ECONOMY MCQS SET 117

ECONOMY MCQS SET 117

1161) Which one of the following is not a recommendation of the 14th Finance commission?
A) Share at states in central Divisible pool is increased from 32% to 42%.
B) Area under forest cover is an important variable in distribution of states share among states.
C) Fiscal discipline is dropped as a variable in distribution of states share among states.
D) Sector specific grant is recommended as in the previous Finance Commissions.
Correct Answer: Sector specific grant is recommended as in the previous Finance Commissions.
   
1162) Ad hoc Treasury Bill system of meeting budget deficit in India was abolished on
A) April 1, 1992
B) April 1, 1994
C) March 31, 1996
D) March 31, 1997
Correct Answer: March 31, 1997
   
1163) Corporation tax is imposed by
A) State Government
B) Central Government
C) Local Government
D) State as well as Central.
Correct Answer: Central Government
   
1164) Which one among the following is not a source of tax revenue for the central government in India?
A) Income tax
B) Customs duties
C) Service tax
D) Motor vehicle tax
Correct Answer: Motor vehicle tax
   
1165) There has been a persistent deficit budget year after year, which of the following actions can be taken by the government to reduce the deficit?
1. Reducing revenue expenditure.
2. Introducing new welfare schemes
3. Rationalising subsidies
4. Expanding industries
A) 1 and 3
B) 2 and 3
C) Only 1
D) 1, 2, 3 and 4
Correct Answer: 1 and 3

1166) Service tax in India was introduced in the year
A) 1994-95
B) 1996-97
C) 1998-99
D) 1991-92
Correct Answer: 1994-95
   
1167) Effective Revenue Deficit was introduced in the Union Budget of
A) 2010-11
B) 2011-12
C) 2009-10
D) 2012-13
Correct Answer: 2012-13
   
1168) Interest payment is an item of
A) Revenue expenditure
B) Capital expenditure
C) Plan expenditure
D) None of the above
Correct Answer: Revenue expenditure
   
1169) Which one of the following cities is identified as the hottest (Le. first ranking) outsourcing destination in the world?
A) Dublin, Ireland
B) Bengaluru, India
C) Makati City, the Philippine
D) Tokyo, Japan
Correct Answer: Bengaluru, India
   
1170) Which one of the following services is included in the services sector of Indian Economy?
A) Transport, storage, and communication
B) Financing, insurance, real estate, and business services
C) Community, social, and personal services
D) All of the above
Correct Answer: All of the above