Answer: Option B. -> Foreign Trade Policy
Answer: (b)Custom duty is a tax on imports imposed on an ad valorem basis, i.e, fixed in the form of a percentage on the value of the commodity imported.

Answer: Option C. -> some ultimate borrower
Answer: (c)
Instruments (certificates) issued by the ultimate borrower are called primary securities. Instruments issued by intermediaries on behalf of the ultimate borrower are called indirect securities.
The market for instruments (also called securities) issued for the first time, is called the primary market.
Primary security is the asset created out of the credit facility extended to the borrower and/or which are directly associated with the business/project of the borrower for which the credit facility has been extended.

Answer: Option B. -> 1, 2 and 3
Answer: (b)

Answer: Option D. -> increase in tax revenue/increase in tax base
Answer: (d)
Buoyancy means the growth/increase in tax collections. This is in line with the GDP growth within the economy, the industry profile and the tax structure administered by the government. Tax buoyancy measures the total response of tax revenues to changes in national income.
Total response takes into account both increases in income and discretionary changes (i.e., tax rates and bases) made by tax authorities in the system. The responsiveness of tax revenues to discretionary changes in the tax rate and in the tax base in relation to the GDP is termed the buoyancy of the tax system.
Therefore, tax buoyancy is a measure of both the soundness of the tax bases and the effectiveness of tax changes in terms of revenue collection. Tax elasticity, on the other hand, measures the pure response of tax revenues to changes in the national income.

Answer: Option A. -> 1 only
Answer: (a)Income tax is a progressive tax as it has exemptions for very small incomes, low rates for the first slab of taxable income, and higher rates for the largest incomes

Answer: Option D. -> Revenue receipts minus ex-penditure
Answer: (d)

Answer: Option D. -> 1, 2 and 3
Answer: (d)Financial inclusion in India includes initiative of scheduled commercial banks, formation of RRB and adoption of village by bank branches.

Answer: Option C. -> Reduction of consumption consequent to a rise in prices
Answer: (c)
Forced saving is an economic situation in which consumers spend less than their disposable income, not because they want to save but because the goods they seek are not available or because goods are too expensive.
In a free economy, this situation would normally result in an increase in prices and the inflow of more goods.

Answer: Option B. -> 1 and 2
Answer: (b)

Answer: Option A. -> voluntary retirement
Answer: (a)
The voluntary retirement scheme (VRS) is the most humane technique to provide an overall reduction in the existing strength of the employees. It is a technique used by companies for trimming the workforce employed in the industrial unit.
It is also known as the ‘Golden Handshake’ as it is the golden route to retrenchment.