The excise duty’s share in the total tax revenue, which was 41.3 percent in 1992-93, declined to 25.1 percent in 2006-07. The customs duty’s share in the total tax revenue, which was 31.9 percent in 1992-93, fell to 17.5 percent in 2006-07, as a result of massive structuring on excise and customs.

State Finace Commission governs the distribution between the State and the Panchayats of the net proceeds of the taxes, duties, tolls and fees leviable by the State, which may be divided between them under this Part and the allocation between the Panchayats at all levels of their respective shares of such proceeds; the determination of the taxes, duties, tolls and fees which may be assigned as, or appropriated by, the Panchayats; the grants-in-aid to the Panchayats from the Consolidated Fund of the State.

Notwithstanding some moderation, food price inflation has remained persistently elevated for over a year now, reflecting in part the structural demandsupply mismatches in several commodities. The trend of food inflation was pointing at not only structural demand-supply mismatches in commodities comprises the essential consumption basket but also at changing consumption patterns.

Income from “tourism” is an invisible export and brings foreign exchange in the country.

Governments use fiscal policy to influence the level of aggregate demand in the economy. It is an effort to achieve economic objectives of price stability, full employment, and economic growth.

Current Account deficit is excess of Exports over imports. After devaluation of domestic currency, domestic goods would become cheaper which will create additional demand for countries products in the world markets.
Rising capital Inflow through FDI and FII may appreciate the domestic currency and can worsen a country’s current account by increasing more imports and reducing exports, FDI and FII represents non-debt liabilities.

Foreign Direct Investment only targets a specific enterprise. It aims to increase the enterprises capacity or productivity or change its management control. The FII investment flows only into the secondary market. It helps in increasing capital availability in general rather than enhancing the capital of a specific enterprise. The Foreign Direct Investment is considered to be more stable than Foreign Institutional Investor. FDI not only brings in capital but also helps in good governance practices and better management skills and even technology transfer.

The statements 1st and 3rd are correct, but 2nd statement is wrong because, the member should be aged between 18 and 59 years not 30 and 65 years.

Microfinance is a movement whose object is “a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, including not just credit but also savings, insurance, and fund transfers.”

All adult members of the household who registered can apply for work. To register, they have to: Be local residents

The Commission shall make recommendations as to the following matters, namely:
(i) The distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under Chapter I Part XII of the Constitution and the allocation between the States of the respective shares of such proceeds;
(ii) The principles which should govern the grantsin-aid of the revenues of the States out of the Consolidated Fund of India and the sums to be paid to the States which are in need of assistance by way of grants-in-aid of their revenues under article 275 of the Constitution for purposes other than those specified in the provisions to clause (1) of that article; and
(iii) The measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.

Statement 1 is not correct as caretaker Government is the government which is ready to Go, it does not present the Interim Budget. The Interim Budget is presented by the Incoming Government or new Government which has different fiscal and revenue plans from the outgoing Government.

The statement 1 is correct because it includes the definition of teaser loans but the statement (2) is not correct, because in India teaser loan is provided to the home buyers not setting up manufacturing or export units.

The concept of the inclusive growth is based on both economic and social empowerment of ordinary and under privileged individuals. Thus all the statement are correct.

When we say “Mainly” the money is to be used to pay the external debt, it is not correct to say so. Government though “may intend” to retain the management control, but there are fiscal constraints, that induce the government to go for disinvestment. Both statements are NOT correct.

Inflation and economic growth are parallel lines and can never meet. Inflation reduces the value of money and makes it difficult for the common people. Inflation and economic growth are incompatible because the former affects all sectors as indicated by CPI or Consumer Price Index.

Bank rate refers to the official interest rate at which RBI will provide loans to the banking system which includes commercial/cooperative banks, development banks etc. when RBI lowers the bank rate, the cost of borrowing for banks decreases and the credit volume gets increased leading to increase in money and more liquidity in the market.

DRDA has traditionally been the principal organ at the district level to oversee the implementation of anti-poverty programmes of the Ministry of Rural Development. It does not acts as Panchayati Raj Institutions.

Deprivation of education, health, assets and services at household level.