FISCAL SYSTEM MCQS SET 11

FISCAL SYSTEM MCQS SET 11

101) Which among the following formulates fiscal policy?
A) RBI
B) Finance Ministry
C) SEBI
D) Planning Commission
Answer: Finance Ministry
    

102) What is the main objective of control of the government expenditure?
A) To ensure that money is used for the purpose for which it is intended.
B) To achieve fair distribution among different services
C) To try to secure full value of the money distributed
D) All the above
Answer: All the above
    

103) Which among the following is the regulatory authority for giving clearance for External
Commercial borrowing?
A) Reserve Bank of India
B) Foreign Investment Promotion Board
C) Securities and Exchange Board of India
D) Foreign Investment Promotion Council
Answer: Reserve Bank of India
    

104) The Zero Base Budgeting in India was first experimented from:
A) April, 1987
B) April, 2000
C) April, 1991
D) None of these
Answer: April, 1987

   
105) The prices at which the government purchases food grains for maintaining the public
distribution system and for building up butler stocks are known as :
A) Minimum Support Prices
B) Procurement Prices
C) Issue Prices
D) Ceiling Prices
Answer: Procurement Prices


106) Under the constitutional arrangement in India a single paisa cannot be spent without
prior approval of which of the following bodies?
A) Parliament
B) Prime Minister's office
C) Planning commission
D) Reserve Bank of India
Answer: Parliament

   
107) Who is the chairman of 14th Finance Commission?
A) C. Rangarajan
B) M.N.Vohra
C) YV Reddy
D) Vijay Kelkar
Answer: YV Reddy

   
108) The South Asian Free Trade Agreement (SAFTA) was introduced With a View of levying how
much customs duty for trading any product within the SAARC zone?
A) 0.05
B) 0.04
C) 0.02
D) No customs duty
Answer: No customs duty

   
109) Balanced Growth' means:
A) growth which brings about a balance between the rich and the poor
B) growth which brings about a balance between the public and private sectors
C) growth which brings about a balance between the traditional and modern sector
D) growth pattern on which simultaneous investments are made in all the sectors of the economy, viz., Agriculture, Industry, Transport, Communication, etc.
Answer: growth pattern on which simultaneous investments are made in all the sectors of the economy, viz., Agriculture, Industry, Transport, Communication, etc.

   
110) Increase in Oil Pool Deficit implies:
A) increasing gap between international and domestic oil prices
B) domestic oil price is comparatively more than international price
C) government's Fiscal Deficit goes up
D) none of these
Answer: increasing gap between international and domestic oil prices