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question_answer1)
The process of budget making after re-evaluating every item of expenditure in every financial year is known as-
A)
Performance Budgeting done
clear
B)
Deficit Budgeting done
clear
C)
Zero Based Budgeting done
clear
D)
Fresh Budgeting done
clear
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question_answer2)
Which of the following is not viewed as a national debt?
A)
Provident Fund done
clear
B)
Life Insurance Policies done
clear
C)
National Saving Certificate done
clear
D)
Long-term Government Bonds done
clear
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question_answer3)
Tarapore Committee submitted its report on "Full Convertibility on Rupee" in-
A)
Current account done
clear
B)
Capital account done
clear
C)
Both in current as well as in capital account done
clear
D)
Special Drawing Rights (SDRs) done
clear
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question_answer4)
CENVAT is related to-
A)
Sales Tax done
clear
B)
Excise Duty done
clear
C)
Custom Duty done
clear
D)
Service Tax done
clear
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question_answer5)
Plan expenditure in India is met by-
A)
Internal debt and other resources done
clear
B)
Assistance from Aid India Club done
clear
C)
Assistance from IMF done
clear
D)
Assistance from OECD countries done
clear
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question_answer6)
High fiscal deficit is cause for concern for any economy. What does it denote?
A)
It is a measure of the borrowing of an economy done
clear
B)
It is total expenditure less total receipts excluding borrowings done
clear
C)
It reflects the decrease in tax collections for the year done
clear
D)
It means the lack of liquidity and earnings for the economy. done
clear
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question_answer7)
With reference to the Finance Commission of India, which of the following statements is correct?
A)
It encourages the inflow of foreign capital for infrastructure development done
clear
B)
It facilitates the proper distribution of finances among the Public Sector Undertakings done
clear
C)
It ensures transparency in financial administration done
clear
D)
None of the statements [a], [b] and [c] given above is correct in his context done
clear
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question_answer8)
Which one at the following is responsible for the preparation and presentation of Union Budget to the Parliament?
A)
Department of Revenue done
clear
B)
Department of Economic Affairs done
clear
C)
Department of Financial Services done
clear
D)
Department of Expenditure done
clear
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question_answer9)
In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?
A)
Service tax done
clear
B)
Personal income tax done
clear
C)
Excise duty done
clear
D)
Corporation tax done
clear
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question_answer10)
Fiscal deficit means:
A)
Total receipts minus expenditure done
clear
B)
Total receipts minus interest payments on external debt done
clear
C)
Revenue receipts minus ex-penditure done
clear
D)
Revenue receipts minus defense expenditure done
clear
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question_answer11)
Value-added tax is
A)
ad valorem tax on domestic final consumption collected at all stages between production and the point of final sale done
clear
B)
ad valorem tax on final consumption collected at manufacturing level done
clear
C)
tax on final consumption collected at the consumption stage done
clear
D)
special tax levied by states on products from other states done
clear
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question_answer12)
States' debt does not include:
A)
loos from State Bank of India done
clear
B)
loans from the Central government done
clear
C)
provident fund done
clear
D)
treasury bills issued to inter-national financial institutions done
clear
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question_answer13)
An instrument of qualitative credit control is
A)
Open market operations done
clear
B)
variable reserve ratio done
clear
C)
Bank rate done
clear
D)
Credit rationing done
clear
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question_answer14)
Budget deficit is:
A)
excess of total expenditure including loans net of lending over revenue receipts done
clear
B)
difference between revenue receipts and revenue expenditure done
clear
C)
difference between all receipts and all expenditure done
clear
D)
fiscal deficit less interest payments done
clear
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question_answer15)
Current account in the Balance of Payment comprise is
A)
difference of total exports and imports in one year done
clear
B)
invisible account like tourism, shipping, insurance, etc. done
clear
C)
transactions like net external assistance, NRI deposits, etc. done
clear
D)
trade balance plus invisible balance done
clear
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question_answer16)
Fiscal stability means that, other things remaining constant
A)
debt-GDP ratio declines over time done
clear
B)
both debt and GDP decrease over time done
clear
C)
debt and GDP increase at the same rate done
clear
D)
debt increases but GDP remains the same done
clear
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question_answer17)
Which is incorrect about convertibility?
A)
Exchange rate should be based on forces of demand and supply. done
clear
B)
Exchange rate should show the strength of the economy. done
clear
C)
Discourage black market transactions. done
clear
D)
RBI would become a direct player. done
clear
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question_answer18)
____is not a non-Plan expenditure?
A)
Interest payment done
clear
B)
Subsidies done
clear
C)
Central assistance for states and UT plans done
clear
D)
Defense expenditure done
clear
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question_answer19)
Which one of the following statements regarding the levying, collecting, and distribution of Income Tax is correct?
A)
The Union levies, collects, and distributes the proceeds of income tax between itself and the states. done
clear
B)
The Union levies, collects, and keeps all the proceeds of income tax itself. done
clear
C)
The Union levies and collects the tax but all the proceeds are distributed among the states done
clear
D)
Only the surcharge levied on income tax is shared between the Union and the states. done
clear
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question_answer20)
The diagram shows a relationship between inflation and unemployment for an economy.
Which of the following policies would move the economy from A to B?
A)
Reduce interest rate and increase income tax rates done
clear
B)
Reduce interest rates and decrease income tax rates done
clear
C)
Increase interest rates and decrease income tax rates done
clear
D)
Increase interest rates and increase Income tax rates done
clear
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question_answer21)
If a government budgets for a surplus and there is an unexpected increase in the level of economic activity, which of the following is likely to occur?
A)
There will be an increase in tax revenues and an increase in the budget surplus done
clear
B)
There will be an increase in tax revenues and a decrease in the budget done
clear
C)
There will be a decrease in tax revenues and an increase in the budget surplus done
clear
D)
There will be a decrease in tax revenues and a decrease in the budget surplus done
clear
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question_answer22)
In India, deficit financing is used for raising resources for
A)
economic development done
clear
B)
redemption of public debt done
clear
C)
adjusting the balance of payments done
clear
D)
reducing the foreign debt done
clear
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question_answer23)
Which one of the following is the correct statement? Service tax is a/an:
A)
direct tax levied by the Central Government. done
clear
B)
indirect tax levied by the Central Government. done
clear
C)
direct tax levied by the State Government. done
clear
D)
indirect tax levied by the State Government. done
clear
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question_answer24)
The banks are required to maintain a certain ratio between their cash in hand and total assets. This is called:
A)
SBR (Statutory Bank Ratio) done
clear
B)
SLR (Statutory Liquid Ratio) done
clear
C)
CBR (Central Liquid Reserve) done
clear
D)
CLR (Central Liquid Reserve) done
clear
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question_answer25)
The sales tax you pay while purchasing a toothpaste is a
A)
tax imposed by the Central Government done
clear
B)
tax imposed by the Central Government but collected by the State Government done
clear
C)
tax imposed by the State Government but collected by the Central Government done
clear
D)
tax imposed and collected by the State Government done
clear
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question_answer26)
According to the provisions of the Fiscal Responsibility and Budget Management Act., 2003 and FRBM Rules, 2004, the Government is under obligation to present three statements before the parliament along with the Annual Budget. Which one of the following is not one of them?
A)
Macroeconomic Framework Statement done
clear
B)
Fiscal Policy Strategy Statement done
clear
C)
Medium-term Fiscal Policy Statement done
clear
D)
Statement showing Short term Fiscal Policy done
clear
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question_answer27)
As per the Economic Survey 2007-2008, which one of the following is the largest source of revenue of the Government of India?
