UPSC Prelims Practice Questions — Monthly Review of Accounts of Government of India upto December 2025 (FY 2025-26)

Q1. As per the CGA Monthly Review of Accounts upto December 2025 (FY 2025-26), which one of the following was the single largest component of the Government of India's total receipts?

  • A. Tax Revenue (Net to Centre)
  • B. Non-Tax Revenue
  • C. Non-Debt Capital Receipts
  • D. Recoveries of loans and advances

Q2. With reference to the composition of receipts in the CGA Monthly Review of Accounts upto December 2025 (FY 2025-26), consider the following statements: 1. Total receipts realised were 72.2% of the corresponding Budget Estimates 2025-26. 2. Non-Tax Revenue realised was higher than Non-Debt Capital Receipts realised. 3. Non-Debt Capital Receipts formed the largest single component of total receipts. Which of the statements given above is/are correct?

  1. Total receipts realised were 72.2% of the corresponding Budget Estimates 2025-26.
  2. Non-Tax Revenue realised was higher than Non-Debt Capital Receipts realised.
  3. Non-Debt Capital Receipts formed the largest single component of total receipts.
  • A. 1 and 2 only
  • B. 2 and 3 only
  • C. 1 and 3 only
  • D. 1, 2 and 3

Q3. In the CGA Monthly Review of Accounts upto December 2025 (FY 2025-26), which of the following are correctly identified as items booked under the Revenue Account of Union Government expenditure? 1. Interest Payments 2. Major Subsidies 3. Capital Account outgo of ₹7,87,935 crore 4. Creation of capital assets through direct capital expenditure Which of the above is/are correctly identified?

  1. Interest Payments
  2. Major Subsidies
  3. Capital Account outgo of ₹7,87,935 crore
  4. Creation of capital assets through direct capital expenditure
  • A. 1 and 2 only
  • B. 2 and 3 only
  • C. 1, 2 and 4
  • D. 3 and 4 only

Q4. According to the CGA Monthly Review of Accounts upto December 2025 (FY 2025-26), the total expenditure of ₹33,80,998 crore constituted what percentage of the corresponding Budget Estimates 2025-26?

  • A. 66.7%
  • B. 72.2%
  • C. 62.7%
  • D. 76.7%

Q5. The periodic release of tax devolution installments to State Governments, as reflected in the CGA monthly accounts, is operationalised by which one of the following?

  • A. Ministry of Finance, Government of India
  • B. The Finance Commission
  • C. NITI Aayog
  • D. The Reserve Bank of India's State Finances Division

Q6. With reference to tax devolution to States around the period of the CGA Monthly Review upto December 2025, which of the following statements are correct? 1. The 16th Finance Commission recommended retaining the vertical share of devolution at 41% of the divisible pool. 2. The 16th Finance Commission submitted its report to the President in November 2025. 3. Devolution to States upto December 2025 was higher by ₹1,37,014 crore than in the corresponding period of FY 2024-25. 4. The 16th Finance Commission recommended raising the vertical share of devolution to 42%. Which of the above is/are correctly identified?

  1. The 16th Finance Commission recommended retaining the vertical share of devolution at 41% of the divisible pool.
  2. The 16th Finance Commission submitted its report to the President in November 2025.
  3. Devolution to States upto December 2025 was higher by ₹1,37,014 crore than in the corresponding period of FY 2024-25.
  4. The 16th Finance Commission recommended raising the vertical share of devolution to 42%.
  • A. 1, 2 and 3
  • B. 1 and 4 only
  • C. 2, 3 and 4
  • D. 1, 3 and 4

Q7. The office of the Controller General of Accounts (CGA), which compiles and publishes the monthly accounts of the Union Government, functions under which one of the following?

  • A. Department of Expenditure, Ministry of Finance
  • B. Department of Revenue, Ministry of Finance
  • C. Department of Economic Affairs, Ministry of Finance
  • D. Ministry of Statistics and Programme Implementation

Q8. In matters of Union Government accounting, the Controller General of Accounts (CGA) holds which one of the following designations?

  • A. Principal Accounting Adviser to the Government of India
  • B. Principal Financial Adviser to the Government of India
  • C. Chief Internal Auditor of the Government of India
  • D. Principal Economic Adviser to the Government of India

Q9. With reference to the fiscal-deficit framework relevant to the CGA monthly accounts for FY 2025-26, consider the following statements: 1. The fiscal deficit target for FY 2025-26 was set at 4.4% of GDP. 2. This target was lower than the revised estimate of 4.8% of GDP for FY 2024-25. 3. From FY 2026-27, the government has moved to a debt-to-GDP ratio as its fiscal anchor. 4. The fiscal deficit target for FY 2025-26 was set at 5.1% of GDP. Which of the statements given above are correct?

  1. The fiscal deficit target for FY 2025-26 was set at 4.4% of GDP.
  2. This target was lower than the revised estimate of 4.8% of GDP for FY 2024-25.
  3. From FY 2026-27, the government has moved to a debt-to-GDP ratio as its fiscal anchor.
  4. The fiscal deficit target for FY 2025-26 was set at 5.1% of GDP.
  • A. 1, 2 and 3
  • B. 1 and 4 only
  • C. 2 and 3 only
  • D. 1, 3 and 4

Q10. The statutory glide-path for containing the Union Government's fiscal deficit, against which the CGA monthly accounts are tracked, is mandated under which one of the following?

  • A. Fiscal Responsibility and Budget Management Act, 2003
  • B. Fiscal Responsibility Act, 2000
  • C. Public Debt Act, 1944
  • D. Government Securities Act, 2006

Q11. With reference to the fiscal institutions of the Union, which of the following statements are correctly identified? 1. The CGA exercises the powers of the President under Article 150 to prescribe the form of accounts of the Union and the States. 2. The Comptroller and Auditor General (CAG) derives its authority from Articles 148 to 151 of the Constitution. 3. The CGA is the supreme audit institution of India. 4. The Comptroller and Auditor General prepares and publishes the monthly accounts of the Union Government. Which of the above is/are correctly identified?

  1. The CGA exercises the powers of the President under Article 150 to prescribe the form of accounts of the Union and the States.
  2. The Comptroller and Auditor General (CAG) derives its authority from Articles 148 to 151 of the Constitution.
  3. The CGA is the supreme audit institution of India.
  4. The Comptroller and Auditor General prepares and publishes the monthly accounts of the Union Government.
  • A. 1 and 2 only
  • B. 2 and 3 only
  • C. 1, 3 and 4
  • D. 3 and 4 only

Q12. With reference to the Public Financial Management System (PFMS) used in compiling Union Government accounts, consider the following statements: 1. PFMS is developed and implemented by the Office of the Controller General of Accounts. 2. PFMS was started in 2009 as a Central Sector Scheme of the erstwhile Planning Commission. 3. In 2013 the scope of PFMS was enlarged to cover direct payments to beneficiaries. 4. PFMS is developed and maintained by the Reserve Bank of India. Which of the statements given above are correct?

  1. PFMS is developed and implemented by the Office of the Controller General of Accounts.
  2. PFMS was started in 2009 as a Central Sector Scheme of the erstwhile Planning Commission.
  3. In 2013 the scope of PFMS was enlarged to cover direct payments to beneficiaries.
  4. PFMS is developed and maintained by the Reserve Bank of India.
  • A. 1, 2 and 3
  • B. 1 and 4 only
  • C. 2 and 4 only
  • D. 1, 3 and 4