1. Which of the following is not the objective of Indian Budget?
I. To managed and proper distribution of resources
II. To reduce inequalities in income and wealth
III. To achieve social stability
Code:
I. To managed and proper distribution of resources
II. To reduce inequalities in income and wealth
III. To achieve social stability
Code:
- Only II
- Only III
- Only I
- I, II & III
-
View Answer
Answer: Option B
2. Which of the following is the most likely to cause current account deficit in India?
I. Reduced excise duties on Sports Utility Vehicles
II. Reduced duties on Gold
III. Ban on export of Onions
Code:
I. Reduced excise duties on Sports Utility Vehicles
II. Reduced duties on Gold
III. Ban on export of Onions
Code:
- I, II & III
- Only I & III
- Both II & III
- Both I & II
-
View Answer
Answer: Option A
3. Examine the following statement (s) in the context of Zero Based Budgeting (ZBB).
I. It was first taken up in India in the Union Budget 1987
II. It is based on prioritizing all governing expenditure
III. There is a cost benefit analysis of all schemes and the most important ones are kept alive if they are working well.
Which of the following statement (s) given above are correct?
I. It was first taken up in India in the Union Budget 1987
II. It is based on prioritizing all governing expenditure
III. There is a cost benefit analysis of all schemes and the most important ones are kept alive if they are working well.
Which of the following statement (s) given above are correct?
- I and II
- II and III
- I and III
- All of these
-
View Answer
Answer: Option A
4. What is the difference between ‘vote-on account’ and ‘interim budget’?
I. The provision of a vote-on-account is used by a regular government, while interim budget is provision used by a caretaker government.
II. A vote-on-account only deals with the expenditure in government’s budget while an interim budget include both expenditure and receipts
Which of the following statement (s) given above are correct?
I. The provision of a vote-on-account is used by a regular government, while interim budget is provision used by a caretaker government.
II. A vote-on-account only deals with the expenditure in government’s budget while an interim budget include both expenditure and receipts
Which of the following statement (s) given above are correct?
- Only I
- Only II
- Neither I nor II
- Both I and II
-
View Answer
Answer: Option D
5. With reference to Indian Public Finance, consider the following statements (s).
I. Disbursement from Public Account of India are subject to the Vote of Parliament.
II. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.
III. Appropriations and disbursements under the Railways Budget are subject to the same form of parliamentary control as other appropriations and disbursement.
Which of these statements are correct?
I. Disbursement from Public Account of India are subject to the Vote of Parliament.
II. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.
III. Appropriations and disbursements under the Railways Budget are subject to the same form of parliamentary control as other appropriations and disbursement.
Which of these statements are correct?
- II and III
- I and III
- I, II and III
- I and II
-
View Answer
Answer: Option A
6. The authorization for the withdrawal of funds from the consolidated Fund of India must come from:
- The Parliament of India
- The President of India
- The Prime Minister of India
- The Union Finance Minister
-
View Answer
Answer: Option A
7. When annual budget is passed by the Lok Sabha__________.
- the Budget is referred to the Rajya Sabha for suggestions
- the Budget is modified and presented again
- the Prime Minister submits the resignation of Council of Ministers
- the Union Finance Minister is asked to resign
-
View Answer
Answer: Option C
8. The Vote on Account is passed:
- After the general discussion
- Either after the voting of the demands or after the general discussion.
- Before the general discussion
- After the voting of demands
-
View Answer
Answer: Option A
9. Arrange the following stages in the enactment of budget in proper order:
I. General discussion
II. Appropriation Bill
III. Finance Bill
IV. Voting of the demands for grant
V. Presentation to legislature
I. General discussion
II. Appropriation Bill
III. Finance Bill
IV. Voting of the demands for grant
V. Presentation to legislature
- I, II, III, IV, V
- V, I, III, IV, II
- V, I, IV, III, II
- V, I, II, III
-
View Answer
Answer: Option D
10. Which of the following documents are presented to the legislature along with the budget?
I. An explanatory memorandum on the budget
II. A summary of demands for grants
III. An Appropriation Bill
IV. A Finance Bill
V. The economic survey
Code:
I. An explanatory memorandum on the budget
II. A summary of demands for grants
III. An Appropriation Bill
IV. A Finance Bill
V. The economic survey
Code:
- I, III and V
- I, II and III
- I, II, III and IV
- II, III and V
-
View Answer
Answer: Option C
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