Q: Government imposes taxes to:

A: run the machinery of State

B: uplift of weaker sections

C: check the accumulation of wealth among the rich

D: None of the above



run the machinery of State


Q: If the RBI adopts expansionist open market operations policy, this means that it will:

A: openly announce to the market that it intends to expand credit

B: sell securities in open market

C: offer commercial banks more credit in the open market

D: buy securities from non-government holders



sell securities in open market


Q: Three annual plans were launched between:

A: 1969 to 1972

B: 1986 to 1989

C: 1990 to 1993

D: 1966 to 1969



1966 to 1969


Q: Chairman of the 15th Finance Commission of India-

A: NK Singh

B: YV Reddy

C: Ranghuram Rajan

D: Ramesh Chand



NK Singh


Q: Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

A: National Farmers Commission

B: Commission for Agricultural Costs and Prices

C: Central Statistical organization

D: Department of Agriculture



Commission for Agricultural Costs and Prices


Q: Which of the following is true in respect of Centre-State financial relations ?

A: Amount given by Centre is the only source of income to States

B: States can by-pass Centre while taking foreign loans

C: States can not levy income tax

D: States can claim 100 % share in excise duty on goods produced in the State



States can not levy income tax


Q: Which of the following sector gives the largest income in India ?

A: Trade sector

B: Railway

C: Agriculture

D: Service sector



Service sector


Q: Who prints and supplies the currency notes in India:

A: State Bank of India

B: United Bank of India

C: Reserve Bank of India

D: United Commercial Bank of India



Reserve Bank of India


Q: The qualification for the Chairman and the members of the Finance Commission are specified in:

A: Finance Act of 1951

B: Finance Act of 1952

C: Finance Act of 1950

D: Finance Act of 1953



Finance Act of 1951


Q: Which of the following does not come under the GST in India ?

A: Agricultural products

B: Handicrafts

C: Gems and jewelries

D: Petroleum products



Petroleum products
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