MCQ
upsc-p1-current-affairs-economy-budget-survey MCQ - Practice Questions with Answers
Solve 6 upsc-p1-current-affairs-economy-budget-survey questions for RAS/RPSC preparation.
Practice questions
Q1Consider the following statements about institutions of fiscal accountability: 1. The Comptroller and Auditor General audits after expenditure rather than approving grants before spending. 2. The Public Accounts Committee gives prior approval to Budget allocations. 3. The Estimates Committee examines economy and efficiency and may suggest administrative improvements. Which of the statements given above are correct? Select the correct answer using the code given below.
Statements 1 and 3 are correct. The Public Accounts Committee examines appropriation accounts, finance accounts and CAG reports after expenditure; it does not grant prior approval to Budget allocations.
Q2With reference to parliamentary grants and appropriation, consider the following statements: 1. Supplementary, additional and excess grants are covered by Article 115. 2. Vote on account, vote of credit and exceptional grants are covered by Article 116. 3. Article 114 permits withdrawal from the Consolidated Fund of India without appropriation made by law. Which of the statements given above are correct? Select the correct answer using the code given below.
Statements 1 and 2 correctly pair Articles 115 and 116 with their respective grants. Statement 3 reverses Article 114: money cannot be withdrawn from the Consolidated Fund of India except under appropriation made by law.
Q3Consider the following statements about fiscal federal institutions: 1. The Finance Commission under Article 280 recommends distribution of net tax proceeds and principles governing grants-in-aid. 2. The Finance Commission recommends Goods and Services Tax rates under Article 279A. Which one of the following is correct?
Statement 1 correctly states the Finance Commission's role under Article 280. Statement 2 is incorrect because GST recommendations, including rates, belong to the GST Council framework under Article 279A.
Q4Match List I with List II: List I (Institution) (a) Public Accounts Committee (b) Estimates Committee (c) Finance Commission (d) Comptroller and Auditor General List II (Function) 1. Recommends distribution of net tax proceeds and principles of grants-in-aid 2. Examines appropriation accounts, finance accounts and CAG reports 3. Checks legality, regularity, propriety or performance, as applicable 4. Suggests economies or administrative improvements within policy limits Select the correct answer using the code given below.
The Public Accounts Committee examines accounts and CAG reports; the Estimates Committee suggests economies and administrative improvements; the Finance Commission recommends tax distribution and grant principles; and the Comptroller and Auditor General checks legality, regularity, propriety or performance, as applicable. Hence option B is correct.
Q5Match List I with List II: List I (Constitutional provision) (a) Article 266 (b) Article 267 (c) Article 281 (d) Article 279A List II (Subject) 1. Contingency Funds 2. Explanatory memorandum on Finance Commission recommendations laid before Parliament 3. Goods and Services Tax Council 4. Consolidated Funds and Public Accounts Select the correct answer using the code given below.
Article 266 covers Consolidated Funds and Public Accounts; Article 267 enables Contingency Funds; Article 281 concerns the explanatory memorandum on Finance Commission recommendations; and Article 279A establishes the GST Council. Hence option C is correct.
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More questions
6Arrange the following stages of the Union Budget process in their usual chronological order: 1. Departmentally Related Standing Committees examine ministry-wise demands. 2. The Appropriation Bill includes voted grants and charged expenditure. 3. Parliament holds a general discussion on the Budget as a whole. 4. Demands for Grants are voted in Lok Sabha. Select the correct answer using the code given below.