Question

Which of the following statements about the Indian

Q: Answer-Which of the following statements about the Indian budget is incorrect?

All grants to the states or union territories are treated as revenue expenditure even though a portion of these may be used for creation of capital assets.

budget is incorrect?

A Non-tax receipts of the government mainly consist of interest and dividends on investment in addition to fees and other receipts for services rendered by the government.

B Interest payments on debt is part of the revenue expenditure.

C All grants to the state governments and union territories except for use of creation of capital assets are treated as revenue expenditure.

D All grants to the state governments and union territories except for use of creation of capital assets are treated as revenue expenditure.

E All grants to the state governments and union territories except for use of creation of capital assets are treated as revenue expenditure.

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Which of the following statements about the Indian

Solution