A)
Excise Duty done
clear
B)
Personal income Tax done
clear
C)
Corporation Tax done
clear
D)
Customs Duties done
clear
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question_answer28)
Fiscal Policy in India is formulated by
A)
the Reserve Bank of India done
clear
B)
the Planning Commission done
clear
C)
the Finance Ministry done
clear
D)
the Securities and Exchange Board of India done
clear
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question_answer29)
Corporation tax is imposed by
A)
State Government done
clear
B)
Central Government done
clear
C)
Local Government done
clear
D)
State as well as Central Government done
clear
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question_answer30)
Convertibility of rupee implies [IAS Prelims 2015]
A)
being able to convert rupee notes into gold done
clear
B)
allowing the value of rupee to be fixed by market forces done
clear
C)
freely permitting the conversion of rupee to other currencies and vice versa done
clear
D)
developing an international market for currencies in India done
clear
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question_answer31)
When the Reserve Bank of India reduces the Statutory Liquidity Ratio by 50 basis points, which of the following is likely to happen? [IAS Prelims 2015]
A)
India?s GDP growth rate increases drastically done
clear
B)
Foreign Institutional Investors may bring more capital into our country done
clear
C)
Scheduled Commercial Banks may cut their lending rates done
clear
D)
It may drastically reduce the liquidity to the banking system done
clear
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question_answer32)
Recently, which one of the following currencies has been proposed to be added to the basket of IMF's SDR? [IAS Prelims 2016]
A)
Ruble done
clear
B)
Rand done
clear
C)
Indian Rupee done
clear
D)
Renminbi done
clear
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question_answer33)
After 1947, development and non-development expenditures have increased, the increase in the former being more. Non-development expenditure involves
| 1. interest payments |
| 2. subsidies |
| 3. defence |
| 4. Irrigation |
A)
1 and 2 done
clear
B)
1 only done
clear
C)
1, 2 and 3 done
clear
D)
2, 3 and 4 done
clear
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question_answer34)
Consider the following statements in respect of Financial Commission:
| 1. It is mandatory to appoint a Finance Commission every five years. |
| 2. Finance Commission lays down the principles governing grant-in-aid to states. |
| 3. Finance Minister is the ex-officio Chairperson of the Finance Commission. |
| 4. The award given by the Finance Commission is binding on Central and State governments. |
Which of the above statements are correct?
A)
1, 2, 3 and 4 done
clear
B)
1, 2 and 4 done
clear
C)
1, 2 and 3 done
clear
D)
1, 3 and 4 done
clear
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question_answer35)
Increase in net RBI credit for Central Government represents-
| 1. Budgetary Deficit |
| 2. Revenue Deficit |
| 3. Fiscal Deficit |
| 4. Monetised Deficit |
Choose the right option
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer36)
Which of the following is the main aim of Indian Monetary Policy?
| 1. Control inflationary pressure |
| 2. Boost economic development |
A)
1 only done
clear
B)
2 only done
clear
C)
1 and 2 done
clear
D)
Neither 1 nor 2 done
clear
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question_answer37)
With reference to the Indian Public Finance, consider the following statements.
|
1. External liabilities reported in the Union Budget are based on historical exchange rates.
|
|
2. The continued high borrowing has kept the real interest rates high in the economy.
|
|
3. The upward trend in the ratio of Fiscal Deficit to GDP in recent years has an adverse effect on private investments.
|
|
4. Interest payments is the single largest component of the non-plan revenue expenditure of the Union Government.
|
Which of these statements are correct?
A)
1, 2 and 3 done
clear
B)
1 and 4 done
clear
C)
2, 3 and 4 done
clear
D)
1, 2, 3 and 4 done
clear
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question_answer38)
Which of the following is /are among the noticeable features of the recommendations of the Thirteenth Finance Commission?
| 1. A design for the Goods and Services Tax, and a compensation package linked to adherence to the proposed design. |
| 2. A design for the creation of lakhs of jobs in the next ten years in consonance with India's demographic dividend. |
| 3. Devolution of a specified share of central taxes to local bodies as grants. |
Select the correct answer using the codes given below
A)
1 only done
clear
B)
2 and 3 done
clear
C)
1 and 3 done
clear
D)
1, 2 and 3 done
clear
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question_answer39)
Which statements about indirect taxes in India are true?
| 1. Yield from indirect taxes is more than that from direct taxes. |
| 2. Indirect taxes have grown faster than direct taxes after 1947. |
| 3. Indirect taxes are ultimately paid for by persons who do not actually pay taxes to the government. |
| 4. Increase in indirect taxes is good in a developing country. |
A)
1, 2 and 4 done
clear
B)
1 and 2 done
clear
C)
2 only done
clear
D)
1, 2 and 3 done
clear
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question_answer40)
Which are the pre-requisites required by the Indian economy to implement convertibility of rupee on trade account as suggested by the Rangarajan Committee?
|
1. There should be comfortable foreign exchange resources
|
|
2. Low rate of inflation.
|
|
3. Mechanism by which me government can pass on the changes in the price of imported goods to the consumers
|
|
4. SLR and CRR must below.
|
A)
1 and 2 done
clear
B)
1, 2 and 3 done
clear
C)
1 and 4 done
clear
D)
All of the above done
clear
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question_answer41)
Consider the following statements Full convertibility of the rupee may mean
| 1. Its free float with the international currencies. |
| 2. Its direct exchange with any other international currency at any prescribed place inside and outside the country. |
| 3. It acts just like any other international currency. |
Which of these statements are correct?
