Question

❤️Q2. Corporation tax, income tax, import-export tax and production tax are the main sources of .................. of

Government.

a. Saving b. Consumption. c. Income d. Investment

❤️Q3. Which is not the main work of RBI?

a. Issuance of currency notes

b. Working as a banker for Government banks

c. Determining the budget of the Government

d. Regulating and controlling the country's monetary system

❤️Q4. Due to the advent of computers in the banks of India, many employees became unemployed due to lack of

technical knowledge of computers. What is this unemployment called in economics?

a. Disguised Unemployment b. Technical unemployment

c. Seasonal Unemployment d. Frictional unemployment
❤️​

Answer 1

Answer:

For long, the Union Budget was more about which goods became costlier and which ones dearer, depending on the tax changes the government of the day would bring about in order to mop up the revenue required for a financial year. Even since GST rollout, merging various levies into one single tax, the Union Budget ceased to have any say on the indirect tax regime, barring import duty. The Budget now is all about direct taxes, which mainly include income tax and its variance.

Here is a lowdown on the taxes that you will get to hear in the Budget speech: