Public Finance in India · Economy · UPSC Civil Service

Consider the following statements:

Statement I: In India, income from allied agricultural activities like poultry farming and wool rearing in rural areas is exempted from any tax.

Statement II: In India, rural agricultural land is not considered a capital asset under the provisions of the Income-tax Act, 1961.

Which one of the following is correct in respect of the above statements?

Consider the following statements:

I. Capital receipts create a liability or cause a reduction in the assets of the Government.

II. Borrowings and disinvestment are capital receipts.

III. Interest received on loans creates a liability of the Government.

Which of the statements given above are correct?

Which of the following statements with regard to recommendations of the $\mathbf{1 5}$ th Finance Commission of India are correct?

I. It has recommended grants of ₹ 4,800 crores from the year 2022-23 to the year 2025-26 for incentivizing States to enhance educational outcomes.

II. $45 \%$ of the net proceeds of Union taxes are to be shared with States.

III. ₹ 45,000 crores are to be kept as performance-based incentive for all States for carrying out agricultural reforms.

IV. It reintroduced tax effort criteria to reward fiscal performance.

Select the correct answer using the code given below.

With reference to Union Budget, consider the following statements:

1. The Union Finance Minister on behalf of the Prime Minister lays the Annual Financial Statement before both the Houses of Parliament.
2. At the Union level, no demand for a grant can be made except on the recommendation of the President of India.

Which of the statements given above is/are correct?

Consider the following statements:

Statement-I: Switzerland is one of the leading exporters of gold in terms of value.

Statement-II: Switzerland has the second largest gold reserves in the world.

Which one of the following is correct in respect of the above statements?

In India, what is the role of the Coal Controller's Organization (CCO)?

1. CCO is the major source of Coal Statistics in the Government of India.

2. It monitors the progress of the development of Captive Coal/Lignite blocks.

3. It hears any objection to the Government's notification relating to the acquisition of coal-bearing areas.

4. It ensures that coal mining companies deliver the coal to end users in the prescribed time.

Select the correct answer using the code given below:

Which one of the following effects of creation of black money in India has been the main cause of worry to the Government of India?

With reference to India, consider the following statements :

1. Retail investors through demat account can invest in ‘Treasury Bills’ and ‘Government of India Debt Bonds’ in primary market.

2. The Negotiated Dealing System Order Matching’ is a government securities trading platform of the Reserve Bank of India.

3. The ‘Central Depository Services Ltd.’ is jointly promoted by the Reserve Bank of India and the Bombay Stock Exchange.

Which of the statements given above is/are correct?