A)
1 and 2 done
clear
B)
1 and 3 done
clear
C)
2 and 3 done
clear
D)
1, 2 and 3 done
clear
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question_answer42)
Which of the following is/are type of Budget?
| 1. Capital budget |
| 2. Revenue budget |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
2 only done
clear
D)
Neither 1 nor 2 done
clear
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question_answer43)
Which of the following are among the non-plan expenditures of the Government of India?
| 1. Defence expenditure |
| 2. Subsidies |
| 3. All expenditures linked with the previous plan periods |
| 4. Interest payment |
Codes:
A)
1 and 2 done
clear
B)
1 and 3 done
clear
C)
2 and 4 done
clear
D)
1, 2, 3 and 4 done
clear
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question_answer44)
Consider the following statements:
| The Indian rupee is fully convertible: |
| 1. in respect of Current Account of Balance of payment |
| 2. in respect of Capital Account of Balance of payment |
| 3. into gold |
Which of these statements is/are correct?
A)
1 alone done
clear
B)
3 alone done
clear
C)
1 and 2 done
clear
D)
1, 2 and 3 done
clear
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question_answer45)
With reference to Union Budget, which of the following is/are covered under Non-Plan Expenditure?
| 1. Defence expenditure |
| 2. Interest payments |
| 3. Salaries and pensions |
| 4. Subsidies |
Select the correct answer using the code given below.
A)
1 only done
clear
B)
2 and 3 only done
clear
C)
1, 2, 3 and 4 done
clear
D)
None done
clear
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question_answer46)
Which of the following are included in the category of direct tax in India?
| 1. Corporation tax |
| 2. Tax on income |
| 3. Wealth tax |
| 4. Customs duty |
| 5. Excise duty |
Select the correct answer using the codes given below
A)
1, 2 and 3 done
clear
B)
1, 2, 4 and 5 done
clear
C)
2 and 3 done
clear
D)
1, 3, 4 and 5 done
clear
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question_answer47)
Which of the following refers to mat part of deficit for which the government borrows from the RBI?
| 1. Primary deficit |
| 2. Secondary deficit |
| 3. Regulatory deficit |
| 4. Monetised deficit |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer48)
Which of the following statements is/are correct in terms of Direct and Indirect taxes?
| 1. Excise duty and sales tax are examples of indirect taxes |
| 2. Taxes like income tax and property tax are direct taxes |
| 3. There is no difference between Direct and Indirect tax |
Select the correct answer using the code given below:
A)
1 only done
clear
B)
2 only done
clear
C)
1 and 2 done
clear
D)
1, 2 and 3 done
clear
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question_answer49)
Which of the following refers to the freedom for firms and residents to freely buy into overseas assets?
| 1. Capital Account Consumption |
| 2. Capital Across Convertibility |
| 3. Capital Account Continuity |
| 4. Capital Account Convertibility |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer50)
Which of the following refers to the RBI buying and selling eligible securities to regulate money supply?
| 1. Repo and Reverse Repo |
| 2. Open Market Operations |
| 3. Response and Reverse Repo |
| 4. Relative Market Operations |
A)
1 and 2 done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
1, 2 and 4 done
clear
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question_answer51)
Which of the following is/are the major Objectives of Deficit financing?
| 1. Used as an instrument of economic policy |
| 2. It is used as a tool for meeting financial needs of government |
| 3. Used for the mobilization of surplus, non-utilized and idle resources in the economy |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer52)
Which of the following statements is incorrect in regards to Black money?
| 1. Hawala market has deep roots with this black money |
| 2. It is unaccounted money which is concealed from tax authorities |
| 3. All legal economic activities are dealt with this Black Money |
| 4. It puts an adverse pressure on equitable distribution of wealth and income in the economy |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 4 done
clear
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question_answer53)
Which of the following is the tax imposed on commodities imported into India (import duty) or those exported from India (export duty)?
| 1. Customs duty |
| 2. Central excise duty |
| 3. Incorporate duty |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
2 and 3 done
clear
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question_answer54)
Which among the following statements is incorrect in regards to statutory liquid ratio?
