Which of the following is/are the components of the fiscal deficit?

I. Budgetary deficit

II. Market Borrowing

III. Expenditure made from Pradhan Mantri Rahat Kosh

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As we all know, the Ministry of Finance every year prepares the Union budget and presents it to the Parliament. Which of the following is/are the elements of the Union Budget?

I. Estimates of revenue and capital receipts.

II. Ways and means to raise the revenue.

III. Estimates of expenditure

Consider the true statements regarding provision under the black money (undisclosed foreign income and assets) and imposition of Tax Bill, $2015$

I. Undisclosed foreign direct investment inflows will attract a penalty as per the act.

II. The enhanced punishment in case of willful evasion would be rigorous imprisonment for $3$ to $10$ years.

III. In the case of second offense concerning tax evasion, the maximum penalty can be of $₹1$cr.

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Consider the following statements in the context of governance.

I. Encouraging foreign direct investment inflows.

II. Privatisation of higher educational institutions.

III. Down-Sizing of bureaucracy.

Which of the above can be used as measures to control the fiscal deficit in India?

Many a times we read about rural indebtedness in variuos newspapers/magzines. What are the main causes of the rural indebtedness?

I. Poverty.

II. Inability to repay the loans.

III. Zamindari system which prevents farmers to own the land.

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Which of the following correctly describes what sub-prime lending is?

I. Lending to the people with less than ideal credit status.

II. Lending to the people who are high value customers of the banks.

III. Lending to those who are not a regular customer of a bank.

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Which of the following is/are the central tax(es) replaced by GST?

I. Central Excise Duty.

II. Cesses and surcharges on supply of goods and services.

III. Special Additional Duty of Customs (SAD).

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Assessment of Government deficits can be done on following basis.

I. Fiscal deficit

II. Revenue deficit

III. Non - plan deficit

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According to GST Bill, State taxes subsumed in GST is/are:

I. Central Sale tax

II. Luxury tax

III. Taxes on advertisements