What is the reason for the growth of public debt in India?
Urbanization
Adult literacy
Inflation
Expenses on internal security
An economic system in which productive factors are owned by government and less importance is paid to private sector.
Capitalist system
Mixed economic system
Socialist system
Communist economic system
In which economic system characterised by private free enterprise and minimum government intervention?
Capitalist economic system
Socialist economic system
An example for productive debt
To cover deficit
For war expenses
For the construction of dams
For paying taxes
In which country value added tax was first introduced?
England
Russia
India
France
_____________ budget is the one in which public revenue falls short of public expenditure.
Deficit budget
Surplus budget
Capital budget
Balanced budget
A _________ is one imposed upon an individual person or on property, as distinct from a tax imposed upon a transaction.
Direct tax
Indirect tax
Sales tax
Service tax
Which budget is presented when government cannot present the full budget for one year?
Revenue budget
Emergency budget
Interim budget
In which feature of Direct tax?
Expenses of tax collection is usually high
Chances for malpractices are high
Evading a tax means giving up the want
Tax burden can be shifted
Which economic system prevailed in India?
Capitalist econimy
Mixed economy
Socialist economy
Communist economy
