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Solutions for Chapter 8: Public Finance in India
Below listed, you can find solutions for Chapter 8 of Maharashtra State Board Balbharati for इकॉनॉमिक्स [इंग्रजी] इयत्ता १२ महाराष्ट्र राज्य मंडळ.
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता १२ महाराष्ट्र राज्य मंडळ 8 Public Finance in India EXERCISE [Pages 79 - 80]
Optional functions of government:
- Protection from external attack
- Provision of education and health services
- Provision of social security measures
- Collection of tax
b and c
a, b and c
b, c and d
All of the above
Obligatory functions of the Government include:
- Provision of employment
- Maintaining internal law and order
- Welfare measures
- Exporting goods and services
c and d
a and b
only b
a, c and d
a, b and c
"Definition - Public finance is one of those subjects which are on the borderline between economics and politics." given by:
- Adam Smith
- Alfred Marshall
- Prof. Hugh Dalton
- Prof. Findlay Shirras
only a
only b
only c
only d
Non-tax sources of revenue:
- Direct and Indirect Tax
- Direct Tax and Fees
- Fees
- Special Levy
b and c
a and c
a, b, c and d
c and d
Trends shown by the Public expenditure of any Government show the following trend.
- Constant
- Increasing
- Decreasing
- Fluctuating
only a
only b
only c
only d
Identify the right group of pairs from the given options.
| Group A | Group B |
| i) Direct tax | a) Non-tax revenue |
| ii) Indirect tax | b) Inflation |
| iii) Fees and Fines | c) GST |
| iv) Surplus budget | d) Personal income tax |
i - d, ii - c, iii - b, iv - a
i - c, ii - d, iii - a, iv - b
i - d, ii - c, iii - a, iv - b
i - a, ii - b, iii - c, iv - d
Distinguish between the following concepts:
Public Finance and Private Finance
Distinguish between internal debt and external debt.
Distinguish between the following concepts:
Developmental expenditure and non-developmental expenditure.
Distinguish between the following concepts:
Special assessment and Special levy.
Distinguish between the following concept:
Direct tax and Indirect tax.
State with reason whether you agree or disagree with the following statement:
The obligatory function is the only function of the Government.
State with reason whether you agree or disagree with the following statement:
Fines and penalties are a major source of revenue for the Government.
Agree
Disagree
State with reason whether you agree or disagree with the following statement:
The goods and services tax (GST) has replaced almost all indirect taxes in India.
Agree
Disagree
State with reason whether you agree or disagree with the following statement:
Democratic Governments do not lead to increase in public expenditure.
Agree
Disagree
State with reason whether you agree or disagree with the following statement:
Public finance is more elastic than private finance.
Read the given passage and answer the questions:
|
The conventional notion of social security is that the government would make periodic payments to look after people in their old age, ill health, disability, and poverty. This idea should itself change from writing a cheque for the beneficiary to institutional arrangements to take care of beneficiaries, including by enabling them to look after themselves, to a large extent. The write-a-cheque model of social security is a legacy from the rich world at the optimal phase of its demographic transition when the working population was numeral enough and earning enough to generate the taxes to pay for the care of those not working. This model is ill-suited for less, well-off India with growing life expectancy, increasing urbanization, and resultant migration. Social security under urbanization will be different from social security in a static society. |
- State the conventional notion of social security.
- What kind of conceptual change is suggested in the given paragraph?
- What is the legacy of social security from the rich world?
- Which features of India make the traditional model of social security ill-suited for the economy?
Write the answers in ‘one’ or ‘two’ paras each:
Explain the types of Government budget.
State the importance of the government budget.
Explain the principles of taxation.
Explain non-tax sources of revenue of the Government.
Answer in detail:
Explain various reasons for the growth of public expenditure.
Solutions for 8: Public Finance in India
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता १२ महाराष्ट्र राज्य मंडळ chapter 8 - Public Finance in India
Shaalaa.com has the Maharashtra State Board Mathematics इकॉनॉमिक्स [इंग्रजी] इयत्ता १२ महाराष्ट्र राज्य मंडळ Maharashtra State Board 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. Balbharati solutions for Mathematics इकॉनॉमिक्स [इंग्रजी] इयत्ता १२ महाराष्ट्र राज्य मंडळ Maharashtra State Board 8 (Public Finance in India) 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. Balbharati textbook solutions can be a core help for self-study and provide excellent self-help guidance for students.
Concepts covered in इकॉनॉमिक्स [इंग्रजी] इयत्ता १२ महाराष्ट्र राज्य मंडळ chapter 8 Public Finance in India are Structure of Public Finance > Public Revenue, Types of Taxes, Public Revenue > Non-tax Revenue, Government Budget, Types of Budget, Importance of Budget, Public Finance, Structure of Public Finance > Public Expenditure, Important Social Welfare Schemes by the Government, Public Revenue > Taxes, Structure of Public Finance > Public Debt, Structure of Public Finance > Fiscal Policy, Structure of Public Finance > Financial Administration, Revenue and Capital Budgets, Indirect Tax, Direct Tax, Difference Between Public Finance and Private Finance, GST(Economics).
Using Balbharati इकॉनॉमिक्स [इंग्रजी] इयत्ता १२ महाराष्ट्र राज्य मंडळ solutions Public Finance in India 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 Balbharati Solutions are essential questions that can be asked in the final exam. Maximum Maharashtra State Board इकॉनॉमिक्स [इंग्रजी] इयत्ता १२ महाराष्ट्र राज्य मंडळ students prefer Balbharati Textbook Solutions to score more in exams.
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