Indian Economy MCQs

Engineering MCQs CBSE MCQs

Q.  Which of the following statements is/are correct with respect to Budgeting system in India?
1: While a vote-on-account deals only with the expenditure side of the government’s budget, interim budget is a complete set of accounts, including both expenditure and receipts
2: Vote on account can be passed for maximum two months, with maximum amount withdrawal being one-sixth of total budget of the year
Select the correct option from the codes given below:

a. Only 1
b. Only 2
c. Both 1 & 2
d. Neither 1 nor 2


ANSWER: See Answer
 
Second statement is incorrect, as Vote of account can be increased for further period during election year or when it is anticipated that the main Demands and Appropriation Bill will take longer time than two months.
MCQs:  Which of the following statements is/are correct about the Small Finance Bank? 1: They are allowed to accept deposits from customers but not allowed to lend money 2: Airtel Small Finance Bank Ltd is India’s first small finance bank 3: Small finance banks need to maintain SLR and CRR 4: These are registered as a public limited company under the Companies Act, 2013 Select the correct option from codes given below:
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