Public Finance-Budgetary Deficits (IEcoS (Economic Services) Economics Paper-3): Questions 1 - 5 of 5

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Question number: 1

» Public Finance » Budgetary Deficits

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Appeared in Year: 2017

Essay Question▾

Describe in Detail

Explain the concepts of revenue deficit, effective revenue deficit, fiscal deficit and primary deficit. (200w, 15 Marks)

Explanation

Deficit is excess of expenditure over revenue received. There are different concepts to measure deficit out of which revenue deficit, effective revenue deficit, fiscal deficit and primary deficit is mostly used in government accounts.

  1. Revenue deficit is the difference between revenue expenditure and revenue receipts. As per the Fiscal Responsi

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Question number: 2

» Public Finance » Budgetary Deficits

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Appeared in Year: 2017

Essay Question▾

Describe in Detail

What do you understand by dead weight loss (excess burden) in commodity taxation? (100w, 5 Marks)

Explanation

Dead weight loss is the fall in total surplus that results from a market disruption such as a tax.

  • In other words, it is a loss of economic efficiency that can occur when equilibrium for a good or service is not achieved.

  • It consists of the loss of consumer surplus for buyers plus the loss of producer surplus for sellers who do not partici

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Question number: 3

» Public Finance » Budgetary Deficits

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Appeared in Year: 2011

Essay Question▾

Describe in Detail

Write a short note on Revenue and Fiscal deficits.

Explanation

Revenue deficit is the gap between total revenue expenditure of the government and its total revenue receipts.

  • The traditional concept of revenue deficit seeks to capture the effect of the budget on the economy in medium term. It gives the information on what the government is borrowing for.

  • The revenue deficit implies a repayment burden

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Question number: 4

» Public Finance » Budgetary Deficits

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Appeared in Year: 2018

Essay Question▾

Describe in Detail

Discuss the merits and demerits of recent ‘Demonetization Policy’ of India.

Explanation

Demonetization policy is the policy in which the currency is stripped off its status as legal tender. The old notes are pulled out from the circulation in the economy and introduce new notes to replace old notes.

The main objective of the policy is that black money is finished from the economy as well as the tax evasion should reduce.

Merits o

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Question number: 5

» Public Finance » Budgetary Deficits

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Appeared in Year: 2018

Essay Question▾

Describe in Detail

Distinguish between Revenue deficit and Fiscal deficit.

Explanation

Revenue deficit is the gap between total revenue expenditure of the government and its total revenue receipts.

  • The traditional concept of revenue deficit seeks to capture the effect of the budget on the economy in medium term.

  • It gives the information on what the government is borrowing for.

  • The revenue deficit implies a repayment bur

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