LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.A. DEGREE EXAMINATION – ECONOMICS
FIFTH SEMESTER – April 2009
EC 5507 – FISCAL ECONOMICS – II
Date & Time: 06/05/2009 / 1:00 – 4:00 Dept. No. Max. : 100 Marks
PART – A
Answer FIVE questions in about 75 words each: (5 x 4 = 20)
- What are the features of Corporate Tax in India?
- List out the various forms of sales tax.
- What are the objectives of excise duty?
- Define Federal Finance, what are the principles underlying it?
- Explain the concept ‘Wealth Tax’.
- State the meaning and objective of a Budget.
- What are the major local bodies functioning in India?
PART – B
Answer any FOUR questions in about 250 words each: (4 x 10 = 40)
- Examine the effects of Income Tax in India.
- Differentiate Tax evasion and Tax avoidance.
- Bring out the merits and demerits of Sales Tax.
- What is performance Budgeting? what are its features?
- Explain the Principal sources of local Finance.
- Why is VAT to be implemented?
- What are the terms and conditions of Finance Commissions?
PART – C
Answer any TWO questions in about 900 words each: (2 x 20 = 40)
- Examine the case for and against capital gains Tax in India.
- What are the defects of land revenue? Examine the justification of Agricultural Income Tax in India.
- Analyse the evolution of Federal Finance in India.
- Discuss the problems faced by local bodies in raising revenues, suggest remedial measures.
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