Provisional Accounts of the Union Government for Financial Year 2025-2026
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Article summary
The Controller General of Accounts (CGA) has released the provisional and unaudited accounts of the Union Government for the financial year 2025-2026. These accounts provide a comprehensive overview of the government's fiscal performance, detailing actual receipts, expenditure, and the resulting fiscal deficit against the Revised Estimates (RE) of the Union Budget. The data highlights trends in tax revenue collections, non-tax revenues, and capital expenditure, serving as a crucial indicator of macroeconomic stability and the government's adherence to fiscal consolidation targets under the FRBM Act.
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Sample questions — answers revealed after test
Q1. The provisional accounts of the Union Government for a concluded financial year are released by which of the following authorities?
Q2. A fiscal analyst reviewing the Union Government's provisional accounts for FY 2025-26 observes that the ratio of capital expenditure to total expenditure has risen significantly compared to the Revised Estimates, while the fiscal deficit has come in below the RE target. Which of the following conclusions is MOST directly supported by these two observations taken together?
Q3. Consider the following statements regarding the provisional accounts of the Union Government and the related fiscal framework: 1. The provisional accounts released by the CGA represent audited figures and are legally final for the purposes of the FRBM Act compliance assessment. 2. The primary deficit is obtained by subtracting interest payments from the fiscal deficit, and a declining primary deficit indicates that the government's current revenues are increasingly able to cover its non-interest expenditures. 3. A significant positive deviation between provisional actuals and Revised Estimates — where actual revenue falls short of RE — may indicate systemic over-optimism in revenue projections, undermining the credibility of the budget forecasting process. 4. The timely release of provisional accounts by the CGA contributes to fiscal transparency by enabling early assessment of macroeconomic outcomes before the CAG's final audit report is presented to Parliament. Which of the statements given above are correct?