Launching Mobile App / Desktop App on McQ - Multiple Choice Questions in January First week
Friday, January 1, 2021
Monday, December 28, 2020
McQ on Budget
MCQ on Budget (During Zoom presentation on 27.12.2020)
1. Total number of erstwhile Demands in OWE - Ordinary Working Expenses of Zonal Railways ?
Answer 1: 13
Answer 2: 11
Answer 3: 15
Answer 4: 16
2. Total number of erstwhile Demands in Indian Railways (prior to merger - including both Revenue and Capital)
Answer 1: 16
Answer 2: 15
Answer 3: 13
Answer 4: 1
3. Which fund is described as "Reservoir of Government Money" ?
Answer 1: Public Account of India
Answer 2: Deposit with RBI
Answer 3: Consolidated Fund of India
Answer 4: Central Government Treasury
4. Recovery of Provident Fund is accounted in ?
Answer 1: Contingency Fund of India
Answer 2: Consolidated Fund of India
Answer 3: Public Account of India
Answer 4: Staff Benefit Fund
5. Commercial Accounts of Indian Railways are known as Capital & Revenue Accounts. Answer True or False
Answer 1: True
Answer 2: False
6. Government Accounts of Indian Railways are known as Capital & Revenue Accounts. Answer True or False
Answer 1: True
Answer 2: False
7. One of the options is not example of Charged expenditure
Answer 1: Salary of Cabinet Secretary
Answer 2: Judgement/award of Court
Answer 3: Pay & allowance of C&AG
Answer 4: Pay & allowance of Chief Election Commissioner
8. Pick out the odd man out
Answer 1: Staff Benefit Fund
Answer 2: Contingency Fund of India
Answer 3: Public Account of India
Answer 4: Consolidated Fund of India
9. Budget is a ________________ and _______________ document as per Indian Railway Finance Code Volume One (Chapter 3)
Answer 1: Constitutional , Management
Answer 2: Financial, Audit
Answer 3: Financial, Constitutional
Answer 4: Financial, Audit
10. As per Article 112(1) of Constitution of India, A statement of the estimated receipts and expenditure of the Government of India for that year’ referred to as the "__________________________" and popularly called the "__________________".
Answer 1: annual financial statement, Annual Budget
Answer 2: Annual Budget, Annual Financial Statement
Answer 3: Annual Fiscal document, Management document
Answer 4: None of these
11. Which one is not example of Charged Expenditure in case of Indian Railways
Answer 1: Salary and allowances of Chairman, RRB - Railway Recruitment Board
Answer 2: The salary, allowances and pension payable to or in respect of the CAG -Comptroller and Auditor General of India;
Answer 3: Any sums required to satisfy any judgement, decree or award of any Court or awards by Arbitrators where made into rule of court
Answer 4: Any other expenditure declared by the Constitution or by Parliament by law to be so charged
12. The Demands shall be for _____expenditure ; the credits or recoveries being shown in the form of _________ Demands.
Answer 1: Net, footnotes to
Answer 2: Gross, deducted from
Answer 3: Gross, footnotes to
Answer 4: Net, deducted from
13. The erstwhile Demands No. 1, 2 & 3 are in the nature of _______________
Answer 1: covering all Zonal Railways
Answer 2: Covering Railway Board only
Answer 3: Ordinary Working Expenses
Answer 4: General on cost
14. There is a single works erstwhile Demand No. 16 for all works Expenditure irrespective of source of financing. Say True or False
Answer 1: True
Answer 2: False
15. First two digits in classification/allocation of erstwhile Demand No. 16 is ____________
Answer 1: Demand Number
Answer 2: Source of Finance
Answer 3: Plan Head
Answer 4: Activity
16. First two digits in Revenue classification shows ______
Answer 1: Source of Finance
Answer 2: Erstwhile Demand Number
Answer 3: Single Demand Number 83 (for 2020-21 FY)
Answer 4: Activity
17. Last two digits in Revenue/Capital classification shows_______
Answer 1: Main activity
Answer 2: erstwhile Demand Number
Answer 3: Sub activity
Answer 4: None of these
18. Total digits in Revenue classification/allocation are ____
Answer 1: 8
Answer 2: 7
Answer 3: 6
Answer 4: 9
19. Total digits in Capital classification/allocation are ____
Answer 1: 6
Answer 2: 7
Answer 3: 8
Answer 4: 9
20. Each erstwhile Demand has two-way classification by activity and by Primary units of expenditure. The activity classification identifies _______an expense item is incurred and Primary unit identifies ______ the expense item denotes
Answer 1: Why, What
Answer 2: What, Why
Answer 3: Object, Why
Answer 4: What, Object
21. Ordinary Working Expenses (OWE) consists of ________
Answer 1: Erstwhile Demands 1 to 16
Answer 2: Erstwhile Demands 1 to 15
Answer 3: Erstwhile Demands 3 to 13
Answer 4: Erstwhile Demands 1 & 2
22. GWE - Gross Working Expenses consists of _______
