TEST SERIES - 47 (II)

The distribution of finances between Centre and States is done on the recommendation of

• Finance Ministry

• Finance Commission

• Reserve Bank of India

• NABARD

Planning Commission was a

• Statutory body

• Non-statutory body

• Constitutional body

• Autonomous body

When was the wealth tax first introduced in India?

• 1948

• 1957

• 1976

• 1991

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

• Forests - Concurrent List

• Stock Exchange- Concurrent List

• Post Office Saving Bank - Union List

• Public Health - State List

Finance Commission is

• An organisation to prepare annual budgets for the Government

• An organisation to find out financial resources for financing Five Year Plans

• A constitutional body appointed by the President every five years to review Centre-State Financial relationship

• A permanent body to supervise Centre-State financial relationship

The Finance Ministry (Government of India) has introduced the concept of ‘Outcome—Budget’ from 2005. Under this, the monitoring of the outcomes will be the responsibility of

• Union Cabinet

• Planning Commission

• Finance Ministry and Planning Commission jointly

• Ministry of Programme Implementation

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

• Stock Exchange : The State List

• Forest - The Councurrent List

• Insurance - The Union List

• Marriage and Divorce - The Concurrent List

The primary function of the Finance Commission in India is to

• Distribute the revenue between the Centre and the State

• Prepare the Annual Budget

• Advise the President on financial matters

• Allocate funds to various ministries of the Union and State Governments

Which one of the following authorities recommends the principles governing the grants-inaid of the revenues to the states out of the Consolidated Fund of India?

• Finance Commission

• Inter-State Council

• Inter-State Council

• Public Accounts Committee

Which one of the following subjects is under the Union List in the Seventh Schedule of the Constitution of India?

• Regulation of labour and safety in mines and oil fields

• Agriculture

• Fisheries

• Public Health