Indian Economy ...

Priority Sector lending by banks in India constitutes the lending to  ________________.

Select the correct one/ones the 'external debt' from the list given below :
1. Long term debt is defined as debt with an original maturity of more than one year.
2. Short term debt is defined as debt repayments on demand or with an original maturity of one year or less.

Select the incorrect one about 'recession' as it is perceived in India.

Select the correct one/ones about the system of tax collection in the case of the 'GST' in India, using the code given below:
1. It is a multi-point tax system with the end-user finally bearing the burden of the tax.
2. It has no cascading impact on the prices of the goods and services.
3. It is pro-poor without being anti-rich.

VAT method of tax collection has got dome in-built arrangement by which
1. it encourages growth and checks inflation.
2. it encourages tax compliance, discourages tax evasion.
Select the answer using the code given below:

Consider the following statements regarding 'revenue deficit' and select the incorrect one/ones using the code given below: 
1. It is the gap between the consumption expenditure of the Government and its current revenues.
2. It also indicates the extent to which the government has borrowed to finance the current expenditure.

Which of the following may be considered correct about 'zero-based budgeting'?

Select the correct reason/reasons why the governments impose taxes, using the code given below:
1. To redistribute the income in the economy
2. To subsidize various private goods

Which of the following set of the 'canons of taxation' has been made the part of Indian tax reforms process till date? Select your answer using the code given below:
1. Equality
2. Certainty
3. Convenience
4. Economy

Which of the following come under the Indian classification of the Small Saving Schemes (SSSs)? Select your answer using the code given below:
1. Postal Deposits comprising savings account, recurring deposits, time deposits of varying maturities and monthly income scheme (MIS)
2. Savings Certificates comprising the National Small Savings Certificate (NSC) and Kisan Vikas Patra (KVP)
3. Social Security Schemes comprising the public provident fund (PPF) and Senior Citizens' Savings Scheme (SCSS)