Indian Economy - Fiscal System

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Question - 1

By which bill the government propose collection of revenue for a year?

  • A Economic Bill
  • B Finance bill
  • C Supplementary bill
  • D None of the above

Question - 2

Which of the following taxes is/are levied by the union and collected and appropriated by the states?

  • A Stamp Duties
  • B Passenger and good tax
  • C estate duty
  • D taxes on news paper

Question - 3

The thirteenth Finance Commission is headed by 

  • A Dr Vijay Kelkar
  • B Dr C Rangarajan
  • C KC Neogi
  • D KC Pant

Question - 4

Which one of the following is the most appropriate method to measure the economic growth of a conntry?

  • A National Income
  • B Net National Produce
  • C Gross Capital Formation
  • D Gross Domestic product

Question - 5

Which one of the following years has been adopted as a base year for estimating national income in India after 2010?

  • A 1999-2000
  • B 2002-2003
  • C 2004-2005
  • D 2008-2009

Question - 6

The standard of living in a country is represented by its

  • A Poverty Ratio
  • B Per Capita Income
  • C National Income
  • D Unemployment Rate

Question - 7

In terms of economy, the visit by foreign nations to witness the XIX Common Wealth Games in India amounted to 

  • A export
  • B import
  • C production
  • D consumption

Question - 8

National income refers to

  • A money value of goods and services produced in a country during a year
  • B money value of stocks and shares of a country during a year
  • C money value of capital goods produced by a country during a year
  • D money value of a consumer goods produced by a country during a year

Question - 9

Consider the following statements about Sinking Fund

1. It is a method of repayment of public debt.

2. It is created by the government out of budgetary revenues every year.

Which of the statements given above is/are correct?

  • A Only 1
  • B Only 2
  • C Both 1 and 2
  • D None of these

Question - 10

Consider the following statements
1. The repo rate is the rate at which other banks borrow from the RBI.
2. A value of 1 for Gini Coefficient in a country implies that there is perfectly equal income for everyone in its population.
which of the statements given above is/are correct?

  • A Only 1
  • B Only 2
  • C Both 1 and 2
  • D Neither 1 nor 2
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