| 1. Statutory liquid ratio refers to the amount that the commercial banks require to maintain in the form of cash, or gold or govt. approved securities before providing credit to the customers |
| 2. Statutory liquid ratio is determined and maintained by RBI in order to control the expansion of bank credit |
| 3. At present, the SLR is 4 % |
| 4. It is determined as percentage total demand and percentage of time liabilities |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
None of the above done
clear
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question_answer55)
Which of the following statements is/are correct in regards to Revenue budget?
| 1. It consists of all capital receipts and expenditure such as domestic and foreign loans loan repayment foreign and etc. |
| 2. It consists of all current receipts such as taxation dividends of public sector units (PSU's) and expenditure of the government |
A)
1 only done
clear
B)
2 only done
clear
C)
1 and 2 done
clear
D)
Neither 1 nor 2 done
clear
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question_answer56)
With reference to 'Central excise duty', which of the following statements is/are correct?
| 1. Commodities on which state governments impose excise duties are exempted from the central excise duty |
| 2. In recent years large number of goods has come under excise duty. Moreover, the rates of these duties have also been increasing |
| 3. Commodities which are produced within the country levied by central excise duty |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer57)
Mobilization of resources and channelizing the same for productive investment is the primary purpose of
| 1. Expenditure |
| 2. VAT |
| 3. Taxation |
| 4. CRR |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
1, 2 and 4 done
clear
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question_answer58)
Which of the following is the process of bridging the gap between the revenue and expenditure?
|
1. Multiple financing
|
|
2. Bridge financing
|
|
3. Accurate financing
|
|
4. Deficit financing
|
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer59)
In which year was Service tax introduced?
| 1. 1983-84 |
| 2. 1994-95 |
| 3. 1967-68 |
| 4. 2003-2004 |
A)
I only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer60)
Which of the following means rates of tax increase for increasing values or volumes on which the tax is levied
| 1. Progressive tax |
| 2. Proportional tax |
| 3. Regressive tax |
| 4. Indirect tax |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
1, 2 and 4 done
clear
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question_answer61)
Which of the following is not a technique of Deficit financing?
| 1. Internal Borrowings |
| 2. Counting Currency |
| 3. Printing Currency |
| 4. External aid and borrowings |
A)
1 only done
clear
B)
2 only done
clear
C)
2 and 3 done
clear
D)
1, 2, 3 and 4 done
clear
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question_answer62)
Where was VAT introduced?
| 1. France |
| 2. USA |
| 3. Australia |
| 4. China |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer63)
Which of the following taxes is the one by which the revenue collected rises proportionally with income?
| 1. Regressive tax |
| 2. Progressive tax |
| 3. Corporate tax |
| 4. Proportional tax |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer64)
Which of the following statements is/are correct with reference to Primary deficit?
| 1. India started using this term since 1997-98 |
| 2. Primary deficit is fiscal deficit minus interest payments |
| 3. It shows the current state of government finances |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer65)
In the context of economic liberalization, which of the following is/are the major themes of the fiscal policy?
| 1. A deliberate move to a regime of reasonable direct tax rates and better administration and enforcement |
| 2. A systematic effort to simplify tax structure and tax laws |
A)
1 only done
clear
B)
2 only done
clear
C)
1 and 2 done
clear
D)
Neither 1 nor 2 done
clear
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question_answer66)
With reference to ?Cash Reserve Ratio?, which of the following statements is/are correct?
| 1. The RBI varies Cash Reserve Ratio to change the liquidity of market |
| 2. CRR is subject to frequent changes as RBI intervenes from time to time to correct monetary or exchange rate imbalances |
| 3. CRR currently is 4% |
| 4. RBI is empowered to fix the CRR at a rate ranging between three per cent and 15 per cent |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2, 3 and 4 done
clear
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question_answer67)
Which of the following statements is incorrect about Repo and Reverse Repo?
|
1. At present, the repo rate is 11.75 %
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2. At present, the reverse repo rate is 5.75 %
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3. Repo rate is the rate at which RBI lends to commercial banks
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4. Reverse Repo is the rate at which RBI borrows from commercial banks
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A)
1 only done
clear
B)
1 and 2 done
clear
C)
1, 3 and 4 done
clear
D)
None of the above done
clear
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question_answer68)
Which of the following is/are the components of Public debt?
