LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

   B.A. DEGREE EXAMINATION – ECONOMICS

TA 13

FIFTH SEMESTER – November 2008

EC 5507 – FISCAL ECONOMICS – II

 

 

 

Date : 10-11-08                     Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

 

PART – A

 

Answer any FIVE questions in about 75 words each                                    (5 X 4 = 20 Marks)

 

1. What is Tax?
2. Define wealth tax.
3. What is VAT?
4. Define Federal Finance.
5. Differentiate between Excise Duty and Sales Tax.
6. What are the principal sources of Public Finance?
7. What is Deficit Financing?

 

PART – B

 

Answer any FIVE questions in about 250 words each                      (4 X 10 = 40 Marks)

 

1. Differentiate between Deficit Financing and Deficit Budgeting.
2. Examine the effects of Income Tax.
3. What are the arguments for and against Death duties?
4. What are the salient features of personal income tax in India?
5. Examine the case for and against Capital gains tax.
6. Discuss the effects of Deficit Financing in India.
7. What are the principles of Federal Finance?

 

PART – C

 

Answer any TWO questions in about 900 words each                      (2 X 20 = 40 Marks)

 

15. What are the objectives of Excise duty? State the arguments in support of the duty.

1. Explain the effects of taxation on Production and Distribution.
2. Explain the various forms of transfer of financial resources from the union to the State Governments in India.

What are the recommendations of 12^th Finance Commission?

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