Indian Fiscal System Gk Questions and Answers

5. Temporary tax levied to obtain additional revenue is called
  A.  Rate
  B.  Cess
  C.  Fee
  D.  Surcharge
Answer
Ans: C
Fee
6. Fiscal Policy of India is formulated by
  A.  the Finance Ministry
  B.  the Reserve Bank of India
  C.  the Securities and Exchange Board of India
  D.  the Planning Commission
Answer
Ans: A
the Finance Ministry
7. Fiscal Policy in India is formulated by
  A.  the Reserve Bank of India
  B.  the Planning Commission
  C.  the Finance Ministry
  D.  the Securities and Exchange Board of India
Answer
Ans: C
the Finance Ministry
8. Fresh evaluation of every item of expenditure from the very beginning of each financial year is called
  A.  Zero based budgeting
  B.  Deficit budgeting
  C.  Performance budgeting
  D.  Fresh budgeting
Answer
Ans: A
Zero based budgeting
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