Daily Quiz- 346
Budget GK
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Q1. Parliamentary approval is required for withdrawal from:
A. Public Account only
B. Contingency Fund only
C. Consolidated Fund only
D. All three funds
Q2. Which statement about the Contingency Fund of India is correct?
A. It is unlimited in size
B. It requires prior parliamentary approval
C. It is operated by the President
D. It forms part of Public Account
Q3. Which of the following is a capital receipt?
A. Dividend from PSUs
B. Borrowings
C. GST collections
D. Interest received
Q4. Disinvestment proceeds are classified as:
A. Revenue receipt
B. Capital receipt
C. Revenue expenditure
D. Capital expenditure
Q5. Which expenditure improves productive capacity?
A. Salaries
B. Pension payments
C. Interest payments
D. Capital expenditure
Answers Quiz-345
1: B
Trap: Confusing Money Bill (Art. 110) with Budget presentation.
Explanation: Article 112 mandates the Annual Financial Statement. Article 110 defines Money Bills, while Article 114 deals with appropriation.
2: D
Trap: Assuming Rajya Sabha has equal legislative power.
Explanation: Rajya Sabha can only make recommendations and must return the Money Bill within 14 days.
3: C
Trap: Thinking large expenditures are charged.
Explanation: Interest on public debt is charged expenditure and not voted upon.
4: C
Trap: Confusing Finance Bill with Appropriation Bill.
Explanation: Appropriation Bill legalises expenditure after grants are approved.
5: C
Trap: Assuming all government collections go to Consolidated Fund.
Explanation: Public Account holds funds where government acts as trustee (PF, small savings).
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