1..Which of the following statements regarding the buoyancy of the tax system is correct?
3..Consider the following statements regarding deficit financing in India :
- Money for deficit financing can be generated by printing more currency.
- Borrowing from domestic banks and market preferred over borrowing from external market because repayment of borrowing from external market depend on exchange rate which is risky.
- Aids from IMF and other institutions are not generally used for deficit financing.
Which of the options given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
4..Consider the following statements: The Indian rupee is fully convertible
- In respect of Current Account of Balance of Payment
- In respect of Capital Account of Balance of Payment
- Into gold
Which of the statements is/are correct?
(b) 3 only
(c) 1 and 2 only
5..Consider the following statements regarding Budgeting in India:
- Revenue expenditure reduces the assets of the government while capital expenditure leads to reduction in capital stock.
- Revenue receipts do not impact liability status of the government where as capital receipts add to the liabilities.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
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