UPSC Indian Revenue Service (IRS) MCQs

Q1. Which Article of the Indian Constitution deals with the Union List?

Q2. GST was introduced in India in which year?

Q3. Which one of the following is a direct tax?

Q4. Fiscal deficit represents:

Q5. Who prepares the Union Budget in India?

Q6. The Reserve Bank of India functions as:

Q7. Which is the largest contributor to India’s GDP?

Q8. What is the term “GDP”?

Q9. Which of the following is NOT a revenue expenditure?

Q10. Which article defines the Union List?

Q11. Who is the Chief Economic Adviser to the Government of India?

Q12. Which is a commonly used financial indicator to measure inflation?

Q13. Which Indian state contributes the maximum to the national economy?

Q14. Which government scheme aims at financial inclusion in rural India?

Q15. Fiscal Policy involves:

Q16. Which of the following is an indirect tax?

Q17. The “Economic Survey of India” is presented before:

Q18. Which organisation rates the public debt of India?

Q19. Which is NOT a money market instrument?

Q20. The base year for calculating GDP in India is:

Q21. “Monetary Policy” in India is formulated by:

Q22. Which Mayer Framework relates to fiscal federalism?

Q23. Which tax is levied on goods manufactured in India?

Q24. Which is the largest source of revenue for the Indian government?

Q25. “Balance of Payments” includes:

Q26. The “Golden Quadrilateral” project is related to:

Q27. Which financial institution provides long-term finance for agriculture?

Q28. Which organisation releases the “World Economic Outlook” report?

Q29. GST replaced which of the following indirect taxes?

Q30. Which Article in Indian Constitution deals with the Finance Commission?

Q31. “Fiscal Deficit” means:

Q32. “Bootstrapping” in economics refers to:

Q33. Which Indian organization prepares the Index of Industrial Production?

Q34. Which Article provides for the Consolidated Fund of India?

Q35. “Disinvestment” means:

Q36. Which of the following is thrusted by the Finance Commission?

Q37. Which is the largest public sector bank in India?

Q38. “Capital Market” deals in:

Q39. Which tax is subsumed under GST?

Q40. Which committee in India reviews the tax structure?