(ii) Recovery of loans It refers to that inflow of cash which the government has disbursed previously. (All India 2013,2012; Delhi 2010C) Which economic value does it reflect? boom, recession, depression and recovery, through various budgetary tools. 6. 1 Mark Questions Ans.Borrowings lead to increase in liabilities of the government, hence, it is a capital receipt. (Compartment 2014) Ans. (iv) Management of public enterprises (All India 2010; Delhi 2009) 7. Teachoo has listed all the important questions for your Class 12 Board Exams. 14. Distinguish between direct tax and indirect tax. Ans. (ii) Redistribution of incomeThe economic value that is reflected in the rise in tax rate for higher income group is the ‘equality and social welfare’. (iii) Other receipts It includes (ii) Capital budget It is an account of the assets as well as the liabilities of the Central Government, which takes into consideration changes in capital during a fiscal year. tax receipts of the government. Sources of revenue receipts are : OR. (All India 2011,2008; Delhi 2009) 8. (a)Public Government Budget and The Economy Important Questions for class 12 economics Concept and Components of Government Budget. loans taken by the government, disinvestment of any PSUs, etc. MCQ Questions for Class 12 Economics with Answers, Selina Concise Mathematics Class 10 ICSE Solutions 2020-21, Human Eye and Colourful World Class 10 Extra Questions with Answers Science Chapter 11, Download Social Science Notes PDF for CBSE Class 6 to Class 10 Quick Revision, Science Notes | Quick Revision Notes for CBSE Class 6 to Class 10 Science – Free PDF Download, Download CBSE Maths Notes for 6 to 12 Classes | NCERT Maths Quick Revision Notes for Class 6 to 12 Free PDF, MCQ Questions for Class 11 Economics with Answers Chapter Wise PDF Download, Download All Chapters Social Science NCERT Solutions Pdf for Class 6 to Class 10, Science NCERT Solutions Class 6 to Class 10 Chapterwise Free PDF Download, Downlaod Free NCERT Solutions for Class 6 to Class 12 Maths | NCERT Maths Textbook Solutions PDF, Free Class 11 & Class 12 Chapterwise Physics NCERT Solutions PDF Download, Concise Mathematics Class 10 ICSE Solutions, 1. Free PDF Download - Best collection of CBSE topper Notes, Important Questions, Sample papers and NCERT Solutions for CBSE Class 12 Economics Government Budget and the Economy. Define a direct tax. (b) Mobilisation of savings through NSC, KVP, etc. Your email address will not be published. 4 Marks Questions Economics Class 12 Chapter 5 The Government - Functions and Scope is an important chapter and helps the students in learning about the budget. Hence borrowing in government budget … Ans. Markets. Why is repayment of loan a capital expenditure? or CBSE Syllabus for Class 12 Biology Practical Exam 2018 – 2019 is available here. Government budget shows its comprehensive exercise on the taxation and subsidies. 23. These Economics test papers are specially designed to simulate a similar test pattern to CBSE Class 12 exams so you get to learn a lot after each progressive attempt you make in the mock test series. Giving reason, state whether the following is a revenue expenditure or a capital expenditure in a government budget: On what basis is government expenditure classified into capital expenditure and revenue expenditure? Two sources of non-tax revenue receipts are : Important & Viva Questions for Class 12 Eco Download NCERT Solutions and Offline Apps based on various subjects. Also give an example of each. Why are borrowings a capital receipt? Classify the following receipts into revenue receipts and capital receipts. Ans. The government uses the fiscal instruments of subsidies and taxation to improve the distribution of income and wealth in the economy. Direct taxes are those taxes for which the incidence and impact of tax falls on the same person, i.e. First of all finance bill is presented in the. Ans. (Delhi 2010c) Through its taxation policy, government levies high rate of tax on rich people reducing their disposable income and lowers the rate on lower income group. 5. (Delhi 2011 C; All India 2008) Main objectives of budget are: (i) Reallocation of resources. February 7, 2020. Social justice is the principal objective of annual budget of a developing country like India. How can the government budget be helpful in altering distribution of income in an economy? 4. actual burden of taxes cannot be shifted, e.g. (iii) Economic stability. (iii) Economic stability. Register for Online tuition on Vedantu.com to score more marks in CBSE board examination. 38. 3. expenses on the construction of national highways, dams and repayment of loans, etc. Explain the objectives of resource allocation and income distribution in a government budget. 29. Ans.The expenditure of the government which neither cause any increase in the government assets nor cause any reduction in government liabilities, are termed as revenue expenditures, e.g. On the other hand, the government spent these tax receipts on granting subsidies and providing other public services such as health and education, to people with lower income groups, the wealth gets redistributed and reduction in inequalities is achieved. CBSE Class 12 Economics Chapter- Government Budget and the Economy Important Questions – Free PDF Download. On the other hand, the government spent these tax receipts on granting subsidies and providing other public services such as health and education, to people with lower income groups, the wealth gets redistributed and reduction in inequalities is achieved. (Compartment 2014) Types of Budget Distinguish between revenue receipts and capital receipts in a government budget. Economics Project on Government Budget – Class 12 CBSE. This chapter explains in brief a manner about how the budget and employment are determined. Define capital expenditure. NRI. Project on Stock Exchange Financial Management Class 12 CBSE. (vii) Reducing regional disparities. tax receipts of government. 22. Budget Changes 2019; Different Taxes in India; Practical VAT CST; Practical Service Tax; Practical Excise; Work Contract Tax; NCERT Solutions. (c) Foreign Governments (Delhi 2011c, 2009c) Give an example of each. Government budget is a statement of expected/estimated receipts and expenditures of the government over a period of a financial year, i.e. NCERT Solutions for Class 6, 7, 8, 9, 10, 11 and 12. (All India 2008) Budget is a financial statement showing the expected receipt and expenditure of Govt. Free PDF Download - Best collection of CBSE topper Notes, Important Questions, Sample papers and NCERT Solutions for CBSE Class 12 Economics Government Budget and the Economy. 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