The 'Contingency Fund of India' is held by: MCQ with Answer and Explanation

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The 'Contingency Fund of India' is held by:

A. Prime Minister

B. RBI

C. Finance Minister

D. President

Answer: Option D

Solution (By JKSSB Mock Tests)

The Contingency Fund of India is placed at the disposal of the President.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Estimates Committee' in Parliament examines:

A. CAG reports

B. judicial appointments

C. budget estimates and efficiency of expenditure

D. foreign policy

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Correct Answer: Option C

Explanation:
Estimates Committee examines budget estimates and efficiency of expenditure.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Union Budget' of India is the annual financial statement under:

A. Article 280

B. Article 112

C. Article 110

D. Article 265

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Correct Answer: Option B

Explanation:
Union Budget is the Annual Financial Statement under Article 112.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on fertilizers is:

A. 0%

B. 5%

C. 18%

D. 12%

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Correct Answer: Option B

Explanation:
Fertilizers attract 5% GST.

This question belongs to: Economy GK Economy Set 1

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