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What is the primary role of the Finance Ministry during the budget execution phase?- a)Preparing detailed estimates for all government departments
- b)Enacting the budget by passing it through the legislative process
- c)Vetting and consolidating budget estimates received from departments
- d)Regulating revenue collection and supervising expenditure
Correct answer is option 'D'. Can you explain this answer?
a)
Preparing detailed estimates for all government departments
b)
Enacting the budget by passing it through the legislative process
c)
Vetting and consolidating budget estimates received from departments
d)
Regulating revenue collection and supervising expenditure
|
Valor Academy answered |
The Finance Ministry is primarily responsible for regulating revenue collection and supervising expenditure during the budget execution phase.
What is the purpose of the Estimates Committee in the legislative control of public finance?- a)It prepares the initial budget estimates for government departments.
- b)It ensures that budget estimates are accurately executed.
- c)It examines the budget estimates to ensure they are prepared realistically.
- d)It approves additional resources for new government schemes.
Correct answer is option 'C'. Can you explain this answer?
a)
It prepares the initial budget estimates for government departments.
b)
It ensures that budget estimates are accurately executed.
c)
It examines the budget estimates to ensure they are prepared realistically.
d)
It approves additional resources for new government schemes.
|
Spectrum Coaching Institute answered |
The Estimates Committee plays a role in legislative control by examining the budget estimates to ensure that they are prepared realistically and in line with actual expenditures.
How does the role of the legislature in budget control differ between the USA and Anglo-Saxon countries?- a)The legislature in the USA has greater control over budget amendments.
- b)The legislature in Anglo-Saxon countries has greater control over budget amendments.
- c)The legislature in both the USA and Anglo-Saxon countries has equal control over budget amendments.
- d)The role of the legislature in budget control is the same in all countries.
Correct answer is option 'A'. Can you explain this answer?
a)
The legislature in the USA has greater control over budget amendments.
b)
The legislature in Anglo-Saxon countries has greater control over budget amendments.
c)
The legislature in both the USA and Anglo-Saxon countries has equal control over budget amendments.
d)
The role of the legislature in budget control is the same in all countries.
|
Master Training Institute answered |
In the USA, the legislature (Congress) has greater control over budget amendments compared to Anglo-Saxon countries due to the different systems of checks and balances in place.
Which committee in the Indian Parliament classifies bills submitted by members according to their importance?- a)Estimate Committee
- b)Committee on Public Undertakings
- c)Committee on Private Members' Bills and Resolutions
- d)Committee on Government Assurances
Correct answer is option 'C'. Can you explain this answer?
a)
Estimate Committee
b)
Committee on Public Undertakings
c)
Committee on Private Members' Bills and Resolutions
d)
Committee on Government Assurances
|
Nishanth Goyal answered |
Understanding the Committee on Private Members' Bills and Resolutions
The Committee on Private Members' Bills and Resolutions plays a crucial role in the Indian Parliament by organizing and prioritizing the legislative agenda. Here's a detailed explanation:
Function of the Committee
- The primary function of this committee is to classify and evaluate the Private Members' Bills and resolutions submitted by Members of Parliament (MPs) who are not part of the government.
- It assesses the importance and relevance of these bills and resolutions, determining which ones should be presented for discussion in Parliament.
Importance of Classification
- By classifying bills according to their significance, the committee ensures that essential issues are prioritized, allowing for more efficient legislative proceedings.
- This classification helps in managing the legislative workload and ensures that members’ efforts on significant issues do not go unnoticed.
Composition of the Committee
- The committee is composed of a group of members from both Houses, which enables a diverse perspective on the bills presented.
- The members are usually appointed based on their experience and expertise in legislative matters.
Impact on Legislative Process
- This committee significantly influences the legislative process by filtering out less important bills and recommending those that merit consideration.
- The debates and discussions in Parliament can thus focus on pressing issues, enhancing the overall effectiveness of governance.
In conclusion, the Committee on Private Members' Bills and Resolutions is vital for ensuring that the legislative process remains organized and that significant issues are addressed in the Indian Parliament.