| 1. External debt |
| 2. Other internal liabilities |
| 3. Internal debt |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer69)
Choose the correct one from the below expressions
|
1. Fiscal deficit = Budget deficit – Government’s market borrowing and liabilities
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2. Fiscal deficit = Budget deficit + Government's market borrowing and liabilities
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|
3. Fiscal deficit = Revenue expenditure - Budget receipts
|
|
4. Fiscal deficit = Revenue expenditure + Budget receipts
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A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
None of the above done
clear
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question_answer70)
Regressive tax can be defined as
| 1. The one by which the revenue collected rises proportionally with income |
| 2. The rates of tax increase for increasing values or volumes on which the tax is levied |
| 3. The one where the proportion of tax paid falls as income rises |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer71)
Which of the following precautions has to be taken by a country going for foreign aid?
| 1. Keeping foreign aid strings-free |
| 2. Keeping the borrowing level low so that country does not fall in a debt trap |
A)
1 only done
clear
B)
2 only done
clear
C)
Both 1 and 2 done
clear
D)
Neither 1 nor 2 done
clear
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question_answer72)
Which of the following is a type of the Public expenditure in India?
A)
1 only done
clear
B)
2 only done
clear
C)
1 and 2 done
clear
D)
Neither 1 nor 2 done
clear
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question_answer73)
Choose the correct one from the following.
| 1. Revenue deficit = Revenue expenditure - Revenue receipts |
| 2. Revenue deficit = Revenue receipts - Revenue expenditure |
| 3. Revenue deficit = Revenue receipts - Total expenditure |
| 4. Revenue deficit = Revenue expenditure - Total receipts |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2, 3 and 4 done
clear
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question_answer74)
Annual financial statement has to be placed before parliament for every financial year i.e.
| 1. January 1 to December 31 |
| 2. March 31 to April 1 |
| 3. April 1 to March 31 |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
None of the above done
clear
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question_answer75)
Consider the following:
| 1. Market borrowing |
| 2. Treasury bills |
| 3. Special securities issued to RBI |
Which of these is/are components(s) of internal debt?
A)
1 only done
clear
B)
1 and 2 done
clear
C)
2 only done
clear
D)
1, 2 and 3 done
clear
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question_answer76)
Consider the following statements with regard to Statutory Liquidity Ratio (SLR)
| 1. To meet SLR, Commercial banks can use cash only. |
| 2. SLR is maintained by the banks with themselves. |
| 3. SLR restricts the bank?s leverage in pumping more money into the economy |
Which of the statements given above is/are correct?
A)
1, 2 and 3 done
clear
B)
1 and 3 done
clear
C)
2 and 3 done
clear
D)
only 2 done
clear
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question_answer77)
Which among the following is/are the nodal agency for implementing the monetary policy?
| State Bank of India |
| Reserve Bank of India |
| Union Bank |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
2 only done
clear
D)
1, 2 and 3 done
clear
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question_answer78)
Which of the following refers to the set of measures adopted by the central bank?
| 1. Monetary policy |
| 2. GAAR |
| 3. Finance Commission |
| 4. Black Money |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer79)
Which of the following refers to the use by the government of me various instruments such as taxation, expenditure and borrowing in order to achieve the objectives of balanced economic development etc.?
| 1. Annual financial statement |
| 2. Fiscal policy |
| 3. Revenue budget |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer80)
Which among the following is/are the main objective of Monetary Policy?
| 1. Maintenance of domestic price level |
| 2. Reducing the impact of business cycles |
| 3. Stability of external value |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer81)
The highest rate of income tax before 1975 was
| 1. 72.85 |
| 2. 97.25 |
| 3. 46.89 |
| 4. 27.14 |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
3 and 4 done
clear
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question_answer82)
In which of the following years, did govt introduce Minimum Alternate tax on companies?
| 1. 1996 |
| 2. 1949 |
| 3. 1972 |
| 4. 2005 |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer83)
Which of the following has been introduced as a very important component of Direct Tax code with the objective of preventing such deals and transactions?
| 1. General Avoidance Rules |
| 2. General Anti Affect Rules |
| 3. General Anti Avoidance Rules |
| 4. General Arm Affect Rules |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
1, 2 and 4 done
clear
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question_answer84)
Which of the following details can be obtained by Annual financial statement?
