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Chapters
Chapter 1: Microeconomics and Macroeconomics: Introduction
2: Demand and Law of Demand
3: Theory of Consumer Behaviour: Marginal Utility and Indifference Curve Analysis
4: Elasticity of Demand
5: Supply - Law of Supply and Price Elasticity of Supply
6: Market Mechanism: Equilibrium Price and Quantity in a Competitive Market
7: Laws of Returns - Returns to a Factor and Returns to Scale
8: Cost and Revenue Analysis
9: Forms of Market
10: Producer's Equilibrium
11: Determination of Equilibrium Price and Output Under Perfect Competition
SECTION 2: THEORY OF INCOME AND EMPLOYMENT
12: Theory of Income and Employment
SECTION 3: MONEY AND BANKING
13: Money: Meaning and Functions
14: Banks: Commercial Bank and Central Bank
SECTION 4: BALANCE OF PAYMENTS AND EXCHANGE RATE
15: Balance of Payments and Exchange Rate
SECTION 5: PUBLIC FINANCE
16: Fiscal Policy
▶ 17: Government Budget
SECTION 6: NATIONAL INCOME
18: National Income and Circular Flow of Income
19: National Income Aggregates
20: Methods of Measuring National Income
SECTION 7: PROJECT WORK
21: Project Work
22: Model Short Answer Questions
![Frank solutions for Economics [English] Class 12 ISC chapter 17 - Government Budget - Shaalaa.com](/images/economics-english-class-12-isc_6:557367fb4d974c67badae9e1dbdc022d.jpg "Frank solutions for Economics [English] Class 12 ISC chapter 17 - Government Budget")
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Solutions for Chapter 17: Government Budget
Below listed, you can find solutions for Chapter 17 of CISCE Frank for Economics [English] Class 12 ISC.
Frank solutions for Economics [English] Class 12 ISC 17 Government Budget TEST YOURSELF QUESTIONS [Pages 343 - 346]
Select the correct option for each of the following questions:
Which of these is not a revenue receipt from non-tax revenue?
Interest receipts
Dividends and profit of public sector enterprises
Central excise duty
Revenue from services provided by the government
Which of these revenues are examples of revenue from administrative services?
Fines and penalties
Receipt from license fees
Receipt from commercial services of Doordarshan
Income from tourism
Which one of these is not capital receipt?
Disinvestment proceeds
Market loans
Service tax
Receipt from provident fund
Revenue expenditure does not include ______.
salaries and pensions
subsidies
investment expenditure by the public sector undertakings
interest on government loans
Which of these expenditure of the government is not capital expenditure?
Expenditure incurred in undertaking investment.
Expenditure incurred on land and buildings.
Purchase of shares
Interest payment on market loan.
Total expenditure on national defence in India is categorised as ______.
revenue expenditure
capital expenditure
partly revenue expenditure and partly capital expenditure
none of these
The difference between the revenue receipts and revenue expenditure of the government is known as ______.
revenue deficit
budget deficit
fiscal deficit
primary deficit
Fiscal deficit equals ______.
total budgetary expenditure − total receipts
total budgetary expenditure − revenue receipts
total budgetary expenditure − capital receipts
total budgetary expenditure − revenue receipts − capital receipts (excluding borrowings)
Primary deficit will be equal to fiscal deficit when ______.
net interest payment is zero
revenue deficit is zero
fiscal deficit is zero
none of these
Very Short Answer Questions
Define or explain the following concept.
Government budget.
State two objectives of government budget.
Name the two parts of government budget.
What is the financial/fiscal year?
What is meant by Union budget?
Distinguish between the Union budget and State budget.
What is Supplemetary Budget?
What is a performance budget?
What is Revenue budget?
Define capital budget.
Name the two types of budget receipts.
What are revenue receipts?
Give two sources of revenue receipts.
Define Capital receipts.
Give two examples of Capital receipts.
Give two examples of non-tax revenue.
Name any two types of capital receipts.
What is plan expenditure?
What is non-plan expenditure?
Explain the term revenue expenditure of the government.
Explain the term capital expenditure of the government.
Differentiate between plan and non-plan expenditure.
Distinguish between the following concepts:
Developmental expenditure and non-developmental expenditure.
Define surplus budget.
What is deficit budget?
What is meant by balanced budget?
What is deficit budget?
What is meant by balanced budget?
Explain the meaning of fiscal deficit.
What is meant by revenue deficit?
Explain the implications of a revenue deficit.
What is a primary deficit?
State different operations involved in the budgetary procedure.
How does the Parliament exercise control over the Government?
What are the committees of the Parliament exercising control over the government budget?
What is a vote-on-account budget?
