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NextQ26

(i) With suitable examples Distinguish between Direct tax and Indirect tax. (ii) Responding to the Prime Minister's 'Give it up campaign' a large number of Indian families have voluntarily surrendered their cooking gas subsidy. Identify and explain the objective behind this action taken by the Government of India. (i) Distinguish between Revenue Receipts and Capital Receipts of the government, with suitable example. (ii) "Under 'Zero Defect, Zero Effect' (ZED) scheme, the Government of India provides up to 80% subsidy to Micro, Small and Medium Enterprises (MSMEs)." Identify and explain the objective of government budget, highlighted in the above text.

Meaning and Objectives of Government BudgetStudy Simplify SpecialPYQ6LQ
Question 25

(i) Distinguish between Revenue Receipts and Capital Receipts of the government, with suitable example. (ii) "Under the 'Production Linked Incentive' scheme, the Government of India offers various benefits like reduced import-export duties, incentives to investors, tax-rebates etc." In the light of above statement, identify and explain the Budget objective and its likely consequences. (i) "Under 'Zero Defect Zero Effect' (ZED) scheme, the government of India provides up to 80% subsidy to Micro, Small and Medium Enterprises (MSMEs)." Identify and explain the objective of government budget, highlighted in the above text. (ii) Distinguish between Tax Revenue and Non-tax Revenue, with suitable examples.

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