Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Answer the following as directed: 1x8=8
a) What is the prime source of tax revenue of Assam?
b) ‘Land Revenue’ is a source of revenue of the Union government. (Write Yes or No)
c) Write the full form of VAT.
d) Mention one canon of taxation.
e) Mention one function of the Finance Commission of India.
f) Mention one principle of public debt management.
g) Mention a tax levied by Municipal Corporation.
h) Mention one demerit of Indirect tax.
2. Write short notes on (any four): 4x4=16
a) Role of public finance.
b) Characteristics of ‘zero-base budgeting’.
c) Classification of public revenue.
d) Taxable capacity.
e) Evils of deficit financing.
3. (a) What is ‘public finance’? Distinguish between public finance and private finance. 3+9=12
(b) Explain the principle of ‘maximum social advantage’ with the help of a diagram. 12
4. (a) What is ‘budget’? Give an account of the budgetary control system in India. 3+8=11
(b) What do you mean by ‘financial administration’? What are its main ingredients? Discuss clearly the principles of financial administration. 3+4+4=11
5. (a) What do you mean by ‘public revenue’? Explain the principles of public revenue. Also write a short note on the effects of public revenue. 3+5+3=11
(b) Discuss Adam Smith’s canons of taxation. 11
6. (a) what is ‘public expenditure’? What are its principal objectives? Discuss its scope. 2+5+4=11
(b) Discuss the effects of public expenditure on production and distribution. 6+5=11
7. (a) What is meant by ‘public debt’? Discuss about the growth of internal and external public debt in India. 3+4+4=11
(b) What is ‘deficit financing’? Discuss the role of deficit financing in Indian economy. 3+8=11