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CET 12th Level — Budget & Public Finance MCQs

Practice 20 free budget & public finance multiple choice questions for CET 12th Level exam. Instant answers with explanations in Hindi and English.

Master Budget & Public Finance under Indian Economy for CET 12th Level with our curated MCQ set. Every question follows real Rajasthan exam patterns. Switch between Hindi and English anytime.

CET 12th Level — Indian Economy — Budget & Public Finance

20 Questions • Instant results & explanations • Hindi & English

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Question 1 of 20

Consider the following statements regarding Primary Deficit: 1. It is equal to Fiscal Deficit minus Interest Payments. 2. It shows current year's deficit excluding past debt servicing burden. 3. A zero primary deficit means there is no fiscal deficit. Which of the above are correct?

Question 2 of 20

A government has a fiscal deficit of ₹80,000 crore and interest payments of ₹20,000 crore. Its primary deficit will be:

Question 3 of 20

Which one of the following statements is most appropriate regarding a high Revenue Deficit?

Question 4 of 20

Match List-I with List-II: List-I (Article) A. Article 112 B. Article 202 C. Article 266 D. Article 267 List-II (Provision) I. Contingency Fund II. Union Budget / Annual Financial Statement III. Consolidated Fund and Public Account IV. State Budget / Annual Financial Statement

Question 5 of 20

Under which constitutional article is the Annual Financial Statement for the Union laid before Parliament?

Question 6 of 20

In the context of Rajasthan, the Governor causes the Annual Financial Statement to be laid before the State Legislature under:

Question 7 of 20

Which of the following is correct regarding Charged Expenditure under Articles 113/203?

Question 8 of 20

Which of the following statements is correct about the Appropriation Bill?

Question 9 of 20

Assertion (A): Article 265 is a major safeguard against arbitrary taxation. Reason (R): No tax can be levied or collected except by authority of law.

Question 10 of 20

Which one of the following is NOT correctly paired?

Question 11 of 20

Which of the following statements about the Finance Commission is/are correct? 1. It is provided under Article 280. 2. It recommends distribution of financial resources between Centre and States. 3. It is a quasi-judicial body. Select the correct answer using the codes below.

Question 12 of 20

Which of the following is the best distinction between Consolidated Fund and Public Account in the budget framework?

Question 13 of 20

The FRBM Act, 2003 was primarily enacted to:

Question 14 of 20

Which of the following combinations is correctly matched with Rajasthan 2026–27 BE values mentioned in the material?

Question 15 of 20

If a question asks which fiscal indicator best captures 'fresh borrowing needs excluding interest', the correct answer would be:

Question 16 of 20

Consider the following statements regarding Revenue Deficit: 1. It necessarily implies decline in capital formation. 2. It may lead to inter-generational burden. 3. It always results in fiscal deficit of equal magnitude. Which of the above are correct?

Question 17 of 20

Assertion (A): Fiscal deficit is considered more comprehensive than revenue deficit. Reason (R): Fiscal deficit includes both revenue and capital components of government finances.

Question 18 of 20

Which of the following best describes a situation of 'crowding out'?

Question 19 of 20

Consider the following statements regarding Primary Deficit: 1. It ignores past debt obligations. 2. It is always lower than fiscal deficit. 3. It can be negative. Which are correct?

Question 20 of 20

Which of the following is NOT a correct implication of high fiscal deficit?

More Indian Economy Subtopics

Practice other subtopics under Indian Economy to strengthen your CET 12th Level preparation.