6. If interest payment is added to primay deficit, it is equivalent to

1. 1. Budget deficit

   
   
   

   2. Fiscal deficit

   
   
   

   3. Revenue deficit

   
   
   

   4. Deficit financing

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: B

   N/A

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7. Ficsal deficit is

1. 1. total income less Government borrowing

   
   
   

   2. total payments less total receipts

   
   
   

   3. total payments less capital receipts

   
   
   

   4. total expenditure less total receipts excluding borrowing

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: D

   N/A

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8. Finance Commission is constituted

1. 1. every year

   
   
   

   2. once in two years

   
   
   

   3. once in four years

   
   
   

   4. once in five years

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: D

   N/A

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9. Which amidst the following taxes collected by the Union is not mandated to be assigned to the States?

1. 1. Terminal taxes on food or passengers carried by railway, sea or air

   
   
   

   2. Taxes on railway fares and freights

   
   
   

   3. Taxes on consignment of goods

   
   
   

   4. Service tax

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: B

   N/A

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10. Which among the following is the exclusive jurisdiction of the State Government?

1. 1. Corporation Tax

   
   
   

   2. Custom Duty

   
   
   

   3. Sales Tax

   
   
   

   4. Income Tax

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: C

   N/A

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