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Financial Relations between the Centre and the States

Description: Financial Relations between the Centre and the States
Number of Questions: 15
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Tags: indian politics political federalism financial relations
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Which article of the Indian Constitution deals with the distribution of revenues between the Centre and the States?

  1. Article 268

  2. Article 269

  3. Article 270

  4. Article 271


Correct Option: C
Explanation:

Article 270 of the Indian Constitution deals with the distribution of revenues between the Centre and the States.

Which of the following is not a source of revenue for the Central Government?

  1. Income Tax

  2. Customs Duty

  3. Excise Duty

  4. Sales Tax


Correct Option: D
Explanation:

Sales Tax is a source of revenue for the State Governments, not the Central Government.

Which of the following is not a source of revenue for the State Governments?

  1. Land Revenue

  2. Stamp Duty

  3. Registration Fee

  4. Corporate Tax


Correct Option: D
Explanation:

Corporate Tax is a source of revenue for the Central Government, not the State Governments.

Which of the following is a type of tax that is levied by both the Central and State Governments?

  1. Income Tax

  2. Sales Tax

  3. Excise Duty

  4. Property Tax


Correct Option: A
Explanation:

Income Tax is a type of tax that is levied by both the Central and State Governments.

Which of the following is a type of tax that is levied only by the Central Government?

  1. Customs Duty

  2. Excise Duty

  3. Service Tax

  4. Value Added Tax


Correct Option: A
Explanation:

Customs Duty is a type of tax that is levied only by the Central Government.

Which of the following is a type of tax that is levied only by the State Governments?

  1. Land Revenue

  2. Stamp Duty

  3. Registration Fee

  4. Entertainment Tax


Correct Option: A
Explanation:

Land Revenue is a type of tax that is levied only by the State Governments.

Which of the following is a type of tax that is shared between the Central and State Governments?

  1. Income Tax

  2. Sales Tax

  3. Excise Duty

  4. Wealth Tax


Correct Option: A
Explanation:

Income Tax is a type of tax that is shared between the Central and State Governments.

Which of the following is a type of tax that is levied by the Central Government but collected by the State Governments?

  1. Customs Duty

  2. Excise Duty

  3. Service Tax

  4. Value Added Tax


Correct Option: B
Explanation:

Excise Duty is a type of tax that is levied by the Central Government but collected by the State Governments.

Which of the following is a type of tax that is levied by the State Governments but collected by the Central Government?

  1. Land Revenue

  2. Stamp Duty

  3. Registration Fee

  4. Entertainment Tax


Correct Option: A
Explanation:

Land Revenue is a type of tax that is levied by the State Governments but collected by the Central Government.

Which of the following is a type of grant that is given by the Central Government to the State Governments?

  1. Revenue Deficit Grant

  2. Capital Deficit Grant

  3. Plan Grant

  4. Non-Plan Grant


Correct Option: A
Explanation:

Revenue Deficit Grant is a type of grant that is given by the Central Government to the State Governments to cover their revenue deficit.

Which of the following is a type of grant that is given by the Central Government to the State Governments for specific purposes?

  1. Revenue Deficit Grant

  2. Capital Deficit Grant

  3. Plan Grant

  4. Non-Plan Grant


Correct Option: C
Explanation:

Plan Grant is a type of grant that is given by the Central Government to the State Governments for specific purposes.

Which of the following is a type of grant that is given by the Central Government to the State Governments for non-specific purposes?

  1. Revenue Deficit Grant

  2. Capital Deficit Grant

  3. Plan Grant

  4. Non-Plan Grant


Correct Option: D
Explanation:

Non-Plan Grant is a type of grant that is given by the Central Government to the State Governments for non-specific purposes.

Which of the following is a type of loan that is given by the Central Government to the State Governments?

  1. Ways and Means Advance

  2. Overdraft

  3. Medium-Term Loan

  4. Long-Term Loan


Correct Option: A
Explanation:

Ways and Means Advance is a type of loan that is given by the Central Government to the State Governments to tide them over temporary financial difficulties.

Which of the following is a type of loan that is given by the Central Government to the State Governments for specific purposes?

  1. Ways and Means Advance

  2. Overdraft

  3. Medium-Term Loan

  4. Long-Term Loan


Correct Option: C
Explanation:

Medium-Term Loan is a type of loan that is given by the Central Government to the State Governments for specific purposes.

Which of the following is a type of loan that is given by the Central Government to the State Governments for non-specific purposes?

  1. Ways and Means Advance

  2. Overdraft

  3. Medium-Term Loan

  4. Long-Term Loan


Correct Option: D
Explanation:

Long-Term Loan is a type of loan that is given by the Central Government to the State Governments for non-specific purposes.

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