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GFR 2017 CHAPTER 3: BUDGET FORMULATION AND
IMPLEMENTATION
In this post we have discussed all important MCQ related to Chapter 3 ie BUDGET FORMULATION AND IMPLEMENTATION
1. Financial Year covers the period
(a) From 01 Jan to 31 Dec
(b) From 01 April to 31 March next year
(c) From 01 July to 30 June next year
(d) 01 September to 31 August next year
▾ Answer
Answer: B
2. Presentation of Budget/ Annual Financial Statement to Parliament is made under the provision of Article
(a) 112 (1) (b) 112 (2)
(c) 113 (1) (d) 113 (2)
▾ Answer
Answer: A
3. Who shall arrange to lay Budget/ Annual Financial Statement before both the Houses of Parliament
(a) Concerned Ministry/Department (b) CGA
(c) Finance Minister (d) Public Account Committee
▾ Answer
Answer: C
4. The provisions for preparation, formulation and submission of budget to the Parliament are contained in Articles
(a) 112 to 116 of the Constitution of India. (b) 112 to 115 of the Constitution of India
110 to 114 of the Constitution of India 111 to 117 of the Constitution of India
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GFR 2017 CHAPTER 3: BUDGET FORMULATION AND IMPLEM... https://ncertbookspdf.com/chapter-3-budget-formulation-and-implementa...
▾ Answer
Answer: A
5. The budget shall contain the following: –
(a) Estimates of all revenues expected to be raised during the financial year to which the budget relates
(b) Estimates of all expenditure for each programme, scheme and project in that financial year;
(c) Estimates of all interest and debt servicing charges and any repayments on loans in that financial year;
(d) All of the above
▾ Answer
Answer: D
6. State whether true or false
The accounting heads under which major tax and non-tax revenues are collected shall be prescribed by the administrative Ministry in
consultation with the Budget Division in the Finance Ministry.
(a) True (b) False
▾ Answer
Answer: A
7. The rates of user charges should be linked with appropriate price indices and reviewed at least
(a) every year (b) every two years
(c) every three years (d) every five years
▾ Answer
Answer: C
8. The expenditure Charged on the Consolidated Fund and expenditure for which a vote of the Lok Sabha is required have been
provisioned in
(a) Article 112 (1) and Article 112 (2) respectively
(b) Article 112 (2) and Article 113(3) respectively
(c) Article 112 (3) and Article 113(3) respectively
(d) Article 112 (3) and Article 113(2) respectively
▾ Answer
Answer: C
9. The estimates for expenditure for which vote of Lok Sabha is required shall be in the form of
(a) Vote on Account (b) Demand for Grants
(c) Vote for Grants (d) Vote on Demand
▾ Answer
Answer: B
10. The final unit of appropriation is
(a) Major Head (b) Minor Head
(c) Primary Head (d) Object head
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GFR 2017 CHAPTER 3: BUDGET FORMULATION AND IMPLEM... https://ncertbookspdf.com/chapter-3-budget-formulation-and-implementa...
Prepared by Deepak Kumar Rahi, AAO/Local Audit Department, Patna
▾ Answer
Answer: D
11. State whether
One Demand for Grant is presented in respect of each Ministry or Department and under no circumstances more than one Demand for
Grant in respect of a single Ministry or Department shall be presented
(a) True (b) False
▾ Answer
Answer: B
12. The Demand for Grants shall be presented to Parliament at
(a) single level (b) two levels
(c) three level (d) four levels
▾ Answer
Answer: B
13. Pick the incorrect one
(a) The Demand for Grants shall be presented to Parliament at two levels.
(b) The main Demand for Grants shall be presented to Parliament by the Ministry of Finance,
Budget Division along with the Annual Financial Statement
(c) The Detailed Demands for Grants, for consideration by the “Public Account Committee (PAC) of the Parliament, are laid on the Table
of the Lok Sabha by the concerned Ministries/ Departments, as per dates approved from time to time.
(d) None the above
▾ Answer
Answer: C
14. The heads under which provision for expenditure shall be made in the Demands for Grants or Appropriation shall be prescribed by the
Finance Ministry in consultation with the
(a) CGA (b) CAG
(c) Public Account Committee (d) Administrative Ministry or Department.
▾ Answer
Answer: D
15. DRSC stands for
(a) Disaster Relief Standing Committee
(b) Departmentally Related Standing Committee
(c) Demand Reviewing Standing Committee
(d) Demand Review & Structure Committee
▾ Answer
Answer: B
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