The modern state is

(a)

Laissez-faire state

(b)

Aristocratic state

(c)

Welfare state

(d)

Police state

GST is equivalence of

(a)

Sales tax

(b)

Corporation tax

(c)

Income tax

(d)

Local tax

The direct tax has the following merits except

(a)

equity

(b)

convenient

(c)

certainty

(d)

civic consciousness

"Revenue Receipts" of the Government do not include

(a)

Interest

(b)

Profits and dividents

(c)

Recoveries and loans

(d)

Rent from property

The primary purpose of deficit financing is

(a)

Economic development

(b)

Economic stability

(c)

Economic equality

(d)

Employment generation

The word budget has been derived from the French word "bougette" which means

(a)

A small bag

(b)

An empty box

(c)

A box with papers

(d)

None of the above

Finance Commission determines

(a)

The finances of Government of India

(b)

The resources transfer to the states

(c)

The resources transfer to the various departments

(d)

None of the above

Bougett refers to a _________

(a)

bag

(b)

a small purse

(c)

a small leather bag

(d)

a small box

Sale within the states are _________

(a)

IGST

(b)

CGST

(c)

SGST

(d)

Both (b) and (c)

The Indian government accounts are maintained in _________

(a)

Three

(b)

Four

(c)

Five

(d)

Eight

Define public finance.

Differentiate tax and fee.

Give two examples for direct tax.

What are the components of GST?

What do you mean by public debt?

List the major types of budget deficits.

Describe Canons of Taxation.

What are the functions of a modern state?

State any three characteristics of taxation.

What is primary deficit?

What is internal public debt?

What are the demerits of Direct Taxes.

Explain the scope of public finance.

Explain the principles of Federal Finance.