Sample Materials for CSAT Paper -1 (G.S.) Pre 2013: "Indian Economy - Fiscal System"

Sample Materials From Our Study Notes for CSAT Paper -1 (G.S.) Pre 2013

Subject: Indian Economy
Topic: Fiscal System

Contents of The Topic:

  • What is Fiscal Policy?
  • Revenue Account Expenditure
  • Capital Account Receipts
  • What is Revenue Deficits
  • Revenue Expenditure
  • Fiscal Deficit
  • What is Budget Deficit
  • Monetised Deficit
  • Primary Deficit
  • FRBM Act 2003
  • Fiscal Consolidation
  • Rangarajan Panel on Public Expenditure
  • Public Debt
  • External Debt & its main component
  • Internal Debt
  • Fringe Benefit Tax
  • What is Fiscal Drag
  • What is Fiscal Drag?
  • Giffen Goods
  • What is Twin Deficits?
  • Last 5 Year UPSC(Pre) Questions Asked From This Topic

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Test Your Knowledge

1.Consider the following statements.
  1. A depression is an economic down turn that is less severe.
  2. A recession is any economic down turn where real GDP declines by more than 10 percent.
Which of the statement given above is / are correct.
  1. Both 1 & 2
  2. 1 only
  3. Neither 1 nor 2
  4. 2 only
 2.Consider the following statements
  1. Difference between fiscal deficit & the interest payments are called primary deficit.
  2. Revenue deficit is the difference between the Revenue receipts on tax & non tax sides & the revenue expenditure.
Which of the statement given above is / are correct.
  1. Both 1 & 2
  2. 2 only
  3. 1 only
  4. Neither 1 nor 2

Answer of Question 1: C

Answer of Question 2: A

Civil Services Interview
IAS - INDIAN ADMINISTRATIVE SERVICES
UPSC
Economics