Question No:1

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



Question No:2

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



Question No:3

Which of the following is / are the function / functions of the Finance Commission of India ?

1. Distribution of the taxes which are divisible between the Union and the States
2. To recommend the principles which should govern the grant-in-aid of the revenues of the States out of the Consolidated Fund of India

Select the correct answer using the code given below—

A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2



Question No:4

In which one of the following does the subject of Cooperative Societies fall ?

A. Union List
B. State List
C. Concurrent List
D. Residuary Powers of Union Government



Question No:5

Who is the Chairman of Second Administrative Reforms Commission ?

A. Bimal Jalan
B. Karan Singh
C. M. Veerappa Moily
D. Ahmed Patel



Question No:6

What is the period covered by the recommendation of the 12th Finance Commission?

A. Year 2004 – 2009
B. Year 2005 – 2010
C. Year 2006 – 2011
D. Year 2007-2012



Question No:7

Financial distribution between the Union and the States takes place on the basis of the recommendations of which one of the following?

A. National Development Council
B. Inter-State Council
C. Planning Commission
D. Finance Commission



Question No:8

With reference to the Constitution of India which one of the following pairs is NOT correctly matched ?

Subject— List

A. Stock Exchange : The State List
B. Forest : The Concurrent List
C. Insurance : The Union List
D. Marriage and divorce : The Concurrent List



Question No:9

Recommendations to the President of India on the specific Union-State fiscal relations are made by the :

A. Finance Minister
B. Reserve Bank of India
C. Planning Commission
D. Finance Commission



Question No:10

Who is the Chairman of the 12th Finance Commission ?

A. Prof D.T. Lakadawala
B. Dr. C. Rangrajan
C. Shri Digvijay Singh
D. Shri K. C. Pant



Question No:11

Which of the following subjects lies in the Concurrent List ?

A. Agriculture
B. Education
C. Police
D. Defence



Question No:12

Fiscal Deficit is :

A. Total expenditures -Total receipts
B. Revenue expenditures-Revenue receipts
C. Capital expenditures-Capital receipts-Borrowings
D. Sum of Budget deficit and Government’s market borrowings and liabilities



Question No:13

Which one of the following forms the largest share of deficit in Government of India Budget:

A. Primary deficit
B. Fiscal deficit
C. Revenue deficit
D. Budgetary deficit



Question No:14

For distribution of powers between the Union and the States, the Constitution of India introduces three lists. Which two of the following Articles govern the distribution of powers :

A. Articles 4 and 5
B. Articles 56 and 57
C. Articles 141 and 142
D. Articles 245 and 246



Question No:15

Which one of the following taxes is levied and collected by the Union but distributed between Union and States ?

A. Corporation Tax
B. Tax on income other than on agricultural income
C. Tax on railway fares and freights
D. Customs



Question No:16

The largest item of expenditure in the current account of the Central Government Budget is—

A. Defence Expenditure
B. Subsidies
C. Interest Payments
D. Expenditure on Social Services



Question No:17

13th Finance Commission has been constituted under the Chairmanship of—

A. Y.S.PThorat
B. Montek Singh Ahluwaliya
C. C. Rangrajan
D. Vrjay L. Kelkar



Question No:18

The recommendations of the Sarkaria Commission relate to:

A. Distribution of Revenue
B. Powers and functions of the President of India
C. Membership of Parliament
D. Centre-State relations



Question No:19

The recommendations of the Kelkar Task Force relate to:

A. Trade
B. Banking
C. Foreign Investment
D. Taxes



Question No:20

The Indian Parliament cannot legislate on a subject of State List unless :

1. The President of India directs it to do so.
2. The Rajya Sabha passes a resolution that it necessary to do so in national interest.
3. The Speaker of the Vidhan Sabha certifies that the legislation is necessary
4. There is national emergency

Considering the above statements, select the correct answer from the codes given below :

Codes :

A. 1,2and3
B. 2, 3 and 4
C. l and 2
D. 2 and 4