Transparency in Government Funding

Description: This quiz will test your knowledge on the topic of Transparency in Government Funding. Questions will cover various aspects of government funding, including sources of funding, budget processes, and oversight mechanisms.
Number of Questions: 14
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Tags: indian politics political transparency transparency in government funding
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What is the primary source of revenue for the Indian government?

  1. Income tax

  2. Corporate tax

  3. Goods and Services Tax (GST)

  4. Customs duty


Correct Option: C
Explanation:

The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services. It is the primary source of revenue for the Indian government, accounting for over 50% of its total tax revenue.

Which constitutional body is responsible for overseeing the government's budget?

  1. Finance Commission

  2. Planning Commission

  3. Comptroller and Auditor General of India (CAG)

  4. Reserve Bank of India (RBI)


Correct Option: C
Explanation:

The Comptroller and Auditor General of India (CAG) is an independent constitutional authority that audits the accounts of the government and ensures that public funds are used in an efficient and effective manner.

What is the process through which the government's budget is formulated and approved?

  1. Budgetary process

  2. Fiscal policy

  3. Monetary policy

  4. Economic policy


Correct Option: A
Explanation:

The budgetary process is the process through which the government's budget is formulated and approved. It involves the preparation of the budget, its presentation to the legislature, and its approval by the legislature.

Which document outlines the government's financial plans and policies for the upcoming fiscal year?

  1. Economic Survey

  2. Annual Financial Statement

  3. Budget Speech

  4. Finance Bill


Correct Option: C
Explanation:

The Budget Speech is a statement presented by the Finance Minister to the Parliament, outlining the government's financial plans and policies for the upcoming fiscal year.

What is the role of the Finance Commission in the allocation of funds to states?

  1. Recommends the distribution of tax revenue between the central and state governments

  2. Determines the borrowing limits of state governments

  3. Audits the accounts of state governments

  4. Sets the interest rates on government loans


Correct Option: A
Explanation:

The Finance Commission is a constitutional body that recommends the distribution of tax revenue between the central and state governments. It also makes recommendations on other fiscal matters.

Which law regulates the funding of political parties in India?

  1. Representation of the People Act, 1951

  2. Right to Information Act, 2005

  3. Foreign Contribution Regulation Act, 2010

  4. Lokpal and Lokayuktas Act, 2013


Correct Option: A
Explanation:

The Representation of the People Act, 1951 regulates the funding of political parties in India. It sets limits on the amount of money that can be donated to political parties and requires political parties to disclose their sources of funding.

What is the purpose of the Right to Information Act, 2005?

  1. To promote transparency and accountability in government

  2. To protect the privacy of individuals

  3. To regulate the funding of political parties

  4. To prevent corruption in government


Correct Option: A
Explanation:

The Right to Information Act, 2005 aims to promote transparency and accountability in government by giving citizens the right to access information held by public authorities.

Which body is responsible for investigating allegations of corruption in government?

  1. Central Bureau of Investigation (CBI)

  2. Enforcement Directorate (ED)

  3. National Investigation Agency (NIA)

  4. Serious Fraud Investigation Office (SFIO)


Correct Option: A
Explanation:

The Central Bureau of Investigation (CBI) is the primary agency responsible for investigating allegations of corruption in government. It is an independent agency that reports directly to the Prime Minister.

What is the role of the Public Accounts Committee in ensuring transparency in government spending?

  1. Reviews the accounts of the government and makes recommendations for improvement

  2. Investigates allegations of corruption in government

  3. Approves the government's budget

  4. Sets the interest rates on government loans


Correct Option: A
Explanation:

The Public Accounts Committee is a parliamentary committee that reviews the accounts of the government and makes recommendations for improvement. It plays a crucial role in ensuring transparency in government spending.

Which law mandates the disclosure of information related to government contracts and procurement?

  1. Public Procurement Act, 2006

  2. Right to Information Act, 2005

  3. Foreign Contribution Regulation Act, 2010

  4. Lokpal and Lokayuktas Act, 2013


Correct Option: A
Explanation:

The Public Procurement Act, 2006 mandates the disclosure of information related to government contracts and procurement. It aims to promote transparency and accountability in government procurement processes.

What is the role of the Comptroller and Auditor General of India (CAG) in ensuring transparency in government spending?

  1. Audits the accounts of the government and reports to the Parliament

  2. Investigates allegations of corruption in government

  3. Approves the government's budget

  4. Sets the interest rates on government loans


Correct Option: A
Explanation:

The Comptroller and Auditor General of India (CAG) is an independent constitutional authority that audits the accounts of the government and reports to the Parliament. This plays a crucial role in ensuring transparency and accountability in government spending.

Which law regulates the funding of elections in India?

  1. Representation of the People Act, 1951

  2. Right to Information Act, 2005

  3. Foreign Contribution Regulation Act, 2010

  4. Lokpal and Lokayuktas Act, 2013


Correct Option: A
Explanation:

The Representation of the People Act, 1951 regulates the funding of elections in India. It sets limits on the amount of money that can be spent by candidates and political parties during elections.

What is the purpose of the Foreign Contribution Regulation Act, 2010?

  1. To regulate the receipt of foreign contributions by political parties and non-governmental organizations

  2. To promote transparency and accountability in government

  3. To prevent corruption in government

  4. To protect the privacy of individuals


Correct Option: A
Explanation:

The Foreign Contribution Regulation Act, 2010 regulates the receipt of foreign contributions by political parties and non-governmental organizations. It aims to prevent the use of foreign funds for illegal or undesirable activities.

Which law establishes the Lokpal and Lokayuktas to investigate allegations of corruption in government?

  1. Representation of the People Act, 1951

  2. Right to Information Act, 2005

  3. Foreign Contribution Regulation Act, 2010

  4. Lokpal and Lokayuktas Act, 2013


Correct Option: D
Explanation:

The Lokpal and Lokayuktas Act, 2013 establishes the Lokpal and Lokayuktas to investigate allegations of corruption in government. The Lokpal is an independent body that investigates allegations of corruption against high-ranking government officials, while the Lokayuktas are state-level bodies that investigate allegations of corruption against state government officials.

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