Fiscal Federalism refers to:
Options
AFederal Government only
BFinancial relations between Central and State
CBanking system
DInternational trade
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Public FinancePYQ - Nov 2020 (Inter)Question 138 of 20
All Questions Correct Answer
✅ Option b — Financial relations between Central and State
All Options:
- AFederal Government only
- BFinancial relations between Central and State
- CBanking system
- DInternational trade
About This Chapter: Public Finance
Paper
Paper 4: Business Economics
Weightage
10%
Key Topics
Fiscal Policy, Budget, Market Failure
This chapter deals with government finances — how the government earns (taxation) and spends (expenditure) money. Key topics include Fiscal Policy, types of taxes (Direct and Indirect), the Union Budget, Public Debt, and the concept of Market Failure and how government intervention corrects it.
View Official ICAI SyllabusExam Strategy Tip
Focus on the difference between Revenue and Capital items in the budget. Understand Fiscal Deficit and its implications. Tax-related MCQs are commonly asked.
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