(a) The Budget is modified and presented again
(b) The Budget is referred to the Rajya Sabha for suggestions
(c) The Union Finance Minister is asked fo resign
(d) The Prime Minister submits the resignation of Council of Ministers
2. Which one of the following subjects is under the Union List in the Seventh Schedule of the Constitution of India?
(a) Regulation of labour and safety in mines and oil field
(b) Agriculture
(c) Fisheries
(d) Public Health
3. The authorization for the withdrawal of funds from the Consolidated Fund of India must come from :
(a) The President of India
(b) The Parliament of India
(c) The Prime Minister of India
(d) The Union Finance Minister
4. Which one of the following authorities recommends the principles governing the grants-in-aid of the revenues to the states out of the Consolidated Fund of India?
(a) Finance Commission
(b) Inter-State Council
(c) Union Ministry of Finance
(d) Public Accounts Committee
5. Consider the following statements :
The function(s) of the Finance Commission is/are :
1. to allow the withdrawal of the money out of the Consolidated Fund of India.
2. to allocate between the states the shares of proceeds of taxes
3. to consider the application for grants-in-aid from States.
4. to supervise and report on whether the Union and State Governments are levying taxes in accordance with the budgetary provisions
Which of these statements is/are correct ?
(a) only 1
(b) 2 and 3
(c) 3 and 4
(d) 1, 2 and 4
6. When was the wealth tax first introduced in India ?
(a) 1948
(b) 1957
(c) 1976
(d) 1991
7. Under which Article of the Constitution of India can the Indian Parliament make laws under the residuary powers?
(a) Article 248
(b) Article 249
(c) Article 250
(d) Article 251
8. The Finance Commission is constituted under Article _____________ of the Constitution of India.
(a) 275
(b) 280
(c) 282
(d) None of these
9. Fiscal policy refers to :
(a) Agricultural Fertilizer Policy
(b) Rural Credit Policy
(c) Interest Policy
(d) Related to revenue and expenditure policy of the Government
10. Finance Commission is :
(a) An organisation to prepare annual budgets for the Government
(b) An organisation to find out financial resources for financing Five-Year Plans
(c) A constitutional body appointed by the President every five years to review Centre-State financial relationship
(d) A permanent body to supervise Centre-State financial relationship
11. The President of India by order constitutes a Finance Commission every—
(a) third year
(b) fifth year
(c) fifth year or earlier as necessary
(d) seventh year
Ans (c)
12. The entry Public Health and Sanitation is included in the Constitution of India in—
(a) Union List
(b) State List
(c) Concurrent List
(d) None of these
13.Sikkim was made an integral part of India under the—
(a) 36th Amendment
(b) 39th Amendment
(c) 40th Amendment
(d) 42nd Amendment
14.In which year was the State of Jharkhand formed?
(a) 1998
(b) 1999
(c) 2000
(d) 2001
15. Which of the following subjects lies in the concurrent List?
(a) Agriculture
(b) Education
(c) Police
(d) Defense
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