Match List I with List II and select the correct answer using the codes given below the lists
List I List II
A. Income Tax 1. Levied and collected by the Central Government
B. Corporation 2. Levied and Tax collected by the Central Government and shared by the State Government
C. Professional 3. Levied by the Tax Central Government but collected and appropriated by the State Government
D. Stamp Duties 4. Levied and collected by the State Governments
Important Questions on Indian Economy
Which one of the following statements appropriately describes the 'Fiscal stimulus'?
1. Sales tax
2. Value-added tax
3. Property tax
Which of the taxes given above are Ad valorem tax/taxes?
Which of the following is/ are among the noticeable features of the recommendations of the thirteenth Finance Commission?
1. A design for the goods and services tax and a compensation package linked to adherence to the proposed design.
2. A design for the creation of lakhs of jobs in the next ten years in consonance with India's demographic dividend.
3. Devolution of a specified share of central taxes to local bodies as grants.
Select the correct answer using the codes given below:
1. Deficit financing does not lead to inflation if adopted in small doses.
2. Deficit financing is an often used tool for financing budgetary deficits.
Select the correct answer using the codes given below.
In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?
1. Value-added tax was introduced for the first time in France.
2. Value-added tax is levied on the added value that results from each exchange.
Which of the statements given above is/are correct?
Which one of the following was not stipulated in the Fiscal Responsibility and Budget Management Act, ?
