LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.A. DEGREE EXAMINATION – ECONOMICS
FIFTH SEMESTER – NOVEMBER 2010
EC 5507 – FISCAL ECONOMICS – II
Date : 09-11-10 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)
- Explain the concept of revenue deficit.
- What are the objectives of customs duty?
- What are the principles of sales tax?
- Explain the features of Motor Vehicle Tax.
- State the obligatory functions of local governments.
- What are the features of a budget?
- What are Grants-in-Aid?
PART – B
Answer any FOUR questions in about 250 words each: (4 X 10 = 40 Marks)
- Discuss for and against corporate income tax in India.
- Examine the merits of sales tax.
- Analyse the effects of personal income tax.
- Explain the tax and non-tax revenue sources of local governments.
- Discuss the principles of federal finance.
- Analyse the limitations of deficit budgeting.
- Examine the sources of revenue for municipal corporations.
PART – C
Answer any TWO questions in about 900 words each: (2 X 20 = 40 Marks)
- What is Value Added Tax? Discuss its advantages and disadvantages.
- Examine the necessity and methods of financing local governments.
- Analyse the causes and consequences of deficit budgeting.
Discuss the recommendations of the 12th Finance Commission.
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