Indian Economy PYQ – Sources of Government Revenue

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Indian Economy PYQ – Sources of Government Revenue – 15 questions, subject: Economy. Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.

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1.  
GSASO 2020
Expenditure on defence and interest payments on public debt are

Correct Answer: B [Non-development expenditure]

Explanation:

Spending on defence and interest on public debt does not create economic or social services, so it is non-development expenditure.

2.  
Group 1 2021
Which is not related to direct tax revenues of the Central Government?

Correct Answer: C [Taxes on commodities and services]

Explanation:

Taxes on commodities and services such as GST and customs are indirect taxes, not direct taxes, because their burden is passed on to consumers.

3.  
Library Service 2023 · Group 1B/1C 2024
Tax levied on personal income is

Correct Answer: C [Direct tax]

Explanation:

Income tax is a direct tax because the person who pays it also bears its burden and cannot shift it to others.

4.  
CEGS 2022
Tax revenues are
1. Taxes on income and expenditure
2. Taxes on property
3. Taxes on commodities
4. Interest receipts and dividends

Correct Answer: B [1, 2 and 3]

Explanation:

Taxes on income, expenditure, property and commodities are tax revenue, while interest receipts and dividends are non-tax revenue.

5.  
Combined Research Assistant 2023
Tax revenue of the Central Government consists of :
(i) Individual income taxes
(ii) Corporate tax
(iii) Commodity taxes or taxes on goods and services

Correct Answer: D [(i), (ii) and (iii)]

Explanation:

The Centre's tax revenue includes individual income tax, corporate tax and commodity taxes such as GST, customs and excise.

6.  
Mass Interviewer 2023
The sources of non-tax revenue are

Correct Answer: A [Commercial revenues and public administrative revenues]

Explanation:

Non-tax revenue comes from commercial revenues, such as profits of public enterprises and service charges, and public administrative revenues such as fees, licences and fines.

7.  
Health Officer 2023 · Fisheries Dept. 2023
The sources of revenue of the government are :
(i) Tax revenue
(ii) Non-tax revenue
(iii) Surplus from public undertakings

Correct Answer: D [(i), (ii) and (iii)]

Explanation:

Government revenue comes from tax revenue, non-tax revenue and surpluses of public undertakings, so all three statements are true.

8.  
Group 2/2A 2024
Match the following :
(a) Tax revenue – 1. Interest receipts
(b) Non-tax revenue – 2. Net market borrowings
(c) Capital receipts – 3. Taxes on income and expenditure

Correct Answer: A [3 1 2]

Explanation:

Taxes on income and expenditure are tax revenue, interest receipts are non-tax revenue, and net market borrowings are capital receipts, giving 3 1 2.

9.  
CEGS 2024
Arrange the following in the order as presented in the budget of Government of India :
1. Capital receipts
2. Total receipts
3. Revenue receipts
4. Total expenditure

Correct Answer: D [3, 1, 2, 4]

Explanation:

The budget presents revenue receipts first, then capital receipts, total receipts and finally total expenditure, giving 3, 1, 2, 4.

10.  
AAO & AHO 2024
In India, taxes include

Correct Answer: C [Both (A) and (B)]

Explanation:

India's tax system includes direct taxes like income and corporate tax as well as indirect taxes like GST and customs duty.

11.  
DPGS 2022
Vivad se Vishwas scheme is related to

Correct Answer: A [Direct tax]

Explanation:

The Direct Tax Vivad se Vishwas Act, 2020 is a dispute settlement scheme letting taxpayers end pending income tax litigation by paying the tax with interest and penalty waived.

12.  
EO Gr. III (HR&CE) 2022
The target of ₹1,05,000 crore of disinvestment receipts was set for the financial year

Correct Answer: C [2019–20]

Explanation:

The Union Budget of July 2019 set a disinvestment receipts target of Rs 1,05,000 crore for 2019-20.

13.  
Veterinary Asst. 2023
The pre-budget Economic Survey is authored by a team led by

Correct Answer: C [Chief Economic Advisor]

Explanation:

The pre-budget Economic Survey is prepared by the Economic Division of the Finance Ministry's Department of Economic Affairs under the Chief Economic Advisor.

14.  
Group 3A 2023
Who presented the first Union Budget in 1947?

Correct Answer: C [R.K. Shanmukham Chetty]

Explanation:

R.K. Shanmukham Chetty, independent India's first Finance Minister, presented the first Union Budget on 26 November 1947.

15.  
Group 1 & 1A 2025
According to Ragnar Nurkse, the starting point and continuation of development lies in

Correct Answer: B [Increasing the rate of capital formation]

Explanation:

Ragnar Nurkse said the vicious circle of poverty can be broken only by increasing the rate of capital formation.

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