Top 150+ Solved Fiscal System of India MCQ Questions Answer
Q. Railway Budget in India was separated from general budget in :
a. 1924-25
b. 1941-42
c. 1947-48
d. 1950-51
Q. In recent years the capital outlays for the defence service have been:
a. increasing steadily
b. more or less constant
c. going down steeply
d. fluctuating frequently
Q. Which one of the following is the most important item of non-plan expenditure?
a. Interest payment
b. Defence
c. Fertiliser subsidies
d. Loans to public enterprises
Q. Which among the following is true? 1. Decrease in cash reserve ratio injects higher liquidity in the system 2. Higher liquidity in the system may soften interest rates 3. Higher market borrowing by the government leads to rise in interest rates Choose your answer from:
a. 1 and 2
b. 1 and 3
c. 2 and 3
d. 1, 2 and 3
Q. One of the problems in calculating the national income in India correctly is : [Railways 1994]
a. under-er-employment
b. inflation
c. non-monetised consumption
d. low savings
Q. India's progress has been reasonably satisfactory in connection with:
a. growth of per capita income
b. reduction in inequalities
c. reduction of unemployment
d. growth of GNP
Q. Among Indian Economists who had done pioneering work on National Income ?
a. P. N. Dhar
b. Jagdish Bhagwati
c. V. K. R.V. Rao
d. Prof. Shenoi
Q. Who was the chairman of National Income Committee?
a. P. C. Mahalanobis
b. V.K.R.V. Rao
c. D.R. Gadgil
d. A.M. Khusro
Q. The recommendations of the Finance Commission are:
a. binding on the government
b. not binding on the government
c. generally accepted as a matter of convention
d. accepted or rejected by the government according to its convenience
Q. After 1991, the Central Government implemented various far-reaching reforms in thearea of taxation. This was based on the recommendations of the: [CDS 1999]
a. Wanchoo Committee
b. Rajah Chelliah Committee
c. Raj Committee
d. Narsimhan Committee
Q. To know whether the rich are getting richer and the poor getting poorer, it is necessaryto compare; [IAS 1994]
a. the availability of foodgrains among two sets of people, one rich and the other poor, over different periods of time
b. the distribution of income of an identical set of income recipients in different periods of time
c. the wholesale price index over different periods of time for different regions
d. the distribution of income of different sets of income recipients at a point of time
Q. National income of India is compiled by:
a. Finance Commission
b. Indian Statistical Institute
c. National Development Council
d. Central Statistical Organisation
Q. Which one of the following is the correct statements?Service tax is a/an [IAS 2006]
a. direct tax levied by the Central Government
b. indirect tax levied by the Central Government
c. direct tax levied by the State Government
d. indirect tax levied by the State Government
Q. If saving exceeds investment, the national income will :
a. fall
b. rise
c. fluctuate
d. remain constant