CUET Economics 2025 3 June Shift 2 PYQs

From the following, identify the main features of Fiscal responsibility and Budget Management act.

(A) The actual deficits may exceed the targets specified only on grounds of national security or natural calamity or such other exceptional grounds as the central government may specify.

(B) The Act mandates the central government to take appropriate measures to reduce fiscal deficit to not more than 3 percent of GDP

(C) The central government shall not borrow from the Reserve Bank of India except under specified conditions.

(D) Measures to be taken to ensure greater transparency in fiscal operations.

Choose the correct answer from the options given below:

Which of the following is not true about GST in India?

1. GST has simplified the multiplicity of taxes on goods and services.
2. It has facilitated the freedom of movement of goods and services and created a common market in the country.
3. It is aimed at increasing the cost of business operations.
4. It has also reduced the overall cost of production, which will make Indian products/services more competitive in the domestic and international markets.

Defense of the nation is a service provided by our armed forces. This service is.

1. Non -Public good which is non-rival and non excludable in consumption.
2. Public good which is non-rival and non excludable in consumption.
3. Non -Public good which is rival and non-excludable in consumption.
4. Public good which is rival and non-excludable in consumption.