Public finance & taxation
Asked in 9 of the last 11 Prelims papers. A must-do.
Start practising · 25 questionsWhat to read first
How it's askedBudget terms, deficits, taxes and government borrowing, asked at concept level.
ReadNCERT Class 12 Macroeconomics ch. 5 · Economic Survey glossary
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all 25 questions
2026Which one of the following best describes the 'Crowding Out Effect' in the context of fiscal policy ?2025“In India, income from allied agricultural activities like poultry farming and wool…” and 1 more statement2025“Capital receipts create a liability or cause a reduction in the assets of the Government.” and 2 more statements2025Suppose the revenue expenditure is ₹ 80,000 crores and the revenue receipts of the Government are ₹ 60,000 crores. The…2025A country's fiscal deficit stands at ₹ 50,000 crores. It is receiving ₹ 10,000 crores through non-debt creating…2024“If the United States of America (USA) were to default on its debt, holders of US…” and 1 more statement2022With reference to the Indian economy, what are the advantages of “Inflation-Indexed Bonds (IIBs)” ?2022Which one of the following situations best reflects “Indirect Transfers” often talked about in media recently with…2022With reference to the expenditure made by an organisation or a company, which of the following statements is/are…2022With reference to the Indian economy: “A share of the household financial savings goes towards government borrowings.”…Show all 25
2021Which among the following steps is most likely to be taken at the time of an economic recession?2021Which one of the following effects of creation of black money in India has been the main cause of worry to the…2021With reference to India: “Retail investors through demat account can invest in 'Treasury Bills' and 'Government of…”…2020Along with the Budget, the Finance Minister also places other documents before the Parliament which include 'The Macro…2020In the context of the Indian economy, non-financial debt includes which of the following ?2018With reference to India’s decision to levy an equalization tax of 6% on online advertisement services offered by…2018“The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has…” and 2 more statements2018If a commodity is provided free to the public by the Government, then2018“The Reserve Bank of India manages and services Government of India Securities but not…” and 2 more statements2018Which of the above items is/are exempted under GST (Goods and Services Tax) ?2017What is/are the most likely advantages of implementing ‘Goods and Services Tax (GST)’ ?2017“Tax revenue as a percent of GDP of India has steadily increased in the last decade.” and 1 more statement2016There has been a persistent deficit budget year after year. Which action/actions of the following can be taken by the…2016Which of the following is/are included in the capital budget of the Government of India?2016The term 'Base Erosion and Profit Shifting' is sometimes seen in the news in the context ofAdvertiseReach UPSC aspirants with one line here. Sponsor Crack Prelims →