Grants or advances made by the House to enable the government to carry on until the voting of the demands for grants and passing of the General Appropriation Bill is called :


A) vote on account

B) complementary budget

C) supplementary budget

D) contingency budget

Correct Answer:
A) vote on account


Part of solved Fiscal System questions and answers : General Knowledge >> Economy >> Fiscal System








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1). On account of some national emergency or in order to carry out some secret mission, the government sometimes requires funds but may not give the details of the expenditure estimates. The House grants some lump sum for this called :
A). emergency budget
B). vote of Credit
C). contingency bill
D). supplementary budget
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2). Consider the following statements :
(A) In India since independence the share of the primary sector has been declining while the shares of the secondary and territory sectors have been increasing
(B) This trend shows that Indian economy is passing through the transition from an agricultural to an industrial economy
While one of the following is correct?
A). both A and B are correct
B). both A and B are wrong
C). A is correct, B is wrong
D). A is wrong, B is correct
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3). Which of the following gives a correct picture of the share of various sectors in economic growth in India over the years?
1. Primary sector - stagnant
2. Secondary sector - increasing
3. Territory sector - decreasing
A). 1 and 2
B). 2 and 3
C). 2 only
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4). Which of the following is the basis for determining the national income?
A). Total revenue of the State
B). Net profit earned and expenditure incurred by the State
C). Production of goods and services
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5). Which of the following is not a method of estimating national income?
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B). Value-added method
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6). The national income of India is estimated mainly through :
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B). expenditure method alone
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D). production and income methods
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7). Which of the following are referred to as the developed economies?
A). Countries earning huge industrial profits
B). Countries proficient in trade and export
C). Countries having large per capita income
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8). An advalorem duty is a tax on the basis of :
A). the price of a commodity
B). the value added
C). the advertisement expenditure
D). the unit of the commodity
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9). The budget is presented to the Parliament o :
A). the firlst day of February
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C). the last day of March
D). 1st April
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10). Which of the following is not true about 'vote-on-account'?
A). It is a budget presented in the Parliament to cover the deficit left by the last
budget
B). It does not allow the Government to set for the economic policies of the new
plan which starts from April 1.
C). It prevents the Government from imposing fresh taxes or withdrawing old one
D). This allows the Government to withdraw an amount for a period with the
consent of Parliament.
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