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![SCERT Maharashtra solutions for Economics [English] 12 Standard HSC chapter 8 - Public Finance in India - Shaalaa.com](/images/economics-english-12-standard-hsc_6:5f2b1b2038084cf381bfa42c826a928c.jpg "SCERT Maharashtra solutions for Economics [English] 12 Standard HSC chapter 8 - Public Finance in India")
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Solutions for Chapter 8: Public Finance in India
Below listed, you can find solutions for Chapter 8 of Maharashtra State Board SCERT Maharashtra for Economics [English] 12 Standard HSC.
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Choose the correct option
Choose the correct option
Essential characteristics of a tax:
- It is a voluntary contribution to the government.
- Every citizen of the country is legally bound to pay the tax imposed upon him.
- Tax is imposed on income, property or commodities or services.
- The tax payer receives direct and proportionate benefits from the government in return for the tax.
a, d
b, c
b, c, d
a, c, d
Non tax revenue sources:
- Special assessment
- Fines and penalties
- Goods and Services tax
- Gifts, grants and donations
a, b, d
a, b, c
b, c, d
a, c, d
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Complete the correlation
Complete the correlation
______: Protection from external attacks :: Optional function : Provision of social security
Income tax: Direct tax :: GST : ______.
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Give economic terms
Give economic terms
Tax paid at the time of production or sale and purchase of a commodity or service −
Policy that deals with public expenditure, public revenue and public debt –
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Find the odd word
Find the odd word
Non-tax revenue -
Special assessment
Special levy
GST (Goods & Service Tax)
Fees
Find the odd word
Optional functions of Government -
Provision of education and health services
Social security measurement
Protection from external attacks
Welfare measures
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Complete the following statements
Complete the following statements
Government borrows from its citizens, banks, central bank etc. is known as ______.
internal debt
public debt
external debt
government debt
Financial (Fiscal) policy is implemented by the ______.
Central Bank
Reserve Bank of India
Government
Commercial Bank
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Assertion and Reasoning type questions
Assertion and Reasoning type questions
Assertion (A): Public expenditure is that expenditure which is incurred by the public authority. [Central, State and Local Bodies]
Reasoning (R): Public expenditure is undertaken for protection of citizens, satisfying their collective needs and promoting their economic and social welfare.
(A) is True but (R) is False.
(A) is False but (R) is True.
Both (A) and (R) are True and (R) is the correct explanation of (A).
Both (A) and (R) are True and (R) is not the correct explanation of (A).
Assertion (A): Raising debt is the most common activity of any government.
Reasoning (R): Government expenditure generally exceeds government revenue.
(A) is True but (R) is False.
(A) is False but (R) is True.
Both (A) and (R) are True and (R) is the correct explanation of (A).
Both (A) and (R) are True and (R) is not the correct explanation of (A).
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Identify & explain the concepts from the given illustrations
Identify & explain the concept from the given illustration.
Prakash paid an income tax of ₹ 62,000/- during the accounting year 2018-2019.
Identify & explain the concept from the given illustration
Reserve Bank of India helps to raise loans for both the Central and State Governments by selling government bonds, securities etc.
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Distinguish Between
Distinguish between the following concepts:
Public finance and Private Finance
Distinguish Between
Revenue expenditure and Capital expenditure
Distinguish between the following concept:
Direct tax and Indirect tax.
Distinguish between internal debt and external debt.
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Answer the following
Answer the following
Explain any four non- tax sources of public revenue
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India State with reasons whether you agree or disagree with the following statements
State with reason whether you agree or disagree with the following statement:
The obligatory function is the only function of the Government.
Agree
Disagree
State with reason whether you agree or disagree with the following statement:
Public finance is more elastic than private finance.
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 8 Public Finance in India Answer in detail
Answer in detail
Explain various sources of public revenue.
Explain various reasons for the growth of public expenditure.
Solutions for 8: Public Finance in India
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC chapter 8 - Public Finance in India
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Concepts covered in Economics [English] 12 Standard HSC chapter 8 Public Finance in India are Reasons for Growth in Public Expenditure, Tax Revenue, Non-tax Revenue, Government Budget, Types of Budget, Importance of Budget, Public Finance, Structure of Public Finance, Public Expenditure, Classification of Public Expenditure, Public Revenue, Public Debt, Fiscal Policy, Financial Administration.
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