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Which one among the following formulates the fiscal policy in India ?

  • Planning Commission
  • Finance Commission
  • The Reserve Bank of India
  • Ministry of Finance

Answer: Option D

Similar Questions :

1. Deficit financing implies :

  • printing new currency notes
  • public revenue in excess of public expenditure
  • public expenditure in excess of public revenue
  • replacing new currency with worn out currency

Answer: Option C

2. Deficit financing means that the government borrows money from the ?

  • Revenue Department
  • World Bank
  • RBI
  • None of above

Answer: Option C

3. First five year plan was based on ?

  • Herold -Domar Model
  • P.C. Mahalanobis Model
  • Both of above
  • None of above

Answer: Option A

Explanation:

Second five year plan (1956-1961) was based on P.C. Mahalanobis Model.

4. What is FEMA ?

  • First Exchange Management Act
  • Foreign Exchequer Management Act
  • Foreign Exchange Management Act
  • Foreign Evaluation Management Act

Answer: Option C

Explanation:

FEMA is Foreign Exchange Management Act, it came into force in July 2000. It replaced Foreign Exchange Regulation Act 1973.

5. Balance sheet shows

  • Assets
  • Liabilities
  • Both assets and liabilities
  • Neither of them

Answer: Option C

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