The Committee on Private Members' Bills and Resolutions plays a crucial role in the Indian Parliament by organizing and prioritizing the legislative agenda. Here's a detailed explanation:
Function of the Committee
- The primary function of this committee is to classify and evaluate the Private Members' Bills and resolutions submitted by Members of Parliament (MPs) who are not part of the government.
- It assesses the importance and relevance of these bills and resolutions, determining which ones should be presented for discussion in Parliament.
Importance of Classification
- By classifying bills according to their significance, the committee ensures that essential issues are prioritized, allowing for more efficient legislative proceedings.
- This classification helps in managing the legislative workload and ensures that members’ efforts on significant issues do not go unnoticed.
Composition of the Committee
- The committee is composed of a group of members from both Houses, which enables a diverse perspective on the bills presented.
- The members are usually appointed based on their experience and expertise in legislative matters.
Impact on Legislative Process
- This committee significantly influences the legislative process by filtering out less important bills and recommending those that merit consideration.
- The debates and discussions in Parliament can thus focus on pressing issues, enhancing the overall effectiveness of governance.
In conclusion, the Committee on Private Members' Bills and Resolutions is vital for ensuring that the legislative process remains organized and that significant issues are addressed in the Indian Parliament.
What is the Consolidated Fund used for in government finance?- a)Providing funds for new government schemes
- b)Covering unforeseen expenditures and contingencies
- c)Holding revenue from various sources of income
- d)Making payments for all government expenses
Correct answer is option 'D'. Can you explain this answer?
a)
Providing funds for new government schemes
b)
Covering unforeseen expenditures and contingencies
c)
Holding revenue from various sources of income
d)
Making payments for all government expenses
|
Shounak Desai answered |
Overview of the Consolidated Fund
The Consolidated Fund is a critical component of government finance, serving as the primary account for managing the country's finances.
Purpose of the Consolidated Fund
- The Consolidated Fund is designed to hold all revenues collected by the government, including taxes and non-tax revenues.
- It serves as the main account from which all government expenditures are made.
Key Functions of the Consolidated Fund
- Making Payments for All Government Expenses:
- The fund is utilized for financing various government operations, including salaries of public servants, infrastructure projects, and social welfare schemes.
- All expenditures approved by the parliament are drawn from this fund, ensuring accountability and transparency in government spending.
- Legal Framework:
- According to constitutional provisions, no money can be withdrawn from the Consolidated Fund without parliamentary approval, reinforcing democratic oversight.
Other Options Explained
- Providing Funds for New Government Schemes:
- While the fund supports new schemes, it is not exclusively for this purpose. New schemes may require specific allocations or supplementary grants.
- Covering Unforeseen Expenditures and Contingencies:
- Contingency funds exist for unexpected expenses but are separate from the Consolidated Fund.
- Holding Revenue from Various Sources of Income:
- Although the fund holds revenue, its primary role extends beyond mere collection; it is about financing government operations.
Conclusion
In summary, the Consolidated Fund is essential for making payments for all government expenses, making option 'D' the correct choice. Its role is foundational in ensuring that the government's financial obligations are met in a structured and accountable manner.
The Consolidated Fund is a critical component of government finance, serving as the primary account for managing the country's finances.
Purpose of the Consolidated Fund
- The Consolidated Fund is designed to hold all revenues collected by the government, including taxes and non-tax revenues.
- It serves as the main account from which all government expenditures are made.
Key Functions of the Consolidated Fund
- Making Payments for All Government Expenses:
- The fund is utilized for financing various government operations, including salaries of public servants, infrastructure projects, and social welfare schemes.
- All expenditures approved by the parliament are drawn from this fund, ensuring accountability and transparency in government spending.
- Legal Framework:
- According to constitutional provisions, no money can be withdrawn from the Consolidated Fund without parliamentary approval, reinforcing democratic oversight.
Other Options Explained
- Providing Funds for New Government Schemes:
- While the fund supports new schemes, it is not exclusively for this purpose. New schemes may require specific allocations or supplementary grants.
