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प्रश्न
Define the following term:
Fiscal deficit
Define fiscal policy.
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उत्तर
Fiscal deficit refers to the total amount of borrowing required by the government to finance its budget deficit, i.e., the excess of government expenditure over government revenue.
संबंधित प्रश्न
Taxes in which the rate of tax remains the same, though the tax bases changes are called ______.
A policy under which the government uses its expenditure and revenue to produce desirable effect and avoid undesirable effects on the national income, production and employment. This defines ______.
Match the following:
| Column I | Column II | ||
| A. | Direct tax | (i) | Tax rate increases with tax base |
| B. | Indirect tax | (ii) | Tax rate remains constant |
| C. | Proportional tax | (iii) | Imposed on goods and services |
| D. | Progressive tax | (iv) | Impact and incidence lie on the same person |
Citing reason state the advantage of a progressive tax over proportional tax.
An indirect tax is not always equitable. Give two reasons to support your answer.
Explain the term proportional taxation.
Discuss four fiscal policy objectives with reference to India.
Explain the significance of taxes.
Explain the state's role in achieving the objective of social justice in less developed countries.
Explain how indirect taxes can be made progressive.
