CBSE  /  Class 12  /  Economics  /  Government Budget and the Economy

  • 1. 
    Which of the following statement is true?

  • Fiscal deficit is the difference between total expenditure and total receipts
  • Primary deficit is the difference between total receipt and interest payments
  • Fiscal deficit is the sum of primary deficit and interest payment
  • All of these

  • 2. 
    Budget:

  • is a description of income-expenditure of government
  • is a document of the economic policy of the government
  • is a description of non-programs of the government
  • All of these

  • 3. 
    In an unbalanced budget:

  • Income is greater than expenditure
  • Expenditure is higher relative to income
  • Deficit is covered by loans or printing of notes
  • Only (b) and (c)

  • 4. 
    Which is included in indirect tax?

  • Income tax
  • Wealth tax
  • Excise Duty
  • Gift tax

  • 5. 
    Which one of the following is a pair of direct tax?

  • Excise duty and Wealth Tax
  • Service Tax and Income Tax
  • Excise Duty and Service Tax
  • Wealth Tax and Income Tax

  • 6. 
    Which of the following is not a revenue receipt?

  • Recovery of Loans
  • Foreign Grants
  • Profits of Public Enterprise
  • Wealth Tax

  • 7. 
    Which of the following is a correct measure of the primary deficit?

  • Fiscal deficit minus revenue deficit
  • Revenue deficit minus interest payments
  • Fiscal deficit minus interest payments
  • Capital expenditure minus revenue expenditure

  • 8. 
    The duration of the Government budget is:

  • 5 years
  • 2 years
  • 1 year
  • 10 years

  • 9. 
    Budget is presented in the Parliament by:

  • Prime Minister
  • Home Minister
  • Finance Minister
  • Defence Minister

  • 10. 
    Budget speech in Lok Sabha is given by:

  • President
  • Prime Minister
  • Finance Minister
  • Home Minister
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