- Covering Unforeseen Expenditures and Contingencies:
- Contingency funds exist for unexpected expenses but are separate from the Consolidated Fund.
- Holding Revenue from Various Sources of Income:
- Although the fund holds revenue, its primary role extends beyond mere collection; it is about financing government operations.
Conclusion
In summary, the Consolidated Fund is essential for making payments for all government expenses, making option 'D' the correct choice. Its role is foundational in ensuring that the government's financial obligations are met in a structured and accountable manner.
Who is the head of the Drafting Committee of the Indian Constitution?- a)Jawaharlal Nehru
- b)Sardar Patel
- c)B.R. Ambedkar
- d)Rajendra Prasad
Correct answer is option 'C'. Can you explain this answer?
a)
Jawaharlal Nehru
b)
Sardar Patel
c)
B.R. Ambedkar
d)
Rajendra Prasad
|
Lohit Matani answered |
The head of the Drafting Committee of the Indian Constitution was B.R. Ambedkar.
What is the main function of the Public Accounts Committee in the Indian Parliament?- a)Examining annual estimates
- b)Regulating the business of the House
- c)Ensuring regularity and economy in expenditure
- d)Collecting information on bills
Correct answer is option 'C'. Can you explain this answer?
a)
Examining annual estimates
b)
Regulating the business of the House
c)
Ensuring regularity and economy in expenditure
d)
Collecting information on bills
|
|
Shounak Desai answered |
Role of the Public Accounts Committee
The Public Accounts Committee (PAC) plays a vital role in ensuring accountability and transparency in government expenditure. This committee is a crucial part of the parliamentary framework in India.
Main Function: Ensuring Regularity and Economy in Expenditure
- The primary function of the PAC is to examine the accounts of the government and ensure that public funds are utilized efficiently and in accordance with the law.
- It assesses the expenditure incurred by the government and checks whether the funds were spent for the intended purposes.
- By scrutinizing the reports of the Comptroller and Auditor General (CAG), the PAC ensures that taxpayers’ money is not misused or wasted.
Key Responsibilities
- The PAC reviews the Annual Audit Reports submitted by the CAG, focusing on financial irregularities and lapses in the execution of government schemes.
- It recommends measures to improve financial management and enhance accountability within various government departments.
- The committee emphasizes “economy” in expenditure, which means promoting cost-effective spending practices.
Significance of the PAC
- The PAC strengthens democratic governance by holding the executive accountable to the legislature.
- It fosters a culture of financial discipline and responsibility within the government.
- By ensuring transparency, the PAC enhances public trust in governmental financial operations.
In summary, the Public Accounts Committee is pivotal in safeguarding public funds and promoting fiscal responsibility, making it an essential component of parliamentary oversight in India.
The Public Accounts Committee (PAC) plays a vital role in ensuring accountability and transparency in government expenditure. This committee is a crucial part of the parliamentary framework in India.
Main Function: Ensuring Regularity and Economy in Expenditure
- The primary function of the PAC is to examine the accounts of the government and ensure that public funds are utilized efficiently and in accordance with the law.
- It assesses the expenditure incurred by the government and checks whether the funds were spent for the intended purposes.
- By scrutinizing the reports of the Comptroller and Auditor General (CAG), the PAC ensures that taxpayers’ money is not misused or wasted.
Key Responsibilities
- The PAC reviews the Annual Audit Reports submitted by the CAG, focusing on financial irregularities and lapses in the execution of government schemes.
- It recommends measures to improve financial management and enhance accountability within various government departments.
- The committee emphasizes “economy” in expenditure, which means promoting cost-effective spending practices.
Significance of the PAC
- The PAC strengthens democratic governance by holding the executive accountable to the legislature.
- It fosters a culture of financial discipline and responsibility within the government.
- By ensuring transparency, the PAC enhances public trust in governmental financial operations.
In summary, the Public Accounts Committee is pivotal in safeguarding public funds and promoting fiscal responsibility, making it an essential component of parliamentary oversight in India.
