Conversion of public debt means exchange of

(a)

New bonds for the old ones

(b)

Low interest bonds for higher interest bonds

(c)

Long term bonds for short term bonds

(d)

All the above

The word budget has been derived from the French word "bougette" which means

(a)

A small bag

(b)

An empty box

(c)

A box with papers

(d)

None of the above

Which one of the following deficits does not consider borrowing as a receipt?

(a)

Revenue deficit

(b)

Budgetary deficit

(c)

Fiscal deficit

(d)

Primary deficit

Finance Commission determines

(a)

The finances of Government of India

(b)

The resources transfer to the states

(c)

The resources transfer to the various departments

(d)

None of the above

Consider the following statements and identify the right ones.
(i) The finance commission is appointed by the President
(ii) The tenure of Finance commission is five years

(a)

i only

(b)

ii only

(c)

both

(d)

none