The 'Finance Bill' is a Money Bill and can be introduced only in: MCQ with Answer and Explanation

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The 'Finance Bill' is a Money Bill and can be introduced only in:

A. joint session

B. Rajya Sabha

C. either House

D. Lok Sabha

Answer: Option D

Solution (By JKSSB Mock Tests)

A Money Bill including Finance Bill can be introduced only in Lok Sabha.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Fiscal Dominance' refers to:

A. Only the dominance of monetary policy

B. The absence of any deficit

C. A situation in which fiscal policy constraints force the monetary authority to monetise deficits

D. Complete independence of the central bank

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Correct Answer: Option C

Explanation:
Fiscal dominance occurs when the fiscal authority’s need to finance deficits constrains or dictates the behaviour of the monetary authority, often leading to inflationary monetisation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Bank of Calcutta' was established in which year?

A. 1770

B. 1806

C. 1865

D. 1840

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Correct Answer: Option B

Explanation:
The Bank of Calcutta, later Bank of Bengal, was established in 1806.

This question belongs to: Economy GK Economy Set 1

Question #3

DICGC provides deposit insurance up to which maximum amount per depositor per bank?

A. Rs 5 lakh

B. Rs 10 lakh

C. Rs 1 lakh

D. Rs 2 lakh

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Correct Answer: Option A

Explanation:
DICGC insures deposits up to Rs 5 lakh per depositor per bank.

This question belongs to: Economy GK Economy Set 1

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