There is a constitutional requirement in India to present before the Parliament a statement of estimated receipts and expenditures of the government in respect of every financial year which runs from............

When a government spends more than it collections by way of revenue, it incurs a budget deficit. There are various measures that capture government deficit and they have their own implications for the economy. Figure out the statements which describe the nature of fiscal deficit in the economy.

A. Large portion of revenue deficit in fiscal deficit indicates larger investment in the economy.

B. It indicates the total borrowing requirements of the government from all sources.

C. It is calculated to obtain an estimate of borrowing on account of current expenditures exceeding revenues.

D. It is the difference between the government's total expenditure and its total receipts excluding borrowing.

Choose the correct answer from the options given below:

'Rs. 48,000 cr is allotted for PM Awas Yojana in this years budget'.

Identify the government objective fulfilled from the statement above.

The change in equilibrium output that results from a unit increase or decrease in both taxes and government spending is called.

Due to recessionary pressure in an economy, suppose the government plans a deficit budget for a given financial year.

Identify the correct sequence in which this will affect the economy.

(A) Taxes will be reduced, and public spending will increase.

(B) GDP will start rising.

(C) Aggregate demand will rise.

(D) The purchasing power of the people will increase.

Choose the correct answer from the options given below:

A shock absorber which makes disposable income, and thus consumer spending, less sensitive to fluctuations in GDP is called.

Which of the following taxes is a tax levied by the state governments that has been subsumed under GST?