Quiz on 15th Finance Commission Report
Take the following GK Quiz based on 15th Finance
Commission Report submitted to the President. The 15th Finance Commission
submitted its report for the period 2021-22 to 2025-26 to President Ram Nath
Kovind in November 2020. Take a look at the questions below.
GK Quiz on 15th Finance Commission Report (2021-22 to 2025-26)
Aspirants of UPSC IAS, SSC, IES, and other competitive
exams can take this quiz on the 15th Finance Commission Report to test their
knowledge. The Fifteenth Finance Commission (XV-FC) led by Chairman N. K. Singh
submitted its report for the period 2021-22 to 2025-26 to President Ram Nath
Kovind. The report of the Fifteenth Finance Commission, along with an Action
Taken Report, was tabled in Parliament on January 30, 2020.
Quiz
Que.1). With respect to the 15th Finance Commission,
consider the following statements:
1). The term of the 15th Finance Commission was
extended for two years recently.
2). Its recommendations will be applicable for six
years and not the conventional five-year period.
Which of the statement(s) given above is/are correct?
a). 1 only
b). 2 only
c). Both 1 and 2
d). Neither 1 nor 2
Answer: b
Que.2). What is the title of this year’s report?
a). 15th Finance Commission Report
b). Recommendations in Covid times
c). Finance Commission in COVID Times
d). 15th Finance Commission Recommendations
Answer: c
Que.3). The Volume III of the 15th Finance Commission
Report addresses issues related to:
a). State-specific Considerations
b). Union Government
c). Main Report and Annexes.
d). Finances of Each State
Answer: b
Que.4). Which of the following is/are not recommended
in the 15th Finance Commission Report?
1). Grants to States are divided into - Panchayats and
Municipal Bodies
2). Performance-based grants and Sector-specific
grants
3). Setting up of District Disaster Management Funds
4). Setting up of State Disaster Management Fund
a). 3 only
b). 1 and 4 only
c). 1 and 3 only
d). All of the above
Answer: c
Que.5). Who is the Chairman of the 15th Finance
Commission?
a). Dr. Y. V. Reddy
b). G. C. Murmu
c). Nand Kishore Singh
d). Arvind Mehta
Answer: c
Que.6). With respect to the Finance Commission,
consider the following statements:
1). The Finance Commission is a statutory body
2). Recommendations made by the Finance Commission are
only advisory in nature
Which of the statement(s) given above is/are
incorrect?
a). 1 only
b). 2 only
c). Both 1 and 2
d). Neither 1 nor 2
Answer: a
Que.7). When is the report submitted by the Finance
Commission available in the public domain?
a). After the submission of the report to the
President.
b). After the approval of the President
c). After it is presented to Prime Minister
d). After the report is tabled in the Parliament
Answer: d
Que.8). As per the recommendations, the State's share
in the divisible pool of taxes for FY 2020-21 should be reduced from 42% to
a). 41%
b). 35%
c). 39%
d). 40%
Answer: a
Que.9). Which are the two base years of the population
taken by the 15th Finance Commission for the tax calculation for states?
a). 1971 and 2001
b). 1971
c). 2011
d). 1971, 2011
Answer: c
Que.10). Which of the following is not a member of the
15th Finance Commission?
a). Dr. Rajiv Kumar
b). Dr. Ashok Lahiri
c). Ajay Narayan Jha
d). Dr. Ramesh Chand
Answer: a
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