{"id":857,"date":"2023-06-15T17:28:24","date_gmt":"2023-06-15T11:58:24","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=857"},"modified":"2023-06-19T13:30:47","modified_gmt":"2023-06-19T08:00:47","slug":"fiscal-policy-public-finance-and-monetary-policy","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/fiscal-policy-public-finance-and-monetary-policy\/","title":{"rendered":"Fiscal Policy Public Finance And Monetary Policy &#8211; Indian Economy GK MCQ"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/fiscal-policy-public-finance-and-monetary-policy\/#Fiscal_Policy_Public_Finance_And_Monetary_Policy_%E2%80%93_Indian_Economy_GK_MCQ_%E0%A4%B0%E0%A4%BE%E0%A4%9C%E0%A4%95%E0%A5%8B%E0%A4%B7%E0%A5%80%E0%A4%AF_%E0%A4%A8%E0%A5%80%E0%A4%A4%E0%A4%BF_%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%B5%E0%A4%9C%E0%A4%A8%E0%A4%BF%E0%A4%95_%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4_%E0%A4%94%E0%A4%B0_%E0%A4%AE%E0%A5%8C%E0%A4%A6%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%95_%E0%A4%A8%E0%A5%80%E0%A4%A4%E0%A4%BF\" >Fiscal Policy Public Finance And Monetary Policy &#8211; Indian Economy GK MCQ (\u0930\u093e\u091c\u0915\u094b\u0937\u0940\u092f \u0928\u0940\u0924\u093f \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915 \u0935\u093f\u0924\u094d\u0924 \u0914\u0930 \u092e\u094c\u0926\u094d\u0930\u093f\u0915 \u0928\u0940\u0924\u093f )<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/fiscal-policy-public-finance-and-monetary-policy\/#Fiscal_Policy_Public_Finance_And_Monetary_Policy_%E2%80%93_Indian_Economy_GK_MCQ_%E2%80%93_Previous_Year_Questions\" >Fiscal Policy Public Finance And Monetary Policy &#8211; Indian Economy GK MCQ &#8211; Previous Year Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/fiscal-policy-public-finance-and-monetary-policy\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fiscal_Policy_Public_Finance_And_Monetary_Policy_%E2%80%93_Indian_Economy_GK_MCQ_%E0%A4%B0%E0%A4%BE%E0%A4%9C%E0%A4%95%E0%A5%8B%E0%A4%B7%E0%A5%80%E0%A4%AF_%E0%A4%A8%E0%A5%80%E0%A4%A4%E0%A4%BF_%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%B5%E0%A4%9C%E0%A4%A8%E0%A4%BF%E0%A4%95_%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4_%E0%A4%94%E0%A4%B0_%E0%A4%AE%E0%A5%8C%E0%A4%A6%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%95_%E0%A4%A8%E0%A5%80%E0%A4%A4%E0%A4%BF\"><\/span>Fiscal Policy Public Finance And Monetary Policy &#8211; Indian Economy GK MCQ (\u0930\u093e\u091c\u0915\u094b\u0937\u0940\u092f \u0928\u0940\u0924\u093f \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915 \u0935\u093f\u0924\u094d\u0924 \u0914\u0930 \u092e\u094c\u0926\u094d\u0930\u093f\u0915 \u0928\u0940\u0924\u093f )<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Prepare for competitive exams like UPSC IAS and more with our MCQ page focused on Fiscal Policy, Public Finance, and Monetary Policy. Access a comprehensive collection of multiple-choice questions sourced from previous year papers to deepen your understanding of economic policies, government budgets, and monetary measures.<\/p>\n\n\n\n<p>Brief:<\/p>\n\n\n\n<p>Welcome to our MCQ page dedicated to Fiscal Policy, Public Finance, and Monetary Policy. Whether you are aspiring to crack the UPSC IAS exam or any other competitive examination, this page is designed to help you strengthen your knowledge and excel in your exams. We have curated a diverse range of multiple-choice questions sourced from previous year papers across various sectors, ensuring comprehensive coverage of this crucial topic.<\/p>\n\n\n\n<p>Explore the intricacies of fiscal policy, public finance, and monetary policy through our meticulously crafted MCQs. From government budgeting and taxation to expenditure policies and public debt management, our MCQs encompass the key aspects of managing public finances. By practicing these questions, you will gain a deep understanding of the role of fiscal policy in economic stability and growth.<\/p>\n\n\n\n<p>Our MCQs also cover various aspects of monetary policy, including central banking, interest rates, money supply, inflation targeting, and the management of monetary tools to control economic conditions. By engaging with these questions, you will develop a comprehensive understanding of the role of monetary policy in regulating the economy.<\/p>\n\n\n\n<p>Accessing this comprehensive collection of MCQs will not only expand your knowledge but also equip you with the skills to analyze and answer complex questions related to fiscal policy, public finance, and monetary policy. By familiarizing yourself with the previous year&#8217;s exam papers, you can anticipate the types of questions that may appear in your upcoming exams and improve your overall exam performance.<\/p>\n\n\n\n<p>Prepare yourself to tackle questions on government revenues, public expenditure, budget deficits, fiscal reforms, monetary measures, and their impact on economic growth. Our MCQs will help you develop a strong understanding of fiscal policy, public finance, and monetary policy, ensuring that you approach your exams with confidence and expertise.<\/p>\n\n\n\n<p>Embark on your journey towards exam success today by accessing our MCQ page on Fiscal Policy, Public Finance, and Monetary Policy!