The 'Finance Bill' is a bill that: MCQ with Answer and Explanation

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The 'Finance Bill' is a bill that:

A. contains taxation proposals of the government

B. deals with foreign policy

C. deals with banking regulation

D. deals only with defence expenditure

Answer: Option A

Solution (By JKSSB Mock Tests)

The Finance Bill contains tax proposals and other financial measures.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Mahatma Gandhi Rural Employment Guarantee Act' was enacted in:

A. 2009

B. 2007

C. 2005

D. 2004

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Correct Answer: Option C

Explanation:
MGNREGA was enacted in 2005.

This question belongs to: Economy GK Economy Set 1

Question #2

Revenue deficit is calculated as:

A. revenue receipts minus revenue expenditure

B. total expenditure minus total receipts

C. fiscal deficit minus primary deficit

D. revenue expenditure minus revenue receipts

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Correct Answer: Option D

Explanation:
Revenue deficit is revenue expenditure minus revenue receipts.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Primary Deficit' indicates:

A. Fiscal deficit including interest payments

B. Revenue deficit excluding interest payments

C. Budgetary deficit only

D. Fiscal deficit excluding interest payments

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Correct Answer: Option D

Explanation:
Primary deficit = Fiscal deficit − Interest payments. It shows the borrowing requirement of the government excluding the interest burden of past debt.

This question belongs to: Economy GK Economy Set 1

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