Which of the following is a major source of revenue for the Central Government of India?
A. Only property tax
B. Only state GST
C. Corporation tax, income tax and GST (central share)
D. Only professional tax
Answer: Option C
Solution (By JKSSB Mock Tests)
Major sources of central government revenue include corporation tax, personal income tax, and the central share of GST, along with customs and other duties.
Explanation:
Modern New Keynesian DSGE models used for policy analysis feature optimising households and firms, rational expectations, and some form of nominal rigidity (sticky prices or wages).
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