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fiscal_Policy_Public_Finance_And_Monetary_Policy_%E2%80%93_Indian_Economy_GK_MCQ_%E2%80%93_Previous_Year_Questions\"><\/span>Fiscal Policy Public Finance And Monetary Policy &#8211; Indian Economy GK MCQ &#8211; Previous Year Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Fiscal Policy in India is formulated by<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66083\"> the Reserve Bank of India<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66083\"> the Securities and Exchange Board of India<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66083\"> the Planning Commission<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66083\"> the Finance Ministry<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Basic infrastructure facilities in Economics are known as :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66086\"> Working capital<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66086\"> Physical capital<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66086\"> Human capital<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66086\">Social overheads capital<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Match columns A and B wherein Column B defines Column A\r\n\r\nColumn A\tColumn B\r\nI. Public Account\ta. Consists of all revenues and loans received by the government\r\nII. Consolidated fund\tb. Comprises of the sum placed at the disposal of the President to meet unforeseen expenditure\r\nIII. Contingency fund\tc. Consists of receipts and payments, which are in form of deposit account with the government, such as provident funds, small savings, etcCodes: I II III<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66089\"> I-c, II-a, III-b<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66089\"> I-a, II-d, III-b<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66089\">I-a, II-b, III-c<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66089\">I-b, II-a, III-c<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Fiscal Policy in India is formulated by<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66091\"> the Finance Ministry<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66091\"> the Planning Commission<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66091\">the Reserve Bank of India<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66091\"> the Securities and Exchange Board of India<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which among the following is \/ are indirect taxes levied by Centre and state?\r\n\r\nExcise\r\nCustom\r\nService tax\r\nProperty tax\r\nIncome tax\r\nChoose the correct option from the codes given below:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66093\">3 and 4<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66093\"> 1, 2 and 3<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66093\">1 and 2<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66093\">1, 2, 3 and 4<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is\/are types of Budget?\r\n\r\nCapital budget\r\nRevenue budget<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66096\"> 1 only<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66096\">2 only<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66096\">1 and 2<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66096\">Neither 1 nor 2<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Match columns A and B wherein column B shows the tax to GDP ratio for a respective year in Column A \r\n\r\nColumn A\tColumn B\r\nI. 1950-51\ta. 10.60 %\r\nII. 2007-08\tb. 6 %\r\nIII. Present\tc. 11.89 %Codes: I II III<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66098\"> I-c, II-a, III-b<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66098\"> I-b, II-c, III-a<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66098\">I-a, II-c, III-b<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66098\"> I-b, II-a, III-b<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">An economy is in equili-brium when<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66102\"> intended investment exceeds intended savings<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66102\">planned consumption exceeds planned investment<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66102\"> planned consumption exceeds planned saving<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66102\">intended investment equals intended investment<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">In which year was Service tax introduced?\r\n\r\n1983-84\r\n1994-95\r\n1967-68\r\n2003-2004<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66104\">1 only<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66104\">3 only<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66104\"> 2 only<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66104\">4 only<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Match the following:\r\n\r\nList\tList II\r\n(Planets)\t(Satellites)\r\n1. Fiscal deficit\tA. Excess of total expenditure over total receipts less borrowing\r\n2. Budget deficit\tB. Excess of total expenditure over total receipts\r\n3. Revenue deficit\tC. Excess of revenue expenditure over revenue receipts\r\n4. Primary deficit\tD. Excess of total expenditure over total receipts less borrowings and interest paymentsSelect the answer using the following codes: 1 2 3 4<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66105\"> C A D B<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66105\">A B C D<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66105\">B A C D<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66105\">D A B C<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Consider the following statements Full convertibility of the rupee may mean\r\n\r\nIts free float with the international currencies.\r\nIts direct exchange with any other international currency at any prescribed place inside and outside the country. 3. It acts just like any other international currency.\r\nWhich of these statements are correct?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66106\"> 1 and 2<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66106\"> 2 and 3<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66106\"> 1 and 3<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66106\"> 1, 2 and 3<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one of the following is the correct statement? Service tax is a\/an:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66107\"> direct tax levied by the Central Government.