Banking General Awareness Public Finance Question Bank

done Public Finance (Budget) Total Questions - 25

• question_answer1)
  What is budget?
  A)
  It is a monthly financial statement of estimated receipts and expenditures of the Government of India in a financial year. done clear
  B)
  It is an annual financial statement of estimated expenditures of the Government of India in respect of each financial year. done clear
  C)
  It is quarterly financial statement of estimated receipts of the Government of India in respect of each financial year. done clear
  D)
  It is an annual financial statement of estimated receipts and expenditures of the Government of India in respect of each financial year. done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer2)

  Which of the following is true regarding a budget? (1) Budget is a legal document. (2) It is passed by the legislature (3) It is approved by the President.

  A)
  Only option 1 is correct. done clear
  B)
  Only option 1 & 2 are correct. done clear
  C)
  Only option 2 & 3 are correct. done clear
  D)
  All of these done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer3)

  What were the different types of budget presented in India? (1) The Union Budget is presented to the Parliament in two parts. (2) Railway Budget consists of the detail of Indian Railway. (3) General Budget consists the financial detail of Indian Government.

  A)
  Only option A, B & C is correct. done clear
  B)
  Only option A & B are correct. done clear
  C)
  Only option B & C are correct. done clear
  D)
  Only option A & C are correct. done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer4)

  Which of the following is true regarding the nature and objective of budget? (1) Government Budget is designed for optimal allocation of scarce resources. (2) The main objective of Government financial management is to determine how adequately the financial and resource management responsibilities have been discharged (3) The broad objectives of the Government to be broken down into detailed work plans.

  A)
  Only option B & C is correct. done clear
  B)
  Only option A & B are correct. done clear
  C)
  Only option A, B & C are correct. done clear
  D)
  Only option A & C are correct. done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer5)

  Which of the following is true regarding budget preparation in India? (1) Budget preparation in India is a calculative process between the Ministry of Finance and the spending Ministries. (2) Top down approach with the Ministry of Finance issuing guidelines or communicating instructions to spending Ministries. (3) A bottom-up approach, wherein the spending Ministries plan and present requests for budget allocation.

  A)
  Only option B & C is correct. done clear
  B)
  Only option A, B & C are correct. done clear
  C)
  Only option A & B are correct. done clear
  D)
  Only option A & C are correct. done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer6)
  What are the components of a budget?
  A)
  Annual Financial Statement done clear
  B)
  Finance Bill done clear
  C)
  Appropriation Bill done clear
  D)
  Demands for Grants done clear
  E)
  All of the above done clear
  View Solution play_arrow

• question_answer7)
   

  When is a budget presented in the Lok Sabha? (1) It is presented in accordance with article 204(1) of rules of procedure and conduct of business. (2) The budget is presented in the Lok Sabha on the day as fixed by the president of India (3) Now it is presented at 11 am on the first working day of February.

  A)
  Option A, B & C is correct. done clear
  B)
  Only option B & C are correct. done clear
  C)
  Only option A & B are correct. done clear
  D)
  Only option A & C are correct. done clear
  E)
  None done clear
  View Solution play_arrow

• question_answer8)
  Which of the following is related to budget?
  A)
  Plan expenditure done clear
  B)
  Decided expenditure done clear
  C)
  Undecided expenditure done clear
  D)
  Option a & b are true done clear
  E)
  Options b & c is true done clear
  View Solution play_arrow

• question_answer9)
  Which of the following is included to scheme expenditure?
  A)
  Central plans done clear
  B)
  Centrally sponsored state plans done clear
  C)
  Only option b is true done clear
  D)
  Only option a is true done clear
  E)
  Both a and b is true done clear
  View Solution play_arrow

