LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034 M.A. DEGREE EXAMINATION – ECONOMICS
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FOURTH SEMESTER – APRIL 2007
EC 4808 – PUBLIC ECONOMICS – II
Date & Time : 16-04-2007/9.00-12.00 Dept. No. Max. : 100 Marks
Part – A
Answer any FIVE questions in about 75 words each. (5 x 4 = 20 marks)
- Comment on the changes introduced in the estimation of Personal Income Tax estimation for the year 2007-08
- What is the significance of additional cess levied across the board to strengthen higher education in India?
- What is MAT? Why is it necessary?
- Distinguish between horizontal and vertical resource transfers.
- What are statutory and discretionary resource transfers between Centre and States?
- Comment on the norms recommended by XII Finance Commission for the transfer of Personal Income Tax and Excide duty receipts to States and Union Territories.
- What is State Excise duty? Account for its size and growth in Tamil Nadu in recent years.
Part – B
Answer any FOUR questions in about 250 words each. (4 x 10 = 40 marks)
- Account for the fiscal deficit of Tamil Nadu government.
- How are proportional taxes on corporate income shifted under imperfect competition?
- Explain the concept of fiscal dynamics with the help of Paul Antony Samuelson’s model.
- “Elasticity of LM and IS schedules determines the role of fiscal and monetary policies in economic stabilization” – Discuss.
- Bring out the salient features of Railway budget for the year 2007-08.
- What is infant industry argument? How far it is relevant in India today?
- “Agriculture in India is under taxed”. Substantiate your view.
Part – C
Answer any TWO questions in about 300 words each. (2 x 20 = 40 marks)
- Propose the ideal fiscal policy mix for India for sustainable economic growth and development.
- What are the major areas of conflict in Centre-State financial relations in India? How are they handled?
- (a) Measure excess burden under general equilibrium conditions.
(b) Measure the burden arising out of a tax on corporate income.
- Assess the indirect tax reforms introduced in India since 1991.