Public finance primarily deals with the management of ___ and ___.

Government receipts and expenditures

True or False: Developmental expenditures include non-productive items like salaries and pensions.

False. Developmental expenditures are productive investments, while non-developmental expenditures cover items like salaries and pensions.

Fill in the blank: The term 'budget' is derived from the French word ___, which means a leather bag.

Bouger

What are the current classifications of expenditures in the Indian public finance system?

Revenue and Capital Expenditure

Fill in the blank: The effective revenue deficit is calculated by excluding expenditures used for ___ creation.

Asset

True or False: A deficit budget indicates that government expenditures exceed its receipts.

True

What is the significance of the Fiscal Responsibility and Budget Management (FRBM) Act in India?

It sets fiscal targets for deficit reduction and promotes fiscal discipline.

Identify one major change in the classification of public expenditure that occurred in India in 2017-18.

The shift from Plan and Non-Plan expenditure to Revenue and Capital expenditure.

Fill in the blank: The primary deficit reflects the government's fiscal position excluding ___ liabilities.

Interest

True or False: Capital receipts are primarily used for day-to-day government operations.

False. Capital receipts are directed towards investments and planned development.

What role do green bonds play in India's fiscal strategy as of 2024?

They are used to finance renewable energy projects and support sustainable development.

Fill in the blank: To enhance fiscal efficiency, the Indian government has adopted ___ budgeting.

Outcome-based