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Question 1 of 5
1. Question
1 pointsConsider the following statements
1. Under Article 112 of the Constitution, the government has to present a statement of estimated revenue and expenditure for every fiscal called the annual financial statement.
2. The word ‘budget’ is mentioned in Article 112 of the Indian Constitution.
Which of the statements given above is/ are correct?Correct
-Statement 1 is correct. Under Article 112 of the Constitution, the government has to present a statement of estimated revenue and expenditure for every fiscal. This statement is called the annual financial statement.
-Statement 2 is incorrect. The word budget is nowhere mentioned in the constitution. The constitution mentions the word annual financial statement.Incorrect
-Statement 1 is correct. Under Article 112 of the Constitution, the government has to present a statement of estimated revenue and expenditure for every fiscal. This statement is called the annual financial statement.
-Statement 2 is incorrect. The word budget is nowhere mentioned in the constitution. The constitution mentions the word annual financial statement. -
Question 2 of 5
2. Question
1 pointsWhich of the following are ‘charged’ on the Consolidated Fund of India?
1. Salary and Allowances of the President
2. Salary and Allowances of the President, Speaker / Deputy speaker of Lok Sabha
3. Salary and Allowances of the High Court Judges.
Select the correct answer using the codes given belowCorrect
-1 and 2 are correct.
-3 is incorrect.
-Disbursements ‘charged’ on the Consolidated Fund of India is a special category within the Consolidated Fund of India which is not put to vote in the Parliament.
Salary and Allowances of the President, Speaker / Deputy speaker of Lok Sabha, Chairman/ Deputy chairman of Rajya Sabha, Salaries and Allowances of Supreme Court judges, Pensions of Supreme Court as well as High Court Judges, Salaries and Allowances of CAG, etc come under this category.Incorrect
-1 and 2 are correct.
-3 is incorrect.
-Disbursements ‘charged’ on the Consolidated Fund of India is a special category within the Consolidated Fund of India which is not put to vote in the Parliament.
Salary and Allowances of the President, Speaker / Deputy speaker of Lok Sabha, Chairman/ Deputy chairman of Rajya Sabha, Salaries and Allowances of Supreme Court judges, Pensions of Supreme Court as well as High Court Judges, Salaries and Allowances of CAG, etc come under this category. -
Question 3 of 5
3. Question
1 pointsWhich of the following maintains the Contingency Fund of India?
Correct
-Like the Consolidated Fund of India, the Contingency Fund of India constitutes a part of the annual financial statement. Established under Article 267(1) of the Indian Constitution, the fund is maintained by the finance secretary on behalf of the president.
Incorrect
-Like the Consolidated Fund of India, the Contingency Fund of India constitutes a part of the annual financial statement. Established under Article 267(1) of the Indian Constitution, the fund is maintained by the finance secretary on behalf of the president.
-
Question 4 of 5
4. Question
1 pointsConsider the following statements about Gini coefficient
1. It is a measure of the distribution of income across a population.
2. A higher Gini index indicates greater equality in the society.
Which of the statements given above is/ are correct?Correct
-Statement 1 is correct while statement 2 is incorrect.
Gini coefficient:
-It is a measure of the distribution of income across a population.
-A higher Gini index indicates greater inequality, with high-income individuals receiving much larger percentages of the total income of the population.
-The Gini Coefficient can vary from 0 (perfect equality) to 1 (perfect inequality).
-A Gini Coefficient of zero means that everyone has the same income, while a Coefficient of 1 represents a single individual receiving all the income.Incorrect
-Statement 1 is correct while statement 2 is incorrect.
Gini coefficient:
-It is a measure of the distribution of income across a population.
-A higher Gini index indicates greater inequality, with high-income individuals receiving much larger percentages of the total income of the population.
-The Gini Coefficient can vary from 0 (perfect equality) to 1 (perfect inequality).
-A Gini Coefficient of zero means that everyone has the same income, while a Coefficient of 1 represents a single individual receiving all the income. -
Question 5 of 5
5. Question
1 pointsConsider the following statements about Multidimensional Poverty Index (MPI)
1. The Multidimensional Poverty Index was launched by the UNDP and the OPHI in 2010.
2. It is based on three dimensions – education, health, and standard of living and uses ten indicators such as education, nutrition, and mortality, etc.
Which of the statements given above is/ are correct?Correct
-Both the statements are correct.
-The Multidimensional Poverty Index was launched by the UNDP and the OPHI in 2010.
-Multidimensional Poverty Index (MPI) is based on three dimensions – education, health, and standard of living and uses ten indicators such as education, nutrition, and mortality, etc.
-Headcount Ratio of MPI is interpreted as the proportion of the population that is multi-dimensionally poor.Incorrect
-Both the statements are correct.
-The Multidimensional Poverty Index was launched by the UNDP and the OPHI in 2010.
-Multidimensional Poverty Index (MPI) is based on three dimensions – education, health, and standard of living and uses ten indicators such as education, nutrition, and mortality, etc.
-Headcount Ratio of MPI is interpreted as the proportion of the population that is multi-dimensionally poor.
Leaderboard: 12th April 2021 | Prelims Daily with Previous Year Questions
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