UPSC 2003 › Indian Polity › Public Finance & Finance Commission

2 questions · 2003 · answers as per the UPSC key

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UPSC 2003 · Q50 · Indian Polity › Public Finance & Finance Commission · Save

Consider the following statements: In India, stamp duties on financial transactions are

  1. Levied and collected by the State Government
  2. Appropriated by the Union Government.

Which of these statements is/are correct?

(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2
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Answer: (d) Neither 1 nor 2
UPSC 2003 · Q73 · Indian Polity › Public Finance & Finance Commission · Save

Consider the following statements: The function(s) of the Finance Commission is/are

  1. To allow the withdrawal of money out of the Consolidated Fund of India.
  2. To allocate between the States the shares of proceeds of taxes.
  3. To consider applications for grants-in-aid from States.
  4. To supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.

Which of these statements is/are correct?

(a) Only 1
(b) 2 and 3
(c) 3 and 4
(d) 1, 2 and 4
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Answer: (b) 2 and 3