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State with reason whether you agree or disagree with the following statement: Fines and penalties are a major source of revenue for the Government. - Economics

MCQ
True or False

State with reason whether you agree or disagree with the following statement:

Fines and penalties are a major source of revenue for the Government.

Options

  • Agree

  • Disagree

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Solution

I disagree with the above statement.

Reason:

The government imposes fines and penalties on those who violate the laws of the country. The objective of the imposition of fines and penalties is not to earn income, but to discourage the citizens from violating the laws framed by the Government. For example, fines for violating traffic rules. However, the income from this source is small.

Concept: Structure of Public Finance - Public Revenue
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 8 Public Finance in India
Exercise | Q 3. (2) | Page 80
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