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Budget & Fiscal Policy

Economics

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77 views6 pages

Budget & Fiscal Policy

Economics

Uploaded by

Nitin Khajuria
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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EB watch on Youruve- team Gyan by Rashid Sir Top 40 MCQ BUDGET & FISCAL POLICY I By:- Rashid Sir Budget is a letter ‘que’ ww daw t (a) The monetary policy of the government/ ‘wear #1 Stew fe ar (b) The commercial policy of the | 5 Government/@en #1 afer tft = (c) Fiscal policy of the government war #t casts at a (d) The money-saving policy of the government/ wen #1 yaaa ie Who among the following is responsible for preparing the Annual Economic Review? aftr anf ser wi oe wl fry Prefers a sh secant #2 (a) Ministry of Planning/atart sare (b) Ministry of Finance/*4a *T== (e) Reserve Bank of India/ seta fea (4) Central Statistical Organization/ #414 aitersa eet Which of the following Article is related to Budget in Constitution of India? freafatea a 8 at w sqeie ora @ afer aa @ defies #? (a) 110 (b) 112 (c) 202 (a) 280 7. Which Department is responsible to prepare Budget of Government of India wre Boon wT wae Ba A fa SH aT FT fasten #2 (a) Department of Revenue/wsea_ fart (b) Department of Financial Services fara Sar fas al (c) Department of Economic Affairs safe attr Farr (d) Department of Expenditure/=4 fas Budget is presented by Union Finance Minister on which day Sita fara shi ga que fing fer oa fem ot (a) First Working day of February/Wad #1 ‘ween ard fea (b) Last Working day of February/Wad #1 sie ard fears (c) First Working day of March /=re #1 Wet var fee (d) Last Working day of March/=rt = aif art fea In India, First Budget is presented by sea ¥ weot wae Pree grt wege farm sre #7 (a) Dada Bhai Naorofi/@er wi “st (0) James Wilson /a8 fae" (c) Lord Rippon /aié fa (a) PC Mahalonobis/“t # aechifae Maximum number of Budget are presented by ase #1 afrecn dem frat ao weg et ort & (a) Manmohan Singh/77e fie (0) P Chidambaram/) Vijaya Laxmi Pandit/fasn mest fsa (c) Sarojini Naidu/wafrtt aq (d) Nirmala Sitharaman/Piet xtarer Who is the first person to present Budget in India after Independence? srr & arg ue Y ase te ee ara wee ea ar 2? (a) PC Mahalonobis/*t = aeci-tfaa (b) JL Nebru/@ ta es (c) RK Shanmugam Chetty /3m¢ 3 wpa St (a) Shyama Prasad Mukherjee erm were yeast Which of the following recommended to separate Railway Budget from General Budget? frafafan a fare fifa 3 ta aoe at om aoe @ ae 5O =F ferwtte ai? (a) Royal Committee/Was sat (b) Ekwarth Committee /waae fafa (c) Gorewala Committee/*ttaren fat (d) British Crown Committee /fafea #154 FAA committee 13, 14 16. 17. (21) Which of the following article is related to Contingency Fund of India? Frefafaa #9 shy a da ura st raferea fafa & waea #7 (a) 266 (1) (b) 266 (2) (c) 267 (4) 2794 All expenses in Budget are done from after approval of Parliament aoe Tah ad dae at gt Sa B faq ort & (a) Public Account Fund/at ‘wa ffir (b) Consolidated Fund/ataa Fate (c) Contingency Fund/srefereat Pt (d) Emergency Pund/sraaera Fatt . Generally Interim Budget is passed by government for: o ‘he we fates: are eam eae fren arat (a) 1 year/1 (b) 6 Month/6 wat (c) 4 Month/4 78 (@) 2 Month/2 wt In Budget Process, how many months expenses approved by parliament without discussion under Vote on Account: woe vie 4, tage S wea wat & fet dae ae atte frat we wr: (a) 1 Month/1 ¥éta1 (b) 2 Month/2 54% (c) 3 Month/3 Ft (4) 4 Month/4 wet Which of the following statement best explains Zero Besed Budgeting? frefafas wer 3 a ae wm omatts aoe st ads caren wel #7 (a) It tales last yaear's actual figuers and adds or subtracts a percentage to optain the current yeae's budget. ue fot att afew ated dot oh ain wi aoe ss eC & fee Se Ew sfawa steam Her #1 © watch on YouTube :- Exam ‘Mohd. Rashid Sir:- B.Com. M.Com, UGC-NET - 2012 in by Rashid Sir 18, 19. (b) It is @ method of budgeting in which all expense must be justifiled for each new period. ae ase tak eet Ft Ue fate ¢ fet wee ag srafiy fer ash eral a sitfeee Falfea fea ara snares état @) (c) It is a practice of suggesting and listing of extimated outcomes of each programmes or schemes designed. /78 | 20 fan fae mg vedas arden a aise} orga atoms #1 gaa 8 ok aa ats Fe sr areas (d) It is a method of calculation the income and expenditure without measuring the underlying performance. /¥ 3fafifta weet 8) ry fu Fe ae she a a EA fafa @1 21 Which of the following are not included in the Capital account of the Budget? wae % Yat wrt ® frfafca A a aha at veftve #2 (a) Disinvestment proceeds/fafrée sift (b) Borrowings from RBI/RBI® ferar a} aren m1 (c) Loans to state goverments /fe™ a (4) Interest paid on loans /35% % fer wa st A country can be said to be trapped in a debt trap if- ‘are frat 2a at am ona A wer gen we sm weet | 22. a {a) It has to follow the conditions imposed by the Intemational Monetary Fund. /#a steep te gra cme ne we wT eR wor vm @ (b) He has to take a loan to pay interesr on the outstanding loan./28 aera #4 aaa & grant & fe seo Sor ET HL (c) Foreign lenders have refused to give him loans or assistance. /fateht Hemera 3 FA aU Real Herre 3] A dan ae feat 2 (@) The World Bank levies a very high rate of interest on outstanding loans as well as new loans. /faea 4a ara 27 THA Fe ar Te sas a agE fire aA HTT a When the interest payment is reduced from the fiscal deficit, the residual is called. a oa ga wh casts ae aa wet feat aT day ate seer #1 (a) Monetary deficit ike (o) Primary deficit wafiee "ret (c) Current account deficit (ae ara 5Tet (a) Revenue deficit 794 Fret ‘The fiscal policy the india uses which of the following tools? cna W aerate sit, frafefaa aretha a farsa wan eed 2? 1, Bank rate/4 = 2, Open market operations /yw WK arat 3. Public debt /Herd #1 4. Public revenue/@a ws Select the correct answer using the code given below. ie eq my ae a vein ae et Tae (a) Land 2 only {b) 2 and 4 only (c) 8and4only — (d) 2,8 and 4 Which one of the following is not a component of Revenue Receipts of the Union Government? frnfefaa 2 @ ah-a aa gear = ae wate wl Hem ei 87 (a) Corporate tax receipts /Fritia a sitet (0) Dividends and profits asia ae = (c) Disinvestment receipts /fatrae vita (4) Interst receipts /7ra viftrat Rashid Sir 113i © watch on YouTube :- Exam Gyan by Rashid Sir ‘Mohd. Rashid Sir:- B.Com. M.Com, UGC.NET - 2012 23, 24. 2s. 26. By:- Rashid Sir When was the Fiscal Responsibility and Budget Management Act passed in India? aaahia saad wd awe war after rea ad da atta fear war (a) 2007 (ce) 2002 (a) 2003, In the case of budget related process in Parliament, the amount of demand is to be reduced to one rupee, is called eg Wasa Wai whoa = fara, a a ate at wast Ue oer wor 2", st we oro é (a) Economic cut motion/ safer meat ea (0) Policy cut motion/aifa wet wera (c} Token cut motion/ae set wera (d} Indicative cut motion/wiatas wet wera Which one of the following is not an objective of the fiscal policy of the Government of India? wre weaR #1 Usaha oi aI Fre Ta at ow wird wet 2? (a) Full employment/q4 ta (b) Price stability "= fear (c} Regulation of inter-state trade sie wee ea Br FT (d) Equitable distribution of wealth and income/¥4 aa 1a = ~arifra faa Which one of the following is not a source of public revenue? Frafatian 38 att wa arate sem ar a eT » (a) Income tax/34 # (b) Public debt/ardatra 1 (c) VAT (Value-Added Tax)/42 (aRa-afila #0 | 31. (a) Subsidy /3@" Which deficit contributes the most to the total budget deficit of the Government of India? wa Fan # wae 3 ge ae a fee ae a ee saftres abrery 22 41) (b) 2005 28. 29. 