• question_answer10)
  Which of the following is included to non-scheme expenditure?
  A)
  Interest payments done clear
  B)
  Subsidies done clear
  C)
  wage and salary payments to government employees done clear
  D)
  All of these done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer11)
  Borrowing is included in which of the following account?
  A)
  Current account done clear
  B)
  Saving account done clear
  C)
  Capital account done clear
  D)
  Social account done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer12)
  Article 112 of the Constitution of India is related to:
  A)
  Budget (Annual Financial Statement) done clear
  B)
  Financial Emergency done clear
  C)
  National Emergency done clear
  D)
  State budget done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer13)
  Article 110 of the Constitution of India is related to:
  A)
  Budget done clear
  B)
  Financial Bill done clear
  C)
  Money Bill done clear
  D)
  State budget done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer14)
  Article 117 of the Constitution of India is related to
  A)
  Budget done clear
  B)
  Financial Bill done clear
  C)
  Money Bill done clear
  D)
  State budget done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer15)
  Which of the following is a type of budget?
  A)
  Deficit budget done clear
  B)
  Surplus Budget done clear
  C)
  Balanced budget done clear
  D)
  Interim Budget done clear
  E)
  All of these done clear
  View Solution play_arrow

• question_answer16)
  Which of the following fund is related to article 266(i)?
  A)
  Contingency Fund done clear
  B)
  Consolidated Fund done clear
  C)
  Public Account Fund done clear
  D)
  All of these done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer17)
  Which of the following fund is related to article 266(ii)?
  A)
  Contingency Fund done clear
  B)
  Consolidated Fund done clear
  C)
  Public Account Fund done clear
  D)
  All of these done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer18)
  Which of the following fund is related to article 267?
  A)
  Contingency Fund done clear
  B)
  Consolidated Fund done clear
  C)
  Public Account Fund done clear
  D)
  All of these done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer19)
  What is the amount allocated for Contingency Fund?
  A)
  Rs. 50 crores done clear
  B)
              Rs. 500 crores done clear
  C)
  Rs. 5,000 crores done clear
  D)
  Rs. 50,000 crores done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer20)
  Revenue Deficit is defined as:
  A)
  Total Revenue Expenditure - Total Revenue Receipt done clear
  B)
  Revenue receipt plus Revenue expenditure done clear
  C)
  Revenue receipt minus Capital expenditure done clear
  D)
  Capital receipt minus Revenue expenditure done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer21)
  Fiscal Deficit is defined as:
  A)
  Total Capital receipt minus Revenue expenditure done clear
  B)
  Total Borrowing minus Total expenditure done clear
  C)
  Total Revenue receipt plus Revenue expenditure done clear
  D)
  Total Receipt minus Total expenditure assess done clear
  E)
  Total (non-borrowed) Receipt minus Total expenditure done clear
  View Solution play_arrow

• question_answer22)
  Primary Deficit is defined as:
  A)
  Fiscal Deficit - interest payments done clear
  B)
  Fiscal Deficit - interest payments done clear
  C)
  Fiscal Deficit - Revenue Expenditure done clear
  D)
  Fiscal Deficit - Capital Expenditure done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer23)
  Which of the following Deficit indicates lack of resources to accomplish a decided target for coming year:
  A)
  Revenue Deficit done clear
  B)
  Capital Deficit done clear
  C)
  Primary Deficit done clear
  D)
  Fiscal Deficit done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer24)

  Non-scheme revenue expenditure includes: (1) Interest payments, subsidies (mainly on food and fertilizers). (2) Wage and salary payments to government employees, grants to States and Union Territories governments. (3) Payment for Pensions, police, economic services in various sectors, other general services such as tax collection, social services, and grants to foreign governments.

  A)
  Only option 1 & 3 is correct done clear
  B)
  Only option 2 & 3 are correct done clear
  C)
  Only option 1, 2 & 3 are correct done clear
  D)
  All of the above done clear
  E)
  None of these done clear
  View Solution play_arrow

• question_answer25)

  Non-scheme capital expenditure mainly includes: (1) Defence expenditure (2) Loans to public enterprises and loans to States. (3) Loans to Union Territories and foreign governments.

  A)
  Only option 1 & 3 are correct done clear
  B)
  Only option 2 & 3 are correct done clear
  C)
  Only option 1 & 2 are correct done clear
  D)
  All of the above done clear
  E)
  None of these done clear
  View Solution play_arrow