various goods like roads, parks, street light and defence services etc to general public through budgetary provisions. These goods are called ________.
Expenditure by the government on the construction of a hospital building will be taken as ________ only as long as the hospital project is not completed.
Assertion (A): Fiscal deficit indicates the total borrowing requirements of the government. Reason (R): Government mainly borrows from RBI to meet its fiscal deficit. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): “Borrowings is an example of a capital receipt. Reason (R): It neither leads to an increase in liability of repayment on government nor reduction of assets. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Taxes received by the government are not revenue receipts. Reason (R): Because taxes neither create any liability nor reduce any asset of the government. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): A custom duty on cotton raised from 0 percent to 10 percent in the Budget 2021. Reason (R): Custom Duty is not subsumed in GST. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Primary Deficit is the Root Cause of Fiscal Deficit. Reason (R): High Primary Deficit indicates that interest commitments (on earlier loans) have forced the government to borrow. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Salaries paid to the central government employees are a part of revenue expenditure Reason (R): It generates revenue for the government. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Income tax is a great source of revenue for the government. Reason (R): It is a direct tax as its burden can not be shifted. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Strategic sale of BPCL, IDBI Bank, Air India to be completed in the next fiscal year. Reason (R): Strategic sales gives revenue to the government.. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Fines and penalties are a source of non-tax revenue for the government. Reason (R): A fine of ₹ 500 was imposed on not wearing a mask. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Repayment of borrowings is a capital expenditure. Reason (R): Capital Expenditure reduces the liability of the government. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Higher Taxes leads to an increase in the revenue of the government. Reason (R): Corporate Tax is levied on the earnings of the people. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Receipts of Post office Savings Accounts, National Savings Certificates, etc. are capital receipts. Reason (R): Small savings of people (Post office Savings Accounts, National Savings Certificates, etc) are capital receipts for the government because these receipts create a liability of repayment on government. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Fiscal deficits are always inflationary. Reason (R): Fiscal deficit equals borrowings of the government. Such borrowings are generally financed by issuing new currency which may lead to inflation. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Revenue deficit is bad for the growth of an economy. Reason (R): Revenue deficit means revenue receipts are used for unproductive activities. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A):The revenue budget of the Government represents non-debt creating incomes. Reason (R): The government budget is majorly comprised of receipts and expenditures on the various accounts. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A):PSU disinvestment is an example of non-debt creating capital receipts. Reason (R): PSU disinvestment reduces the financial assets of the government. However, it does not give rise to thedebt. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): The construction of flyovers is a revenue expenditure of the government. Reason (R)Capital expenditure leads to the creation of physical assets of the government. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Primary deficit = Fiscal deficit – Net interest liabilities Reason (R): Net interest liabilities consist of interest payments minus interest receipts by the government on net domestic lending. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Personal income tax and corporation tax are indirect taxes. Reason (R): The liability to pay and burden of an indirect tax lie on different persons/entities. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Government imposes heavy taxes on alcohol and gives subsidies of LPG gas. Reason (R): The government undertakes such a measure to ensure economic stability in the government. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): The best way to finance budgetary deficit is by borrowings from the general public. Reason (R):Borrowings from the general public do not affect the money supply in the economy. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Through changes in its expenditure and taxes, the government brings economic stability. Reason (R):In case of deflation (or unemployment), the government can give tax concession or increase expenditure to leave more disposable income in the hands of people. In case of inflation, the government can reduce its own expenditure or increase tax. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Provision of public goods is the same as public production. Reason (R):Provision of public goods means that public goods like law and order, defense, parks, roads, etc. are financed through the budget. These goods may be produced directly by the government or it can encourage the private sector by giving them tax concessions and subsidies. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Highway and road work announced in Kerala, Tamil Nadu, West Bengal, and Assam in budget 2021. Reason (R):Such an announcement will increase the revenue expenditure of the government. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Increase in revenue deficit will always lead to a higher fiscal deficit. Reason (R):Fiscal deficit = Revenue deficit + Capital expenditure – Non debt creating capital receipts. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Tax is the main source of government revenue that is used to provide subsidies to the poor at concessional prices, therefore those who pay tax should not use government services. Reason (R): Public goods are non-exclusive and non-rival in consumption. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Taxation is an effective tool to reduce the inequalities of income. Reason (R): Generally, the government collects higher taxes from the rich people and spends it on the welfare of the poor. Thereby, reducing the inequalities of income. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Repayment of loans by the government is the capital expenditure of the government. Reason (R): Capital expenditure of government leads to the creation of assets or reduction in liabilities. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Defence services expenditure is a revenue expenditure. Reason (R): Defence services expenditure is a revenue expenditure because it neither creates any asset nor reduces any liability of the government. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): The government budget is an annual estimated statement of revenue and expenditure during the coming fiscal year. Reason (R): Through the government budget, it tries to reduce the regional variations. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Revenue deficit increases when government fails to recover loans forwarded to different nations. Reason (R): Recovery of loans is a non-debt-creating capital receipt. It does not affect the revenue receipts. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Direct taxes have limited reach Reason (R): Direct taxes do not reach all the sections of the economy. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Revenue deficit is a part of fiscal deficit. Reason (R): Fiscal deficit = Revenue deficit – capital expenditure + Non debt creating capital receipts.. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Fiscal deficit indicates the total borrowing requirements of the government from all sources. Reason (R): Fiscal deficit is financed through borrowings. From the financing side: Fiscal deficit = Net borrowing at home + Borrowing from RBI + Borrowing from abroad. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Government should reduce subsidies to curb the revenue deficit. Reason (R): Providing subsidies on an LPG cylinder is a part of revenue expenditure. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Fiscal deficit indicates the total borrowing requirements of the government from all sources. Reason (R): Fiscal deficit is financed through borrowings. From the financing side: Fiscal deficit = Net borrowing at home + Borrowing from RBI + Borrowing from abroad. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Government should reduce subsidies to curb the revenue deficit. Reason (R): Providing subsidies on an LPG cylinder is a part of revenue expenditure. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Government budget is an annual statement showing actual receipts and actual payments of the government for the last fiscal year. Reason (R): The government budget is an important fiscal policy instrument of the government. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): The government budget is the statement showing actual receipts and expenditures of the government in the coming financial year. Reason (R): The government budget is presented by the Finance Minister of India. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Expenditure on Ujjwala Yojana launched by the Government is an example of revenue expenditure. Reason (R): It is the expenditure that neither created assets nor reduced liabilities of the Government. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): The impact and incidence of indirect tax lie on different persons Reason (R): Indirect Taxes can be avoided by not entering into those transactions, which call for such taxes. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): The government budget is an important monetary policy instrument. Reason (R): Government budget is a financial statement of budgetary receipts and budgetary expenditure of the government during a fiscal year. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): The government has allocated extra money in Budget 2021 to provide safe drinking water facilities and sanitation to the people. Reason (R): The government does it because sanitation and providing drinking water are public goods. Alternatives: a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Public goods are non-rivalrous Reason (R):The benefits of such goods can be enjoyed by all and are not restricted to any one person a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Profits of public sector undertakings is revenue receipt. Reason (R): Revenue Receipts are regular and recurring in nature. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
Assertion (A): Dividend received on investment is the revenue receipt of government. Reason (R): Revenue receipts neither reduce/increase liabilities nor create/reduce assets. a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A) c) Assertion (A) is true but Reason (R) is False d) Assertion (A) is False but Reason (R) is true.
In India, the Constitution requires the Central Government to prepare 'Annual Financial Statement', i.e. government budget for the country as a whole. In India, ________ department of government prepares annual budget statement.
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