What is the maximum strength of the Lok Sabha in the Indian Parliament?- a)550
- b)530
- c)520
- d)560
Correct answer is option 'A'. Can you explain this answer?
a)
550
b)
530
c)
520
d)
560
|
Lakshya Ias answered |
The maximum strength of the Lok Sabha in the Indian Parliament is 550 members.
Which type of committee examines the budget estimates to ensure they are prepared realistically?- a)Public Accounts Committee
- b)Budget Analysis Committee
- c)Estimates Committee
- d)Finance Oversight Committee
Correct answer is option 'C'. Can you explain this answer?
a)
Public Accounts Committee
b)
Budget Analysis Committee
c)
Estimates Committee
d)
Finance Oversight Committee
|
Rhea Kulkarni answered |
Estimates Committee
The Estimates Committee is a type of committee that examines the budget estimates to ensure they are prepared realistically. Here's an explanation of how the Estimates Committee functions:
Role of the Estimates Committee:
- The main role of the Estimates Committee is to examine the estimates included in the budget to ensure that they are based on realistic projections and are in line with the government's policies and priorities.
- The committee reviews the estimates presented by different government departments and ministries to identify any discrepancies or inconsistencies.
- It also looks at the past performance of these departments and assesses whether the proposed budget allocations are sufficient to meet their operational needs.
Functions of the Estimates Committee:
- The Estimates Committee plays a crucial role in ensuring transparency and accountability in the budgetary process.
- It helps in identifying areas where there is a need for greater efficiency or where resources are being underutilized.
- The committee also makes recommendations for improving the budgeting process and enhancing the effectiveness of government spending.
Importance of the Estimates Committee:
- By examining the budget estimates in detail, the Estimates Committee helps in preventing wastage of public funds and ensures that resources are allocated efficiently.
- Its recommendations can lead to better financial management and help in achieving the government's policy objectives.
- Overall, the Estimates Committee plays a vital role in the oversight of government finances and in promoting good governance.
The Estimates Committee is a type of committee that examines the budget estimates to ensure they are prepared realistically. Here's an explanation of how the Estimates Committee functions:
Role of the Estimates Committee:
- The main role of the Estimates Committee is to examine the estimates included in the budget to ensure that they are based on realistic projections and are in line with the government's policies and priorities.
- The committee reviews the estimates presented by different government departments and ministries to identify any discrepancies or inconsistencies.
- It also looks at the past performance of these departments and assesses whether the proposed budget allocations are sufficient to meet their operational needs.
Functions of the Estimates Committee:
- The Estimates Committee plays a crucial role in ensuring transparency and accountability in the budgetary process.
- It helps in identifying areas where there is a need for greater efficiency or where resources are being underutilized.
- The committee also makes recommendations for improving the budgeting process and enhancing the effectiveness of government spending.
Importance of the Estimates Committee:
- By examining the budget estimates in detail, the Estimates Committee helps in preventing wastage of public funds and ensures that resources are allocated efficiently.
- Its recommendations can lead to better financial management and help in achieving the government's policy objectives.
- Overall, the Estimates Committee plays a vital role in the oversight of government finances and in promoting good governance.
In the Indian Parliament, what is the maximum number of members that can be nominated by the President to represent the Anglo-Indian community in the Lok Sabha?- a)One member
- b)Two members
- c)Three members
- d)Four members
Correct answer is option 'B'. Can you explain this answer?
a)
One member
b)
Two members
c)
Three members
d)
Four members
|
Pankaj Pillai answered |
Maximum Number of Anglo-Indian Members in Lok Sabha
The maximum number of members that can be nominated by the President to represent the Anglo-Indian community in the Lok Sabha is two members.
Explanation:
Article 331 of the Indian Constitution
- Article 331 of the Indian Constitution provides for the representation of the Anglo-Indian community in the Lok Sabha.
- According to this article, the President of India can nominate up to two members from the Anglo-Indian community to represent their interests in the Lok Sabha.
Historical Context
- The provision for Anglo-Indian representation in the Lok Sabha was initially introduced to ensure adequate representation for the Anglo-Indian community in the post-independence era.
