Which of the following statement is definitely TRUE in the context of the passage ?

The British Government has been religiously maintaining budget secrecy.

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Budget secrecy is likely to lead to corrupt practices.

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Consulting unjustifiable taxes with public helps make them accept those taxes.

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There should be no control on public expenditure in democratic condition.

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None of these.

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Solution

The correct option is E None of these.
None of these.

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Q. We have inherited the tradition of secrecy about the budget from Britain where also the system has been strongly attacked by eminent economists and political scientists including Peter Jay.
Sir Richard Clarke, who was the originating genius of nearly every important development in the British budgeting techniques during the last two decades, has spoken out about the abuse of budget secrecy: ―The problems of long-term tax policy should surely be debated openly with the facts on the table. In my opinion, all governments should have just the same duty to publish their expenditure policy. Indeed, this obligation to public taxation policy is really essential for the control of public expenditure in order to get realistic taxation implications. Realising that democracy flourishes best on the principles of open government, more and more democracies are having an open public debate on budget proposals before introducing the appropriate Bill in the legislature.
In the United States, the budget is conveyed in a message by the President to the Congress, which comes well in advance of the date when the Bill is introduced in the Congress. In Finland the Parliament and the people are already discussing in June the tentative budget proposals which are to be introduced in the Finnish Parliament in September.
Every budget contains a cartload of figures in black and white-but the dark figures represent the myriad lights and shades of India‘s life, the contrasting tones of poverty and wealth, and of bread so dear and flesh and blood so cheap, the deep tints of adventure and enterprise and man‘s ageless struggle for a brighter morning.
The Union budget should not be an annual scourge but a part of presentation of annual accounts of a partnership between the Government and the people. That partnership would work much better when the nonsensical secrecy is replaced by openness and public consultations, resulting in fair laws and the people‘s acceptance of their moral duty to pay.
Q. Which of the following statements is definitely TRUE in the context of the passage?

Q. State whether the following statements are true or false.
1. The budget is a monthly statement.
2. Fiscal policy is related to public revenue and public expenditure.
3. Indirect taxes are paid directly by people to the government.
4. Financial year in India is from 1st March to 28th February.

Q. The public expenditure management is a challenge to the Government of India in context of budget making during the post liberalization period. Clarify it.

Q. Which of the following statement(s) is/are definitely False in the context of the passage?
A Transparency helps unscrupulous elements to resort to corrupt practices.
B Open approach of Government is a sign of healthy democracy.
C People's acceptance of their moral duties can best be achieved through openness and public consultations

Q. Short answer type questions:
Is the following revenue expenditure or capital expenditure in the context of government budget? Give reason.
(i) Expenditure on collection of taxes.
(ii) Expenditure on purchasing computers.

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Which of the following statement is definitely TRUE in the context of the passage ?

The correct option is E None of these.None of these.

The correct option is E None of these.
None of these.