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2000 · Q10Indian PolityPublic Finance & Finance Commissioneasy

The primary function of the Finance Commission in India is to

  1. (a)distribute revenue between the Centre and the States
  2. (b)prepare the Annual Budget
  3. (c)advise the President on financial matters
  4. (d)allocate funds to various ministries of the Union and State Governments
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Official answer(a) distribute revenue between the Centre and the States

2024 · Q85Indian PolityPublic Finance & Finance Commissionmoderate

With reference to Union Budget, consider the following statements : 1. The Union Finance Minister on behalf of the Prime Minister lays the Annual Financial Statement before both the Houses of Parliament. 2. At the Union level, no demand for a grant can be made except on the recommendation of the President of India. Which of the statements given above is/are correct ?

  1. (a)1 only
  2. (b)2 only
  3. (c)Both 1 and 2
  4. (d)Neither 1 nor 2
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Official answer(c) Both 1 and 2

2020 · Q3Indian PolityPublic Finance & Finance Commissionmoderate

With reference to the funds under Members of Parliament Local Area Development Scheme (MPLADS), which of the following statements are correct ? 1. MPLADS funds must be used to create durable assets like physical infrastructure for health, education, etc. 2. A specified portion of each MP's fund must benefit SC/ST populations. 3. MPLADS funds are sanctioned on yearly basis and the unused funds cannot be carried forward to the next year. 4. The district authority must inspect at least 10% of all works under implementation every year. Select the correct answer using the code given below :

  1. (a)1 and 2 only
  2. (b)3 and 4 only
  3. (c)1, 2 and 3 only
  4. (d)1, 2 and 4 only
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Official answer(d) 1, 2 and 4 only

2015 · Q60Indian PolityPublic Finance & Finance Commissionmoderate

With reference to the Union Government, consider the following statements : 1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to the Parliament. 2. No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India. 3. All the disbursements made from Public Account also need the authorization from the Parliament of India. Which of the statements given above is/are correct?

  1. (a)1 and 2 only
  2. (b)2 and 3 only
  3. (c)2 only
  4. (d)1, 2 and 3
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Official answer(c) 2 only

2011 · Q45Indian PolityPublic Finance & Finance Commissioneasy

With reference to the Finance Commission of India, which of the following statements is correct?

  1. (a)It encourages the inflow of foreign capital for infrastructure development
  2. (b)It facilitates the proper distribution of finances among the Public Sector Undertakings
  3. (c)It ensures transparency in financial administration
  4. (d)None of the statements (a), (b) and (c) given above is correct in this context
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Official answer(b) It facilitates the proper distribution of finances among the Public Sector Undertakings