JAIIB Exam 2025 – IE&IFS Important Questions MCQs Quiz-19

19/02/2025

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JAIIB Exam 2025 IE&IFS Important Questions MCQs Quiz-19

JAIIB Exam Quiz 2025: The JAIIB exam is scheduled for 2025 by IIBF. Here, we are providing JAIIB IE&IFS MCQ-based quizzes on a regular basis. You can attempt the quizzes regularly to prepare for the upcoming JAIIB exam. The quizzes will be provided module-wise and unit-wise. You can attempt the JAIIB IE&IFS quizzes from the links below and improve your preparation by practicing regularly. These quizzes will help you boost your score in the JAIIB exam and guide you to clear the exam on your first attempt.

Q.1. Which of the following statements about the Union Budget of India is incorrect?
A) The Union Budget is presented by the Finance Minister in Parliament.
B) Since 2017, the Rail Budget has been merged with the Union Budget.
C) The Union Budget is implemented from the 1st of February each year.
D) Before 2017, the Union Budget was presented on the last working day of February.

Q.2 Which of the following correctly represents the formula for Net Tax Revenue of the Government of India?
A) Net Tax Revenue = Gross Tax Revenue – Non-Tax Revenue – Fiscal Deficit
B) Net Tax Revenue = Gross Tax Revenue – NCCD transferred to NDRF – States’ share
C) Net Tax Revenue = Gross Tax Revenue – NCCD transferred to National Calamity Contingency Fund – States’ share
D) Net Tax Revenue = Gross Tax Revenue – Total Expenditure – Grants-in-Aid

Q.3 Which of the following is NOT a component of Gross Tax Revenue in India?
A) State GST (SGST)
B) Corporation Tax
C) Customs Duty
D) Goods and Services Tax (GST) – CGST, IGST, GST Compensation Cess

Q.4 Which of the following is NOT a part of the Total Non-Tax Revenue of the Government of India?
A) Interest Receipts
B) Dividend and Profits
C) Goods and Services Tax (GST)
D) External Grants

Q.5 Which of the following is NOT categorized as a Non-Debt Receipt for the Government of India?
A) Recoveries of Loans & Advances
B) Market Borrowings (G-Sec + T-Bills)
C) Disinvestment Receipts
D) None of the above

Q.6 Which of the following is a component of Debt Receipts for the Government of India?
A) External Debt
B) Dividend and Profits
C) Recoveries of Loans & Advances
D) Disinvestment Receipts

Q.7 Which of the following is a correct formula for Total Receipts of the Government of India?
A) Total Receipts = Revenue Receipts + Capital Receipts + Drawdown of Cash Balance
B) Total Receipts = Revenue Receipts + Market Borrowings + External Debt
C) Total Receipts = Tax Revenue + Non-Tax Revenue + Fiscal Deficit
D) Total Receipts = Capital Expenditure + Revenue Expenditure + Disinvestment Receipts

Q.8 How is Fiscal Deficit primarily financed by the Government of India?
A) Revenue Receipts + Disinvestment Receipts
B) Debt Receipts + Drawdown of Cash Balance
C) Tax Revenue + Non-Tax Revenue + Capital Expenditure
D) Market Borrowings + External Grants

Q.9 Which of the following is NOT included under Non-Plan Revenue Expenditure of the Government of India?
A) Interest Payments and Prepayment Premium
B) Defence Expenditure
C) Loans to Public Enterprises
D) Subsidies (Fertilizer, Food, Petroleum)

Q.10 Which of the following is categorized as Capital Expenditure rather than Revenue Expenditure?
A) Grants to State and UT Governments
B) Postal Deficit
C) Loans to State and UT Governments
D) Pensions

Q.11 Which of the following is NOT a part of Plan Expenditure in India?
A) Central Plan – Revenue Expenditure
B) Central Assistance for State & UT Plans – Capital Expenditure
C) Defence Pensions
D) Central Plan – Capital Expenditure

Q.12 Revenue Deficit occurs when:
A) Revenue receipts exceed revenue expenditure
B) Revenue expenditure exceeds revenue receipts
C) Total expenditure exceeds total revenue, excluding borrowings
D) Fiscal deficit minus interest payments is negative

Q.13 Which of the following correctly represents the Fiscal Deficit formula?
A) Total Expenditure – Total Revenue (excluding borrowings)
B) Revenue Expenditure – Revenue Receipts
C) Gross Tax Revenue – State Share – NCCD
D) Total Expenditure – Non-Tax Revenue – Market Borrowings

Q.14 Which of the following correctly represents the formula for Effective Revenue Deficit?
A) Revenue Deficit + Grants in Aid for creation of capital assets
B) Revenue Deficit – Grants in Aid for creation of capital assets
C) Fiscal Deficit – Primary Deficit
D) Total Revenue – Total Expenditure (excluding borrowings)

Q.15 Which of the following correctly represents the formula for Primary Deficit?
A) Fiscal Deficit – Revenue Deficit
B) Revenue Deficit – Interest Payments
C) Fiscal Deficit – Interest Payments
D) Total Expenditure – Total Revenue (excluding borrowings)

Q.16.The following data pertains to a government’s financial position (in ₹ crore):
•Total Expenditure = ₹12,00,000 crore
•Total Revenue (excluding borrowings) = ₹9,50,000 crore
•Interest Payments = ₹2,00,000 crore
•Grants in Aid for Creation of Capital Assets = ₹30,000 crore
•Revenue Expenditure = ₹7,00,000 crore
•Revenue Receipts = ₹5,50,000 crore
Q: Calculate the Fiscal Deficit. a. 2.5 lakh
b. 8.5 lakh
c. 50000
d. 120000

Q.17.The following data pertains to a government’s financial
position (in ₹ crore):
•Total Expenditure = ₹12,00,000 crore
•Total Revenue (excluding borrowings) = ₹9,50,000 crore
•Interest Payments = ₹2,00,000 crore
•Grants in Aid for Creation of Capital Assets = ₹30,000 crore
•Revenue Expenditure = ₹7,00,000 crore
•Revenue Receipts = ₹5,50,000 crore

Q: Calculate the Primary Deficit.
a. 2.5 lakh
b. 8.5 lakh
c. 50000
d. 120000

Q.18. The following data pertains to a government’s financial position (in ₹ crore):
•Total Expenditure = ₹12,00,000 crore
•Total Revenue (excluding borrowings) = ₹9,50,000 crore
•Interest Payments = ₹2,00,000 crore
•Grants in Aid for Creation of Capital Assets = ₹30,000 crore
•Revenue Expenditure = ₹7,00,000 crore
•Revenue Receipts = ₹5,50,000 crore
Q: Calculate the Revenue Deficit.
a. 2.5 lakh
b. 1.5 lakh
c. 50000
d. 120000

Q.19.The following data pertains to a government’s financial
position (in ₹ crore):
•Total Expenditure = ₹12,00,000 crore
•Total Revenue (excluding borrowings) = ₹9,50,000 crore
•Interest Payments = ₹2,00,000 crore
•Grants in Aid for Creation of Capital Assets = ₹30,000 crore
•Revenue Expenditure = ₹7,00,000 crore
•Revenue Receipts = ₹5,50,000 crore
Q: Calculate the effective Revenue Deficit.
a. 2.5 lakh
b. 1.5 lakh
c. 50000
d. 120000