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Public Finance & Finance Commission

13 questions in Indian Polity.

Asked in 2024, 2020, 2015, 2011, 2010, 2003, 2002, 2000, 1999, 1995

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 No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India. 3.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

2003 · Q73Indian PolityPublic Finance & Finance Commissionmoderate

Consider the following statements: The function(s) of the Finance Commission is/are 1. To allow the withdrawal of money out of the Consolidated Fund of India. 2. To allocate between the States the shares of proceeds of taxes. 3. To consider applications for grants-in-aid from States. 4. To supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions. Which of these statements is/are correct?

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

1999 · Q18Indian PolityPublic Finance & Finance Commissioneasy

Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct?

  1. (a)The Union levies, collects and distributes the proceeds of income tax between itself and the States
  2. (b)The Union levies, collects and keeps all the proceeds of income tax to itself
  3. (c)The Union levies and collects the tax but all the proceeds are distributed among the States
  4. (d)Only the surcharge levied on income tax is shared between the Union and the States
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Official answer(a) The Union levies, collects and distributes the proceeds of income tax between itself and the States