Answer 1: Erstwhile Demands 1 to 15
Answer 2: Erstwhile Demands 1 to 16
Answer 3: Erstwhile Demands 3 to 13
Answer 4: Erstwhile Demands 1 to 14
23. Preparation of the Revised and Budget Estimates should commence at the '__________ level ’
Answer 1: Railway Board
Answer 2: Zonal Railway Headquarters
Answer 3: Grass Root, i.e., Division, Stores Depot, Workshop etc
Answer 4: Divisional Railway Headquarters
24. Accounts Dept (PFA) responsibility towards Budget is _______
Answer 1: Preparation
Answer 2: Compilation and scrutiny
Answer 3: Guidance to Executives
Answer 4: Approving
25. Credits or recoveries shall be __________from the scope of the demands presented for vote of Parliament :-
Answer 1: Excluded
Answer 2: Included
26. The Grants are distributed by the Railway Board among the railway administrations are called as ______________and the orders by means of which the allotments are made are called as ______________
Answer 1: Allotments, Budget Orders
Answer 2: Budget Orders, Allotments
Answer 3: Spending Limit, Allotments
Answer 4: Allotments, Spending Limit
Answers:
2
1
3
3
True
False
1
1
1
1
1
3
4
True
2
2
4 (Primary Unit - Object of expenditure)
1
3
1
3
1
3
2
1
1
*****
Wednesday, December 23, 2020
Second Zoom meeting on MCQ (Budgeting in Indian Railways)
Nageswara Rao www.appendix3.com is inviting you to a Zoom meeting.
Topic: MCQ - Multiple Choice Questions on Budgeting in Indian Railways
Time: 27th December, 2020 18:00 hrs
Tuesday, December 22, 2020
National Rail Plan (Draft) - Announced in December, 2020
Partners in preparing the NRP Draft Report are RITES and AECOM
AECOM is the world's premier infrastructure firm, partnering with clients to solve the world's most complex challenges and build legacies for generations to come.
AECOM is an American multinational engineering firm has approx 87000 employees. Ranked 157 on the Fortune 500 List.
- One discrepancy in the Report is, Konkan Railway is shown as 17th Zonal Railway instead of Kolkata Metro.
- One discrepancy in the Report is, Konkan Railway is shown as 17th Zonal Railway instead of Kolkata Metro.
Monday, December 7, 2020
Merger of Railway Budget with General Budget
Merger of Railway Budget with General Budget
Salient Points
With effect from 2017-18 year
Single Demand for Indian Railways - 83- Ministry of Indian Railways (Subsumed all existing 16 Demands Numbering 01 to 16)
Initially Demand No 80 is allotted to Indian Railways. Subsequently it is changed to 81 and again to 82. Finally for 2020-21 year, the Demand No is 83 (Due to additions and deletions of Ministries/Dept in Union Government)
Erstwhile Demands 03 to 14 (Total 12) are renamed as SMH - Sub Major Head 01 to 12 respectively under Major Head 3002 - Indian Railways Working Expenses - Commercial Lines.
But Classification /Allocation of Expenditure still align with the erstwhile Demands Nos 01 to 06 as per Indian Railways Finance Code Volume II
Demand No. 83 is subdivided into Revenue Section and Capital section.
Revenue Section - Major Heads 3001, 3002
Capital Section - Major Head 5002
Capital At Charge since inception stands extinguished. Hence No Dividend needs be paid on Capital at Charge.
At the same time, no subsidies are available to Indian Railways from Union Government
Interest on Capital is however worked out just like Dividends, but no amount need be paid.
August Review Estimates Budget Review is dispensed. Two Budget Reviews only existed as of now. 1. RE/BE - Revised Estimates of Current Year/Budget Estimates of Next Year and 2. FME - Final Modification Estimates
RE/BE is now due in September in lieu of November.
Works Budget - Proposals to be sent for Works in Progress only
Benefits and Pitfalls of Joint Family over Nuclear Family will apply.
Pros
Only One Appropriation Bill (instead of Two Appropriation Bills)
Both Time and Money for preparation of Railway Budget is saved
Less Political Pressure on Ministry of Railways
No Populism Budget
Revenue deficit (of Indian Railways) will be passed on to Finance Ministry
More flexible for Railway Board to re appropriate between Sub Major Heads (erstwhile Demands)
Annexure J - Big Relief to Indian Railways - Statement of Misclassification is now limited to Misclassification from Revenue to Capital or vice versa and Voted to charged or vice versa) - Included in Appropriation Accounts and goes to Parliament through PAC
Misclassification from One SMH to another SMH on Revenue segment only figured under Statement of Other Mistakes (Not Statement of Misclassification) - Not appeared in Appropriation Accounts. To be settled at Zonal Railway level only.
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