Full Marks: 80
Full Marks: 32
Time: 3 hours
1. Answer the following questions as directed: 1x8=8
(a) Which of the following is not a source of revenue of the union government?
(i) Income tax
(ii) Corporation tax
(iii) Land revenue
(iv) Custom duty
(b) Mention one canon of taxation.
(c) Who is the Chairman of the Thirteenth Finance Commission of India?
(d) Expenditure of the Union government is classified as:
(i) Revenue expenditure
(ii) Capital expenditure
(iii) Non-plan expenditure
(iv) All of the above
(e) Which of the following is not non-tax revenue of the Government?
(i) Receipts from administrative services
(ii) Revenue from Public Service Commission
(iii) Grants-in-aid and Contributions
(iv) Short-term loan
(f) Public receipts are divided into
(i) Public receipts and public revenues
(ii) Tax and non-tax receipts
(iii) Revenue and non-revenue receipts
(iv) Revenue and capital receipts
(g) What do you mean by deficit financing?
(h) Write the full form of “VAT”.
2. Write notes on any four of the following: 4x4=16
(a) Scope of Public finance
(b) Objectives of budgetary control
(c) Evils of deficit financing
(d) Tax and non-tax revenue
(e) Gram Panchayat
3. (a) Explain the concept of “Maximum Social Advantage” with the help of a diagram. 11
(b) Explain the Keynes theory of public finance.
4. (a) What do you mean by “Financial administration”? Briefly explain the various agencies involved in financial administration. 4+7=11
(b) What is “Zero-base budgeting”? Briefly discuss the process involved in “zero-base budgeting.
5. (a) Discuss Adam Smith’s Canons of taxation. 12
(b) Discuss the factors affecting the “impact and incidence of taxes”.
6. (a) Discuss the effects of public expenditure on production and distribution. 11
(b) Discuss the reasons for growth of public expenditure in India in recent times.
7. (a) Discuss the growth of public debt in India. 11
(b) Discuss the recommendations of the thirteen finance commission.