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Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 8 - Public Finance in India [Latest edition]

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Economics 12th Standard HSC Maharashtra State Board - Shaalaa.com

Chapter 8: Public Finance in India

Exercise
Exercise [Pages 79 - 80]

Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board Chapter 8 Public Finance in India Exercise [Pages 79 - 80]

Exercise | Q 1. (1) | Page 79

Choose the correct option:

Optional functions of Government :

a) Protection from external attack

b) Provision of education and health services

c) Provision of social security measures

d) Collection of tax

  • b and c

  • a, b and c

  • b, c and d

  • All of the above

Exercise | Q 1. (2) | Page 79

Choose the correct option:

Obligatory functions of the Government:

a) Provision of employment

b) Maintaining internal law and order

c) Welfare measures

d) Exporting goods and services

  • c and d

  • a and b

  • only b

  • a, c and d

Exercise | Q 1. (3) | Page 79

Choose the correct option:

"Definition - Public finance is one of those subjects which are on the borderline between economics and politics." ......... given by

a) Adam Smith

b) Alfred Marshall

c) Prof. Hugh Dalton

d) Prof. Findlay Shirras

  • only a

  • only b

  • only c

  • only d

Exercise | Q 1. (4) | Page 79

Choose the correct option:

Non-tax sources of revenue:

a) Direct and Indirect Tax

b) Direct Tax and Fees

c) Fees

d) Special Levy

  • b and c

  • a and c

  • a, b, c and d

  • c and d

Exercise | Q 1. (5) | Page 79

Choose the correct option:

Trends shown by Public expenditure of any Government shows following trend.

a) Constant

b) Increasing

c) Decreasing

d) Fluctuating

  • only a

  • only b

  • only c

  • only d

Exercise | Q 1. (6) | Page 79

Choose the correct option:

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

Exercise | Q 2. (1) | Page 79

Distinguish between the following concept:

Public finance and Private finance

Exercise | Q 2. (2) | Page 79

Distinguish between the following concept:

Internal debt and External debt

Exercise | Q 2. (3) | Page 79

Distinguish between the following concept:

Developmental expenditure and Non-developmental expenditure.

Exercise | Q 2. (4) | Page 79

Distinguish between the following concept:

Special assessment and Special levy.

Exercise | Q 2. (5) | Page 79

Distinguish between the following concept:

Direct tax and Indirect tax.

Exercise | Q 3. (1) | Page 80

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

Obligatory function is the only function of the Government.

  • Agree

  • Disagree

Exercise | Q 3. (2) | Page 80

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

Exercise | Q 3. (3) | Page 80

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

Exercise | Q 3. (4) | Page 80

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

Democratic Governments do not lead to increase in public expenditure.

  • Agree

  • Disagree

Exercise | Q 3. (5) | Page 80

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

Public finance is more elastic than private finance.

  • Agree

  • Disagree

Exercise | Q 4 | Page 80

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 care for 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 numerals 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.

  1. State the conventional notion of social security.
  2. What kind of conceptual change is suggested in the given paragraph?
  3. What is a legacy of social security from the rich world?
  4. Which features of India make the traditional model of social security ill-suited for the economy?
Exercise | Q 5. (1) | Page 80

Write the answers in ‘one’ or ‘two’ paras each: 

Explain the types of Government budget.

Exercise | Q 5. (1) | Page 80

State the importance of the Government budget.

Exercise | Q 5. (2) | Page 80

Explain the principles of taxation.

Exercise | Q 5. (3) | Page 80

Explain non-tax sources of revenue of the Government.

Exercise | Q 6. (1) | Page 80

Explain various reasons for the growth of public expenditure.

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Chapter 8: Public Finance in India

Exercise
Economics 12th Standard HSC Maharashtra State Board - Shaalaa.com

Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 8 - Public Finance in India

Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 8 (Public Finance in India) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Economics 12th Standard HSC Maharashtra State Board solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in Economics 12th Standard HSC Maharashtra State Board chapter 8 Public Finance in India are Public Finance in India, Structure of Public Finance, Public Expenditure, Public Revenue, Public Debt, Fiscal Policy, Financial Administration.

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