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Complete the Correlation.(1) Direct Tax : Wealth Tax :: ……….. : Excise Duty (2) High degree of credit: Public finance:: Limited Credit: ………..(3) Expenditure on education : Developmental expenditure :: War expenditure :……….. (4) Internal debt : Government borrows from its citizens :: ……….. : Government borrows from World Bank (5) Surplus budget : Government Receipts Government Expenditure:: ……..: Government Receipts Government Expenditure (6) Optional function : Provision of social security :: ……..: Protection from external attacks (7) Progressive Tax : Tax rate increases with . increase in income :: ……. : Tax rate decreases with rise in income : (8) Old age pension : Revenue expenditure :: Investment in machines : ……… |
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Answer» 1. indirect tax 2. Private finance 3. Non-developmental expenditure 4. External debt 5. Deficit budget 6. Obligatory function 7. Regressive Tax 8. Capital expenditure |
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