Public Finance MCQs and Notes

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Public Finance

Vijay Sangwan • 19.12K Points
Tutor I

Q 1. Which of the following is not the rate of tax slab in the Union Budget 2020-21?

(A) 10%

(B) 15%

(D) 40%

Priyanka Tomar • 25.98K Points
Instructor II

Q 2. What is the biggest source of Income for the Central Government in the Union Budget 2020-21?

(A) goods and services tax

(B) corporation tax

(D) borrowings and other liabilities

Vijay Sangwan • 19.12K Points
Tutor I

Q 3. Interim budget is also known as....

(A) mini budget

(B) vote on account

(D) none of these

Gopal Sharma • 28.64K Points
Instructor II

Q 4. Horizontal equity incorporates the notion that

(A) those earnings higher incomes should pay more in taxes

(B) those earnings equal incomes should pay same in taxes

(D) there should be no excess burden created by a tax

Rakesh Kumar • 19.20K Points
Tutor I

Q 5. Who was the Chairman of the Seventh Finance Commission of India?

(A) j. m. shelat

(B) n. k. singh

(D) n. k. singh

Shiva Ram • 21.45K Points
Instructor III

Q 6. Recommendations of first Finance Commission covered which of the following periods?

(A) 1951-56

(B) 952-57

(D) 1954-59

Mohini Yadav • 27.60K Points
Instructor II

Q 7. Which of the following statements is not correct?

(A) the first finance commission was constituted in 1951

(B) chairman of the first finance commission was mr. santhanam

(D) b and c

Praveen Singh • 27.20K Points
Instructor II

Q 8. How many Finance Commissions have been constituted so far?

(A) 12

(B) 13

(D) 15

Ranjeet • 25.13K Points
Instructor II

Q 9. Who establishes the Finance Commission in India?

(A) president

(B) finance minister

(D) governor of reserve bank of india

Vinay • 19K Points
Tutor I

Q 10. The main source of revenue of federal government is:

(A) property taxes

(B) token taxes

(D) sales tax

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Public Finance

Q 1. Which of the following is not the rate of tax slab in the Union Budget 2020-21?

Q 2. What is the biggest source of Income for the Central Government in the Union Budget 2020-21?

Q 3. Interim budget is also known as....

Q 4. Horizontal equity incorporates the notion that

Q 5. Who was the Chairman of the Seventh Finance Commission of India?

Q 6. Recommendations of first Finance Commission covered which of the following periods?

Q 7. Which of the following statements is not correct?

Q 8. How many Finance Commissions have been constituted so far?

Q 9. Who establishes the Finance Commission in India?

Q 10. The main source of revenue of federal government is:

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