Wednesday, May 27, 2015

Day 39 - Questions


Day 39 - Finance Commission, Pay Commission, Bipartite Settlement

( Finance Commission, Pay Commission, Bipartite Settlement )


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1.  Which of the following is/are the function(s) of Finance Commission?
a.  Distribution of net proceeds of taxes between Center and the States
b.  Determine factors governing Grants-in Aid to the States and the magnitude of the same
c.  To make recommendations to president as to the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the state
d.  All of the above

2.  Who is the chairman of 14th Finance Commission (est. 2012, duration 2015-2020)?
a.  Raghuram Rajan
b.  Arun Jaitley
c.  Y.V.Reddy
d.  Suresh Prabhu

3.  Which of the following is the key recommendation of the 14th Finance Commission?
a.  To increase in the share of states in the center's tax revenue from the current 32 % to 40 %
b.  To increase in the share of states in the center's tax revenue from the current 32 % to 42 % 
c.  To increase in the share of states in the center's tax revenue from the current 32 % to 45 %
d.  To increase in the share of states in the center's tax revenue from the current 32 % to 50 %

4.  What is the main function of Pay Commission of India?
a.  To recommend salary structure of government employees
b.  To recommend salary structure of private company employees
c.  To recommend tax shares from central government to state governments
d.  None of the above

5.  Who is the chairman of 7th Pay Commission?
a.  Vivek Rae
b.  Justice Ashok Kumar Mathur
c.  Raghuram Rajan
d.  Arun Jaitley

6.  The 7th Pay Commission will recommend the salary of government employees for the period of -
a.  2016 - 2026
b.  2016 - 2021
c.  2015 - 2025
d.  2015 - 2020

7.  Salary of bank employees is settled by -
a.  Pay Commission
b.  Finance Commission
c.  Bipartite Settlement
d.  independent banks

8.  Bipartite Settlements are signed by which two parties -
a.  Indian Bank's Association (IBA) and United Forum of Bank Unions (UFBU)
b.  Government and UFBU
c.  IBA and government
d.  None of the above

9.  10th Bipartite Settlement (BPS) is for the period of -
a.  2015 - 2020
b.  2012 - 2017
c.  2015 - 2025
d.  2012 - 2022




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