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Test : Parliament 3 - UPSC MCQ


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10 Questions MCQ Test Lucent for GK - Test : Parliament 3

Test : Parliament 3 for UPSC 2024 is part of Lucent for GK preparation. The Test : Parliament 3 questions and answers have been prepared according to the UPSC exam syllabus.The Test : Parliament 3 MCQs are made for UPSC 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test : Parliament 3 below.
Solutions of Test : Parliament 3 questions in English are available as part of our Lucent for GK for UPSC & Test : Parliament 3 solutions in Hindi for Lucent for GK course. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free. Attempt Test : Parliament 3 | 10 questions in 10 minutes | Mock test for UPSC preparation | Free important questions MCQ to study Lucent for GK for UPSC Exam | Download free PDF with solutions
Test : Parliament 3 - Question 1
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What are the four different operations involved in the budgetary process?

Detailed Solution for Test : Parliament 3 - Question 1
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.
Test : Parliament 3 - Question 2
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In India, the financial year of the Government begins on which date?

Detailed Solution for Test : Parliament 3 - Question 2
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.
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Test : Parliament 3 - Question 3
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When does the exercise of budget preparation typically begin in India?

Detailed Solution for Test : Parliament 3 - Question 3
The exercise of budget preparation in India usually begins around September/October. During this time, the Finance Ministry requests various Ministries and Departments to prepare and submit their estimates of revenue and expenditure for the coming year.
Test : Parliament 3 - Question 4
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What is the primary role of the Finance Ministry in the budgetary process?
Detailed Solution for Test : Parliament 3 - Question 4
The Finance Ministry plays a significant role in the budgetary process. It scrutinizes and reviews the estimates submitted by different departments, provides financial oversight, ensures a balanced budget, and consolidates the budget estimates.
Test : Parliament 3 - Question 5
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What is the main difference between "voted expenditure" and "charged expenditure"?
Detailed Solution for Test : Parliament 3 - Question 5
Voted expenditure requires approval by the legislature, while charged expenditure, like salaries of judges, can be expended without legislative scrutiny. This distinction helps in the proper classification of expenditures for accountability purposes.
Test : Parliament 3 - Question 6
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What is the purpose of the Estimates Committee in the legislative process?
Detailed Solution for Test : Parliament 3 - Question 6
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.
Test : Parliament 3 - Question 7
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What is the purpose of "Votes on Account" in budgeting?
Detailed Solution for Test : Parliament 3 - Question 7
"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.
Test : Parliament 3 - Question 8
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Which committee examines the budget estimates and ensures realistic budget preparation?
Detailed Solution for Test : Parliament 3 - Question 8
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.
Test : Parliament 3 - Question 9
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In India, when does the Railway Budget usually precede the presentation of the General Budget?
Detailed Solution for Test : Parliament 3 - Question 9
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.
Test : Parliament 3 - Question 10
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What is the purpose of the Finance Bill in the budget process?
Detailed Solution for Test : Parliament 3 - Question 10
The Finance Bill contains proposals for taxation and is voted upon to become the Finance Act. It authorizes charges involved in ordinary legislation, ensuring that financial implications of legislation are appropriately addressed.
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