A government budget shows a primary deficit of ₹ 4,400 crore. The revenue expenditure on interest payment is ₹ 400 crore. How much is the fiscal deficit?
Short Answer Questions
Explain the need of government budget.
Explain four important features of a government budget.
Explain the major components of government budget.
Distinguish between revenue budget and capital budget.
What is the basis of classifying government receipts into revenue receipts and capital receipts? Give one example of each.
What is the basis of classifying government expenditure into revenue expenditure and capital expenditure?
What is the basis of classifying government expenditure into plan expenditure and non-plan expenditure.
Write any two differences between capital and revenue Receipts.
Distinguish between revenue expenditure and capital expenditure.
What is meant by budget of the government?
Distinguish between revenue expenditure and capital expenditure.
What is a performance budget?
Differentiate between revenue and capital expenditure. (Three points)
What is the basis of classifying government expenditure into development-expenditure and non-development expenditure. Give two examples of each.
How is fiscal deficit different from primary deficit?
Explain one implication of fiscal deficit.
Long Answer Questions
What is government budget?
Explain the need of government budget.
Explain the major components of government budget.
Distinguish between Surplus budget and Deficit budget.
How do surplus budget influence the level of economic activity in an economy.
How do a deficit budget influence the level of economic activity in an economy?
What are various measures of budgetary deficit used in India? Explain them briefly along with their implications.
Distinguish between revenue deficit, fiscal deficit and primary deficit.
Explain the implications of a revenue deficit.
Explain one implication of fiscal deficit.
What are various measures of budgetary deficit used in India? Explain them briefly along with their implications.
Explain briefly various steps involved in the budgetary procedure.
Explain briefly various steps involved in the budgetary procedure.
How does the parliament control budget finances?
Read the passage below and answer the questions that follow.
| Over the last two years, fiscal policy has remained a significant tool for addressing the economic fallout of pandemic. The revenue receipts of the central government have shown a large increase during 2011-2012. Tax collections of both direct and indirect taxes have contributed to the increase in the revenue pool. Personal taxes and corporate taxes have registered a large increase. The monthly GST collections have crossed the 1 lakh crore mark. The revenue from excise duties has also increased non-tax revenue has also contributed to the increase in revenue of the government. The expenditure policy of the central government during 2021-22 has a strong emphasis on capital expenditure focus on infrastructure like roads, railways and housing. |
- What do you understand by fiscal policy? [1]
- Differentiate between direct taxes and indirect taxes. [2]
- What is GST? [1]
- What do you mean by capital expenditure? [1]
- Give two examples of non-tax revenue. [2]
- Define fiscal deficit. [1]
Thinking Beyond...
A perpetual topic of political debate is the magnitude of budget deficit. How does the government finance its budgetary deficit? What are their implications?
Explain the balanced budget multiplier.
Solutions for 17: Government Budget
Frank solutions for Economics [English] Class 12 ISC chapter 17 - Government Budget
Shaalaa.com has the CISCE Mathematics Economics [English] Class 12 ISC CISCE solutions in a manner that help students grasp basic concepts better and faster. The detailed, step-by-step solutions will help you understand the concepts better and clarify any confusion. Frank solutions for Mathematics Economics [English] Class 12 ISC CISCE 17 (Government Budget) include all questions with answers and detailed explanations. This will clear students' doubts about questions and improve their application skills while preparing for board exams.
Further, we at Shaalaa.com provide such solutions so students can prepare for written exams. Frank textbook solutions can be a core help for self-study and provide excellent self-help guidance for students.
Concepts covered in Economics [English] Class 12 ISC chapter 17 Government Budget are Government Budget, Need and Importance of Government Budget, Classification of Budget Receipts, Balanced Budget Vs Unbalanced Budget, Budgetary Procedure, Budget, Modern Classification of Budget, Zero-Base Budgeting (ZBB), Zero-Base Budgeting in India, Concepts Related to Budget Deficits, Public Revenue > Non-tax Revenue, Capital Receipts, Structure of Public Finance > Public Expenditure, Objectives of Budget, Significance of Budget, Constituents of budget /Structure of the budget, Tax Revenue, Revenue Expenditure and Capital Expenditure, Developmental and Non-developmental Expenditure, Types of Budget, Types of Government Budget in India, Components (Structure) of the Government Budget, Types of budget deficit.
Using Frank Economics [English] Class 12 ISC solutions Government Budget exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in Frank Solutions are essential questions that can be asked in the final exam. Maximum CISCE Economics [English] Class 12 ISC students prefer Frank Textbook Solutions to score more in exams.
Get the free view of Chapter 17, Government Budget Economics [English] Class 12 ISC additional questions for Mathematics Economics [English] Class 12 ISC CISCE, and you can use Shaalaa.com to keep it handy for your exam preparation.
