Assertion (A) : Wagner's law of public expenditure applicable to Governments

Reason (R) : Government undergoing progress through public sector.

The concept of zero-base budgeting was given by

2017 budget is presented in the parliament on

Identify the assumptions of the theory of fiscal federalism

Economic stability and just distribution of income can be done by federal government 

A federal government can be efficient and effective at solving problems of governments

Allocation of resources can be done effectively by states and local governments

Allocation of resources cannot be done effectively by states and local governments

Select the correct answer using the codes given below.

Assertion (A) : Balance of payment always balance.

Reason (R) : Debit (payments) must always equal credits (receipts) in balance of payment account.

The disequilibrium in balance of payment is of fundamental if it is due to