Top 150+ Solved Fiscal System of India MCQ Questions Answer
Q. Which of the following is not part of state tax?
a. Land revenue
b. Entertainment tax
c. Sales and purchase of newspapers
d. Stamp duty other than financial documents
Q. Which of the following is not a direct tax?
a. Tax on income
b. Tax on wealth
c. Tax on expenditure
d. Tax on entertainment
Q. Share of Direct tax in post economic reform is:
a. increasing
b. decreasing
c. can't say anything
d. fluctuating
Q. Many times we see in financial journals/bulletins a term M3. What is M3? [RBI GradeB Officer 2011]
a. Currency in circulation on a particular day
b. Total value of foreign exchange on a particular day
c. Total value of export credit on a given date
d. None of these
Q. Consider the following statements:In India, stamp duties on financial transactions are: 1. levied and collected by the State Government 2. appropriated by the Union Government Which of the statements is/are correct?
a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
Q. Tax collection of Central govt. was lowest as compare to G.D.P., in which of thefollowing year?
a. 1999-2000
b. 2000-2001
c. 2001-2002
d. 2002-2003
Q. In India GDP is higher than GNP because country's:
a. import > export
b. capital inflow > capital outflow
c. net factor income is negative
d. Govt. expenditure is more than it's income
Q. In India, the service tax was first introduced in the year: [CDS 2001]
a. 1998
b. 1996
c. 1994
d. 1992
Q. In gross domestic saving by sector of origin, the four sectors in order of importance are:
a. Household Sector, Public Enterprises, Government Sector, Corporate Sector
b. Household Sector, Corporate Sector, Government Sector, Public Enterprises
c. Government Sector, Household Sector, Public Enterprises, Corporate Sector
d. Household Sector, Government Sector, Public Enterprises, Corporate Sector
Q. The main reason for low growth rate in India, inspite of high rate of savings and capital formation is: [IAS 1995]
a. high birth rate
b. low level of foreign aid
c. low capital/output ratio
d. high capital/output ratio
Q. Which among the following sectors received the largest Central plan outlay in the last few Central Government annual budgets? [CDS 2002]
a. Energy
b. Agriculture and allied activities
c. Social Services
d. Communication
Q. After the initiation of economic reforms in 1991-92 the percentage share of: [CDS 1999]
a. direct taxes increased and that of indirect taxes decreased in gross tax revenue
b. Both direct and indirect taxes increased in gross tax revenue
c. both direct and indirect taxes decreased in gross tax revenue
d. direct taxes decreased and that of indirect taxes increased in gross tax revenue
Q. Which of the following statements about indirect taxes in India is/are true? 1. Yield from indirect taxes is much more than that from direct taxes 2. Indirect taxes have grown faster than direct taxes since independence 3. Indirect taxes are ultimately paid for by persons who do not actually pay the taxes to the Government 4. Increase in indirect taxes is a welcome feature in a developing country
a. 1, 2 and 4
b. 1 and 2
c. 2 only
d. 1, 2 and 3