MCQ Finance Commissions [Central & States] SET 2ALL MCQ For Finance Commissions [Central & States] 1. When is the report submitted by the Finance Commission available in the public domain?After it is presented to Prime Minister After the approval of the PresidentAfter the submission of the report to the President.After the report is tabled in the ParliamentQuestion 1 of 152. As per the recommendations, the State's share in the divisible pool of taxes for FY 2020-21 should be reduced from 42% to39% 40%35%41%Question 2 of 153. Which are the two base years of the population taken by the 15th Finance Commission for the tax calculation for states?1971 2011 1971 and 20011971, 2011Question 3 of 154. Who was the Chairman of the First Finance Commission of India that was appointed in 1951?K.C. NeogyY.V. ReddyK.C. PantK.SanthanamQuestion 4 of 155. The 13th Finance Commission of India, whose Chairman was Vijay Kelkar, had allocated what percentage of central tax revenues were shared by the Center with the states?50%70%32%56%Question 5 of 156. Who was the Chairman of the 13th Finance Commission of India?K.C. NeogyVijay KelkarK.C. PantK.SanthanamQuestion 6 of 157. What is function of Finance Commission ?Recommendations for budgetFinancial grants to vulnerable sectionFinancial cooperation between statesRecommendations on distribution of tax revenues between the Union and the States and amongst the States themselvesQuestion 7 of 158. The 14th Finance Commission used ______ population data, in addition to the 1971 data.Census 1991Census 2001Census 2011Census 1981Question 8 of 159. When was the first Finance Commission constituted ?1951196019611955Question 9 of 1510. What is the 15th Finance Commission report title ?Finance Commission in Health EmergencyFinance Commission in COVID TimesFinance Commission in PandemicFinance Commission in Nature CalamitiesQuestion 10 of 1511. 15th Finance Commission recommendations would be applicable for the period from2020 to 20262021 to 20252020 to 20252021 to 2026Question 11 of 1512. Who conducts public debt operations of the Government of India?The union Ministry of FinanceState Bank of IndiaThe Reserve Bank of IndiaThe controllers of Capital IssuesQuestion 12 of 1513. Who said " The budget need not be a sector affair"?R. VenkatramanC.SubramaniamChintamani DeshmukhPalkhiwalahQuestion 13 of 1514. As per the Union Budget of 2014-15 , the income-tax exemption limit for persons below 65 years of age is3,00,0002,75,0002,50,0002,25,000Question 14 of 1515. Who was the Chairman of the Twelfth Finance Commission?A.M. KhusroMontek SinghC. RangarajanK.C. PantQuestion 15 of 15 Loading...
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