MCQs BASED ON UNION BUDGET 2017-18

BUDGET TRENDS & INSIGHTS – UNION BUDGET 2017- 2018

Q1. Consider the following statements regarding Revenue receipts of Govt of India?

1. Revenue Receipts of government exceed the Capital Receipt.
2. Tax Revenue of the government exceeds Non-Tax Revenue.

Which of following statements are correct?

a. only 1

b. only 2

c. Both 1 & 2

d. None of the above

Q2. Consider the following statements regarding revenue expenditure of Govt of India?

1. Expenditure on other than schemes exceeds scheme expenditure.
2. Revenue Expenditure of the government exceeds Capital Expenditure.

Which of following statements are correct?

a. only 1

b. only 2

c. Both 1 & 2

d. None of the above

Q3. Consider the following statements regarding revenue deficit?

1. Revenue Deficit as a % of GDP is rising.
2. Effective Revenue Deficit as a % of GDP is declining.

Which of following statements are correct?

a. only 1

b. only 2

c. Both 1 & 2

d. None of the above

Q4. Consider the following statements regarding Fiscal deficit?

1. Fiscal Deficit as % of GDP is also declining.
2. Target for 2017-18 is 3.2%.

Which of following statements are correct?

a. only 1

b. only 2

c. Both 1 & 2

d. None of the above

Q5. Consider the following statements regarding Primary Deficit?

1. Primary Deficit as % of GDP is declining.
2. Target for 2017-18 is 0.1%

Which of following statements are correct?

a. only 1

b. only 2

c. Both 1 & 2

d. None of the above

Q6. Consider the following statements regarding Capital Receipts of Govt of India?

1. “Borrowings and other Liabilities” form significant chunk of Capital Receipts.
2. Capital Receipts are greater than Revenue receipts.

Which of following statements are correct?

a. only 1

b. only 2

c. Both 1 & 2

d. None of the above

Q7. Consider the following regarding taxes of govt of India?

1. In term of taxes, Direct taxes are more than indirect taxes.
2. In terms of Direct taxes, Corporation tax is biggest contributor.
3. In terms of Indirect taxes, Union Excise Duties are biggest contributor followed by Service Tax & Customs.

Which of following statements are correct?

a. only 1

b. only 2 & 3

c. All

d. None of the above

Q8. Consider the following statements regarding Money outflow of govt. as per Union Budget 2017- 2018?

1. Biggest component of outflow is “States’ share of taxes & duties”.
2. Next, biggest component is Interest Payments.

Which of following statements are correct?

a. only 1

b. only 2

c. Both 1 & 2

d. None of the above

Q9. Arrange the following subsidies in decreasing order of financial burden as per Union Budget 2017-18

1. Food.
2. Petroleum.
3. Fertilizer.

Which of following statements are correct?

a. 1,3,2

b. 2,3,1

c. 3,1,2

d. 1,2,3

Q10. Consider the following regarding sources of Money as per Union Budget 2017-2018 ?

1. Top sources of money are “Borrowings & other Liabilities” and “Corporation Tax”.
2. Non tax revenue is more than tax revenue.

Which of following statements are correct?

a. only 1

b. only 2

c. Both 1 & 2

d. None of the above

To download solutions, Click Here

To check out more MCQs. Click Here.