Top 150+ Solved Fiscal System of India MCQ Questions Answer
Q. Why has the general budget till recently always been presented at 5 o’ clock in the evening?
a. All countries present their budgets at this time
b. So that there is no time for traders to manipulate the prices
c. It is a convention of official secrecy
d. It is a carry-over from times of British rule when the Budget could be discussed in the British Payment simultaneously
Q. Which of the following would signify scarcity in economics?
a. Production of 100 kg of a certain item instead of the targeted 150 kg
b. Availability of 10 kg of rice against a demand for 15 kg
c. Availability of post-graduates for jobs of typists
d. Quantity supplied remains the same when price changes
Q. The per capita income has been low in India because:
a. of population growth
b. of price rise
c. more people are in rural areas
d. of regional imbalances
Q. The rate of growth of the tertiary sector has been:
a. higher than the overall rate of growth of the net domestic product
b. lower than the overall rate of growth of the net domestic product
c. same as the overall rate of growth of the net domestic product
d. fluctuating when compared to growth of net domestic product
Q. Which among the following formulates fiscal policy?
a. RBI
b. Finance Ministry
c. SEBI
d. Planning Commission
Q. Which among the following is the regulatory authority for giving clearance for External Commercial borrowing?
a. Foreign Investment Promotion Board
b. RBI
c. SEBI
d. Foreign Investment Promotion Council
Q. The Zero Base Budgeting in India was first experimented from:
a. April, 1987
b. April, 2000
c. April, 1991
d. None of these
Q. The prices at which the government purchases food grains for maintaining the public distribution system and for building up buffer stocks are known as :
a. Minimum Support Prices
b. Procurement Prices
c. Issue Prices
d. Ceiling Prices
Q. Who is the chairman of 13th Finance Commission?
a. C. Rangarajan
b. M.N. Vohra
c. Bimal Jalan
d. Vijay Kelkar
Q. 'Balanced Growth' means:
a. growth which brings about a balance between the rich and the poor
b. growth which brings about a balance between the public and private sectors
c. growth which brings about a balance between the traditional and modern sector
d. growth pattern on which simultaneous investments are made in all the sectors of the economy, viz., Agriculture, Industry, Transport, Communication, etc.
Q. Increase in Oil Pool Deficit implies:
a. increasing gap between international and domestic oil prices
b. domestic oil price is comparatively more than international price
c. government's Fiscal Deficit goes up
d. none of these
Q. Dear Money Policy implies:
a. high price level
b. large money supply
c. high production
d. high interest rates
Q. Which of the following is wrongly matched:
a. share market-stock exchange
b. interest rate-fiscal policy
c. export subsidy-fiscal policy
d. general price index-inflation