<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66107\"> indirect tax levied by the State Government.<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66107\"> indirect tax levied by the Central Government.<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66107\"> direct tax levied by the State Government.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which among the following taxes is not levied in India:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66108\"> Minimum alternative tax<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66108\">Dividend distribution tax<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66108\"> Capital gains tax<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66108\"> Estate duty<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Interest on public debt is part of<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66109\"> Interest payments by households<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66109\"> Transfer payments by the government<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66109\">Transfer payments by the enterprises<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66109\">National income<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following statements is\/are correct in regards to Revenue budget?\r\n\r\nIt consists of all capital receipts and expenditure such as domestic and foreign loans, loan repayment, foreign and etc\r\nIt consists of all current receipts, such as taxation, dividends of public sector units (PSU\u2019s) and expenditure of the government<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66110\">1 only<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66110\"> 1 and 2<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66110\">2 only<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66110\"> Neither 1 nor 2<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Fiscal responsibility and Budget Management Act was enacted in India in the year<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66111\">2003<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66111\">2002<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66111\"> 2007<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66111\"> 2005<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">If a government budgets for a surplus and there is an unexpected increase in the level of economic activity, which of the following is likely to occur?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66112\">There will be an increase in tax revenues and an increase in the budget surplus<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66112\">There will be a decrease in tax revenues and a decrease in the budget surplus<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66112\">There will be an increase in tax revenues and a decrease in the budget<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66112\"> There will be a decrease in tax revenues and an increase in the budget surplus<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Deficit financing is an instrument of<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66113\">tax policy<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66113\"> credit policy<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66113\"> monetary policy<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66113\">fiscal policy<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following are included in the category of direct tax in India?\r\n\r\nCorporation tax\r\nTax on income\r\nWealth tax\r\nCustoms duty\r\nExcise duty\r\nSelect the correct answer using the codes given below<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66114\"> 1, 2 and 3<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66114\">2 and 3<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66114\">1, 2, 4 and 5<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66114\"> 1, 3, 4 and 5<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">A mixed economy refers to an economic system where<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66115\">No foreign investment is allowed<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66115\">Only the private sector operates under government control<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66115\">The economy functions with foreign collaboration<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66115\"> Both the 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Indian Economy GK MCQ (\u0930\u093e\u091c\u0915\u094b\u0937\u0940\u092f \u0928\u0940\u0924\u093f \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915 \u0935\u093f\u0924\u094d\u0924 \u0914\u0930 \u092e\u094c\u0926\u094d\u0930\u093f\u0915 \u0928\u0940\u0924\u093f ) Prepare for competitive exams like UPSC IAS and more with our MCQ page focused on Fiscal Policy, Public Finance, and Monetary Policy. Access a comprehensive collection of multiple-choice questions sourced from previous year papers to [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[75],"tags":[743,742,744,91,745,740,589,741,590],"class_list":["post-857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-economy","tag-economic-policies","tag-fiscal-policy","tag-government-budgets","tag-mcqs","tag-monetary-measures","tag-monetary-policy","tag-previous-year-papers","tag-public-finance","tag-upsc-ias","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=857"}],"version-history":[{"count":0,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/865"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}