Consider the following statements about capital goods.
1. They are mainly machineries and equipments
2. They are used for the production of intermediate goods.
3. They are used for the production of consumer goods.
4. They are part of an economy’s fixed capital formation
Consider the following items:
1. Finished goods
2. Raw materials
3.Work in progress
4. Sold products
Of these, inventories are:
In the case of criterion adopted by the Fifteenth Finance Commission for horizontal transfer of central taxes, ‘tax effort’ implies:
Consider the following criterion regarding horizontal transfer from the centre to the states.
1. Forest and Ecology
2. Demographic Performance
3. Tax Effort
4. Fiscal Discipline
Which of these criteria have been newly included by the Fifteenth Finance Commission vis a vis the previous finance commission in its recommendation for horizontal transfer?