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. either House

C. Rajya Sabha

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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Practice More Economy Set 1 Questions

Question #1

The 'Universal Account Number' is related to which social security scheme?

A. Maternity benefit

B. Pension

C. Insurance

D. EPF

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Correct Answer: Option D

Explanation:
UAN is the universal account number for EPF members.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Invisible Trade' in the balance of payments refers to:

A. Only foreign direct investment

B. Only capital transfers

C. Trade in goods only

D. Trade in services, income and transfers

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Correct Answer: Option D

Explanation:
Invisible trade (or invisibles) includes trade in services (such as tourism, software, transportation), income (interest, dividends) and unilateral transfers.

This question belongs to: Economy GK Economy Set 1

Question #3

The SARFAESI Act, 2002 primarily deals with:

A. bank nationalization

B. payment systems

C. recovery of non-performing assets and securitization

D. microfinance regulation

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Correct Answer: Option C

Explanation:
SARFAESI Act enables banks and financial institutions to recover non-performing assets.

This question belongs to: Economy GK Economy Set 1

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