CSU GE T economics
Chapter 3 Union budget
Question 1 No money can be withdrawn from Consolidated funds without the approval of
a president b prime minister c Parliament d CAG
Answer C
Question 2 Which of the following is not covered under the revenue receipts of government of India
A corporation tax b launched from RBI c income tax d custom duties.
Answer B.
Question 3 all government expenditure is made from Consolidated funds except
A deferred expenditure B Revenue expenditure C exceptional expenditure D capital expenditure
Answer C
Question 4 payment of salaries is covered under which form of government expenditure.
A revenue expenditure b capital expenditure C planned expenditure d planned expenditure.
Answer a
Question 5
Which budget records all the revenue receipts and expenditure? a.capital budget b. cash budget C. Revenue budget D income budget.
Answer C
Question 6
Demand for grants includes A. Revenue, expenditure b capital expenditure c.grants to States and union territories. D. all the above.
Answer d
Question 7
Consider the following statements
1. debt trap means the government borrows to service the debt already contracted 2. the zero base budgeting methodology was taken up for the first time in 2001 in the union budget. 3. The Maharashtra government renamed zero-based budget as development based budget.
A only one and two are correct. B. all the above statements are correct. C. none of the above is correct. D only one is correct.
Answer C
Question 8
Government receipts which neither create assets nor reduce any liability are called. A revenue receipts B Capital receipts C. cash receipts D Financial receipts
Answer A
Question 9
Tax buoyancy is an indicator to measure efficiency and responsiveness of Revenue mobilization in response to
A growth in the gross B increase in working C Increase in tax rates D All the Above
Answer a
Question 10
Consider the following statements 1 Pump priming refers to deficit financing and spending by a government on Public Works in an attempt to revive economic during the recession Counter-cyclical measures
2. the examples of demerit goods include tobacco alcohol Etc. 3.13th Finance commission called the demerit Goods as Sin goods and wants them to be harshly taxed.
a. only three is correct. b.None of the above are correct. c. All the above are correct. d. only one is correct. Answer. c
Question 11 consider the following statements 1. in the budget expenditure shown both as revenue and capital and also plan and non plan 2. plan expenditure relates to maintenance, coisumption and welfare 3. Non Plan expenditure does not create assets a. all the above are correct b. none of the above are correct C. only 1,3are correct d. only 1 is correct. Answer. c
Question 12 Any urgent or unforseen expenses are met from a. demand for grants b. Finance bill C. contingency fund d. public account Answer. c
Question-13 contingency fund is at the disposal of a president b. Prime minister C. parliament d. c C.Governor Answer. a
Question 14 Amount withdrawn from contingency fund need not be restored a. True b . false C. Partly True d. True with some exceptions Answer. b
Question 15 Amount withdrawn from contingency fund requires subsequent approval of parliament. a. True b. false C. partially True d. depends upon the purpose Answer a