Daily Quiz- 347
Budget GK
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Q1. Repayment of loans is classified as:
A. Revenue expenditure
B. Capital expenditure
C. Revenue receipt
D. Capital receipt
Q2. Fiscal deficit indicates:
A. Inflation rate
B. Revenue shortfall
C. Borrowing requirement
D. Trade imbalance
Q3. Revenue deficit implies:
A. Borrowing for asset creation
B. Borrowing for consumption
C. Zero fiscal deficit
D. Efficient public finance
Q4. Primary deficit measures:
A. Current fiscal discipline
B. Total public debt
C. Revenue imbalance
D. Inflationary pressure
Q5. Zero primary deficit means:
A. No fiscal deficit
B. No borrowing
C. Borrowing only for interest
D. No interest payments
Answers Quiz- 346
1: C
Trap: Assuming Contingency Fund needs prior approval.
Explanation: Contingency Fund requires post-facto approval; Public Account needs none.
2: C
Trap: Confusing it with Public Account.
Explanation: The Contingency Fund is operated by the President and later approved by Parliament.
3: B
Trap: Treating borrowings as income.
Explanation: Borrowings create liabilities → capital receipt.
4: B
Trap: Assuming “income” = revenue receipt.
Explanation: Disinvestment reduces assets → capital receipt.
5: D
Trap: Confusing high spending with productive spending.
Explanation: Capital expenditure creates assets and raises growth potential.
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