| 1. Government forecasts of receipts and payments for the next year |
| 2. An outline of the results of the last financial year compared with the previous budget estimates |
| 3. Proposed changes in taxes and expenditure allocations |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer85)
Excess of total expenditure over total revenues is termed as
| 1. Revenue deficit |
| 2. Fiscal deficit |
| 3. Budget deficit |
| 4. Overall deficit |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer86)
Which of the following may lead 10 a pressure on the government for an upward revision in salaries of government employees?
| 1. Internal Borrowings |
| 2. External aid and borrowings |
| 3. Counting Currency |
| 4. Printing currency |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer87)
Which of the following is the tax on income of the companies?
| 1. Corporation tax |
| 2. Reliable tax |
| 3. Compensatory tax |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer88)
Who among the following appoints a Finance Commission under Article 280 of the Constitution?
| 1. Prime Minister |
| 2. Finance Minister |
| 3. President |
| 4. Public |
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
3 and 4 done
clear
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question_answer89)
Which of the following statements is/are correct as per Article 114(3) of the Constitution?
| 1. No money can be taken out of consolidated fund without the approval of the Rajya Sabha |
| 2. No money can be taken out of consolidated fund without the approval of the Lok Sabha |
| 3. Money can be taken out of consolidated fund without any approval |
Select the correct answer using the code given below:
A)
1 only done
clear
B)
2 only done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
View Solution play_arrow
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question_answer90)
Which of the following statements of the government gives expression to its fiscal policy?
| 1. Annual financial statement |
| 2. Deficit financing |
| 3. Open capital account |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
1, 2 and 3 done
clear
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question_answer91)
Which of the following is the rate at which RBI lends to commercial banks?
| 1. Corporate rate |
| 2. Economy rate |
| 3. Bank rate |
| 4. Growth rate |
A)
1 only done
clear
B)
1 and 2 done
clear
C)
3 only done
clear
D)
4 only done
clear
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question_answer92)
In the context of Indian economy, which of the following is/are the purpose/purposes of 'Statutory Reserve Requirements'? (IAS Prelims 2014)
| 1. To enable the Central Bank to control the amount of advances the banks can create |
| 2. To make the people deposits with banks safe and liquid |
| 3. To prevent the commercial banks from making excessive profits |
| 4. To force the banks to have sufficient vault cash to meet their day-to-day requirements |
Select the correct answer using the code given below.
A)
1 only done
clear
B)
1 and 2 only done
clear
C)
2 and 3 only done
clear
D)
1, 2, 3 and 4 done
clear
View Solution play_arrow
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question_answer93)
With reference to Indian economy, consider the following. [IAS Prelims 2014]
| 1. Bank rate |
| 2. Open market operations |
| 3. Public debt |
| 4. Public revenue |
Which of the above is/are component/ components of Monetary Policy?
A)
1 only done
clear
B)
2, 3 and 4 done
clear
C)
1 and 2 done
clear
D)
1, 3 and 4 done
clear
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question_answer94)
There has been a persistent deficit budget year after year. Which action/actions of the following can be taken by the Government to reduce the deficit? [IAS Prelims 2016]
| 1. Reducing revenue expenditure |
| 2. Introducing new welfare schemes |
| 3. Rationalizing subsidies |
| 4. Reducing import duty |
Select the correct answer using the code given below.
A)
1 only done
clear
B)
2 and 3 only done
clear
C)
1 and 3 only done
clear
D)
1, 2, 3 and 4 done
clear
View Solution play_arrow
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question_answer95)
Which of the following is/are included in the capital budget of the Government of India? (IAS Prelims 2016)
| 1. Expenditure on acquisition of assets like roads, buildings, machinery, etc. |
| 2. Loans received from foreign governments |
| 3. Loans and advances granted to the States and Union Territories |
Select the correct answer using the code given below.
