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1. Discuss the rationale for introducing Goods and Services Tax (GST) in India. Bring out critically the reasons for the delay in roll out for its regime.
2. What were the reasons for the introduction of Fiscal Responsibility and Budget Management (FRBM) Act, 2003? Discuss critically its salient features and their effectiveness.
3. What is meaning of the term tax-expenditure? Taking housing sector as an example, discuss how it influences budgetary policies of the government.
4. What is Laffer Curve?
5. What is twin deficit?
6. What are the hurdles faced by the Finance Ministers of India in keeping the fiscal deficit below 3-4 per cent of the GDP? Suggest steps to lower the fiscal deficit.
7. Does reduction in fiscal deficit necessarily assure reduction in inflation?
8. In a developing country like ours what according to you, should be the basis of taxation- income or consumption? Spell out your arguments clearly.
9. What is fiscal drag? What is its effect?
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