30. (a) Revenue deficit 794 =1 (b) Budgetary deficit/7é4 "reI (c) Fiscal deficit /wsrattta rer (d) Primary deficit/maftey 5rer By whom does the Indian Parliament examine the budget accounts? are & frarafevara ai ata seca ie fare ere aedt {a) Assessment Committee/aTmer Bftfa (b) Public Accounts Committee /arsatra Sa caffe (c) Committee of Privileges /Fedafirnr afi (a) Accounts Inquiry Review Committee/ frera-farara ae eo afta Which one of the following has been given the highest weightage by the 15th Finance ‘Commission of India while recommending the distribution of income generated from central taxes among the states? frofefar 48 fra ue st aa isa fam sia 3 dda wa at goa ane) uel we aeat wt Heat ara waa Wate a fear #2 (a) Areasdtaea (b) Financial discipline/fata sere (c) Population Fen (a) Income differance/ 314 Ha According to the 15th Finance Commission, out of the distributable resources, the states will get for distribution 1s@ fae arte a agar fae iva Haat a aval # fae @q wre a (a) 41% (b) 42% (c) 47.5% (a) 55% Who was the chairman of 14th Finance Commission? 14a fare aren @ onze ate 8? (a) Amartya Sen/smet (0) C. Rangrajan/@. tres (c) ¥. V. Reddy/ag. at. teat (4) Vimal Jalan/faret sre © watch on YouTube :- Exam in by Rashid Sir ‘Mohd. Rashid Sir:- B.Com. M.Com, UGC.NET - 2012 32. 34. Fiscal policy is related to which of the | 35. following? waetita if a1 eae Frente # a aed #2 (a) The amount of money that banks put into the economy./"si #t 3a ut 8 st ay seid ara 1 (b) Policy relating to levy of taxes and expenditure of Government, /#% =7? sik ves $ aq @ atira “far (c) Policy to control the stock markets. /71% aor a Frais ee wat far (d) Policy regarding the country's relations with the International Monetary Fund./ Sar a inher BRT ata Swede S ae a Which of the following is a part of fiscal policy? 37. Frefafas 4a ata ce waaich fa ar or #2 (a) Production Poliey/#0e7 “ft (b} Tax poliey/#e *fa (c) Foreign Policy fate “tft (a) Interest Rate Policy/=ara_& “fit Normally in India the Finance Commission is appointed every five years. 38. a &a 8 ana 8 wf wa ad ae fae air at Frater art #1 (a) Not to determine the financial position of the States./aal #1 fata fife fruifea we € fou th (b) To determine the financial position of the Central Government. #414 We #1 faa feafa fuifta ea & few a @) (c) To determine the financial resources of the Central Government/##a WHT # faa danm fraifta wea # fen (d) To determine the share of the States in the Union grants and the revenue of the Union /#ta sa sik wa SUR Ta ar an freifta ae # fag Stl 36. 39. Which one of the following is the largest source of tax revenue in India? sora Pret HS at a ee oe STH aT BAR aT ais 2 (a) Income tax/3 (b) Corporation tax/fi (c) Central Bxcise/éta sae UF (d) Customs afar TF The current fiscal deficit of India as per the 2022-23 budget is- 2002-23 ame B egETE A I IL Ta et * (a) 6.4% (b) 6.1% (c) 6.8% (d) 6.9% The largest item of revenue expenditure in the Union Budget is- aa wae 4 ore om at awd at dt (a) Defense Expenditure/tn = (b) Subsidy aE (c) Payment of interest/=7a ster (d) State grants/a-d #1 sige" Which one of the following is not a department of the Ministry of Finance? frefafer 93 aha Ww fea sae aw fers et #2? (a) Expenditure /=74 (b) Revenue /a¥e4 (c) Department of Banking/@fi fas (d) Economic matters/sifie Hr Who among the following determines the fiscal policy in India? sore fea a ata crate otf Prutfes aren & (a) Planning Commission ats sari (b) Finance Commission/fra sit (o) Ministry of Finance /faa "ra (d) Reserve Bank of India/ seta ftord =r By:- Rashid Sir © watch on YouTube :- Exam Gyan by Rashid Sir ‘Mohd. Rashid Sir:- B.Com. M.Com, UGC-NET - 2012 40. The main function of the Finance Commission in India is sare 4 fart say a ee wd (a) To distribute revenue between the center and the states /#x aa wal $ at UHEa #1 faa =o (b) Preparation of annual budget/afiey 44 a act @2ansene {ce} {b) {b) {c) fa) {b) {c) {ce} 10. W 12. 13. 14 15. 16. {c) fa) {c) {b) {c) {b) fa) 0 17. 18, 19, 20. 21. 22. 23. 24 (b) (a) (b) (b) fe) fe) (a) ) 25. 26. 27. 28. 29. 30. 31 32. {e) {b) {c) {b) (a) {a) {c) (b) 33. 34 35. 36. 37. 38. 39. 40. {b) (a) fa) fa) {c) {c) {b) fa) (c) To advise the President on financial matters Ugo #1 farts amet we vee Sr (a) To lay down rules for the various ministries of the Union and the States/ aa ud oat & fate dareral & fer Frat sr fata #eI By:- Rashid Sir 16 © watch on YouTube :- Exam Gyan by Rashid Sir ‘Mohd. Rashid Sir:- B.Com. M.Com, UGC.NET - 2012

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