A)
1 only done
clear
B)
2 and 3 only done
clear
C)
1 and 3 only done
clear
D)
1, 2 and 3 done
clear
View Solution play_arrow
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question_answer96)
Which of the following statements about Krishi Kalyan Cess (KKC) is/are correct? (IAS Prelims 2016)
| 1. KKC is calculated in the same way as Service Tax is calculated. |
| 2. The current rate of KKC is 0.50% |
| 3. KKC is similar to the KKS (Krishi Kalyan Surcharge). |
Select the correct answer using the code given below:
A)
1, 2 and 3 done
clear
B)
1 and 2 only done
clear
C)
2 and 3 only done
clear
D)
1 only done
clear
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question_answer97)
DIRECTION: Match List-I with List-II and select the correct answer using the codes given below the lists. Match columns A and B wherein Column B defines Column A
| | Column A | | Column B |
| I. | Public Account | A. | Consists of all revenues and loans received by the government |
| II. | Consolidated | B. | Comprises of the sum placed at the disposal of the president to meet unforeseen expenditure |
| III. | Contingency | C. | Consists of receipts and payments, which are in from of deposit account with the government, such as provident funds, small saving, etc |
A)
I-C, II-A, III-B done
clear
B)
I-A, II-B, III-C done
clear
C)
I-A, II-D, III-B done
clear
D)
I-B, II-A, III-C done
clear
View Solution play_arrow
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question_answer98)
DIRECTIONS: Match List-I with List-II and select the correct answer using the codes given below the lists.
| Match columns A and B wherein column B shows the tax to GDP ratio for respective year in Column-A |
| | Column A | | Column B |
| I. | 1950-51 | A. | 10.60% |
| II. | 2007-08 | B. | 6% |
| III. | Present | C. | 11.89% |
A)
I-C, II-A, III-B done
clear
B)
I-A, II-C, III-B done
clear
C)
I-B, II-C, III-A done
clear
D)
I-B, II-A, III-B done
clear
View Solution play_arrow
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question_answer99)
DIRECTIONS: Match List-I with List-II and select the correct answer using the codes given below the lists. Match columns A and B Column A
| | Column A | | Column B |
| I. | Planned expenditure | A. | 2,21,733 Crores |
| II. | Non-Planned | B. | 4,65,277 Crores expenditure |
| III. | Tax revenue | C. | 13,12,200 Crores |
| IV. | Non-tax revenue | D. | 9,19,842 Crores |
A)
I-C, II-A, III-B, IV-D done
clear
B)
I-B, II-C, III-D, IV-A done
clear
C)
I-A, II-C, III-D, IV-B done
clear
D)
I-D, II-C, III-D, IV-A done
clear
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question_answer100)
DIRECTIONS: Match List-I with List-II and select the correct answer using the codes given below the lists. Match columns A and B wherein Column B defines Column A
| | Column A | | Column B |
| I. | External debt of the | A. | Includes small saving schemes, provident fund, reserve |
| II. | Includes debt | B. | Includes loan from foreign countries and international financial institutions |
| III. | Other internal liabilities | C. | Includes market loans from banks and financial institutions |
A)
I-C, II-A, III-B done
clear
B)
I-B, II-C, III-A done
clear
C)
I-A, II-D, III-B done
clear
D)
I-B, II-A, III-C done
clear
View Solution play_arrow
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question_answer101)
DIRECTIONS: Match List-I with List-II and select the correct answer using the codes given below the lists.
| |
List-I |
|
List-II |
| [A] |
Partial convertibility |
(1) |
Unified exchange rate, applied for export and import of goods only, visible transaction of BoP. |
| [B] |
Convertibility on trade account |
(2) |
Currency can be converted on all accounts. |
| [C] |
Convertibility on trade account |
(3) |
60% of foreign exchange rates and rest at official rate. |
| [D] |
Full convertibility |
(4) |
Full convertibility in all visible and invisible transaction of goods and Services. |
A)
A-1; B-2; C-3; D-4 done
clear
B)
A-3; B-1; C-4; D-2 done
clear
C)
A-4; B-2; C-1; D-3 done
clear
D)
A-1; B-4; C-3; D-2 done
clear
View Solution play_arrow
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question_answer102)
DIRECTIONS: Match List-I with List-II and select the correct answer using the codes given below the lists.
| Match columns A and B wherein Column B defines Column A |
| |
Column A |
|
Column B |
| I. |
Capital expenditure |
A. |
Includes interest payments, subsidies, defence expenditure |
| II. |
Plan expenditure |
B. |
Includes loans to PSUs, states, foreign governments |
| III. |
Revenue expenditure |
C. |
Includes expenditure on central plans such as agriculture, rural development, irrigation, transport, communications, environment and welfare schemes |
A)
I-C, II-A, III-B done
clear
B)
I-B, II-C, III-A done
clear
C)
I-A, II-D, III-B done
clear
D)
I-B, II-A, III-C done
clear
View Solution play_arrow