- Over the years, this provision has been extended periodically through constitutional amendments to continue the representation of the Anglo-Indian community.
Significance
- The representation of the Anglo-Indian community in the Lok Sabha is significant as it ensures the diverse representation of various communities in the Indian Parliament.
- It provides a platform for the Anglo-Indian community to voice their concerns and contribute to the legislative process in the country.
Conclusion
In conclusion, the maximum number of members that can be nominated by the President to represent the Anglo-Indian community in the Lok Sabha is two members. This provision ensures the adequate representation of the Anglo-Indian community in the Indian Parliament, allowing them to participate in the democratic process of the country.
The maximum number of members that can be nominated by the President to represent the Anglo-Indian community in the Lok Sabha is two members.
Explanation:
Article 331 of the Indian Constitution
- Article 331 of the Indian Constitution provides for the representation of the Anglo-Indian community in the Lok Sabha.
- According to this article, the President of India can nominate up to two members from the Anglo-Indian community to represent their interests in the Lok Sabha.
Historical Context
- The provision for Anglo-Indian representation in the Lok Sabha was initially introduced to ensure adequate representation for the Anglo-Indian community in the post-independence era.
- Over the years, this provision has been extended periodically through constitutional amendments to continue the representation of the Anglo-Indian community.
Significance
- The representation of the Anglo-Indian community in the Lok Sabha is significant as it ensures the diverse representation of various communities in the Indian Parliament.
- It provides a platform for the Anglo-Indian community to voice their concerns and contribute to the legislative process in the country.
Conclusion
In conclusion, the maximum number of members that can be nominated by the President to represent the Anglo-Indian community in the Lok Sabha is two members. This provision ensures the adequate representation of the Anglo-Indian community in the Indian Parliament, allowing them to participate in the democratic process of the country.
What type of bill can be introduced only in the Lok Sabha and not in the Rajya Sabha?- a)Ordinary Bill
- b)Money Bill
- c)Constitutional Amendment Bill
- d)Private Member's Bill
Correct answer is option 'B'. Can you explain this answer?
a)
Ordinary Bill
b)
Money Bill
c)
Constitutional Amendment Bill
d)
Private Member's Bill
|
BT Educators answered |
A Money Bill can be introduced only in the Lok Sabha, and it deals with matters related to taxation, borrowing, and expenditure.
Which article of the Indian Constitution defines the composition of the Parliament of the Union?- a)Article 80
- b)Article 79
- c)Article 81
- d)Article 82
Correct answer is option 'B'. Can you explain this answer?
a)
Article 80
b)
Article 79
c)
Article 81
d)
Article 82
|
Hridoy Pillai answered |
Article 79 of the Indian Constitution
Article 79 of the Indian Constitution defines the composition of the Parliament of the Union. The Parliament of India consists of the President and two Houses - the Council of States (Rajya Sabha) and the House of the People (Lok Sabha).
Composition of Parliament
- The President of India
- Rajya Sabha (Council of States)
- Lok Sabha (House of the People)
The President of India
- The President is the head of the Indian State.
- The President's role in the Parliament is limited to the summoning and proroguing of the Houses.
- The President also addresses both Houses assembled together.
Rajya Sabha (Council of States)
- The Rajya Sabha is the upper house of Parliament.
- It represents the states and union territories of India.
- Members of the Rajya Sabha are elected by the elected members of the State Legislative Assemblies.
Lok Sabha (House of the People)
- The Lok Sabha is the lower house of Parliament.
- Members of the Lok Sabha are directly elected by the people of India.
- The Lok Sabha is responsible for making laws, controlling the executive, and representing the people.
Conclusion
In conclusion, Article 79 of the Indian Constitution plays a crucial role in defining the composition of the Parliament of the Union. It outlines the structure of Parliament, which includes the President, Rajya Sabha, and Lok Sabha, each with its own specific functions and responsibilities. This ensures a balanced and representative system of governance in India.
Article 79 of the Indian Constitution defines the composition of the Parliament of the Union. The Parliament of India consists of the President and two Houses - the Council of States (Rajya Sabha) and the House of the People (Lok Sabha).
Composition of Parliament
- The President of India
- Rajya Sabha (Council of States)
- Lok Sabha (House of the People)
The President of India
- The President is the head of the Indian State.
- The President's role in the Parliament is limited to the summoning and proroguing of the Houses.
- The President also addresses both Houses assembled together.
Rajya Sabha (Council of States)
- The Rajya Sabha is the upper house of Parliament.
- It represents the states and union territories of India.
- Members of the Rajya Sabha are elected by the elected members of the State Legislative Assemblies.
Lok Sabha (House of the People)
- The Lok Sabha is the lower house of Parliament.
- Members of the Lok Sabha are directly elected by the people of India.
- The Lok Sabha is responsible for making laws, controlling the executive, and representing the people.
Conclusion
In conclusion, Article 79 of the Indian Constitution plays a crucial role in defining the composition of the Parliament of the Union. It outlines the structure of Parliament, which includes the President, Rajya Sabha, and Lok Sabha, each with its own specific functions and responsibilities. This ensures a balanced and representative system of governance in India.
In which month does the budget period in India begin and end?- a)January to December
- b)April to March
- c)July to June
- d)October to September
Correct answer is option 'B'. Can you explain this answer?
a)
January to December
b)
April to March
c)
July to June
d)
October to September
|
|
Lakshya Ias answered |
The budget period in India begins in April and ends in March, which aligns with the financial year of the government.
In India, when does the Railway Budget usually precede the presentation of the General Budget?- a)One month earlier
- b)Two weeks earlier
- c)About a week earlier
- d)Simultaneously
Correct answer is option 'C'. Can you explain this answer?
a)
One month earlier
b)
Two weeks earlier
c)
About a week earlier
d)
Simultaneously
|
T.S Academy answered |
In India, the Railway Budget is usually presented about a week earlier than the General Budget. Both budgets follow similar procedures, but the Railway Budget is presented first.
What are the four different operations involved in the budgetary process?- a)Budget preparation, budget enactment, budget execution, budget auditing
- b)Budget formulation, budget approval, budget implementation, budget review
- c)Budget planning, budget auditing, budget allocation, budget evaluation
- d)Budget estimation, budget approval, budget disbursement, budget assessment
Correct answer is option 'B'. Can you explain this answer?
What are the four different operations involved in the budgetary process?
a)
Budget preparation, budget enactment, budget execution, budget auditing
b)
Budget formulation, budget approval, budget implementation, budget review
c)
Budget planning, budget auditing, budget allocation, budget evaluation
d)
Budget estimation, budget approval, budget disbursement, budget assessment
|
Capstone Ias Learning answered |
These four operations represent the key stages of the budgetary process:
- Budget formulation – The process of creating the budget, including revenue and expenditure estimates.
- Budget approval – Legislative or executive approval of the proposed budget.
- Budget implementation – Executing the approved budget, including revenue collection and expenditure management.
- Budget review – Assessing the effectiveness and efficiency of budget implementation through audits and evaluations
What is the purpose of the Estimates Committee in the legislative process?- a)Finalizing budget estimates
- b)Ensuring tax payer interests
- c)Reviewing budget execution
- d)Examining department budgets realistically
Correct answer is option 'D'. Can you explain this answer?
a)
Finalizing budget estimates
b)
Ensuring tax payer interests
c)
Reviewing budget execution
d)
Examining department budgets realistically
|
|
Lohit Matani answered |
The Estimates Committee of the legislature examines budget estimates of various government departments and ensures that they are prepared realistically compared to actual expenditures. This helps maintain accountability in budget planning.
In India, the financial year of the Government begins on which date?- a)January 1
- b)April 1
- c)July 1
- d)October 1
Correct answer is option 'B'. Can you explain this answer?
a)
January 1
b)
April 1
c)
July 1
d)
October 1
|
|
T.S Academy answered |
In India, the financial year of the Government begins on April 1 and ends on March 31. This time frame is used for budgeting and fiscal planning.
What is the main purpose of the Appropriation Bill in the budget process?- a)It specifies the revenue sources for the government.
- b)It determines the budget deficit for the financial year.
- c)It provides funding for various government programs and expenditures.
- d)It outlines the economic policies of the government.
Correct answer is option 'C'. Can you explain this answer?
a)
It specifies the revenue sources for the government.
b)
It determines the budget deficit for the financial year.
c)
It provides funding for various government programs and expenditures.
d)
It outlines the economic policies of the government.
|
Academic Studio answered |
The Appropriation Bill provides funding for various government programs and expenditures, ensuring that the budget is executed as planned
In the Indian Parliament, which committee examines the working of public undertakings, including their accounts and finances?- a)Estimate Committee
- b)Committee on Subordinate Legislation
- c)Committee on Public Accounts
- d)Committee on Government Assurances
Correct answer is option 'C'. Can you explain this answer?
a)
Estimate Committee
b)
Committee on Subordinate Legislation
c)
Committee on Public Accounts
d)
Committee on Government Assurances
|
|
Master Training Institute answered |
The Committee on Public Accounts examines the working of public undertakings, including their accounts and finances.
What are the four different operations involved in the budgetary process?- a)Preparation, enactment, execution, legislative control
- b)Presentation, discussion, implementation, review
- c)Estimation, approval, implementation, oversight
- d)Formulation, enforcement, analysis, assessment
Correct answer is option 'A'. Can you explain this answer?
a)
Preparation, enactment, execution, legislative control
b)
Presentation, discussion, implementation, review
c)
Estimation, approval, implementation, oversight
d)
Formulation, enforcement, analysis, assessment
|
K.L Institute answered |
The budgetary process involves four distinct operations: preparation of the budget, enactment of the budget, execution of the budget, and legislative control of public finance. These operations ensure a systematic and accountable approach to managing government finances.
What is the purpose of a joint sitting of both Houses of the Indian Parliament?- a)To discuss budget proposals
- b)To resolve deadlock over a Bill
- c)To elect the Speaker of Lok Sabha
- d)To present a motion of no-confidence
Correct answer is option 'B'. Can you explain this answer?
a)
To discuss budget proposals
b)
To resolve deadlock over a Bill
c)
To elect the Speaker of Lok Sabha
d)
To present a motion of no-confidence
|
|
Spectrum Coaching Institute answered |
A joint sitting of both Houses is convened to resolve a deadlock over a Bill when there is a disagreement between the two Houses.
Which committee examines the budget estimates and ensures realistic budget preparation?- a)Finance Committee
- b)Appropriation Committee
- c)Public Accounts Committee
- d)Estimates Committee
Correct answer is option 'D'. Can you explain this answer?
a)
Finance Committee
b)
Appropriation Committee
c)
Public Accounts Committee
d)
Estimates Committee
|
|
K.L Institute answered |
The Estimates Committee examines budget estimates and ensures that they are prepared realistically compared to actual expenditures. This committee contributes to accountability and effective budgeting.
What is the main responsibility of the Finance Ministry during the budget preparation?- a)Preparation of estimates for all government departments
- b)Vetting and consolidation of estimates received from departments
- c)Final approval of all proposed budget expenditures
- d)Execution of budget activities and revenue collection
Correct answer is option 'B'. Can you explain this answer?
a)
Preparation of estimates for all government departments
b)
Vetting and consolidation of estimates received from departments
c)
Final approval of all proposed budget expenditures
d)
Execution of budget activities and revenue collection
|
|
Shounak Desai answered |
Understanding the Role of the Finance Ministry in Budget Preparation
The Finance Ministry plays a crucial role in the budget preparation process of a government. Among its various responsibilities, the vetting and consolidation of estimates received from departments is fundamental. This involves several key activities:
1. Coordination with Government Departments
- The Finance Ministry collaborates with all government departments to gather budgetary estimates.
- Each department submits its financial needs, which reflect their operational and developmental priorities.
2. Vetting of Estimates
- The Finance Ministry meticulously reviews the estimates to ensure they align with national priorities and fiscal discipline.
- This vetting process involves assessing the feasibility and necessity of the proposed expenditures.
3. Consolidation of Estimates
- After reviewing, the Ministry consolidates the estimates into a coherent budget proposal.
- This consolidation ensures that the budget reflects a balanced approach, considering both revenue and expenditure.
4. Ensuring Fiscal Responsibility
- The Ministry ensures that the overall budget adheres to fiscal targets and macroeconomic stability.
- This responsibility includes evaluating the impact of proposed expenditures on the overall economy.
Conclusion
In summary, option 'B' is correct because the main responsibility of the Finance Ministry during the budget preparation phase is the vetting and consolidation of estimates. This critical function ensures that the budget is comprehensive, realistic, and aligned with the government's economic policies. Ultimately, it sets the stage for effective budget execution and monitoring in subsequent phases.
The Finance Ministry plays a crucial role in the budget preparation process of a government. Among its various responsibilities, the vetting and consolidation of estimates received from departments is fundamental. This involves several key activities:
1. Coordination with Government Departments
- The Finance Ministry collaborates with all government departments to gather budgetary estimates.
- Each department submits its financial needs, which reflect their operational and developmental priorities.
2. Vetting of Estimates
- The Finance Ministry meticulously reviews the estimates to ensure they align with national priorities and fiscal discipline.
- This vetting process involves assessing the feasibility and necessity of the proposed expenditures.
3. Consolidation of Estimates
- After reviewing, the Ministry consolidates the estimates into a coherent budget proposal.
- This consolidation ensures that the budget reflects a balanced approach, considering both revenue and expenditure.
4. Ensuring Fiscal Responsibility
- The Ministry ensures that the overall budget adheres to fiscal targets and macroeconomic stability.
- This responsibility includes evaluating the impact of proposed expenditures on the overall economy.
Conclusion
In summary, option 'B' is correct because the main responsibility of the Finance Ministry during the budget preparation phase is the vetting and consolidation of estimates. This critical function ensures that the budget is comprehensive, realistic, and aligned with the government's economic policies. Ultimately, it sets the stage for effective budget execution and monitoring in subsequent phases.
What is the purpose of "Votes on Account" in budget execution?- a)To provide additional funds for new projects
- b)To cover expenditure for a part of the financial year before the regular budget is passed
- c)To allocate funds for contingency purposes
- d)To reduce the overall budget deficit
Correct answer is option 'B'. Can you explain this answer?
a)
To provide additional funds for new projects
b)
To cover expenditure for a part of the financial year before the regular budget is passed
c)
To allocate funds for contingency purposes
d)
To reduce the overall budget deficit
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BT Educators answered |
"Votes on Account" are taken to cover expenditure for a part of the financial year before the regular budget is passed, ensuring the smooth execution of government activities.
Which committee in the Indian Parliament ensures that the expenditure has not exceeded the grants made by the Parliament and the money has been spent for the intended purpose?- a)Committee on Privileges
- b)Estimate Committee
- c)Committee on Subordinate Legislation
- d)Committee on Public Undertakings
Correct answer is option 'D'. Can you explain this answer?
a)
Committee on Privileges
b)
Estimate Committee
c)
Committee on Subordinate Legislation
d)
Committee on Public Undertakings
|
Future Foundation Institute answered |
The Committee on Public Undertakings ensures that the expenditure has not exceeded the grants and that the money has been spent for the intended purpose.
What is the purpose of "Votes on Account" in budgeting?- a)To cover unforeseen expenditures
- b)To finance upcoming development projects
- c)To provide resources for a new fiscal year
- d)To allow deficit spending for emergencies
Correct answer is option 'C'. Can you explain this answer?
a)
To cover unforeseen expenditures
b)
To finance upcoming development projects
c)
To provide resources for a new fiscal year
d)
To allow deficit spending for emergencies
|
Upsc Toppers answered |
"Votes on Account" provide advance grants for estimated expenditure from April 1 to a part of the financial year. This helps in financing government operations while the regular budget passage process is underway.
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