Public Finance MCQ — 2 Practice Questions with Answers

Explanation

The Controller General of Accounts (CGA) is the apex accounting authority of the Central Government. Its key functions include maintaining sound accounting systems across the Central Government, fiscal analysis and reporting, reconciliation of government cash balances with RBI, and pension disbursement through public sector banks. T.C.A. Kalyani was appointed as the 29th CGA in September 2025.

Explanation

The FHI 2026 report notes that state finances account for roughly one-third of India's general government debt, making state-level fiscal management critical for national economic stability. For Rajasthan, the 'Performer' classification highlights the need for better revenue mobilisation and debt management.