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Mrunal's Prelim MockTest- Economy: Finance Commission (in Hindi)
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In this lecture, we'll learn a few things about the Finance Commission and solve a Mock MCQ about 14th FC's horizontal distribution and a few other topics, which were asked in the recent UPSC CDS Exam conducted in November 2017

Mrunal Patel
This is Mrunal of Mrunal dot Org

Unacademy user
GEM is developed by NeGD (MeitY) and on the official website of GEM also mentions Meity only not MCI! Please confirm?
Sanket Verma
a year ago
Site is managed by MietY however GEM is an initative of Minsitry of commerce
Vivek Singh
a year ago
Thank You!
SIR descending order mein to most sabse pehle phr usse kam phr usse kam hota h na to d kaise hua
mruanl sir with unacademy bravo!!!!! Roamn sir great initative
  1. In this session.. 301 o HRVR 1799013 A NOTEE unacademy We'll start with 25 practice MCQs on Economy Topper's


  2. Mru nal's T25 Mock MCQs for UPSC : Economy->Pill#2 Public Finance Q1. The 14th Finance Commission assigned different weight to the following parameters for tax-distribution to the States: (UPSC's- CDS-ii-2018) 1) Income distance 2) Population 2) Demographic changes 4) Area Arrange them in descending order of weights A. 1-2-3-4 B) 1-2-4-3 B. 1-3-2-4 C) 4-3-2-1 unacademy 100% Surety Pause Video to Attempt it Yourself 50:50 Skip


  3. Constitution of India: 7th Sch.-> Separation of powers-> Taxation Corporation Tax, IT unacademy . Custom Duty, Excise Duty* (Selected products e.g. Petrol, Diesel etc.) . Service Tax CGST, UTGST a few misc. . Total: 14.80 lakh crores (2018)


  4. Constitution of India: 7th Sch. Taxation Powers | Professional Tax CCorporation Tax, IT OCustom Duty, Land Revenue OStamp Duty VAT/Sales Tax |-Excise Duty* unacademy C (Selected products e.g. Petrol, Diesel etc.) (Fuel) State Excise on O DAARU (liquor) CGST, UTGST . SGST+a few misc. . Total: 1.22 lakh cr. a few misc. . Total: 14.80 lakh crores (2018) for 2018 (UP) Even population wise biggest State's own tax revenue is not even 10% of union's!


  5. Art.280: Prez. to setup Finance Commission every 5 yrs Unio 12th Ranga: 30.5% 13th Kelkar: 32% 14th Reddy: 42% 15th NKS: ? State govt's tax base very low, so if union doesn't share its revenue portion in equitable manner, then State Gov. can't function, regional disparities will increase Guj MP UP 4th FC Y.V.Reddy 2015-20 1/4/15 to 31/3/20 Will give report on 30th Oct 2019, OR before 5th FC NK Singh: 2020-25 1/4/20 to 31/3/25


  6. 14th Finance Commission: Y.V.Reddy's formula (1/4/15 to 31/3/20) Unior Guj (3% of 42%) UP (18% of MP Horizontal Distribution parameters & weights Income- Distance Census +50% weight 1971 Population Demo.Chan Area Forest- Cover , 8% ge Census .15 % 2011 17% weight . 10% weight


  7. Mrunal's T25 Mock MCQs for UPSC: Economy ->Pill2 Public Finance Q1. The 14th FC assigned weight to the following parameters for distribution of tax proceeds to the States (UPSC's-CDS-ii-2018) 1) Income distance-50% (most) 2) Population(17%) 2) Demographic changes(10%) 4) Area (15%) Arrange the in descending order of weinht A. 1-2-3-4 B) 1-2-4-3 B. 1-3-2-4 C) 4-3-2-1 unacademy If you knew income is highest wt then only 1 option can be removed (D). If you knew income & pop were highest wt. then two opt can be removed (B, C). Tickmastergiri easier said than done se Video 100% Surety 50:50 Skip TO Attemp Yourself


  8. Mrunal's T25 Mock MCQs for UPSC: Economy ->Pill2 Public Finance Q2. Which one of the following is correct about Aaykar Setu'? (UPSC's-CDS-ii-2018) Alt is a mechanism for achieving excellence in public sector delivery related to GST online payment of taxes collect information and build a database of tax unacademy BWith the use of a mobile app, it facilitates Cut is communication strategy designed to DIt enables electronic filing and processing of defaulters import and export declarations 100% Surety Pause Video 50:50 Skip to Attempt it Yourself


  9. Mrunal's T25 Mock MCQs for UPSC: Economy ->Pill2 Public Finance Q2. Which one of the following is correct about 'Aaykar Setu'? ("Aaykar = income tax", "setu = bridge") A. It is a mechanism for achieving excellence in public sector delivery related to GST (this INDIRECT TAX) Yunacademy B. It facilitates online tax payment using an App C. It is communication strategy designed to collect information and build a database of tax defaulters D. It enables electronic filing and processing of import and export declarations (Again INDIRECT TAX Matter) 100% Surety Pause Video 50:50 Skipto Attempt it Yourself


  10. Mrunal's T25 Mock MCQs for UPSC: Economy ->Pill2 Public Finance Q3. Who is the Convener of the 'Task Force' set up in November 2017 by the Govt. of India to review the Income tax Act and draft a new Yunacademy direct tax law? (UPSC's-CDS-ii-2018) A. Girish Ahuia B. Mukesh Patel Thi means even for CDS you've to prepare current C. Arbind Modi D. Mansi Kedia aFaurs of last n2 months Because exam taken in Nov'18 and matter asked from Nov'17 PIN (Person in News / GK Q). Either 100% or skip 100% Surety Pause Video to Attempt it 50:50 Skip Yourself


  11. Mrunal's T25 Mock MCQs for UPSC: Economy ->Pill2 Public Finance Q4. In 2018-Nov, NAA imposed penalty on McDonald's franchisee. Find correct statement(s) about the NAA? 1. "NAA" stands for National Authority on Anti- 2. Chairman of the CBEC is the ex-officio chairman ofFunacademy 3. Penalty levied by NAA is transferred to GST profiteering. NAA. compensation fund for states. Answer Codes: Separate cess imposed on A. Only 1 and 2 B. Only 2 and 3 luxury goods, coal, aerate d-3 D. None of them drink. NAA -penalties go to Consumer welfare fund Video 100% Surety to Attempt it Yourself 50:50 Skip