Government Budget and Its Components

Economics ⇒ Government and the Economy

Government Budget and Its Components starts at 11 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Government Budget and Its Components. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.

See sample questions for grade 12

Define a government budget.

Distinguish between revenue expenditure and capital expenditure.

Explain the concept of 'zero-based budgeting'.

Explain the difference between budget deficit and fiscal deficit.

Explain the difference between direct and indirect taxes with examples.

Explain the term 'balanced budget'.

Explain the term 'budgetary policy'.

A government’s revenue receipts are Rs. 500 crore and revenue expenditure is Rs. 600 crore. Calculate the revenue deficit.

Which of the following is a capital expenditure? (1) Salaries (2) Construction of roads (3) Subsidies (4) Pensions

Which of the following is a capital receipt? (1) Income tax (2) Recovery of loans (3) Customs duty (4) Fees

Which of the following is a non-tax revenue? (1) Excise duty (2) Dividends from public sector undertakings (3) Income tax (4) Customs duty

Which of the following is a plan expenditure? (1) Interest payments (2) Defence (3) Expenditure on new infrastructure projects (4) Subsidies

Fill in the blank: _______ deficit is calculated as revenue deficit plus capital expenditure minus non-debt capital receipts.

Fill in the blank: _______ receipts do not create any liability or reduce any asset of the government.

Fill in the blank: The budget is presented in the Parliament by the _______.

Fill in the blank: The difference between total receipts and total expenditure of the government is called _______.

Is the following statement true or false? 'Borrowings by the government are treated as capital receipts.'

Is the following statement true or false? 'Revenue deficit indicates the government is dis-saving.'

True or False: Disinvestment is a capital receipt for the government.

True or False: Expenditure on defence is a revenue expenditure.