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Worksheet - Govt Budget

1. The document is a worksheet on government budgets and economics for class 12 students. It contains short answer and long answer questions about key concepts related to government budgets, including objectives of budgets, types of receipts and expenditures, and how budgets can influence the economy. 2. Some of the short answer questions ask students to define revenue and capital receipts, give examples, and classify items as revenue or capital. Other questions ask students to explain objectives of government budgets like resource allocation and income distribution. 3. The long answer questions require students to explain major components of government budgets, and how taxes, expenditures and subsidies can influence resource allocation, income distribution, and economic stability. Students are also asked to define and distinguish

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702 views3 pages

Worksheet - Govt Budget

1. The document is a worksheet on government budgets and economics for class 12 students. It contains short answer and long answer questions about key concepts related to government budgets, including objectives of budgets, types of receipts and expenditures, and how budgets can influence the economy. 2. Some of the short answer questions ask students to define revenue and capital receipts, give examples, and classify items as revenue or capital. Other questions ask students to explain objectives of government budgets like resource allocation and income distribution. 3. The long answer questions require students to explain major components of government budgets, and how taxes, expenditures and subsidies can influence resource allocation, income distribution, and economic stability. Students are also asked to define and distinguish

Uploaded by

Alans Technical
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
  • Worksheet Details
  • Long Answer Type Questions

INDIAN SCHOOL DARSAIT

DEPARTMENT OF COMMERCE
Subject :Economics Topic : Unit-4 _Government Budget Date of Worksheet :10/5/2022
and the Economy
Resource Person: Rejina A K P Date of submission:

Name of the Student :____________________________ Class & Div.: XII__ Roll No. : ___
WORKSHEET
I Short Answer type of Questions(3/4 Marks)

1. State 3 objectives of government budget.


2. How can a Government budget help in reallocation of resources?
3. How can Govt budget be helpful in altering the income distribution? Explain.
4. How can budgetary policy be used to reduce inequalities of income?
5. Distinguish between revenue receipts and capital receipts. Give an example of each.
6. State 3 sources each of revenue receipts and capital receipts in Govt budget.
7. Explain the basis of classifying Govt receipts into revenue receipts and capital
receipts. Which type of these receipts are borrowings by Govt and Why?
8. Explain any one objective of Government budget.
9. Explain the basis of clarifying taxes into direct and indirect tax. Give examples.
10. Is the following, a revenue receipt or a capital receipt in the context of Govt budget
and Why?
i) Tax receipts
ii) Disinvestment
11. Giving reasons, Classify the following into revenue receipts and capital receipts.
i)Recovery of loans
ii) Profits of public sectors undertakings.
iii) Borrowings
12. What is the basis of classifying Govt expenditure into revenue expenditure and
capital expenditure? Which of these types of expenditure is payment of salaries to
Govt employee and Why?
13. Giving reason, State whether the following is a revenue expenditure or a capital
expenditure in a Govt Budget:
i) Expenditure on scholarships
ii) Expenditure on building a bridge
14. Is the following a revenue expenditure or capital expenditure in the context of Govt
Budget? Give reasons.
i) Expenditure on collection of taxes
ii) Expenditure on purchasing Computers
15. Explain the meaning and implications of revenue deficit.
16. Distinguish between revenue deficit and fiscal deficit.
II Long Answer type of question
1. What is Govt budget? Explain its major components.
2. What is Govt budget? Explain how taxes and subsidies can be used to influence
allocation of resources.
3. Explain how the allocation of resources can be influenced in the Govt budget through
taxes, expenditure and subsidies.
4. Explain how the Govt can use the budgetary policy to reduce inequalities in incomes.
5. Define revenue receipts in a Govt budget. Explain how Govt budget can be used to
bring in price stability in the economy.
6. Explain (a) Allocation of resources and (b) Economic stability as objectives of Govt
budget.
7. Explain the following objectives of Govt budget:
a) Allocation of resources
b) Reducing income inequalities
8. Explain the budgetary measures for achieving following objectives.
i) Setting up of production Units in backward regions.
ii) Reducing inequalities of income and wealth.
9. Explain the basis of classifying taxes into direct and indirect tax. Give two examples
of each.
10. What is the difference between direct tax and indirect tax? Explain the role of Govt
budget in influencing allocation of resources.
11. Classify the following taxes into direct and indirect tax. Give reason for your answer.
i) Corporation tax
ii) Entertainment tax
iii) Excise duty
iv) Income tax
12. Distinguish between the following. Also give an example of each.
i) Direct tax and indirect tax
ii) Revenue expenditure and capital expenditure
13. Explain the meaning of the following:
i) Revenue deficit
ii) Fiscal deficit
iii) Primary deficit
14. What is the difference between revenue expenditure and capital expenditure? Explain
how taxes and Govt expenditure can be used to influence distribution of income in
the society.
15. Distinguish between:
i) Direct tax and indirect tax
ii) Primary deficit and revenue deficit
16. Distinguish between the following:
i) Revenue receipts and capital receipts
ii) Revenue deficit and fiscal deficit
17. Govt across nations are too much worried about the term fiscal deficit. Do you think
that fiscal deficit is necessarily inflationary in nature? Support your answers with
valid reasons.

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