How does the VAT system of taxation reduce the ‘cascading effect’ of taxes?   ECONOMY

1) It avoids imposition of tax upon tax.

2) The system insists on single point tax collection.

Which of the above is/are correct?

In an open economy without government intervention, trade deficit can be financed by

In India, deficit financing is usually resorted in order to

1) Finance the revenue deficit component

2) Undertake developmental expenditure

3) Bridge the short-term Current Account Deficit (CAD)

Select the correct answer using the codes below.

Revenue Expenditure does NOT include

Zero-base budgeting (ZBB) involves

1) Planning in view that the nation is industrially backward

2) The assumption that there are little or no natural resources to be leveraged

3) Budgeting keeping in mind the GDP at constant prices at factor cost

Select the correct answer using the codes below.