10.

अः

12.

13.
14.
15.
16.
1%.

2 C 60215

The most important source of income for the Union Government is

(a) Customs Duty. (b) GST.
(c) Central Excise Duty. (d) VAT.
Select the odd one out :
(a) Customs Duties. (b) Value added Tax.
(c) Excise Duties. (d) Income Tax.

The difference between total expenditure and total receipts is

(a) Fiscal Deficit. (b) Primary Deficit.

(c) Budget Deficit. (d) Revenue Deficit.
In India, deficit financing is used for raising resources for

(a) Economic Development. (b) Redemption of Public Debt.

(c) Adjusting BOP. (d) Reducing Foreign debt.
GST did away with

(a) VAT. (b) Sales Tax, Excise Duty.

(c) VAT and All Service Tax. (d) Service Tax, Excise Duty, VAT.
Who propounded the Canon of Certainty, Convenience and Economy ?

(a) Adam Smith. (b) Marshall.

(c) Keynes. (d) Musgrave.

Which authority recommends the principles governing the distribution of grants-in-aid to states
out of the Consolidated Fund of India ?

(a) Planning Commission. (b) Finance Commission.
(०) NITI Aayog. (d) Central Government.
(12 x % = 6 marks)
Section B (Very Short Answer Type Questions)

Answer any ten questions.
Each question carries 2 marks.

Public Revenue.
Budget.

Special Assessment.
Tax.

Progressive Tax.