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Test: Uttar Pradesh Public Finance and fiscal Policy - UPPSC (UP) MCQ


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10 Questions MCQ Test - Test: Uttar Pradesh Public Finance and fiscal Policy

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Test: Uttar Pradesh Public Finance and fiscal Policy - Question 1

What is the primary focus of Public Revenue in the field of Public Finance?

Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 1
Public Revenue in Public Finance specifically focuses on the means of generating public income, involving both tax and non-tax sources. It delves into the principles guiding taxation, tax rates, and the broader impact of taxes on individuals and businesses.
Test: Uttar Pradesh Public Finance and fiscal Policy - Question 2

Which of the following is an example of Contractionary Fiscal Policy?

Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 2
Contractionary Fiscal Policy aims to moderate economic growth by either curtailing government spending or increasing taxes. Raising taxes on individuals is an example, as it reduces disposable income and curbs consumer spending.
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Test: Uttar Pradesh Public Finance and fiscal Policy - Question 3

What is the primary objective of Fiscal Policy?

Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 3
Fiscal Policy, as a strategic economic policy, is primarily aimed at regulating the overall economy by using government spending and taxation to achieve macroeconomic goals like full employment, price stability, and economic growth.
Test: Uttar Pradesh Public Finance and fiscal Policy - Question 4
In the context of Uttar Pradesh's public finance, what has been a recent challenge mentioned?
Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 4
One of the challenges in Uttar Pradesh's public finance is the low tax-GDP ratio, indicating a struggle to generate sufficient revenue to meet expenditure needs.
Test: Uttar Pradesh Public Finance and fiscal Policy - Question 5
What does the Fiscal Responsibility & Budget Management Act, 2004, focus on?
Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 5
The Fiscal Responsibility & Budget Management Act, 2004, focuses on setting fiscal targets for short-term economic goals and managing government finances effectively.
Test: Uttar Pradesh Public Finance and fiscal Policy - Question 6
What is the purpose of the Mid-term Fiscal Restructuring Policy according to the Uttar Pradesh FRBM Act?
Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 6
The Mid-term Fiscal Restructuring Policy, as per the Uttar Pradesh FRBM Act, involves sharing financial goals for the next five years, including estimates, spending details, and plans.
Test: Uttar Pradesh Public Finance and fiscal Policy - Question 7
What is the significance of the Capital Outlay/Fiscal Deficit ratio exceeding 100% in the fiscal context?
Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 7
When the Capital Outlay/Fiscal Deficit ratio exceeds 100%, it indicates that not only is the government's net borrowing being used for capital expenditure but also a significant portion is financed through revenue savings.
Test: Uttar Pradesh Public Finance and fiscal Policy - Question 8
What does the tax-to-GSDP ratio indicate for Uttar Pradesh in the fiscal year 2023-24?
Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 8
The tax-to-GSDP ratio for Uttar Pradesh in the fiscal year 2023-24 indicates continuous growth in tax revenue, reflecting positive improvements in the quality of public spending.
Test: Uttar Pradesh Public Finance and fiscal Policy - Question 9
What is the estimated share of own tax revenue as a percentage of GSDP for the fiscal year 2022-23?
Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 9
The estimated share of own tax revenue as a percentage of GSDP for the fiscal year 2022-23 is projected to be 10.8%, indicating a significant portion of revenue relative to the state's economic output.
Test: Uttar Pradesh Public Finance and fiscal Policy - Question 10
Which department is responsible for revenue generation through Commerce Tax in Uttar Pradesh?
Detailed Solution for Test: Uttar Pradesh Public Finance and fiscal Policy - Question 10
In Uttar Pradesh, the Revenue Department is primarily responsible for revenue generation through Commerce Tax.
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