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2 D 30662

Section B

Short Essay /paragraph Questions. Maximum marks in this section is 35.

Students can attempt all questions. Each question carries a maximum of 5 marks.
What are the canons of taxation given by Adam Smith ?
Define deficit financing. Explain the need for deficit financing.
Prepare a note on NITI Aayog.
Explain the meaning and structure of GST.
Differentiate between zero based budgeting and performance budgeting.
Discuss the nature and scope of public finance.
Point out major recommendations of 15'* Finance Commission.
Define contra cyclical fiscal policy. Examine the role of fiscal policy for stabilization.

Section C

Long Essay Questions. Answer any two questions.

Each question carries a maximum of 10 marks.
What are the sources of public revenue in India ? Explain the ability to pay principle of
taxation.
What are the reasons for increasing public debt in India ? Explain the principles of public debt
management.

Differentiate between public finance and private finance. Explain the principle of maximum social
advantage.
Explain Wagner's view of public expenditure. Discuss the superiority of Peacock -Wiseman thesis
over Wagner's hypotheses

(2 x 10 = 20 marks)

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