CUET Economics PYQs

The standard rate which is applied to the supply of goods and/or services across the country under the GST.

Arrange the steps involved in preparation of the government budget.

(A) Discussion and approval by the parliament.

(B) Preparation of budget by the Ministry of Finance.

(C) Implementation by the government.

(D) Approval by the Cabinet.

Choose the correct answer from the options given below:

Identify the correct statements from the following.

(A) Borrowings are non-debt creating capital receipt.

(B) Revenue deficit is same as borrowings of the government.

(C) When a government spends more than it collects by way of revenue, it incurs a budget deficit.

(D) The revenue deficit includes only such transactions that affect the current income and expenditure of the government.

Choose the correct answer from the options given below: