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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- According to constitutional provisions, no money can be withdrawn from the Consolidated Fund without parliamentary approval, reinforcing democratic oversight.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
|
Gopal Datta answered |
Who is the head of the Drafting Committee of the Indian Constitution?
The head of the Drafting Committee of the Indian Constitution was B.R. Ambedkar.
Here is an explanation of the answer:
- B.R. Ambedkar: Dr. B.R. Ambedkar, also known as the principal architect of the Indian Constitution, was appointed as the Chairman of the Drafting Committee by the Constituent Assembly on 29th August 1947.
- Role: As the head of the Drafting Committee, B.R. Ambedkar played a crucial role in drafting the Indian Constitution. He was responsible for overseeing the drafting process and ensuring that the final document reflected the ideals and principles of the Constituent Assembly.
- Contribution: B.R. Ambedkar's expertise in law and his commitment to social justice were instrumental in shaping the Indian Constitution. He played a key role in incorporating provisions related to fundamental rights, directive principles of state policy, and the structure of the government.
- Significance: The drafting of the Indian Constitution was a complex and challenging task, given the diverse nature of Indian society. B.R. Ambedkar's leadership and vision were crucial in guiding the Drafting Committee through this process and ensuring that the final document laid the foundation for a democratic and inclusive society.
- Legacy: B.R. Ambedkar's contribution to the Indian Constitution is widely acknowledged, and he is considered one of the key architects of modern India. His emphasis on equality, justice, and individual rights continues to shape the legal and political landscape of the country.
The head of the Drafting Committee of the Indian Constitution was B.R. Ambedkar.
Here is an explanation of the answer:
- B.R. Ambedkar: Dr. B.R. Ambedkar, also known as the principal architect of the Indian Constitution, was appointed as the Chairman of the Drafting Committee by the Constituent Assembly on 29th August 1947.
- Role: As the head of the Drafting Committee, B.R. Ambedkar played a crucial role in drafting the Indian Constitution. He was responsible for overseeing the drafting process and ensuring that the final document reflected the ideals and principles of the Constituent Assembly.
- Contribution: B.R. Ambedkar's expertise in law and his commitment to social justice were instrumental in shaping the Indian Constitution. He played a key role in incorporating provisions related to fundamental rights, directive principles of state policy, and the structure of the government.
- Significance: The drafting of the Indian Constitution was a complex and challenging task, given the diverse nature of Indian society. B.R. Ambedkar's leadership and vision were crucial in guiding the Drafting Committee through this process and ensuring that the final document laid the foundation for a democratic and inclusive society.
- Legacy: B.R. Ambedkar's contribution to the Indian Constitution is widely acknowledged, and he is considered one of the key architects of modern India. His emphasis on equality, justice, and individual rights continues to shape the legal and political landscape of the country.
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 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
|
Saptarshi Banerjee answered |
Money Bill
Money bill is a type of bill that can only be introduced in the Lok Sabha and not in the Rajya Sabha. This is specified in Article 110 of the Indian Constitution. Money bills deal with financial matters such as taxation, government spending, borrowing of money by the government, etc.
Key points:
- Money bills can only be introduced in the Lok Sabha by a minister.
- The Rajya Sabha can suggest amendments to a money bill, but it cannot reject or amend it.
- If the Rajya Sabha does not pass a money bill within 14 days, it is deemed to have been passed by both houses.
- The President cannot return a money bill for reconsideration by the Parliament.
In summary, money bills are a special category of bills that can only be introduced in the Lok Sabha, which has the exclusive authority to deal with financial matters. This is to ensure that the government has the necessary resources to function and that financial decisions are made in a timely and efficient manner.
Money bill is a type of bill that can only be introduced in the Lok Sabha and not in the Rajya Sabha. This is specified in Article 110 of the Indian Constitution. Money bills deal with financial matters such as taxation, government spending, borrowing of money by the government, etc.
Key points:
- Money bills can only be introduced in the Lok Sabha by a minister.
- The Rajya Sabha can suggest amendments to a money bill, but it cannot reject or amend it.
- If the Rajya Sabha does not pass a money bill within 14 days, it is deemed to have been passed by both houses.
- The President cannot return a money bill for reconsideration by the Parliament.
In summary, money bills are a special category of bills that can only be introduced in the Lok Sabha, which has the exclusive authority to deal with financial matters. This is to ensure that the government has the necessary resources to function and that financial decisions are made in a timely and efficient manner.
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
|
Capstone Ias Learning answered |
The Estimates Committee examines the budget estimates to ensure they are prepared realistically and accurately.
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
|
K.L Institute answered |
The President can nominate up to two members to represent the Anglo-Indian community in the Lok Sabha, if the President believes this community is not properly represented.
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.
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
|
|
Raksha Das answered |
Regulating revenue collection and supervising expenditure
The primary role of the Finance Ministry during the budget execution phase is to regulate revenue collection and supervise expenditure. This involves ensuring that the government collects the necessary revenue to finance its budgeted expenditures and overseeing how these funds are spent.
Regulating revenue collection
The Finance Ministry is responsible for overseeing the collection of revenue through various sources such as taxes, duties, and fees. It sets targets for revenue collection based on the budget estimates and works to ensure that these targets are met. This may involve implementing tax policies, monitoring compliance, and taking action against tax evasion.
Supervising expenditure
In addition to regulating revenue collection, the Finance Ministry also supervises the expenditure of government funds. It ensures that expenditures are in line with the budget allocations and that they are spent efficiently and effectively. This may involve conducting financial audits, monitoring spending patterns, and identifying areas where cost savings can be made.
Overall, the Finance Ministry plays a crucial role in ensuring that the government's budget is executed in a responsible and transparent manner, ultimately contributing to the overall financial health and stability of the country.
The primary role of the Finance Ministry during the budget execution phase is to regulate revenue collection and supervise expenditure. This involves ensuring that the government collects the necessary revenue to finance its budgeted expenditures and overseeing how these funds are spent.
Regulating revenue collection
The Finance Ministry is responsible for overseeing the collection of revenue through various sources such as taxes, duties, and fees. It sets targets for revenue collection based on the budget estimates and works to ensure that these targets are met. This may involve implementing tax policies, monitoring compliance, and taking action against tax evasion.
Supervising expenditure
In addition to regulating revenue collection, the Finance Ministry also supervises the expenditure of government funds. It ensures that expenditures are in line with the budget allocations and that they are spent efficiently and effectively. This may involve conducting financial audits, monitoring spending patterns, and identifying areas where cost savings can be made.
Overall, the Finance Ministry plays a crucial role in ensuring that the government's budget is executed in a responsible and transparent manner, ultimately contributing to the overall financial health and stability of the country.
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.
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 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.
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 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.
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)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 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.
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
|
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.
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.
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
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.
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 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)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 "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.
Chapter doubts & questions for Parliament - Lucent for GK 2025 is part of Delhi Police Constable exam preparation. The chapters have been prepared according to the Delhi Police Constable exam syllabus. The Chapter doubts & questions, notes, tests & MCQs are made for Delhi Police Constable 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests here.
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